Lower earnings despite revenue growth
First written in FY2016-Q3. 17 of 38 entries say "Restated". Latest entry: 2026-08-14.
Mandarake moved to the "Worse" side of this theme in 2017, 1 year before the typical company in this theme (2018).
The whole theme swung hardest in 2020: 15 of 56 companies on the "Worse" side.
1 other company's latest entry also says "Restated".
- FY2026-H1ReframedAnnual report
「Against this business backdrop, the Company's performance for the interim accounting period was as follows: revenue was ¥8,324 million, up 8.8% year on year; operating profit was ¥1,317 million, up 40.9%; ordinary profit was ¥1,287 million, up 40.5%; and interim net income was ¥865 million, up 56.2%.」
The earnings structure changed from lower profit despite higher revenue in the previous fiscal year to higher revenue and profit in the interim accounting period, with revenue, operating profit, ordinary profit and interim net income all increasing. - FY2025RestatedAnnual report
「Revenue for the fiscal year increased by ¥727 million from the previous fiscal year to ¥15,183 million, up 5.0% year on year. Operating profit decreased by ¥285 million to ¥1,792 million, down 13.7%.」
The full-year figures reconfirm that profit declined despite higher revenue, with operating profit, ordinary profit and net income decreasing. - FY2025-H1ReframedAnnual report
「As a result, revenue for the interim accounting period was ¥7,644 million, up 5.7% year on year; operating profit was ¥934 million, down 21.9%; ordinary profit was ¥916 million, down 22.5%; and interim net income was ¥553 million, down 30.7%.」
The earnings structure changed to lower profit despite higher revenue, with operating profit, ordinary profit and interim net income declining. - FY2024RestatedAnnual report
「Revenue for the fiscal year increased by ¥1,615 million from the previous fiscal year to ¥14,455 million, up 12.5% year on year. Operating profit increased by ¥203 million to ¥2,078 million, up 10.8%. Ordinary profit increased by ¥202 million to ¥2,055 million, up 10.9%. Net income increased by ¥127 million to ¥1,376 million, up 10.2%.」
The full-year figures continue to show that revenue, operating profit, ordinary profit and net income all exceeded the previous year, resulting in higher revenue and profit. - FY2024-Q2RestatedAnnual report
「As a result, revenue for the cumulative second quarter was ¥7,225 million, up 14.7% year on year; operating profit was ¥1,197 million, up 25.1%; ordinary profit was ¥1,183 million, up 25.1%; and quarterly net income was ¥800 million, up 26.1%.」
The figures continue to show that revenue, operating profit, ordinary profit and quarterly net income all exceeded the previous-year period, resulting in higher revenue and profit. - FY2024-Q1RestatedAnnual report
「As a result, revenue for the cumulative first quarter was ¥3,546 million, up 14.8% year on year; operating profit was ¥571 million, up 25.1%; ordinary profit was ¥565 million, up 25.4%; and quarterly net income was ¥380 million, up 25.8%.」
The figures continue to show that revenue, operating profit, ordinary profit and quarterly net income all exceeded the previous-year period, resulting in higher revenue and profit. - FY2023RestatedAnnual report
「Revenue for the fiscal year increased by ¥2,250 million from the previous fiscal year to ¥12,839 million, up 21.2% year on year. Operating profit increased by ¥940 million to ¥1,874 million, up 100.6%. Ordinary profit increased by ¥946 million to ¥1,852 million, up 104.4%. Net income for the fiscal year increased by ¥660 million to ¥1,248 million, up 112.5%.」
The full-year figures reconfirm that revenue, operating profit, ordinary profit and net income all increased, continuing the pattern of higher revenue and profit from the previous fiscal year. - FY2023-Q3RestatedAnnual report
「As a result, revenue for the cumulative third quarter was ¥9,525 million, up 22.7% year on year; operating profit was ¥1,472 million, up 123.6%; ordinary profit was ¥1,455 million, up 127.6%; and quarterly net income was ¥980 million, up 138.3%.」
The figures continue to show that revenue, operating profit, ordinary profit and quarterly net income all exceeded the previous-year period, resulting in higher revenue and profit. - FY2023-Q2RestatedAnnual report
「As a result, revenue for the cumulative second quarter was ¥6,297 million, up 24.9% year on year; operating profit was ¥957 million, up 163.9%; ordinary profit was ¥945 million, up 170.0%; and quarterly net income was ¥634 million, up 188.3%.」
The figures continue to show that revenue, operating profit, ordinary profit and quarterly net income all exceeded the previous-year period, resulting in higher revenue and profit. - FY2023-Q1RestatedAnnual report
「As a result, revenue for the cumulative first quarter was ¥3,087 million, up 25.6% year on year; operating profit was ¥456 million, up 229.0%; ordinary profit was ¥451 million, up 244.2%; and quarterly net income was ¥302 million, up 281.0%.」
The pattern of higher revenue and profit continued, with revenue, operating profit, ordinary profit and quarterly net income all exceeding the previous-year period and the growth rates also shown in detail. - FY2022RestatedAnnual report
「Revenue for the fiscal year increased by ¥962 million from the previous fiscal year to ¥10,588 million, up 10.0% year on year. Operating profit increased by ¥333 million to ¥934 million, up 55.5%.」
The full-year figures reconfirm that revenue and operating profit, among other items, exceeded the previous year, continuing the pattern of higher revenue and profit. - FY2022-Q3RestatedAnnual report
「As a result, revenue for the cumulative third quarter was ¥7,760 million, up 7.5% year on year; operating profit was ¥658 million, up 34.4%; ordinary profit was ¥639 million, up 37.1%; and quarterly net income was ¥411 million, up 39.4%.」
The figures continue to show that revenue, operating profit, ordinary profit and quarterly net income all exceeded the previous-year period, resulting in higher revenue and profit. - FY2022-Q2RestatedAnnual report
「As a result, revenue for the cumulative second quarter was ¥5,041 million, up 8.4% year on year; operating profit was ¥362 million, up 62.0%; ordinary profit was ¥350 million, up 68.7%; and quarterly net income was ¥219 million, up 77.4%.」
The figures continue to show that revenue, operating profit, ordinary profit and quarterly net income all exceeded the previous-year period, resulting in higher revenue and profit. - FY2022-Q1RestatedAnnual report
「As a result, revenue for the cumulative first quarter was ¥2,457 million, up 7.6% year on year; operating profit was ¥138 million, up 49.7%; ordinary profit was ¥131 million, up 50.5%; and quarterly net income was ¥79 million, up 61.8%.」
The figures reconfirm that revenue, operating profit, ordinary profit and quarterly net income all exceeded the previous-year period, resulting in higher revenue and profit. - FY2021ReframedAnnual report
「Revenue for the fiscal year increased by ¥608 million from the previous fiscal year to ¥9,626 million, up 6.7% year on year. Operating profit increased by ¥343 million to ¥600 million, up 133.4%. Ordinary profit increased by ¥321 million to ¥567 million, up 130.9%. Net income for the fiscal year increased by ¥218 million to ¥357 million, up 156.7%.」
The figures show that the earnings structure moved from lower revenue and substantially lower profit in the previous fiscal year into a recovery phase, with revenue, operating profit, ordinary profit and net income all increasing for the full fiscal year. - FY2021-Q3ReframedAnnual report
「As a result, revenue for the cumulative third quarter was ¥7,218 million, up 8.8% year on year; operating profit was ¥489 million, up 248.5%; ordinary profit was ¥466 million, up 268.2%; and quarterly net income was ¥295 million, up 375.4%.」
The earnings structure changed from lower revenue and substantially lower profit in the cumulative third quarter of the previous fiscal year to higher revenue and profit, with revenue, operating profit, ordinary profit and quarterly net income all exceeding the previous-year period. - FY2021-Q2ReframedAnnual report
「As a result, revenue for the cumulative second quarter was ¥4,650 million, down 0.6% year on year; operating profit was ¥223 million, up 21.3%; ordinary profit was ¥207 million, up 14.5%; and quarterly net income was ¥123 million, up 15.8%.」
While revenue declined 0.6% year on year, operating profit, ordinary profit and quarterly net income all increased, changing the earnings structure from lower revenue and profit in the previous quarter to lower revenue and higher profit. - FY2021-Q1RestatedAnnual report
「As a result, revenue for the cumulative first quarter was ¥2,283 million, down 2.0% year on year; operating profit was ¥92 million, down 22.4%; ordinary profit was ¥87 million, down 32.5%; and quarterly net income was ¥49 million, down 39.0%.」
Revenue, operating profit, ordinary profit and quarterly net income all continued to decline from the previous-year period. - FY2020WorsenedAnnual report
「Revenue for the fiscal year decreased by ¥1,041 million from the previous fiscal year to ¥9,017 million, down 10.3% year on year. Operating profit decreased by ¥633 million to ¥257 million, down 71.1%. Ordinary profit decreased by ¥601 million to ¥245 million, down 71.0%. Net income decreased by ¥424 million to ¥139 million, down 75.3%.」
The earnings structure deteriorated from higher revenue and profit in the previous fiscal year to substantial declines in revenue, operating profit, ordinary profit and net income. - FY2020-Q3WorsenedAnnual report
「As a result, revenue for the cumulative third quarter was ¥6,633 million, down 12.9% year on year; operating profit was ¥140 million, down 83.2%; ordinary profit was ¥126 million, down 84.3%; and quarterly net income was ¥62 million, down 88.3%.」
Revenue and profit continued to decline from the previous cumulative quarter. Revenue declined by 12.9%, while operating profit, ordinary profit and quarterly net income declined by 83.2%, 84.3% and 88.3%, respectively. - FY2020-Q2WorsenedAnnual report
「As a result, revenue for the cumulative second quarter was ¥4,678 million, down 5.6% year on year; operating profit was ¥184 million, down 56.1%; ordinary profit was ¥181 million, down 54.5%; and quarterly net income was ¥107 million, down 57.9%.」
Revenue and profit declined again from the previous quarter, with the declines in operating profit, ordinary profit and quarterly net income widening in addition to the decline in revenue. - FY2020-Q1ReframedAnnual report
「As a result, revenue for the cumulative first quarter was ¥2,331 million, down 3.3% year on year; operating profit was ¥119 million, down 44.4%; ordinary profit was ¥128 million, down 36.9%; and quarterly net income was ¥80 million, down 41.5%.」
The earnings structure changed from higher revenue and profit for the full previous fiscal year to lower revenue and profit in the current first quarter, with revenue, operating profit, ordinary profit and quarterly net income all below the previous-year period. - FY2019ReframedAnnual report
「Revenue increased by ¥193 million from the previous fiscal year to ¥10,059 million, up 1.9% year on year. This was mainly due to steady performance at each existing store. Gross profit also increased by ¥72 million from the previous fiscal year to ¥5,433 million, up 1.3% year on year. Operating profit increased by ¥187 million to ¥890 million, up 26.6% year on year.」
While revenue and gross profit increased in the previous fiscal year, operating profit declined. In the current fiscal year, revenue, gross profit, operating profit, ordinary profit and net income all increased. - FY2019-Q3RestatedAnnual report
「As a result, revenue for the cumulative third quarter was ¥7,621 million, up 2.9% year on year; operating profit was ¥839 million, up 10.9%; ordinary profit was ¥808 million, up 11.3%; and quarterly net income was ¥534 million, up 12.2%.」
Revenue, operating profit, ordinary profit and quarterly net income all continued to exceed the previous-year period. - FY2019-Q2ReframedAnnual report
「As a result, revenue for the cumulative second quarter was ¥4,960 million, up 4.3% year on year; operating profit was ¥420 million, up 28.1%; ordinary profit was ¥398 million, up 29.4%; and quarterly net income was ¥254 million, up 29.4%.」
The earnings structure changed from higher revenue and lower profit in the previous-year period to increases in revenue, operating profit, ordinary profit and quarterly net income in the cumulative second quarter. - FY2019-Q1RestatedAnnual report
「As a result, revenue for the cumulative first quarter was ¥2,412 million, up 3.8% year on year; operating profit was ¥215 million, up 6.3%; ordinary profit was ¥204 million, up 5.9%; and quarterly net income was ¥137 million, up 8.6%.」
Revenue, operating profit, ordinary profit and quarterly net income all exceeded the previous-year period, confirming this earnings structure. - FY2018ReframedAnnual report
「Revenue increased by ¥281 million from the previous fiscal year to ¥9,865 million, up 2.9% year on year. This was mainly due to steady performance at each existing store. Gross profit also increased by ¥319 million from the previous fiscal year to ¥5,361 million, up 6.3% year on year. Operating profit decreased by ¥36 million to ¥703 million, down 4.9% year on year.」
Revenue and gross profit increased, while operating profit and ordinary profit declined and net income increased, indicating this earnings structure. - FY2018-Q3ReframedAnnual report
「As a result, for the cumulative third quarter, revenue was ¥7,400 million, up 3.1% year on year, operating profit was ¥757 million, up 20.0%, ordinary profit was ¥726 million, up 22.2%, and quarterly net profit was ¥476 million, up 24.0%.」
In addition to revenue, operating profit, ordinary profit and quarterly net profit all exceeded the previous year's levels, marking a shift from a structure involving declines in some profit items to one in which all major performance indicators increased. - FY2018-Q2RestatedAnnual report
「As a result, for the cumulative second quarter, revenue was ¥4,755 million, up 1.1% year on year, operating profit was ¥327 million, down 6.5%, ordinary profit was ¥307 million, down 5.3%, and quarterly net profit was ¥196 million, down 8.5%.」
We have reaffirmed the structure of declining profit despite higher revenue, with revenue increasing while operating profit, ordinary profit and quarterly net profit decline. - FY2018-Q1ReframedAnnual report
「As a result, for the cumulative first quarter, revenue was ¥2,323 million, up 2.3% year on year, operating profit was ¥202 million, up 8.8%, ordinary profit was ¥192 million, up 11.2%, and quarterly net profit was ¥126 million, up 11.7%.」
The performance structure has shifted from declining revenue and profit in the previous year to increases in revenue, operating profit, ordinary profit and quarterly net profit in the first quarter. - FY2017ReframedAnnual report
「Revenue increased 4.4% from the previous fiscal year to ¥9,583 million, mainly due to steady performance at existing stores. Gross profit also increased 4.7% to ¥5,041 million.」
The performance structure has shifted from declining profit despite higher revenue and mixed performance across individual profit items to a recovery trend in which revenue, gross profit, operating profit, ordinary profit and net profit all exceed the previous year's levels for the full fiscal year. - FY2017-Q3ReframedAnnual report
「As a result, for the cumulative third quarter, revenue was ¥7,175 million, up 5.0% year on year, operating profit was ¥631 million, up 1.3%, ordinary profit was ¥594 million, down 2.7%, and quarterly net profit was ¥384 million, down 1.4%.」
The performance structure has shifted to one in which revenue and operating profit increase while ordinary profit and quarterly net profit decline. - FY2017-Q2ReframedAnnual report
「As a result, for the cumulative second quarter, revenue was ¥4,701 million, up 1.7% year on year, operating profit was ¥350 million, down 11.1%, ordinary profit was ¥325 million, down 16.4%, and quarterly net profit was ¥215 million, down 9.9%.」
The performance structure has shifted from declining revenue and profit in the first quarter to declining operating profit, ordinary profit and net profit despite a 1.7% increase in revenue for the first half. - FY2017-Q1ReframedAnnual report
「As a result, for the cumulative first quarter, revenue was ¥2,270 million, down 1.4% year on year, operating profit was ¥185 million, down 38.7%, ordinary profit was ¥173 million, down 43.0%, and quarterly net profit was ¥113 million, down 39.4%.」
The performance structure has shifted from declining profit despite higher revenue through the previous year-over-year quarter to declining revenue and profit in the first quarter. - FY2016ReframedAnnual report
「Revenue declined 0.3% from the previous fiscal year to ¥9,172 million, mainly due to lower sales at existing stores. Operating profit also declined 37.0% to ¥688 million.」
The performance structure has changed from declining profit despite higher revenue through the previous quarter to declining revenue accompanied by lower operating profit for the full fiscal year. - FY2016-Q3First statedAnnual report
「Revenue was ¥6,828 million, up 1.3% year on year, but operating profit was ¥622 million, down 27.5%, ordinary profit was ¥610 million, down 27.9%, and quarterly net profit was ¥389 million, down 25.3%, due to higher expenses, including costs associated with securing personnel to expand the scale of operations.」
This shows a performance structure in which revenue increased while operating profit, ordinary profit and quarterly net profit declined.