Spillover from Subsidiary Performance Volatility to Group Results
First written in FY2017-Q3. 6 of 25 entries say "Restated". Latest entry: FY2027-H1.
Yoshimura Food Holdings K.K. moved to the "Worse" side of this theme in 2020, 1 year before the typical company in this theme (2021).
The whole theme swung hardest in 2026: 3 of 6 companies on the "Worse" side.
1 other company's latest entry also says "Worsened".
- FY2027-H1WorsenedAnnual report
「In the domestic scallop-related business, comprising the scallop-related businesses of マルキチ and the ワイエスフーズグループ, overseas sales were conducted to some extent, but revenue declined due to lower raw material sales following a decrease in scallop catches in Funka Bay. Profit also declined because, in addition to lower revenue, higher purchase prices for scallop raw materials reduced the margins of some products.」
Lower catches at scallop-related subsidiaries, reduced raw material sales and higher purchase prices affected the manufacturing business, resulting in lower profit on a consolidated basis. - 2026-07-15MaterialisedResults presentation
「The domestic scallop-related business posted a substantial decline in earnings.」
In the first quarter of the fiscal year ending February 2027, lower sales volumes and the sale of high-cost inventory in the domestic scallop-related business resulted in lower earnings, with performance fluctuations at individual subsidiaries and businesses affecting overall results. - FY2026WorsenedAnnual report
「Regarding business performance for the consolidated fiscal year, subsidiaries engaged in the processing and sale of scallops and other products among the domestic subsidiaries, namely 株式会社マルキチ, 株式会社ワイエスフーズ and its subsidiaries (collectively, the ワイエスフーズグループ), posted lower profit due to a decline following the previous fiscal year's one-off factors, a review of inventory valuation, and higher costs resulting from lower catches and higher purchase prices. Overseas subsidiaries also remained in a challenging situation, resulting in performance below the year-earlier period.」
Lower profit at domestic subsidiaries related to scallops and overseas subsidiaries affected full-year consolidated performance, with revenue, operating profit, ordinary profit and profit attributable to owners of the parent all falling below the year-earlier period. - FY2026-H1WorsenedAnnual report
「Regarding business performance for the interim consolidated accounting period, domestic subsidiaries engaged in the processing and sale of scallops and other products, namely 株式会社マルキチ, 株式会社ワイエスフーズ and its subsidiaries (collectively, the ワイエスフーズグループ), posted lower profit, as did overseas subsidiaries. Consequently, revenue was ¥27,765.825 million, down 3.4% year on year; operating profit was ¥921.269 million, down 52.3%; ordinary profit was ¥872.902 million, down 54.9%; and interim net profit attributable to owners of the parent was ¥528.305 million, down 34.5%.」
Both domestic subsidiaries related to scallops and overseas subsidiaries posted lower profit, resulting in lower revenue and profit for the Group as a whole. The impact of subsidiary performance fluctuations on consolidated performance has materialized in a negative direction. - FY2025AdvancedAnnual report
「The manufacturing business comprises 29 companies that manufacture food products, kitchen equipment and other products in Japan, Singapore and Malaysia.」
Updated the number of companies comprising the manufacturing business from 28 to 29, indicating the expansion of the Group structure, including 富強食品. - FY2025-Q1Updated the number of companies comprising the manufacturing business.Annual report
「The manufacturing business comprises 28 companies that manufacture food products, kitchen equipment and other products in Japan, Singapore and Malaysia.」
The disclosure states that the manufacturing business comprised 28 companies as of the first quarter, including the number of constituent companies and operating regions. - FY2024AdvancedAnnual report
「The Group comprises the Company, 35 consolidated subsidiaries, 2 equity-method affiliates and 1 unconsolidated subsidiary.」
The year-end structure has been disclosed, with 35 consolidated subsidiaries, in a structure where fluctuations in subsidiary performance affect the Group's performance. - FY2024-Q3AdvancedAnnual report
「As a result, regarding business performance for the third quarter of the current cumulative consolidated period, domestic subsidiaries' sales and operating profit both exceeded the year-earlier period as the effects of price revisions and production efficiency improvements pursued since the previous fiscal year emerged and the profit and loss of companies newly brought into the Group through M&A was incorporated. Overseas subsidiaries also recovered as restrictions related to COVID-19 were eased, resulting in higher sales and operating profit than in the year-earlier period.」
The incorporation of profit and loss from newly grouped companies, efficiency improvements at domestic subsidiaries and recovery at overseas subsidiaries all contributed to higher sales and operating profit at domestic and overseas subsidiaries. - FY2024-Q2AdvancedAnnual report
「As a result, regarding business performance for the second quarter of the current cumulative consolidated period, domestic subsidiaries' sales and profit both exceeded the year-earlier period as the effects of price revisions and production efficiency improvements pursued since the previous fiscal year emerged and the profit and loss of companies newly brought into the Group through M&A was incorporated. Overseas subsidiaries also recovered as restrictions related to COVID-19 were eased, resulting in higher sales and profit than in the year-earlier period.」
Domestic subsidiaries posted higher revenue and profit due to price revisions, production efficiency improvements and the incorporation of acquired companies' profit and loss, while overseas subsidiaries recovered following the easing of restrictions, resulting in higher revenue and profit for both domestic and overseas subsidiaries. - FY2024-Q1AdvancedAnnual report
「Sales and profit both exceeded the year-earlier period as 株式会社ONESTORY, 株式会社小田喜商店, 株式会社細川食品, 株式会社丸太太兵衛小林製麺, 株式会社林久右衛門商店 and 株式会社マルキチ newly joined the Group, the effects of price revisions and production efficiency improvements pursued since the previous fiscal year emerged, and overseas subsidiary sales recovered following the easing of restrictions related to COVID-19.」
The addition of Group companies has further expanded the structure in which subsidiary performance is reflected in the Group's overall revenue and profit. - FY2023AdvancedAnnual report
「The Group comprises the Company, 31 consolidated subsidiaries, 2 equity-method affiliates and 1 unconsolidated subsidiary.」
The Group has disclosed its current structure, with the number of consolidated subsidiaries having increased to 31, in a business model where subsidiary growth and performance fluctuations affect the Group as a whole. - FY2023-Q3ReframedAnnual report
「In the domestic business, some companies struggled as manufacturing and procurement costs rose due to soaring raw material and energy prices, but sales and profit exceeded the year-earlier period owing to the recovery in sales following the easing of restrictions related to COVID-19 and the addition of the newly acquired 十二堂株式会社 and 株式会社小田喜商店 to the Group. In the overseas business, sales and profit exceeded the year-earlier period as sales to hotels and restaurants recovered following the easing of restrictions related to COVID-19.」
Despite the impact of higher costs, the domestic business posted higher revenue and profit due to M&A and the easing of restrictions, while the overseas business also posted higher revenue and profit as sales to hotels and restaurants recovered. The update now reflects recovery in both domestic and overseas subsidiary performance. - FY2023-Q2ReframedAnnual report
「As a result, regarding business performance for the second quarter of the current cumulative consolidated period, domestic sales exceeded the year-earlier period as sales at some Group companies to retailers such as food supermarkets and drugstores struggled, sales to institutional food-service operators recovered, and 十二堂株式会社 newly joined the Group. However, profit remained at the same level as in the year-earlier period due to soaring raw material and other costs. Overseas sales exceeded the year-earlier period as restrictions related to COVID-19 were eased, but profit fell below the year-earlier period because raw material, logistics and labor costs rose.」
The description has been updated to show divergent subsidiary performance, with the domestic business reporting higher revenue and flat profit and the overseas business reporting higher revenue and lower profit. - FY2023-Q1ReframedAnnual report
「In the domestic business, sales and profit exceeded the year-earlier period as sales to retailers such as food supermarkets and drugstores remained stable, sales to institutional food-service operators and the tourism sector partially recovered, and 十二堂株式会社 newly joined the Group. In the overseas business, sales exceeded the year-earlier period as restrictions related to COVID-19 were eased, but profit fell below the year-earlier period because raw material, logistics and labor costs rose more than expected.」
The performance description has been updated to show domestic subsidiaries with higher revenue and profit and overseas subsidiaries with higher revenue but lower profit. - FY2022-Q3ReframedAnnual report
「Regarding business performance for the third quarter of the current cumulative consolidated period, domestic subsidiaries saw sales to retailers such as food supermarkets and drugstores level off. Sales to the food-service and tourism industries showed some signs of recovery after the state of emergency was lifted, but continued to trend downward as the frequency of eating out and consumer willingness to spend remained low. Meanwhile, overseas subsidiaries continued to perform well in sales to retailers such as supermarkets, and sales to the food-service and hotel sectors continued to recover.」
Updating the divergence in performance, with demand from the domestic food-service and tourism sectors continuing to decline while overseas sales to the food-service and hotel sectors continue to recover. - FY2022-Q2RestatedAnnual report
「Regarding business performance for the second quarter of the current cumulative consolidated period, domestic subsidiaries saw sales to retailers such as food supermarkets and drugstores level off, while sales to the food-service and tourism industries continued to trend downward following the declaration of a state of emergency. Meanwhile, overseas subsidiaries continued to perform well in sales to retailers such as supermarkets, and sales to the food-service and hotel sectors began to recover.」
Performance fluctuations by customer continued at domestic and overseas subsidiaries, with declining domestic sales to the food-service and tourism sectors coexisting with recovering overseas sales to the food-service and hotel sectors. - FY2022-Q1RestatedAnnual report
「Regarding business performance for the first quarter of the current cumulative consolidated period, sales by domestic subsidiaries to retailers such as food supermarkets and drugstores remained stable, while sales to institutional food-service operators, the food-service industry and the tourism industry continued to trend downward. Overseas subsidiaries continued to perform well in sales to retailers such as supermarkets, while sales to hotels, the airline-related sector and catering continued to trend downward.」
Performance fluctuations by customer continued at domestic and overseas subsidiaries, with overseas sales to hotels, the airline-related sector and catering continuing to decline. - FY2021MaterialisedAnnual report
「In domestic operations, sales to industrial catering, restaurants and the tourism industry declined because of COVID-19, but sales to supermarkets and other retailers increased, resulting in performance exceeding the prior year. In overseas operations, sales to supermarkets and other retailers increased, but sales to hotels, aviation-related customers and catering customers declined substantially, resulting in performance below the prior year.」
Actual fluctuations in performance by customer occurred at domestic and overseas subsidiaries and affected the Group's overall performance. - FY2021-Q3RestatedAnnual report
「In domestic operations, sales to industrial catering, restaurants and the tourism industry declined because of COVID-19, but the increase in sales to supermarkets and other retailers resulted in performance exceeding the prior year. In overseas operations, sales to supermarkets and other retailers increased and sales to restaurants recovered as consumption in Singapore expanded. However, sales to hotels, aviation-related customers and catering customers continued to decline, resulting in performance below the prior year.」
Higher revenue at domestic subsidiaries coexisted with lower revenue at overseas subsidiaries, continuing to demonstrate how fluctuations in subsidiary performance affect group results. - FY2021-Q2WorsenedAnnual report
「During the second-quarter consolidated cumulative period, domestic operations remained solid, but overseas operations fell well below the prior year because some subsidiaries suspended operations following a partial lockdown in Singapore and many customers closed or scaled back their businesses.」
The performance of overseas subsidiaries fell well below the prior year because of Singapore’s partial lockdown and closures or downsizing among customers. - FY2021-Q1MaterialisedAnnual report
「Operating profit increased substantially at domestic subsidiaries as stay-at-home consumption rose amid the spread of COVID-19, but declined at overseas subsidiaries because utilization rates at major hotel and restaurant customers fell and provisions were recorded based on a conservative estimate of the impact.」
The performance of domestic and overseas subsidiaries was affected by COVID-19, with overseas subsidiaries actually reporting lower profit because utilization rates at major customers declined and provisions were recorded. - FY2020RestatedAnnual report
「The group’s business model is to pursue group-wide growth through the growth of its subsidiaries. Because the financial condition and operating results of each subsidiary have a significant impact on the group’s overall financial condition and operating results, fluctuations in subsidiary performance may affect the group’s results.」
The company continues to describe a structure dependent on the growth of subsidiaries, including 24 consolidated subsidiaries, and the risk that fluctuations in subsidiary performance may affect the group as a whole. - FY2019RestatedAnnual report
「The group’s business model is to pursue group-wide growth through the growth of its subsidiaries. Because the financial condition and operating results of each subsidiary have a significant impact on the group’s overall financial condition and operating results, fluctuations in subsidiary performance may affect the group’s results.」
The company reiterates the structure of growing the group as a whole through subsidiary growth and the risk that fluctuations in subsidiary performance may affect overall results. - FY2018RestatedAnnual report
「The group consists of the company, 13 consolidated subsidiaries and 1 non-consolidated subsidiary, and its business model is to pursue growth across the group through the growth of its subsidiaries.」
The company reiterates the structure in which subsidiary growth drives group-wide growth and the possibility that fluctuations in subsidiary performance may affect the group as a whole. - FY2017-Q3First statedAnnual report
「The group consists of the company, 8 consolidated subsidiaries and 1 non-consolidated subsidiary, and its business model is to pursue growth across the group through the growth of its subsidiaries. Because the financial condition and operating results of each subsidiary have a significant impact on the group’s overall financial condition and operating results, fluctuations in subsidiary performance may affect the group’s results.」
The company explicitly states both the structure of pursuing group-wide growth through subsidiary growth and the possibility that fluctuations in subsidiary performance may affect group results.