Rising Labor Costs Due to Labor Shortages

「Gross profit decreased by ¥370 million from the previous consolidated fiscal year, as higher raw material prices and labor costs resulting from wage increases offset cost reductions from improved production efficiency and labor-saving measures.」

「Profit fell below the previous year's level because of the significant impact of higher raw material and labor costs, including surimi, the principal raw material, despite efforts to improve productivity and reduce costs on an ongoing basis.」

「Gross profit decreased by ¥137 million from the previous consolidated fiscal year, despite cost reductions from improved production efficiency and labor-saving measures, due to higher labor costs resulting from wage increases, higher energy costs and greater depreciation expenses from capital investment. Operating profit was ¥891 million, after selling, general and administrative expenses increased by ¥243 million due to higher delivery costs and salaries resulting from base-pay increases.」

「Revenue exceeded the previous-year period, as sales volumes grew, led by stick-type imitation crab, and products offering good shelf life and convenience that meet consumer needs performed well. Profit also exceeded the previous-year period, despite higher costs including labor and packaging materials, due to improved factory productivity and higher factory utilization resulting from increased sales volumes.」

「Labor shortages caused by the declining working-age population are expected to become even more serious. To maintain stable production and fulfill its responsibility to supply products, the company plans to improve production efficiency by reducing the number of products manufactured, thereby establishing profitability and competitive advantages.」

「However, many costs have risen far beyond expectations, including prices for surimi and other raw materials and for electricity, gas and other energy, as well as labor costs amid labor shortages, due to factors including the prolonged Russian invasion of Ukraine, the widening Japan-US interest rate gap resulting from US Federal Reserve policy rate hikes, and the sharp depreciation of the yen against the backdrop of Japan's trade deficit. The business environment surrounding our group has become more difficult than ever.」

「Many costs, including raw material prices, particularly surimi, electricity and gas prices and other energy costs, as well as labor costs attributable to labor shortages, have risen far beyond expectations, making the business environment surrounding the Group more challenging than ever.」

「Prices for raw materials, including surimi, and resources such as crude oil surged due to the global economic recovery, the situation in Ukraine and the rapid depreciation of the yen. In addition, various costs, including labor costs rising amid an increasingly chronic labor shortage, increased substantially beyond expectations.」

「In addition, various costs have risen beyond expectations, including prices for surimi and other raw materials, energy prices amid the recovery of the global economy, and labor costs amid increasingly chronic labor shortages. The business environment surrounding our group is becoming even more difficult.」

「In addition, various costs are rising, including prices for raw materials such as surimi and for energy, as well as labor costs, which are increasing against a backdrop of labor shortages. The business environment surrounding our group is becoming increasingly difficult.」

「There are concerns that deflation may return as difficult economic conditions persist, while costs are expected to rise, including higher labor costs due to surging raw material prices and labor shortages. The operating environment surrounding the Group therefore remains challenging.」

「In addition, costs are expected to rise, including raw material prices and labor costs attributable to labor shortages, and the business environment surrounding the Group remains challenging.」

「The environment surrounding the Group remains challenging. Consumers' preference for low prices remains deeply entrenched and concern about household finances has become the norm, while costs are expected to rise, including higher labor costs due to surging raw material prices and labor shortages.」

「The environment surrounding the Group remains challenging. Consumers' preference for low prices remains deeply entrenched and concern about household finances has become the norm, while costs are expected to rise, including higher labor costs due to surging raw material prices and labor shortages.」

「The company has promoted cost reductions focused on labor-saving, but profit fell below that of the same quarter of the previous year due to surging surimi prices resulting from strong global demand for seafood, as well as higher labor and energy costs associated with rising wage rates.」

「Results were lower than in the same quarter of the previous year, due in part to higher surimi prices resulting from stronger global demand and foreign-exchange movements, as well as higher labor and energy costs associated with wage-rate increases.」

「Profit fell below that of the previous fiscal year due to higher raw-material prices, higher labor costs resulting from labor shortages, and higher energy costs.」

「Profit was lower than in the same quarter of the previous year, due in part to higher labor costs resulting from labor shortages and higher energy costs.」

「Profit fell below that of the same quarter of the previous year due to higher labor costs resulting from labor shortages, as well as higher energy costs.」

「Profit was affected by higher energy costs and labor costs resulting from labor shortages, but remained at the same level as in the same quarter of the previous year because of higher sales.」