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Toell (3361) · TargetSlightly higher revenue; lower profitLatest Earnings (2026-09-11): "Other"

Expanding and Growing the Water Business Foundation

First written in FY2016. 21 of 38 entries say "Advanced", first in FY2017-Q2. Latest entry: 2026-09-11.

38entries
11years
3from disclosures
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How it moved
ProgressHeldSoftenedWorseAdvancedFY2017 – FY2019OtherFY2020-Q1 – FY2021-Q2AdvancedFY2021-Q3 – FY2022-Q3AdvancedFY2023-Q2 – FY2025-H1OtherFY2025 – 2026-09-112016: 320162017: 420172018: 320182019: 420192020: 420202021: 420212022: 420222023: 420232024: 220242025: 220252026: 42026
Same theme, other companies
Revenue and profit growth in the environmental equipment businessA theme 11 companies write about · 1 as a headwind · 16 as a tailwind

The whole theme swung hardest in 2022: 2 of 8 companies on the "Worse" side.

0 other companies' latest entry also says "Other".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Full recordFilings, disclosures and news, newest first
  1. 2026-09-11OtherEarnings

    「Net sales were ¥1,753 million, down 1.3% year on year, while segment profit before allocation of administrative expenses was ¥414 million, up 21.0%.」

    The Water business posted lower net sales because of a decline in units sold, while segment profit increased through measures including expense control.
  2. FY2026Slightly higher revenue; lower profitAnnual report

    「As a result, revenue was ¥6,759 million, up 0.2% from the previous consolidated fiscal year, while segment profit before allocation of corporate overhead was ¥1,219 million, down 9.0%.」

    Water revenue turned from a decline in the previous year to a 0.2% increase, while segment profit fell 9.0% because of higher logistics costs including labor costs, materials costs and advertising expenses.
  3. FY2026-H1Lower revenue and profit, with higher costs continuingAnnual report

    「The company focused on developing new customers through advertising, worked to improve service quality and sought to reduce the cancellation rate, but sales volumes fell slightly below the previous year, resulting in lower revenue. On the earnings front, profit declined because of higher materials prices and logistics costs, increased depreciation associated with investment in production facilities, and higher advertising expenses resulting from stronger advertising to increase brand awareness.」

    Although the company worked to develop new customers, improve service quality and reduce the cancellation rate, sales volumes fell below the previous year, and higher materials, logistics, depreciation and advertising costs resulted in lower revenue and profit.
  4. FY2025Lower revenue and profit, higher costsAnnual report

    「The decline in OEM sales volumes caused total sales volumes to fall slightly below the previous year, resulting in a slight year-on-year decline in revenue. Profit also declined because of the decrease in sales volumes, higher logistics costs including labor costs, and increased advertising and other expenses to acquire new customers.」

    The Water business posted lower revenue and profit due to lower sales volumes, including OEM volumes, higher logistics costs including labor costs, and increased advertising expenses associated with developing new customers.
  5. FY2025-H1AdvancedAnnual report

    「As a result, revenue was ¥3,538 million, up 0.7% year on year, while segment profit before allocation of corporate overhead was ¥818 million, up 1.8%.」

    Water revenue increased 0.7% year on year and segment profit increased 1.8%, indicating higher revenue and profit.
  6. FY2024-Q3AdvancedAnnual report

    「As a result, revenue was ¥5,131 million, up 2.2% year on year, while segment profit before allocation of corporate overhead was ¥1,115 million, up 15.4%.」

    Water revenue increased 2.2% year on year and segment profit increased 15.4%, indicating higher revenue and profit.
  7. FY2024-Q2AdvancedAnnual report

    「As a result, revenue was ¥3,514 million, up 3.2% year on year, while segment profit before allocation of corporate overhead was ¥804 million, up 24.2%.」

    For the first 2 quarters, Water revenue increased 3.2% year on year and segment profit increased 24.2%, indicating higher revenue and profit.
  8. FY2024-Q1AdvancedAnnual report

    「In the Water business, the company strengthened its management structure to ensure stable operation in preparation for growing demand for water. It also worked to expand sales through a differentiation strategy aimed at further establishing its own brand based on high-quality natural spring water. As a result, revenue was ¥1,740 million, up 2.5% year on year, while segment profit before allocation of corporate overhead was ¥403 million, up 35.5%.」

    As the company strengthened its management structure and expanded sales of its own brands, Water revenue increased 2.5% year on year and segment profit increased 35.5%.
  9. FY2023AdvancedAnnual report

    「As a result, revenue was ¥6,608 million, up 2.2% from the previous consolidated fiscal year, while segment profit before allocation of corporate overhead was ¥1,309 million, up 22.4%.」

    The Water business posted higher revenue and profit, with revenue up 2.2% and segment profit up 22.4%.
  10. FY2023-Q3AdvancedAnnual report

    「In the Water business, the company has been working to ensure stable operation and expand production facilities in preparation for growing demand for water. It also worked to expand sales through a differentiation strategy aimed at further establishing its own brand based on high-quality natural spring water.」

    The company continued to ensure stable operation and expand production facilities and its own-brand sales. Water revenue was ¥5,021 million and segment profit was ¥967 million, both higher year on year.
  11. FY2023-Q2AdvancedAnnual report

    「Although the impact of the COVID-19 pandemic has gradually eased, sales volumes declined slightly year on year because the recovery in corporate demand, including office demand, has been slow. Nevertheless, revenue increased year on year as the company appropriately passed on higher costs for materials, utilities and logistics. Despite broad-based cost increases resulting from the weaker yen, profit increased through manufacturing-cost efficiencies, including fixed-cost reductions and lower depreciation. As a result, revenue was ¥3,404 million, up 2.3% year on year, while segment profit before allocation of corporate overhead was ¥647 million, up 13.0%.」

    Water sales volumes fell slightly year on year, while revenue increased 2.3% and segment profit increased 13.0% through passing on higher costs and improving manufacturing-cost efficiency.
  12. FY2023-Q1Higher revenue and lower earningsAnnual report

    「Although the impact of the COVID-19 pandemic continued, sales volumes gradually recovered and revenue increased year on year. On the earnings front, profit declined because the weaker yen increased import costs. As a result, revenue was ¥1,698 million, up 2.1% year on year, while segment profit before allocation of corporate overhead was ¥297 million, down 1.1%.」

    The Water business saw sales volumes recover and revenue increase 2.1%, while segment profit fell 1.1% because of higher import costs resulting from the weaker yen.
  13. FY2022Declining revenue and higher profitAnnual report

    「As a result, revenue was ¥6,468 million, a decrease of ¥13 million from the previous consolidated fiscal year, while segment profit before allocation of corporate overhead was ¥1,070 million, an increase of ¥128 million, as lower depreciation and other expenses reduced costs.」

    For the full year, Water revenue decreased by ¥13 million, while segment profit increased by ¥128 million as depreciation and other expenses reduced costs.
  14. FY2022-Q3AdvancedAnnual report

    「Although the number of hours spent at home increased due to the continuing impact of the COVID-19 pandemic and household demand grew, total sales volumes fell below the previous year because contract manufacturing for OEM customers declined, while revenue increased slightly year on year due to stronger household demand. Profit increased as lower depreciation and other expenses reduced costs.」

    Although sales volumes fell below the previous year, the Water business posted revenue of ¥4,901 million, up ¥11 million year on year, and segment profit of ¥789 million, up ¥109 million, indicating higher revenue and profit.
  15. FY2022-Q2AdvancedAnnual report

    「To meet this demand, the company strengthened its production structure. Its Hawaii and Omachi plants continued manufacturing and shipping as usual under rigorous infection prevention and quality-control measures, working to ensure stable supply. As a result, revenue was ¥3,328 million, a decrease of ¥2 million from the previous consolidated fiscal year, while segment profit before allocation of corporate overhead was ¥573 million, an increase of ¥58 million.」

    The Water business strengthened its production structure. Revenue decreased by ¥2 million, while segment profit increased by ¥58 million.
  16. FY2022-Q1AdvancedAnnual report

    「In the Water business, the company has been working to ensure stable operation and expand production facilities in preparation for growing demand for water. It also worked to expand sales through a differentiation strategy aimed at further establishing its own brand based on high-quality natural spring water. As a result, revenue was ¥1,664 million, an increase of ¥30 million year on year, while segment profit before allocation of corporate overhead was ¥300 million, an increase of ¥99 million year on year.」

    The Water business pursued stable operation and expansion of its production facilities and increased sales of its brands, resulting in higher revenue and segment profit year on year.
  17. FY2021AdvancedAnnual report

    「Although household demand increased as people spent more time at home due to the COVID-19 pandemic, the decline in corporate demand resulted in a 5.2% decrease in sales volumes on a 12-liter-equivalent basis from the previous consolidated fiscal year and lower revenue. On the earnings front, manufacturing costs increased because of depreciation on the building being prepared for the opening of Omachi Plant No. 4, depreciation at Nimitz Factory (Hawaii Plant No. 2), labor costs and other expenses, but profit increased as sales-promotion expenses and other costs were used and reduced more efficiently.」

    Water sales volumes fell 5.2% year on year and revenue fell 1.4%, while segment profit was ¥942 million, up 30.9%, due to the efficient use and reduction of sales-promotion expenses and other costs.
  18. FY2021-Q3AdvancedAnnual report

    「Although household demand increased as people spent more time at home due to the COVID-19 pandemic, the decline in corporate demand resulted in a 5.1% year-on-year decrease in bottle sales volumes on a 12-liter-equivalent basis and lower revenue. On the earnings front, manufacturing costs increased because of depreciation on the building being prepared for the opening of Omachi Plant No. 4, depreciation at Nimitz Factory (Hawaii Plant No. 2), labor costs and other expenses, but profit increased as sales-promotion expenses and other costs were used and reduced more efficiently.」

    Water sales volumes on a 12-liter-equivalent basis fell 5.1% year on year and revenue fell 0.9%, while segment profit was ¥679 million, up 24.0%. Profit increased through the efficient use and reduction of sales-promotion expenses and other costs.
  19. FY2021-Q2Lower revenue, higher earningsAnnual report

    「Bottle sales volumes, on a 12-liter-equivalent basis, fell 4.4% year on year, resulting in lower revenue. On the earnings front, manufacturing costs increased because of depreciation on the building being prepared for the opening of Omachi Plant No. 4, depreciation at Nimitz Factory (Hawaii Plant No. 2), labor costs and other expenses, but profit increased as sales-promotion expenses and other costs were used and reduced more efficiently.」

    Water sales volumes on a 12-liter-equivalent basis fell 4.4%, resulting in lower revenue, while profit increased through the efficient use and reduction of sales-promotion expenses and other costs.
  20. FY2021-Q1Flat revenue, lower profitAnnual report

    「As a result, revenue was ¥1,634 million, up 0.1% year on year, while segment profit before allocation of corporate overhead was ¥201 million, down 6.8%.」

    Water revenue was broadly flat, up 0.1% year on year, while segment profit fell 6.8%.
  21. FY2020Higher revenue and lower earningsAnnual report

    「As a result, revenue was ¥6,572 million, up 4.8% from the previous consolidated fiscal year, while segment profit before allocation of corporate overhead was ¥719 million, down 31.6%.」

    Water revenue increased, while segment profit fell 31.6%, resulting in higher revenue but lower profit.
  22. FY2020-Q3RestatedAnnual report

    「As a result, revenue was ¥4,935 million, up 4.7% year on year, while segment profit before allocation of corporate overhead was ¥548 million, down 32.7%.」

    Water revenue increased year on year, while segment profit fell 32.7%, continuing the trend of higher revenue but lower profit.
  23. FY2020-Q2Continued revenue growth and profit declineAnnual report

    「As a result, revenue was ¥3,342 million, up 5.6% year on year, while segment profit before allocation of corporate overhead was ¥442 million, down 24.5%.」

    Water revenue increased year on year, while segment profit fell 24.5%, continuing the trend of higher revenue but lower profit.
  24. FY2020-Q1Higher revenue and lower earningsAnnual report

    「As a result, revenue was ¥1,633 million, up 2.3% year on year, while segment profit before allocation of corporate overhead was ¥216 million, down 26.4%.」

    Water revenue increased year on year, while segment profit declined.
  25. FY2019AdvancedAnnual report

    「Bottled-water shipments increased 3.0% year on year on a 12-liter-bottle-equivalent basis. ... As a result, revenue was ¥6,268 million, up 6.5% from the previous consolidated fiscal year, while operating profit before allocation of corporate overhead was ¥1,053 million, up 0.2%.」

    Water shipments increased 3.0% year on year, revenue increased 6.5%, and segment profit increased 0.2%, indicating specific progress for the full year.
  26. FY2019-Q3AdvancedAnnual report

    「Although industry competition has intensified alongside market growth, the company differentiates itself by supplying water produced from high-quality natural spring water at competitive prices. In addition, amid the social issue of rising logistics costs caused by labor shortages, it strengthened its face-to-face sales channel through individual home deliveries using its own distribution network, while pursuing cost reductions, service improvements and customer development. As a result, bottled-water shipments increased 3.2% year on year on a 12-liter-bottle-equivalent basis. Revenue was ¥4,714 million, up 6.2% year on year, while segment profit before allocation of corporate overhead was ¥814 million, up 0.6%.」

    The company continued to differentiate itself through natural-water quality and pricing and its own delivery network, and shipments, revenue and segment profit all increased year on year.
  27. FY2019-Q2AdvancedAnnual report

    「The company has focused on high-quality natural spring-water brands and pursued further customer development through a differentiation strategy based on its own home-delivery service, which it has developed as a management strategy alongside a competitive pricing policy, amid the social issue of rising logistics costs caused by labor shortages. Average temperatures in the second quarter reached an unprecedented level of extreme heat, increasing demand for water, and bottled-water shipments increased 4.3% year on year on a 12-liter-bottle-equivalent basis. As a result, revenue was ¥3,165 million, up 6.2% year on year, while segment profit before allocation of corporate overhead was ¥586 million, up 2.6%, resulting in higher revenue and profit.」

    The company continued to differentiate itself through its natural-water brands and in-house delivery while developing customers, and second-quarter shipments, revenue and segment profit all increased year on year.
  28. FY2019-Q1AdvancedAnnual report

    「Although competition in the industry, including from new entrants, has intensified, the company has worked to develop customers through a differentiation strategy focused on high-quality natural spring-water brands. In addition, demand for water increased as average temperatures in the first quarter reached an unprecedented level of extreme heat, and bottled-water shipments increased 4.8% year on year on a 12-liter-equivalent basis. As a result, revenue was ¥1,595 million, up 8.0% year on year, while segment profit before allocation of corporate overhead was ¥294 million, up 7.2%, resulting in higher revenue and profit.」

    The company continued developing customers through its high-quality natural-water brands, and first-quarter shipments, revenue and segment profit all increased year on year.
  29. FY2018-Q3AdvancedAnnual report

    「As a result, revenue was ¥4,440 million, down 1.1% year on year, while segment profit before allocation of corporate overhead was ¥809 million, up 6.2%.」

    Water revenue fell 1.1% year on year, while segment profit was ¥809 million, up 6.2%.
  30. FY2018-Q2AdvancedAnnual report

    「As a result, revenue was ¥2,981 million, down 2.8% year on year, while segment profit before allocation of corporate overhead increased to ¥571 million, up 10.8%, as the switch of all bottles imported from Hawaii to Pure Hawaiian bottles produced at the company’s own plant reduced the cost of sales.」

    Water revenue fell 2.8% year on year, while segment profit was ¥571 million, up 10.8%. The complete switch to Pure Hawaiian bottles produced at the company’s own plant was cited as a factor behind the earnings increase.
  31. FY2018-Q1AdvancedAnnual report

    「Bottle sales volumes increased year on year, but new installations were delayed because priority was given to replacing existing customers’ servers as the hydrogen-water servers were upgraded to a high dissolved-hydrogen concentration of 4.1 ppm, resulting in lower revenue year on year. On the earnings front, profit increased substantially as the company switched all bottles imported from Hawaii to Pure Hawaiian bottles produced at its own plant, reducing the cost of sales. As a result, revenue was ¥1,478 million, down 4.4% year on year, while segment profit before allocation of corporate overhead was ¥274 million, up 38.6%.」

    Water sales volumes and segment profit increased, with segment profit reaching ¥274 million, up 38.6% year on year. Revenue, however, fell 4.4% year on year because priority was given to replacing servers.
  32. FY2017AdvancedAnnual report

    「Both Alpina and Pure Hawaiian returned to growth. As a result, revenue was ¥5,872 million, down 2.4% from the previous consolidated fiscal year, while segment profit before allocation of corporate overhead was ¥983 million, up 1.5%.」

    The full-year results show progress, with sales volumes for both brands returning to growth and Water segment profit increasing 1.5% year on year.
  33. FY2017-Q3RestatedAnnual report

    「In the Water business, we have worked to expand the business platform for the Alpina and Pure Hawaiian brands, using a commitment to high-quality source water as the branding strategy and competitive pricing as the foundation of the sales strategy for differentiation, while also focusing on sales of high-concentration hydrogen-water dispensers as products that enhance the added value of bottled water.」

    The policy of growing the Water business by expanding the business platforms of its 2 brands, centered on high quality and price competitiveness, remains in place.
  34. FY2017-Q2AdvancedAnnual report

    「As a result, revenue was ¥3,066 million, up 0.7% year on year, and segment profit before allocation of administrative expenses was ¥515 million, up 5.0% year on year.」

    Specific progress is shown in the Water business, where revenue and segment profit before allocation of administrative expenses increased year on year.
  35. FY2017-Q1RestatedAnnual report

    「Meanwhile, in the Water business, we will work to expand the business platform by making a commitment to high-quality source water and competitive pricing the foundation of our branding strategy for pure water as a differentiation strategy, while also」

    The policy of positioning the Water business as an area for expanding the business platform, based on high-quality source water and competitive pricing, remains in place.
  36. FY2016First statedAnnual report

    「In the Water business, we will pursue differentiation through a branding strategy for pure water centered on a commitment to the quality of the source water and competitive pricing.」

    The company has identified the Water business as a growth area and plans to differentiate it through source-water quality, price competitiveness and branding.
Moved together

"Securing operating profit despite declining sales" moved the same way as this thread, in the same document, in 7 of its 38 moves.

766554★123456
  1. ★This thread
  2. 1Securing operating profit despite declining sales7×
  3. 2Uncertainty in the Overseas Economy and Business Environment Due to Developments Surrounding the Novel Infectious Disease6×
  4. 3Consolidation of domestic water production at the Omachi plant6×
  5. 4Import Price and Exchange Rate Fluctuations and the Time Lag in Sales Price Revisions5×
  6. 5Shareholder Returns through Share Repurchases5×
  7. 6Aligning interests with shareholders and fostering a focus on corporate value through restricted stock compensation4×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

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No upcoming earnings preview for Toell yet. It last moved in the Earnings of 2026-09-11: "Other".
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Expanding and Growing the Water Business Foundation | Toell Co.,Ltd. (3361) | Komori