Improving Office Furniture Profitability through API Initiatives, 5S Activities and Standardization of Materials
First written in FY2018. 2 of 7 entries say "Advanced", first in FY2020. Latest entry: FY2022.
Inaba Seisakusho moved to the "Worse" side of this theme in 2022, 1 year before the typical company in this theme (2023).
11 other companies' latest entry also says "Worsened".
- FY2022WorsenedAnnual report
「The office furniture business reported revenue of ¥10,933 million, down 4.4% from the previous fiscal year, and segment profit of ¥43 million, down 89.0%.」
While profitability improvements from rationalization and cost reductions continued, full-year segment profit in the office furniture business fell 89.0% year on year due to the pullback from large projects and deteriorating profit margins. - FY2022-Q3WorsenedAnnual report
「The office furniture business reported revenue of ¥8,323 million, down 9.9% year on year, and segment profit of ¥50 million, down 89.3% year on year.」
Office furniture segment profit fell sharply from ¥472 million in the same period of the previous year to ¥50 million, indicating a retreat in the profitability improvements previously attributed to rationalization and cost reductions. - FY2022-Q2Profitability improvement retreatsAnnual report
「For the cumulative second quarter of the fiscal year, revenue was ¥4,833 million, down 12.9% year on year, and the segment recorded a loss of ¥203 million, compared with a profit of ¥148 million in the same period of the previous year.」
Compared with the profitability improvements from rationalization and cost reductions described through the previous fiscal year, the office furniture business shifted from a profit to a loss this quarter due to lower sales and deteriorating profit margins. - FY2021-Q1AdvancedAnnual report
「As a result, office furniture sales were ¥2,477 million, up 1.6% year on year, an increase of ¥38 million from the same period of the previous year. Segment loss improved by ¥49 million year on year, to a loss of ¥18 million, compared with a loss of ¥67 million in the same period of the previous year, due to higher sales and lower costs.」
The company states that lower costs, together with higher sales, led to a ¥49 million improvement in the segment loss, indicating concrete progress in improving profitability. - FY2020AdvancedAnnual report
「Segment profit increased to ¥137 million from ¥97 million in losses in the previous fiscal year, driven by price revisions and controls on selling, general and administrative expenses, among other factors, improving profitability.」
The company advanced price revisions and controls on selling, general and administrative expenses in the office furniture business, reporting improved profitability. - FY2020-Q2RestatedAnnual report
「In terms of earnings, profit margins improved as a result of rationalization and cost reductions, and the loss narrowed from the same period of the previous year.」
The company continued rationalization and cost reductions in the office furniture business, resulting in improved profit margins and a smaller loss. - FY2018First statedAnnual report
「Specifically, efforts include continuing the previously initiated “API activities” and “5S+S campaign” to improve productivity and operations, standardizing components across Inaba and OEM products, reducing the number of components, and making products lighter.」
The company identifies API activities, the 5S+S campaign, component standardization, component-count reduction and product weight reduction as specific measures to address the office furniture business’s high-cost structure.