Inventory write-down risk associated with expansion of the purchase-based model
First written in FY2017. 21 of 35 entries say "Worsened", first in FY2019-Q1. Latest entry: 2026-10-15.
Jade Group moved to the "Worse" side of this theme in 2018, 6 years before the typical company in this theme (2024).
The whole theme swung hardest in 2018: 11 of 37 companies on the "Worse" side.
41 other companies' latest entry also says "Worsened".
- 2026-10-15WorsenedEarnings
「This was mainly due to an increase of ¥564.606 million in merchandise.」
商品残高が前年度末の2,746,567千円から3,311,174千円へ増加し、在庫エクスポージャーが拡大した。 - FY2027-H1WorsenedAnnual report
「This was mainly due to an increase of ¥564.606 million in merchandise.」
Merchandise increased from ¥2,746.567 million at the end of the previous fiscal year to ¥3,311.174 million, expanding inventory exposure. - 2026-07-15WorsenedEarnings
「これは、主に法人税等の納付により現金及び預金が628,716千円減少した一方で、売掛金が469,660千円増加、商品が158,483千円増加したことによるものであります。」
商品残高が前年度末から158,483千円増加し、在庫エクスポージャーが拡大している。 - FY2026Higher inventory balance, lower valuation lossAnnual report
「Merchandise 2,154,633 2,746,567 The closing inventory balance is stated after a write-down to reflect the decline in profitability, and the following inventory valuation loss is included in cost of sales: ¥251,116 thousand for the current consolidated fiscal year.」
The merchandise balance increased from ¥2,154,633 thousand at the end of the previous fiscal year to ¥2,746,567 thousand, while the inventory valuation loss decreased from ¥309,173 thousand to ¥251,116 thousand. Inventory exposure and the valuation loss moved in opposite directions. - FY2026-H1WorsenedAnnual report
「Merchandise 2,154,633 2,346,191」
The merchandise balance increased by ¥191,557 thousand from ¥2,154,633 thousand at the end of the previous fiscal year to ¥2,346,191 thousand, increasing inventory exposure. - FY2025WorsenedAnnual report
「The closing inventory balance is stated after a write-down to reflect the decline in profitability, and the following inventory valuation loss is included in cost of sales: ¥309,173 thousand for the current consolidated fiscal year.」
The merchandise balance decreased from ¥2,977,941 thousand at the end of the previous fiscal year to ¥2,154,633 thousand, while the inventory valuation loss increased from ¥136,535 thousand to ¥309,173 thousand. - FY2025-H1MitigatedAnnual report
「Merchandise 2,977,941 2,676,481」
The merchandise balance decreased from ¥2,977,941 thousand at the end of the previous fiscal year to ¥2,676,481 thousand, reducing inventory exposure from the end of the most recent fiscal year. - FY2025-Q1Slight increase in inventory balanceAnnual report
「Merchandise 2,977,941 3,029,538」
The consolidated merchandise balance increased from ¥2,977,941 thousand at the end of the previous fiscal year to ¥3,029,538 thousand. No inventory write-down for the current quarter is disclosed. - FY2024Higher inventory balance, lower valuation lossAnnual report
「The period-end inventory balance is stated after a write-down of its carrying value due to reduced profitability, and the following inventory valuation loss is included in cost of sales: ¥136.535 million for the current consolidated fiscal year.」
The consolidated inventory valuation loss declined from ¥229.058 million in the previous fiscal year to ¥136.535 million. Meanwhile, the merchandise balance increased from ¥2,234.437 million at the end of the previous fiscal year to ¥2,977.941 million due to RBKJ's expansion of its product range, indicating greater inventory exposure. - FY2024-Q3WorsenedAnnual report
「Current assets at the end of the third quarter of the current consolidated fiscal year increased by ¥899.562 million from the end of the previous consolidated fiscal year to ¥8,594.592 million. This was mainly due to a ¥877.105 million increase in merchandise resulting from RBKJ's expansion of its product range.」
The merchandise balance increased by ¥877.105 million from the end of the previous fiscal year due to RBKJ's expansion of its product range, indicating that consolidated inventory exposure has increased further. - FY2024-Q2WorsenedAnnual report
「Current assets at the end of the second quarter of the current consolidated fiscal year increased by ¥766.285 million from the end of the previous consolidated fiscal year to ¥8,461.315 million. This was mainly due to a ¥670.863 million increase in merchandise resulting from RBKJ's expansion of its product range.」
The merchandise balance increased by ¥670.863 million from the end of the previous fiscal year due to RBKJ's expansion of its product range, indicating greater consolidated inventory exposure. - FY2024-Q1WorsenedAnnual report
「Current assets at the end of the first quarter of the current consolidated fiscal year increased by ¥307.968 million from the end of the previous consolidated fiscal year to ¥8,002.997 million. This was mainly due to a ¥272.003 million increase in merchandise resulting from RBKJ's expansion of its product range.」
The merchandise balance increased by ¥272.003 million from the end of the previous consolidated fiscal year due to RBKJ's expansion of its product range, indicating greater consolidated inventory exposure. No inventory valuation loss is reported. - FY2023WorsenedAnnual report
「The period-end inventory balance is stated after a write-down of its carrying value due to reduced profitability, and the following inventory valuation loss is included in cost of sales: ¥229.058 million for the current consolidated fiscal year.」
An inventory valuation loss of ¥229.058 million was recorded on a consolidated basis, up from ¥150.910 million in the previous fiscal year. The inventory write-down risk has worsened in terms of actual results. - FY2023-Q3Increase in inventory balance due to consolidation and high consignment ratioAnnual report
「Merchandise ¥2,073.896 million Consignment-model gross merchandise value ratio 89.1%」
The merchandise balance was ¥2,073.896 million, while the consignment-model gross merchandise value ratio remained high at 89.1%. Because this includes the start of consolidation of RBKJ, it cannot be directly compared with the standalone figures through the previous quarter. - FY2023-Q2MitigatedAnnual report
「Previous fiscal year (28 February 2022): 1,018,063; current second-quarter accounting period (31 August 2022): 829,240」
The merchandise balance declined from ¥1,018.063 million at the end of the previous fiscal year to ¥829.240 million. The consignment-model gross merchandise value ratio also increased from 84.2% in the same period of the previous year to 88.5%, indicating that inventory exposure associated with the purchase model had decreased from the most recent fiscal year-end. - FY2023-Q1MitigatedAnnual report
「Merchandise 1,018,063 986,614」
The merchandise balance declined from ¥1,018.063 million at the end of the previous fiscal year to ¥986.614 million, indicating that inventory exposure associated with the expansion of the purchase model had decreased from the most recent fiscal year-end. - FY2022MitigatedAnnual report
「Merchandise: ¥1,018.063 million. The period-end inventory balance is stated after a write-down of its carrying value due to reduced profitability, and the inventory valuation loss for the current fiscal year was ¥150.910 million.」
Inventory write-downs continued to occur, but the merchandise balance declined from ¥1,264.452 million in the previous fiscal year to ¥1,018.063 million, while the valuation loss declined from ¥188.563 million to ¥150.910 million. - FY2022-Q3RestatedAnnual report
「During the cumulative third-quarter period, there were no new business risks and no material changes in the business risks described in the annual securities report for the preceding fiscal year.」
States that there have been no material changes to the risk of inventory write-downs associated with expanding the purchase model. - FY2022-Q2RestatedAnnual report
「During the cumulative second-quarter period, there were no new business risks and no material changes in the business risks described in the annual securities report for the preceding fiscal year.」
States that there have been no material changes to the risk of inventory write-downs associated with expanding the purchase model. - FY2022-Q1WorsenedAnnual report
「This was mainly due to increases of ¥51.196 million in cash and deposits and ¥68.594 million in merchandise from the expansion of purchased products, resulting from the increase in net sales.」
The merchandise balance increased by ¥68.594 million from the end of the previous fiscal year due to the expansion of purchased products, indicating greater inventory exposure associated with the purchase model. It does not state that an inventory valuation loss was recorded for the current quarter. - FY2021WorsenedAnnual report
「The period-end inventory balance is stated after a write-down of its carrying value due to reduced profitability, and the following inventory valuation loss is included in cost of sales: ¥188.563 million for the current consolidated fiscal year.」
The inventory valuation loss increased from ¥131.154 million in the previous fiscal year to ¥188.563 million, indicating that inventory risk associated with the purchase model increased in actual results. - FY2021-Q3WorsenedAnnual report
「This was mainly due to increases of ¥953.068 million in cash and deposits and ¥484.228 million in notes and accounts receivable from the increase in net sales, as well as a ¥264.819 million increase in merchandise from the expansion of purchased products.」
Merchandise increased by ¥264.819 million from the end of the previous consolidated fiscal year due to the expansion of purchased products, indicating that inventory exposure associated with the purchase model has increased further. No quantified inventory valuation loss is reported. - FY2021-Q2WorsenedAnnual report
「Consignment-model gross merchandise value ratio 86.8% 76.9%」
The consignment-model gross merchandise value ratio declined from 86.8% in the same period of the previous year to 76.9%, indicating a relative increase in inventory exposure, including products under the purchase model. - FY2020WorsenedAnnual report
「The period-end inventory balance is stated after a write-down of its carrying value due to reduced profitability, and the following inventory valuation loss is included in cost of sales: ¥131.154 million for the current consolidated fiscal year.」
An inventory write-down of ¥131.154 million was recorded again during the current fiscal year. The merchandise balance was ¥1,151.118 million, indicating continued inventory exposure associated with the expansion of the purchase model. - FY2020-Q3WorsenedAnnual report
「Current assets at the end of the third quarter of the current consolidated fiscal year increased by ¥102.618 million from the end of the previous consolidated fiscal year to ¥4,842.726 million. This was mainly due to increases of ¥434.680 million in merchandise from the expansion of purchased products and ¥204.810 million in notes and accounts receivable from the increase in net sales, partly offset by a ¥547.643 million decrease in cash and deposits due to the acquisition of shares in an affiliated company, the acquisition of treasury shares and other factors.」
The merchandise balance increased by ¥434.680 million from the end of the previous consolidated fiscal year due to the expansion of purchased products, indicating that inventory exposure associated with the purchase model has increased further. - FY2020-Q2WorsenedAnnual report
「This was mainly due to a ¥286.825 million increase in merchandise from the expansion of purchased products, partly offset by an ¥819.251 million decrease in cash and deposits due to the acquisition of shares in an affiliated company, the acquisition of treasury shares and other factors.」
The merchandise balance increased by ¥286.825 million from the end of the previous consolidated fiscal year due to the expansion of purchased products, indicating greater inventory exposure associated with the purchase model. - FY2020-Q1WorsenedAnnual report
「This was mainly due to a ¥352.402 million increase in notes and accounts receivable from the expansion of EC services and a ¥92.981 million increase in merchandise from the expansion of purchased products, partly offset by a ¥630.862 million decrease in cash and deposits due to the acquisition of shares in an affiliated company and other factors.」
The merchandise balance increased by ¥92.981 million from the end of the previous consolidated fiscal year due to the expansion of purchased products, indicating greater inventory exposure associated with the purchase model. - FY2019MaterialisedAnnual report
「The period-end inventory balance is stated after a write-down of its carrying value due to reduced profitability, and the following inventory valuation loss is included in cost of sales: ¥147.886 million for the current consolidated fiscal year.」
Inventory risk materialized during the full fiscal year, with an inventory valuation loss of ¥147.886 million recorded on a consolidated basis. - FY2019-Q2WorsenedAnnual report
「This was mainly due to a ¥176.896 million increase in purchased products and a ¥94.659 million increase in accounts receivable from the expansion of EC services, partly offset by a ¥285.705 million decrease in cash and deposits due to the increase in purchased products, capital investment and advertising expenses.」
The merchandise balance increased from ¥466.696 million at the end of the previous fiscal year to ¥643.592 million due to the increase in purchased products, while the consignment-model gross merchandise value ratio declined to 85.6%, indicating greater inventory exposure associated with the purchase model. - FY2019-Q1WorsenedAnnual report
「Current assets at the end of the first quarter of the current fiscal year increased by ¥26.323 million from the end of the previous fiscal year to ¥3,975.346 million. This was mainly due to an increase of ¥188.340 million in accounts receivable from the expansion of EC services and an increase of ¥158.442 million in merchandise from the expansion of purchased products, partly offset by a ¥403.316 million decrease in cash and deposits due to the acquisition of shares in an affiliated company and other factors. Consignment-model gross merchandise value ratio 87.5% 84.3%」
Merchandise increased by ¥158.442 million due to the expansion of purchased products, while the consignment-model gross merchandise value ratio declined from 87.5% in the same period of the previous year to 84.3%. This indicates a greater weighting toward the purchase model and an increase in inventory, but does not state that a valuation loss was recorded during the quarter. - FY2018MaterialisedAnnual report
「The period-end inventory balance is stated after a write-down of its carrying value due to reduced profitability, and the following inventory valuation loss is included in the cost of merchandise sold: ¥57.233 million for the current fiscal year.」
States that an inventory valuation loss of ¥57.233 million was recorded during the current fiscal year in connection with the inventory write-down risk associated with the purchase model. - FY2017First statedAnnual report
「As the proportion of the purchase model increases, if changes in market trends or customer preferences cause product sales to differ significantly from the Company's expectations, the Company may have to record inventory write-downs, which could affect its performance.」
While the consignment model does not involve inventory risk, inventory write-downs are identified as a risk when the purchase model expands.