Surge in Ocean Freight Costs
First written in FY2023-Q2. 3 of 6 entries say "Restated". Latest entry: FY2024.
The whole theme swung hardest in 2022: 11 of 24 companies on the "Worse" side.
9 other companies' latest entry also says "Mitigated".
- FY2024MitigatedAnnual report
「Meanwhile, as semiconductor shortages and higher raw material and transportation costs eased, orders for car seats and airbags increased, while quality improvements and cost-reduction activities at each site proved effective, resulting in higher revenue and profit.」
The company states that the increase in transportation costs has eased, and that the impact of higher ocean freight costs has weakened from the previous fiscal year. - FY2024-Q3RestatedAnnual report
「In the overseas business (January–September 2023), the shortages of semiconductors and increases in raw material prices and transportation costs began to ease, while orders for automotive seats and airbags increased」
The company continues to recognize that the increase in raw material prices and transportation costs has eased in the overseas business. - FY2024-Q1MitigatedAnnual report
「In the overseas business from January to March 2023, the semiconductor shortage and increases in raw-material prices and transportation costs eased, and new business involving vehicle-seat materials was launched. However, the business was significantly affected by weak sales of Japanese automakers in China, resulting in lower revenue and lower profit.」
The company states that the increase in transportation costs in the overseas business has eased, and that the impact of higher ocean freight costs was weaker than in the previous fiscal year. Meanwhile, weak sales in China became a new factor behind lower revenue and profit. - FY2023RestatedAnnual report
「Although profits were significantly affected by soaring raw-material prices and, additionally, higher ocean freight costs, profits increased as a result of cost reductions, including through greater operating efficiency, as in Japan.」
While the impact of higher ocean freight costs continued, the overseas business posted higher profit through greater operating efficiency and expense reductions. - FY2023-Q3RestatedAnnual report
「Although profits were significantly affected by soaring raw-material prices and, additionally, higher ocean freight costs, profits increased as a result of cost reductions, including through greater operating efficiency, as in Japan.」
Although the impact of higher ocean freight costs remained significant, the overseas business posted higher profit due to expense reductions. - FY2023-Q2First statedAnnual report
「On the earnings side, the overseas business was significantly affected by higher raw material prices and, in addition, higher ocean freight costs, resulting in lower earnings.」
Higher ocean freight costs were first disclosed separately as a factor reducing overseas earnings, with the actual impact on performance described.