Return to operating profitability despite lower revenue
First written in FY2017-Q1. 10 of 34 entries say "Worsened", first in FY2019-Q1. Latest entry: 2026-08-06.
Hodogaya Chemical moved to the "Worse" side of this theme in 2019, 1 year before the typical company in this theme (2020).
The whole theme swung hardest in 2026: 11 of 52 companies on the "Worse" side.
1 other company's latest entry also says "Mitigated".
- 2026-08-06MitigatedEarnings presentation
「First-quarter results for fiscal 2026 are progressing generally in line with the full-year earnings forecast announced at the beginning of the fiscal year.」
Consolidated net sales increased 12.5% year on year and operating income increased 63.4%, improving from lower revenue and profit in the previous full fiscal year to higher revenue and profit. - FY2026WorsenedAnnual report
「As described in “(1) Overview of Operating Results, etc., ① Operating Results,” the Group recorded lower revenue and lower profit in the consolidated fiscal year under review.」
The company shifted from revenue and profit growth in the previous fiscal year to lower revenue and profit, with revenue down 1.1% and operating profit down 23.9%. - FY2026-H1WorsenedAnnual report
「Net sales decreased by ¥4,061 million year on year, or 15.3%, to ¥22,546 million. Operating profit decreased by ¥2,821 million year on year, or 64.8%, to ¥1,532 million, mainly due to lower sales of OLED materials and other factors.」
Compared with full-year revenue and profit growth in the previous fiscal year, revenue declined 15.3% and operating profit declined 64.8% in the current interim consolidated accounting period. The company remained in the black at the operating profit level. - FY2025AdvancedAnnual report
「For the current fiscal year, net sales increased by ¥4,316 million year on year, or 9.8%, to ¥48,578 million. In terms of earnings, operating profit increased by ¥924 million year on year, or 23.4%, to ¥4,875 million.」
The company progressed from the previous fiscal year's trend of lower sales and lower profit to higher sales and higher profit for the full fiscal year, with net sales up 9.8% and operating profit up 23.4%. - FY2025-H1AdvancedAnnual report
「Against this backdrop, net sales for the six-month consolidated period increased by ¥6,156 million year on year, or 30.1%, to ¥26,607 million, mainly due to increased sales of OLED materials, particularly in the Functional Dyes segment. In terms of earnings, operating profit also increased, mainly due to higher sales of OLED materials, rising by ¥3,109 million year on year, or 249.7%, to ¥4,354 million.」
Driven mainly by increased sales of OLED materials, net sales increased 30.1% year on year and operating profit increased 249.7%, marking a significant shift from the lower sales and lower profit trend of the previous year to higher sales and higher profit. - FY2024-Q3SoftenedAnnual report
「Against this backdrop, net sales for the nine-month consolidated period decreased by ¥181 million year on year, or 0.6%, to ¥31,642 million. In terms of earnings, operating profit decreased by ¥719 million year on year, or 23.0%, to ¥2,412 million.」
Lower sales and lower profit continued, but the rate of decline in operating profit narrowed from 36.6% in the previous quarter's cumulative period to 23.0%, and operating profit remained positive. - FY2024-Q2SoftenedAnnual report
「Against this backdrop, net sales for the six-month consolidated period decreased by ¥127 million year on year, or 0.6%, to ¥20,451 million. In terms of earnings, operating profit decreased by ¥717 million year on year, or 36.6%, to ¥1,245 million.」
Lower sales and lower profit continued, but the rate of decline in operating profit narrowed from 66.3% in the first quarter to 36.6%. Operating profit remained positive. - FY2024-Q1WorsenedAnnual report
「In terms of earnings, operating profit decreased by ¥664 million year on year, or 66.3%, to ¥337 million.」
Although net sales increased 0.8%, operating profit decreased 66.3% year on year to ¥337 million, with the decline in profit widening from the nine-month cumulative period of the previous fiscal year. - FY2023-Q3SoftenedAnnual report
「In terms of earnings, operating profit decreased by ¥1,850 million year on year, or 37.1%, to ¥3,132 million.」
Operating profit continued to decline, but the rate of decline narrowed from 41.6% in the previous quarter's cumulative period to 37.1%. Net sales increased 2.3% year on year. - FY2023-Q2WorsenedAnnual report
「In terms of earnings, operating profit decreased by ¥1,398 million year on year, or 41.6%, to ¥1,963 million.」
The year-on-year rate of decline in operating profit widened from 36.3% in the first quarter to 41.6%, and the decline in profit became larger even as net sales increased 1.2%. - FY2023-Q1WorsenedAnnual report
「Against this backdrop, net sales for the three-month consolidated period decreased by ¥208 million year on year, or 2.0%, to ¥9,965 million. In terms of earnings, operating profit decreased by ¥570 million year on year, or 36.3%, to ¥1,001 million.」
The company shifted from higher sales and higher profit for the previous full fiscal year to 2.0% lower sales and 36.3% lower operating profit in the current quarter. Operating profit remained positive. - FY2022AdvancedAnnual report
「For the consolidated fiscal year, net sales increased by ¥679 million year on year, or 1.6%, to ¥41,879 million. In terms of earnings, operating profit increased by ¥976 million year on year, or 17.9%, to ¥6,421 million, owing mainly to higher net sales and other factors.」
The company posted higher sales and higher profit for the full fiscal year, with net sales of ¥41,879 million and operating profit of ¥6,421 million. - FY2022-Q3AdvancedAnnual report
「Against this backdrop, net sales for the nine-month consolidated period were ¥31,107 million, compared with ¥29,626 million in the same period of the previous year. In terms of earnings, operating profit was ¥4,982 million, compared with ¥4,261 million in the same period of the previous year.」
Net sales were ¥31,107 million and operating profit was ¥4,982 million, exceeding ¥29,626 million and ¥4,261 million, respectively, in the same period of the previous year. - FY2022-Q2AdvancedAnnual report
「Against this backdrop, net sales for the six-month consolidated period were ¥20,329 million, compared with ¥19,420 million in the same period of the previous year. In terms of earnings, operating profit was ¥3,361 million, compared with ¥2,792 million in the same period of the previous year.」
Net sales and operating profit increased from ¥19,420 million and ¥2,792 million, respectively, in the same period of the previous year to ¥20,329 million and ¥3,361 million. Year-on-year percentage changes are not presented because the revenue recognition accounting standard was applied. - FY2022-Q1WorsenedAnnual report
「Against this backdrop, net sales for the three-month consolidated period were ¥10,173 million, compared with ¥10,353 million in the same period of the previous year. In terms of earnings, operating profit was ¥1,571 million, compared with ¥2,260 million in the same period of the previous year.」
Operating profit remained positive, but both net sales and operating profit fell below the same period of the previous year, shifting the results from higher sales and higher profit to lower sales and lower profit. - FY2021-Q3AdvancedAnnual report
「Against this backdrop, net sales for the nine-month consolidated period increased by ¥2,207 million year on year, or 8.1%, to ¥29,626 million. In terms of earnings, operating profit increased by ¥2,504 million year on year, or 142.6%, to ¥4,261 million, owing mainly to higher net sales and other factors.」
Higher sales and higher profit continued, with net sales up 8.1% year on year and operating profit up 142.6% to ¥4,261 million. - FY2021-Q2RestatedAnnual report
「Against this backdrop, net sales for the six-month consolidated period increased by ¥1,870 million year on year, or 10.7%, to ¥19,420 million. In terms of earnings, operating profit increased by ¥1,980 million year on year, or 244.0%, to ¥2,792 million, owing mainly to higher net sales and other factors.」
Higher sales and higher profit were confirmed for the second consecutive quarter. Net sales increased 10.7%, and operating profit increased 244.0%. - FY2021-Q1ReframedAnnual report
「Against this backdrop, net sales for the three-month consolidated period increased by ¥1,856 million year on year, or 21.9%, to ¥10,353 million. In terms of earnings, operating profit increased by ¥1,788 million year on year, or 378.3%, to ¥2,260 million, owing to higher net sales.」
The earnings profile shifted from a trend of lower sales and lower profit to higher sales and higher profit, with net sales up 21.9% and operating profit up 378.3%. - FY2020SoftenedAnnual report
「The Group's operating results for the consolidated fiscal year were characterized by higher sales and lower profit, as described in “(1) Overview of Operating Results, etc., ① Operating Results.”」
Net sales returned to year-on-year growth of 0.6%, while operating profit declined 4.2%. The earnings profile shifted from lower sales and lower profit to higher sales and lower profit. - FY2020-Q3SoftenedAnnual report
「Against this backdrop, net sales for the nine-month consolidated period increased by ¥596 million year on year, or 2.2%, to ¥27,418 million. In terms of earnings, operating profit decreased by ¥374 million year on year, or 17.6%, to ¥1,756 million, owing mainly to higher cost of sales.」
Net sales returned to year-on-year growth of 2.2%. Operating profit continued to decline, but the rate of decline narrowed from 28.1% in the previous quarter to 17.6%. - FY2020-Q2WorsenedAnnual report
「Against this backdrop, net sales for the six-month consolidated period increased by ¥335 million year on year, or 2.0%, to ¥17,549 million. In terms of earnings, operating profit decreased by ¥317 million year on year, or 28.1%, to ¥811 million, owing mainly to higher cost of sales.」
Although net sales increased 2.0%, operating profit decreased 28.1% to ¥811 million owing mainly to higher cost of sales, indicating a decline in profit following the lower sales and lower profit in the previous quarter. - FY2020-Q1WorsenedAnnual report
「Against this backdrop, net sales for the three-month consolidated period decreased by ¥56 million year on year, or 0.7%, to ¥8,497 million. In terms of earnings, operating profit decreased by ¥142 million year on year, or 23.2%, to ¥472 million, owing mainly to lower net sales.」
Operating profit remained positive, but declined 23.2% year on year, with lower sales and lower profit also evident in the current quarter. - FY2019SoftenedAnnual report
「In terms of earnings, operating profit decreased by ¥874 million from the previous fiscal year, or 22.4%, to ¥3,028 million, owing mainly to lower net sales.」
Although lower profit resulting from lower sales continued, operating profit remained positive, and the rate of decline in operating profit improved from 28.8% for the nine-month period to 22.4% for the full fiscal year. - FY2019-Q3SoftenedAnnual report
「Against this backdrop, net sales for the nine-month consolidated period decreased by ¥1,332 million year on year, or 4.7%, to ¥26,822 million. In terms of earnings, operating profit decreased by ¥861 million year on year, or 28.8%, to ¥2,131 million, owing mainly to lower net sales.」
Lower sales and lower profit, as well as positive operating profit, continued, but the year-on-year rate of decline in sales improved from 9.1% in the previous quarter to 4.7%, while the rate of decline in operating profit improved from 44.8% to 28.8%. - FY2019-Q2SoftenedAnnual report
「Against this backdrop, net sales for the six-month consolidated period decreased by ¥1,724 million year on year, or 9.1%, to ¥17,213 million. In terms of earnings, operating profit decreased by ¥917 million year on year, or 44.8%, to ¥1,129 million, owing mainly to lower net sales.」
Lower sales and lower profit continued, but the year-on-year rates of decline improved from 12.0% for sales and 52.8% for operating profit in the previous quarter to 9.1% and 44.8%, respectively. Operating profit remained positive. - FY2019-Q1WorsenedAnnual report
「Against this backdrop, net sales for the three-month consolidated period decreased by ¥1,166 million year on year, or 12.0%, to ¥8,553 million. In terms of earnings, operating profit decreased by ¥688 million year on year, or 52.8%, to ¥615 million, owing mainly to lower net sales.」
The company shifted from higher sales and higher profit to lower sales and lower profit, with operating profit declining 52.8% year on year to ¥615 million. Operating profit nevertheless remained positive. - FY2018-Q3AdvancedAnnual report
「Against this backdrop, net sales for the nine-month consolidated period increased by ¥4,478 million year on year, or 18.9%, to ¥28,154 million, mainly due to growth in the Functional Dyes segment driven by increased demand for OLED materials and dye materials. In terms of earnings, operating profit increased by ¥2,094 million year on year, or 233.3%, to ¥2,992 million, owing mainly to higher net sales.」
Accompanied by higher net sales, operating profit increased 233.3% year on year to ¥2,992 million, with earnings improvement progressing through the nine-month period. - FY2018-Q2ReframedAnnual report
「In terms of earnings, operating profit increased by ¥1,521 million year on year, or 289.1%, to ¥2,047 million, owing mainly to higher net sales.」
The explanation of earnings improvement has shifted from a return to operating profitability despite lower sales to a substantial increase in operating profit accompanied by higher net sales. - FY2018-Q1AdvancedAnnual report
「In terms of earnings, operating profit increased by ¥1,114 million year on year, or 589.4%, to ¥1,303 million, owing mainly to higher net sales.」
Operating profit increased from ¥189 million in the same period of the previous year to ¥1,303 million, with earnings improvement progressing in the first quarter. - FY2017-Q3AdvancedAnnual report
「In terms of profit and loss, although revenue declined, operating profit increased by ¥893 million year on year to ¥897 million, due to cost reductions, raw materials and fuel remaining at low prices, and other factors.」
While net sales declined 2.0% year on year, operating profit increased from ¥4 million in the same period of the previous year to ¥897 million, with earnings improvement progressing through the nine-month period. - FY2017-Q2RestatedAnnual report
「In terms of profit and loss, although revenue declined, operating profit increased by ¥508 million year on year to ¥526 million, due to raw materials and fuel remaining at low prices, cost reductions and other factors.」
The company continued to secure and improve operating profit despite lower sales through the six-month period. - FY2017-Q1.Annual report
「Although revenue declined, operating profit increased by ¥346 million year on year to ¥189 million, helped by lower raw-material and fuel prices and cost reductions.」
The company returned from an operating loss in the prior-year period to operating profitability in the current quarter.