Profit improvement despite declining revenue
First written in FY2016. 1 of 34 entries say "Cited as achieved", first in 2026-05-13. Latest entry: 2026-05-13.
The whole theme swung hardest in 2020: 24 of 107 companies on the "Worse" side.
13 other companies' latest entry also says "Cited as achieved".
- 2026-05-13Cited as achievedResults presentation
「Consolidated net sales decreased by ¥14.3 billion, or 10.1%, year on year to ¥127.8 billion, due to the withdrawal from the superabsorbent polymer business and intensified competition from low-priced Chinese products. Operating income increased by ¥1.56 billion, or 18.6%, year on year to ¥10.0 billion, reflecting strong performance in the semiconductor field, improved profitability following the withdrawal from the above business and greater efficiency across the entire supply chain.」
The company has updated the full-year results to show lower sales but higher operating income. - FY2026-H1First-half results updatedAnnual report
「Under these conditions, revenue for the six months ended 30 September was ¥63.779 billion, down 17.2% year on year, mainly due to the withdrawal from the superabsorbent polymer business and intensified competition from low-priced Chinese products. In terms of earnings, operating profit was ¥4.290 billion, down 3.7% year on year. Although profitability improved following the withdrawal from the superabsorbent polymer business, this was insufficient to offset the negative impact of lower revenue and other factors.」
First-half revenue decreased 17.2% year on year and operating profit decreased 3.7%. The company explained that although profitability improved following its withdrawal from the superabsorbent polymer business, it was unable to fully offset the impact of lower revenue and competition from low-priced Chinese products. - FY2025Annual Results UpdateAnnual report
「As a result, revenue for the fiscal year was ¥142.258 billion, down 10.8% year on year, mainly due to the withdrawal from the superabsorbent polymer business and other operations. In terms of earnings, operating profit was ¥8.439 billion, up 72.7% year on year, due to strong performance in the advanced semiconductor field, expansion of sales of high-value-added products, and improved profitability from structural reforms.」
The annual results show that revenue declined due to the withdrawal from businesses, while operating profit increased substantially as a result of the advanced semiconductor business, high-value-added products, and structural reforms. - FY2025-H1First-half results updatedAnnual report
「Under these conditions, revenue for the six months ended 30 September was ¥77.030 billion, down 2.8% year on year, mainly due to the impact of withdrawing from the superabsorbent polymer business and other operations. In terms of earnings, operating profit was ¥4.453 billion, up 120.5% year on year, due to the recovery in demand from the automotive and semiconductor sectors, as well as improved profitability following the withdrawal from the businesses mentioned above.」
First-half revenue decreased 2.8% year on year, while operating profit increased 120.5%. The company explained that revenue declined following its withdrawal from the superabsorbent polymer business and other operations, but earnings were boosted by recovering automotive and semiconductor demand and improved profitability. - FY2024Annual Results UpdateAnnual report
「Revenue for the fiscal year was ¥159.510 billion, down 8.8% year on year. In terms of earnings, operating profit was ¥4.886 billion, down 39.8%, due to lower sales volumes and higher depreciation expenses following the launch of a new core system. Ordinary profit was ¥8.186 billion, down 17.5%, and net loss attributable to owners of the parent was ¥8.501 billion.」
Full-year revenue decreased 8.8% and operating profit decreased 39.8%; net income attributable to owners of the parent turned from a profit of ¥5.684 billion to a loss of ¥8.501 billion. - FY2024-Q3Third-Quarter Results UpdateAnnual report
「Under these conditions, revenue for the nine months ended 31 December was ¥122.132 billion, down 9.0% year on year, mainly due to lower sales volumes. In terms of earnings, operating profit was ¥4.217 billion, down 35.0%, ordinary profit was ¥6.884 billion, down 22.6%, and net profit attributable to owners of the parent was ¥2.980 billion, down 52.6%, mainly due to lower sales volumes.」
The nine-month results have been updated, with revenue, operating profit, ordinary profit, and net profit attributable to owners of the parent down 9.0%, 35.0%, 22.6%, and 52.6%, respectively, year on year. - FY2024-Q2First-half results updatedAnnual report
「Under these conditions, revenue for the six months ended 30 September was ¥79.278 billion, down 10.4% year on year, mainly due to lower sales volumes. In terms of earnings, operating profit was ¥2.020 billion, down 46.9%, and ordinary profit was ¥4.947 billion, down 32.8%, mainly due to lower sales volumes. Net profit attributable to owners of the parent was ¥4.398 billion, down 6.8%, mainly due to gains on the sale of investment securities.」
For the six months, revenue decreased 10.4%, operating profit decreased 46.9%, ordinary profit decreased 32.8%, and net profit attributable to owners of the parent decreased 6.8%. Gains on the sale of investment securities were recognized, while operating profit and other earnings declined due to lower sales volumes. - FY2024-Q1Quarterly Results UpdatedAnnual report
「Under these conditions, revenue for the three months ended 30 June was ¥38.914 billion, down 12.2% year on year, mainly due to lower sales volumes. In terms of earnings, operating profit was ¥704 million, down 63.1%, and ordinary profit was ¥2.842 billion, down 33.3%, mainly due to lower sales volumes. Net profit attributable to owners of the parent was ¥2.960 billion, up 16.7%, mainly due to gains on the sale of investment securities.」
For the first quarter, revenue decreased 12.2%, operating profit decreased 63.1%, and ordinary profit decreased 33.3%, while net profit attributable to owners of the parent increased 16.7% due to gains on the sale of investment securities. - FY2023Annual Results UpdateAnnual report
「Under these conditions, revenue for the fiscal year was ¥174.973 billion, up 7.7% year on year, mainly due to revisions to selling prices in response to higher raw material prices. In terms of earnings, operating profit was ¥8.405 billion, down 29.2%, ordinary profit was ¥9.918 billion, down 22.3%, and net profit attributable to owners of the parent was ¥5.684 billion, down 15.2%, due to lower sales volumes and higher selling, general and administrative expenses.」
Full-year revenue increased 7.7% year on year, while operating profit decreased 29.2%, ordinary profit decreased 22.3%, and net profit attributable to owners of the parent decreased 15.2%. - FY2023-Q3Quarterly Results UpdatedAnnual report
「Under these conditions, revenue for the nine months ended 31 December was ¥134.183 billion, up 11.0% year on year, mainly due to revisions to selling prices in response to higher raw material prices. In terms of earnings, operating profit was ¥6.656 billion, down 30.7%, due to lower sales volumes and higher selling, general and administrative expenses. Ordinary profit was ¥8.899 billion, down 21.8%, and net profit attributable to owners of the parent was ¥6.284 billion, down 16.2%.」
For the nine months, revenue increased 11.0% year on year, while operating profit decreased 30.7%, ordinary profit decreased 21.8%, and quarterly profit attributable to owners of the parent decreased 16.2%. - FY2023-Q2Quarterly Results UpdatedAnnual report
「Under these conditions, revenue for the six months ended 30 September was ¥88.439 billion, up 14.1% year on year, mainly due to revisions to selling prices in response to higher raw material prices. In terms of earnings, operating profit was ¥3.932 billion, down 33.6%, due to lower sales volumes, narrower trading spreads in response to higher raw material prices, and higher selling, general and administrative expenses. Ordinary profit was ¥7.368 billion, up 7.4%, mainly due to higher foreign exchange gains, and net profit attributable to owners of the parent was ¥4.719 billion, up 6.8%.」
For the six months, revenue increased 14.1% year on year, while operating profit decreased 33.6%; ordinary profit and profit attributable to owners of the parent increased due to higher foreign exchange gains. - FY2023-Q1Quarterly Results UpdatedAnnual report
「Under these conditions, revenue for the three months ended 30 June was ¥44.336 billion, up 16.5% year on year, mainly due to revisions to selling prices in response to higher raw material prices. In terms of earnings, operating profit was ¥1.956 billion, down 36.7%, due to narrower trading spreads in response to higher raw material prices and lower sales volumes, while ordinary profit was ¥4.259 billion, up 18.9%, mainly due to higher foreign exchange gains, and net profit attributable to owners of the parent was ¥2.536 billion, up 15.6%.」
First-quarter revenue increased 16.5%, while operating profit decreased 36.7%; ordinary profit and profit attributable to owners of the parent increased due to higher foreign exchange gains. - FY2022-Q3Quarterly Results UpdatedAnnual report
「Under these conditions, revenue for the nine months ended 31 December was ¥120.846 billion, up 13.6% year on year. In terms of earnings, operating profit was ¥9.600 billion, up 8.5%, ordinary profit was ¥11.373 billion, up 29.0%, mainly due to higher equity in earnings of affiliates, and net profit attributable to owners of the parent was ¥7.502 billion, up 71.4%, mainly due to higher revenue.」
The year-on-year results for nine-month revenue, operating profit, ordinary profit, and net profit attributable to owners of the parent have been updated. - FY2022-Q2Quarterly Results UpdatedAnnual report
「Under these conditions, revenue for the six months ended 30 September was ¥77.519 billion, up 17.6% year on year. In terms of earnings, operating profit was ¥5.918 billion, up 28.7%, ordinary profit was ¥6.861 billion, up 56.9%, mainly due to higher equity in earnings of affiliates, and net profit attributable to owners of the parent was ¥4.418 billion, up 89.6%, mainly due to higher revenue.」
The year-on-year results for first-half revenue, operating profit, ordinary profit, and net profit attributable to owners of the parent have been updated. - FY2022-Q1Quarterly Results UpdatedAnnual report
「Under these conditions, revenue for the three months ended 30 June was ¥38.057 billion, up 16.0% year on year. In terms of earnings, operating profit was ¥3.091 billion, up 26.0%, ordinary profit was ¥3.581 billion, up 37.3%, and net profit attributable to owners of the parent was ¥2.193 billion, up 47.2%, mainly due to higher revenue.」
The quarterly results have been updated, with first-quarter revenue up 16.0%, operating profit up 26.0%, ordinary profit up 37.3%, and net profit attributable to owners of the parent up 47.2%. - FY2021Annual Results UpdateAnnual report
「Under these conditions, revenue for the fiscal year was ¥144.757 billion, down 6.9% year on year, mainly due to revisions to product prices in response to lower raw material prices. Operating profit was ¥11.932 billion, down 4.1%, ordinary profit was ¥11.999 billion, down 5.6%, mainly due to lower equity in earnings of affiliates, and net profit attributable to owners of the parent was ¥7.282 billion, down 5.0%, mainly due to losses recognized in connection with the cancellation of the management integration.」
The full-year results for revenue, operating profit, ordinary profit, and net profit attributable to owners of the parent have been updated. - FY2021-Q3Quarterly Results UpdatedAnnual report
「Under these conditions, revenue for the nine months ended 31 December was ¥106.332 billion, down 9.7% year on year, due to lower sales volumes and revisions to product prices in response to lower raw material prices. In terms of earnings, operating profit was ¥8.850 billion, up 1.5%, ordinary profit was ¥8.814 billion, down 4.3%, mainly due to lower equity in earnings of affiliates, and net profit attributable to owners of the parent was ¥4.377 billion, down 26.0%, mainly due to losses recognized in connection with the cancellation of the management integration.」
For the nine months, revenue decreased 9.7% year on year, operating profit increased 1.5%, ordinary profit decreased 4.3%, and net profit attributable to owners of the parent decreased 26.0%. - FY2021-Q2Quarterly Results UpdatedAnnual report
「Under these conditions, revenue for the six months ended 30 September was ¥65.933 billion, down 15.4% year on year, due to lower sales volumes and revisions to product prices in response to lower raw material prices. In terms of earnings, operating profit was ¥4.599 billion, down 22.1%, mainly due to lower revenue, ordinary profit was ¥4.374 billion, down 25.8%, mainly due to lower equity in earnings of affiliates, and net profit attributable to owners of the parent was ¥2.330 billion, down 38.6%.」
For the six months, revenue decreased 15.4%, operating profit decreased 22.1%, ordinary profit decreased 25.8%, and net profit attributable to owners of the parent decreased 38.6%. - FY2021-Q1Quarterly Results UpdatedAnnual report
「Under these conditions, revenue for the three months ended 30 June was ¥32.813 billion, down 16.5% year on year, mainly due to lower sales volumes. In terms of earnings, operating profit was ¥2.453 billion, down 15.6%, ordinary profit was ¥2.608 billion, down 10.0%, and net profit attributable to owners of the parent was ¥1.490 billion, down 16.9%, mainly due to lower revenue.」
Against the backdrop of the spread of COVID-19 and other factors, revenue, operating profit, ordinary profit, and net profit attributable to owners of the parent all fell below the levels of the same period of the previous year. - FY2020-Q3Quarterly Results UpdatedAnnual report
「Under these conditions, revenue for the nine months ended 31 December was ¥117.728 billion, down 4.4% year on year, mainly due to lower sales volumes. In terms of earnings, operating profit was ¥8.717 billion, down 14.5%, ordinary profit was ¥9.208 billion, down 25.6%, due mainly to foreign exchange losses and lower equity in earnings of affiliates, and net profit attributable to owners of the parent was ¥5.919 billion, down 35.3%, mainly due to lower revenue.」
For the nine months, revenue decreased 4.4% year on year, operating profit decreased 14.5%, ordinary profit decreased 25.6%, and net profit attributable to owners of the parent decreased 35.3%. - FY2020-Q2Quarterly Results UpdatedAnnual report
「Under these conditions, revenue for the six months ended 30 September was ¥77.948 billion, down 4.9% year on year, mainly due to lower sales volumes. In terms of earnings, operating profit was ¥5.906 billion, down 13.0%, ordinary profit was ¥5.894 billion, down 31.3%, due mainly to foreign exchange losses and lower equity in earnings of affiliates, and net profit attributable to owners of the parent was ¥3.792 billion, down 36.2%, mainly due to lower revenue.」
First-half revenue decreased 4.9% year on year, operating profit decreased 13.0%, ordinary profit decreased 31.3%, and net profit attributable to owners of the parent decreased 36.2%. - FY2020-Q1Quarterly Results UpdatedAnnual report
「Under these conditions, revenue for the three months ended 30 June was ¥39.277 billion, down 4.9% year on year, mainly due to lower sales volumes. In terms of earnings, operating profit was ¥2.905 billion, down 19.1%, ordinary profit was ¥2.898 billion, down 37.7%, and net profit attributable to owners of the parent was ¥1.794 billion, down 43.4%, mainly due to lower revenue.」
For the first quarter, revenue decreased 4.9% year on year, operating profit decreased 19.1%, ordinary profit decreased 37.7%, and net profit attributable to owners of the parent decreased 43.4%. - FY2019Annual Results UpdateAnnual report
「Under these conditions, revenue for the fiscal year was ¥161.599 billion, down 0.1% year on year, mainly due to lower sales volumes despite revisions to selling prices in response to higher raw material prices. In terms of earnings, operating profit was ¥12.919 billion, up 7.7%, and ordinary profit was ¥15.205 billion, up 9.7%, mainly due to improved trading spreads and higher sales volumes of high-margin products.」
Full-year revenue decreased 0.1% year on year, while operating profit increased 7.7% and ordinary profit increased 9.7%. - FY2019-Q3Quarterly Results UpdatedAnnual report
「Under these conditions, revenue for the nine months ended 31 December was ¥123.194 billion, up 1.8% year on year, mainly due to revisions to selling prices in response to higher raw material prices. In terms of earnings, operating profit was ¥10.196 billion, up 8.3%, ordinary profit was ¥12.371 billion, up 10.7%, and net profit attributable to owners of the parent was ¥9.148 billion, up 18.3%, mainly due to higher sales volumes of high-margin products.」
For the nine months, revenue increased 1.8% year on year, operating profit increased 8.3%, ordinary profit increased 10.7%, and net profit attributable to owners of the parent increased 18.3%. - FY2019-Q2Quarterly Results UpdatedAnnual report
「Under these conditions, revenue for the six months ended 30 September was ¥81.957 billion, up 5.0% year on year, mainly due to revisions to selling prices in response to higher raw material prices. In terms of earnings, operating profit was ¥6.790 billion, up 15.5%, ordinary profit was ¥8.579 billion, up 23.8%, and net profit attributable to owners of the parent was ¥5.948 billion, up 24.4%, mainly reflecting higher revenue.」
For the first half, revenue increased 5.0%, operating profit increased 15.5%, ordinary profit increased 23.8%, and net profit attributable to owners of the parent increased 24.4%. - FY2019-Q1Quarterly Results UpdatedAnnual report
「Under these conditions, net sales for the first quarter of the current consolidated cumulative period were ¥41.293 billion, up 6.6% year on year, due to selling-price revisions accompanying higher raw material prices and other factors. On the earnings side, operating profit rose 13.1% to ¥3.59 billion, ordinary profit rose 22.7% to ¥4.654 billion, and quarterly net income attributable to owners of the parent rose 24.6% to ¥3.17 billion, reflecting higher net sales and other factors.」
For the first quarter, net sales rose 6.6% year on year, operating profit rose 13.1%, ordinary profit rose 22.7% and quarterly net income attributable to owners of the parent rose 24.6%. - FY2018Annual Results UpdateAnnual report
「Under these conditions, net sales for the current consolidated fiscal year were ¥161.692 billion, up 7.7% year on year, due to increased sales volume, selling-price revisions accompanying higher raw material prices and other factors. On the earnings side, although sales volume increased, operating profit declined 12.1% to ¥11.999 billion, ordinary profit declined 9.6% to ¥13.866 billion, and net income attributable to owners of the parent declined 9.0% to ¥9.272 billion, due to the narrowing of trading spreads accompanying higher raw material prices and other factors.」
Full-year net sales rose 7.7%, while operating profit declined 12.1%, ordinary profit declined 9.6% and net income attributable to owners of the parent declined 9.0%. - FY2018-Q3Quarterly Results UpdatedAnnual report
「Under these conditions, net sales for the first 9 months of the current consolidated cumulative period were ¥120.984 billion, up 8.5% year on year, due to increased sales volume, selling-price revisions accompanying higher raw material prices and other factors. On the earnings side, although sales volume increased, operating profit declined 15.1% to ¥9.412 billion, ordinary profit declined 10.4% to ¥11.173 billion, and quarterly net income attributable to owners of the parent declined 9.9% to ¥7.733 billion, due to the narrowing of trading spreads accompanying higher raw material prices and other factors.」
For the first 9 months, net sales rose 8.5% year on year, while operating profit declined 15.1%, ordinary profit declined 10.4% and quarterly net income attributable to owners of the parent declined 9.9%. - FY2018-Q2Quarterly Results UpdatedAnnual report
「Under these conditions, net sales for the first half of the current consolidated cumulative period were ¥78.075 billion, up 8.4% year on year, due to increased sales volume, selling-price revisions accompanying higher raw material prices and other factors. On the earnings side, although sales volume increased, operating profit declined 21.9% to ¥5.88 billion, ordinary profit declined 7.2% to ¥6.93 billion, and quarterly net income attributable to owners of the parent declined 7.3% to ¥4.78 billion, due to the narrowing of trading spreads accompanying higher raw material prices and other factors.」
For the first half, net sales rose 8.4% year on year, while operating profit declined 21.9%, ordinary profit declined 7.2% and quarterly net income attributable to owners of the parent declined 7.3%. - FY2018-Q1Quarterly Results UpdatedAnnual report
「Under these conditions, net sales for the first quarter of the current consolidated cumulative period were ¥38.735 billion, up 4.3% year on year, due to increased sales volume, selling-price revisions accompanying higher raw material prices and other factors. On the earnings side, although sales volume increased, operating profit declined 20.4% to ¥3.175 billion, ordinary profit declined 0.5% to ¥3.793 billion, and quarterly net income attributable to owners of the parent declined 0.3% to ¥2.543 billion, due to the narrowing of trading spreads accompanying higher raw material prices and other factors.」
For the first quarter, net sales rose 4.3% year on year, while operating profit declined 20.4%, ordinary profit declined 0.5% and quarterly net income attributable to owners of the parent declined 0.3%. - FY2017-Q3Quarterly Results UpdatedAnnual report
「Under these conditions, net sales for the first 9 months of the current consolidated cumulative period were limited to ¥111.531 billion, down 6.4% year on year, as all segments were affected by selling-price revisions accompanying the decline in raw material prices. On the earnings side, operating profit rose 19.3% to ¥11.08 billion, ordinary profit rose 21.7% to ¥12.471 billion, and quarterly net income attributable to owners of the parent rose 41.1% to ¥8.583 billion, reflecting the impact of lower raw material prices, increased sales volume and cost reductions, among other factors.」
For the first 9 months, net sales declined 6.4% year on year, while operating profit rose 19.3%, ordinary profit rose 21.7% and quarterly net income attributable to owners of the parent rose 41.1%. - FY2017-Q2Quarterly Results UpdatedAnnual report
「Under these conditions, net sales for the first half of the current consolidated cumulative period were ¥72.35 billion, down 8.2% year on year, due to selling-price revisions accompanying the decline in raw material prices and other factors. On the earnings side, operating profit rose 25.0% to ¥7.524 billion, ordinary profit rose 14.4% to ¥7.466 billion, and quarterly net income attributable to owners of the parent rose 43.2% to ¥5.155 billion, reflecting the impact of lower raw material prices and cost reductions, among other factors.」
For the first half, net sales declined 8.2% year on year, while operating profit rose 25.0%, ordinary profit rose 14.4% and quarterly net income attributable to owners of the parent rose 43.2%. - FY2017-Q1Quarterly Results UpdatedAnnual report
「Under these conditions, net sales for the first quarter of the current consolidated cumulative period were ¥37.41 billion, down 6.0% year on year, due to selling-price revisions accompanying the decline in raw material prices and other factors. On the earnings side, operating profit rose 24.9% to ¥3.987 billion, ordinary profit rose 6.4% to ¥3.81 billion, and quarterly net income attributable to owners of the parent rose 17.5% to ¥2.55 billion, reflecting the continued decline in raw material prices and increased sales volume.」
Net sales declined 6.0% year on year, while operating profit rose 24.9%, ordinary profit rose 6.4% and quarterly net income attributable to owners of the parent rose 17.5%. - FY2016First statedAnnual report
「Net sales were limited to ¥157.92 billion, down 5.4% year on year, as all segments were affected by selling-price revisions accompanying the decline in raw material prices. However, on the earnings side, operating profit rose 39.6% year on year to ¥12.486 billion, ordinary profit rose 29.3% to ¥13.294 billion, and net income attributable to owners of the parent rose 17.9% to ¥6.926 billion, reflecting lower raw material prices, the weaker yen and cost reductions, among other factors. All three measures therefore posted substantial year-on-year increases.」
We explain that net sales declined due to selling-price revisions resulting from lower raw material prices, while profit increased due to raw material prices, foreign exchange and cost reductions.