Higher SG&A Expenses and Pressure on Profit from Increased Staffing Across the Workforce
First written in FY2024-Q1. 2 of 4 entries say "Worsened", first in FY2024. Latest entry: FY2026.
Fines moved to the "Worse" side of this theme in 2026, 2 years after the typical company in this theme (2024).
The whole theme swung hardest in 2018: 1 of 6 companies on the "Worse" side.
3 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「SG&A expenses for the consolidated fiscal year were ¥2,053.340 million.」
SG&A expenses increased from ¥1,806.938 million in the previous fiscal year due to the launch of new services, M&A-related expenses and growth investments and PMI expenses in the HR business, weighing on profit. - FY2025MitigatedAnnual report
「SG&A expenses for the fiscal year were ¥1,806.938 million, down 6.3% year on year. This was mainly due to a ¥60.643 million decrease in salaries and allowances, a ¥12.141 million decrease in recruitment expenses, a ¥25.898 million decrease in rent following the reduction in head-office relocation-related costs incurred in the previous fiscal year, a ¥21.771 million decrease in commissions paid and a ¥14.636 million decrease in supplies expense.」
Headcount-related and head-office relocation costs that weighed on profit in the previous fiscal year declined, and SG&A expenses fell 6.3% year on year. - FY2024WorsenedAnnual report
「SG&A expenses for the fiscal year were ¥1,927.601 million, up 13.4% year on year. This was mainly due to a ¥26.254 million increase in salaries and allowances resulting from active mid-career hiring, a ¥29.354 million increase in recruitment expenses and a ¥55.081 million increase in rent due to the relocation of the head office.」
SG&A expenses increased 13.4% year on year due to mid-career hiring and the head-office relocation, weighing on operating profit. - FY2024-Q1First statedAnnual report
「On a year-on-year basis, SG&A expenses, including personnel expenses and related costs, increased as the entire workforce expanded, weighing on profit at each level.」
The increase in SG&A expenses, including personnel expenses, associated with the expansion of the entire workforce was cited as a factor weighing on profit at each level year on year.