Operating Profit Turns Profitable Despite Lower Sales, While Ordinary Profit and Net Income Decline
First written in FY2017-Q1. 17 of 39 entries say "Reframed", first in FY2019-Q2. Latest entry: 2026-07-30.
Nichia Steel Works moved to the "Worse" side of this theme in 2024, 5 years after the typical company in this theme (2019).
The whole theme swung hardest in 2019: 6 of 21 companies on the "Worse" side.
4 other companies' latest entry also says "Reframed".
- FY2026ReframedAnnual report
「Revenue was ¥33,793 million, down ¥333 million (1.0%) from the previous fiscal year due to lower sales volumes. Although sales volumes declined, operating profit increased ¥82 million (6.1%) to ¥1,431 million and ordinary profit increased ¥89 million (4.2%) to ¥2,229 million due to improved selling prices in response to higher costs and cost-reduction measures. Net income attributable to owners of the parent declined ¥47 million (4.5%) to ¥1,017 million due mainly to the recognition of a loss on the liquidation of an unprofitable affiliated company in Thailand as an extraordinary loss.」
Although operating profit and ordinary profit increased despite lower revenue, net income attributable to owners of the parent declined due to liquidation losses at an affiliated company in Thailand and other factors. - FY2026-H1WorsenedAnnual report
「Revenue for the interim consolidated accounting period was ¥16,544 million, down ¥346 million (2.1%) year on year due to lower sales volumes. Although factors increasing profit, including improved selling prices, exceeded higher costs, lower sales volumes resulted in operating profit of ¥453 million, down ¥213 million (32.0%), and ordinary profit of ¥820 million, down ¥118 million (12.6%). Interim net loss attributable to owners of the parent was ¥20 million, a decline of ¥488 million from the previous year’s interim net income attributable to owners of the parent of ¥468 million, following the recognition of a loss on the liquidation of an affiliated company as an extraordinary loss.」
From higher revenue and operating profit in the previous interim period, the company turned to lower revenue and earnings in the current interim period, with the recognition of a loss on the liquidation of an affiliated company resulting in an interim net loss attributable to owners of the parent. - FY2025ReframedAnnual report
「Revenue was ¥34,126 million, down ¥370 million (1.1%) from the previous fiscal year due to lower sales volumes. In terms of earnings, although sales volumes declined, operating profit increased ¥13 million (1.0%) to ¥1,349 million and ordinary profit increased ¥15 million (0.7%) to ¥2,140 million, owing mainly to efforts to improve selling prices in response to higher costs. Net income attributable to owners of the parent declined ¥193 million (15.3%) to ¥1,065 million, as extraordinary losses increased due to the dismantling and disposal of an old warehouse following a seismic assessment and liquidation losses associated with the resolution to dissolve a subsidiary in China.」
Revenue declined for the fiscal year, while operating profit and ordinary profit increased due to improved selling prices and other factors. Net income attributable to owners of the parent declined due to the dismantling and disposal of an old warehouse and liquidation losses at a Chinese subsidiary. - FY2025-H1ReframedAnnual report
「In terms of earnings, factors increasing profit, including improved selling prices and inventory valuation differences, exceeded factors reducing profit, including higher costs and lower sales volumes. Operating profit was ¥666 million, up ¥39 million (6.3%) year on year, and ordinary profit was ¥939 million, up ¥22 million (2.5%). However, interim net income attributable to owners of the parent declined ¥24 million (4.9%) to ¥468 million, due to higher extraordinary losses, including provisions for dismantling and removal costs and losses on the disposal of fixed assets.」
While operating profit and ordinary profit increased on higher revenue, interim net income attributable to owners of the parent declined due to higher extraordinary losses, including provisions for dismantling and removal costs and losses on the disposal of fixed assets. - FY2024RestatedAnnual report
「Revenue was ¥34,497 million, up ¥422 million (1.2%) from the previous fiscal year. Although the improvement in selling prices exceeded the increase in variable costs, the effects of inventory valuation differences and lower sales volumes were significant. Operating profit was ¥1,335 million, down ¥486 million (26.7%); ordinary profit was ¥2,124 million, down ¥164 million (7.2%); and profit attributable to owners of the parent was ¥1,258 million, down ¥74 million (5.6%).」
Revenue increased for the fiscal year, while operating profit, ordinary profit and profit attributable to owners of the parent declined due to inventory valuation differences and lower sales volumes. - FY2024-Q3WorsenedAnnual report
「Revenue for the first 9 months of the current fiscal year was ¥25,861 million, up ¥494 million (1.9%) year on year. Although the improvement in average selling prices exceeded the increase in variable costs, the effects of inventory valuation differences and lower sales volumes were significant. Operating profit was ¥952 million, down ¥429 million (31.1%); ordinary profit was ¥1,388 million, down ¥409 million (22.8%); and profit attributable to owners of the parent was ¥784 million, down ¥227 million (22.5%).」
Although higher revenue was secured, operating profit, ordinary profit and profit attributable to owners of the parent declined year on year due to the effects of inventory valuation differences and lower sales volumes, making the pattern of higher revenue but lower earnings through the previous quarter more pronounced. - FY2024-Q2ReframedAnnual report
「Revenue for the first 6 months of the current fiscal year was ¥16,807 million, up ¥738 million (4.6%) year on year. Although the improvement in average selling prices exceeded the increase in variable costs, the effects of inventory valuation differences and lower sales volumes were significant. Operating profit was ¥627 million, down ¥84 million (11.9%); ordinary profit was ¥916 million, down ¥172 million (15.9%); and profit attributable to owners of the parent was ¥492 million, down ¥147 million (23.1%).」
Although higher revenue was maintained, operating profit also turned down from the increase in the previous quarter, as inventory valuation differences and lower sales volumes pushed down earnings. - FY2024-Q1ReframedAnnual report
「Revenue for the first quarter of the current fiscal year was ¥8,188 million, up ¥383 million (4.9%) year on year. In terms of earnings, factors increasing profit, including improved selling prices, slightly outweighed factors reducing profit, including higher variable costs, lower sales volumes and inventory valuation differences. As a result, operating profit was ¥304 million, up ¥31 million (11.6%). However, ordinary profit declined ¥21 million (3.7%) to ¥553 million due mainly to deterioration in overseas investment gains and losses and lower foreign exchange gains. Profit attributable to owners of the parent declined ¥55 million (15.4%) to ¥302 million.」
While operating profit increased on higher revenue, ordinary profit declined due mainly to deterioration in overseas investment gains and losses and lower foreign exchange gains, and profit attributable to owners of the parent also declined. The differences between the respective levels of profit were updated. - FY2023ReframedAnnual report
「Revenue was ¥34,075 million, up ¥3,354 million (10.9%) from the previous fiscal year; operating profit was ¥1,822 million, down ¥190 million (9.5%); ordinary profit was ¥2,289 million, down ¥331 million (12.6%); and profit attributable to owners of the parent was ¥1,332 million, down ¥382 million (22.3%).」
Although revenue increased for the fiscal year, operating profit, ordinary profit and profit attributable to owners of the parent declined due mainly to lower volumes of ordinary wire products and special wire products. - FY2023-Q3RestatedAnnual report
「However, due mainly to a significant decline in sales volumes of ordinary wire products and special wire products, operating profit was ¥1,381 million, down ¥228 million (14.2%) year on year; ordinary profit was ¥1,798 million, down ¥280 million (13.5%); and profit attributable to owners of the parent was ¥1,011 million, down ¥362 million (26.4%).」
Although improved selling prices and other factors increased revenue, operating profit, ordinary profit and profit attributable to owners of the parent continued to decline year on year due mainly to lower volumes of ordinary wire products and special wire products. - FY2023-Q2RestatedAnnual report
「Revenue for the first 6 months of the current fiscal year was ¥16,069 million, up ¥1,303 million (8.8%) year on year, owing to improved selling prices and higher sales volumes of wire products for bolts and screws. However, due mainly to a significant decline in sales volumes of ordinary wire products and special wire products, operating profit was ¥711 million, down ¥298 million (29.6%); ordinary profit was ¥1,089 million, down ¥191 million (15.0%); and profit attributable to owners of the parent was ¥640 million, down ¥190 million (22.9%).」
While improved selling prices and higher volumes of wire products for bolts and screws increased revenue, operating profit, ordinary profit and net income declined year on year due mainly to lower volumes of ordinary wire products and special wire products. - FY2023-Q1ReframedAnnual report
「Revenue for the first quarter of the current fiscal year was ¥7,804 million, up ¥755 million (10.7%) year on year, as improved selling prices offset a decline in sales volumes of ordinary wire products and special wire products. However, due mainly to the significant increase in the costs of primary and secondary raw materials and energy, operating profit was ¥273 million, down ¥228 million (45.5%); ordinary profit was ¥574 million, down ¥114 million (16.6%); and profit attributable to owners of the parent was ¥357 million, down ¥91 million (20.3%).」
While improved selling prices secured higher revenue, operating profit, ordinary profit and profit attributable to owners of the parent declined year on year due to higher raw-material and energy costs. - FY2022AdvancedAnnual report
「Revenue was ¥30,720 million, up ¥2,904 million (10.4%) from the previous fiscal year; operating profit was ¥2,012 million, up ¥522 million (35.0%); ordinary profit was ¥2,620 million, up ¥698 million (36.4%); and profit attributable to owners of the parent was ¥1,715 million, up ¥381 million (28.6%).」
Compared with the decline in revenue and earnings in the previous fiscal year, revenue, operating profit, ordinary profit and profit attributable to owners of the parent all increased, resulting in higher revenue and earnings. - FY2022-Q3AdvancedAnnual report
「Revenue for the first 9 months of the current fiscal year was ¥23,066 million, up ¥2,921 million (14.5%) year on year, owing to higher sales volumes, mainly of bolt products and special wire products, as well as improved selling prices reflecting higher costs for primary and secondary raw materials and energy. In terms of earnings, in addition to higher sales volumes, improved selling prices and cost-reduction measures, gains on the valuation of product inventories contributed to operating profit of ¥1,609 million, up ¥734 million (84.0%) year on year; ordinary profit of ¥2,078 million, up ¥868 million (71.8%); and profit attributable to owners of the parent of ¥1,373 million, up ¥317 million (30.1%).」
Revenue and operating profit, ordinary profit and profit attributable to owners of the parent all increased year on year, resulting in higher revenue and earnings, compared with the declines in revenue and earnings in the same period of the previous year. - FY2022-Q2AdvancedAnnual report
「In terms of earnings, driven by higher sales volumes, improved selling prices and cost-reduction measures, operating profit was ¥1,010 million, up ¥666 million (194.0%) from the same period of the previous year; ordinary profit was ¥1,281 million, up ¥726 million (131.1%); and profit attributable to owners of the parent was ¥830 million, up ¥430 million (107.4%).」
Compared with the declines in revenue and earnings in the same period of the previous year, operating profit, ordinary profit and profit attributable to owners of the parent all increased, indicating progress in earnings improvement. - FY2022-Q1AdvancedAnnual report
「Revenue for the three-month period ended in the first quarter was ¥7,048 million, an increase of ¥879 million, or 14.3%, from the same period of the previous year. Operating profit increased ¥255 million, or 103.6%, to ¥501 million, ordinary profit increased ¥271 million, or 65.0%, to ¥689 million, and net income attributable to owners of the parent increased ¥148 million, or 49.5%, to ¥449 million, supported mainly by higher sales volumes, together with sales price improvements and cost reduction measures.」
From the trend of lower revenue and profit in the same period of the previous year, the company shifted to higher revenue and profit, with revenue, operating profit, ordinary profit and net income attributable to owners of the parent all increasing. - FY2021ReframedAnnual report
「Revenue decreased ¥3,122 million, or 10.1%, from the previous fiscal year to ¥27,816 million, operating profit decreased ¥259 million, or 14.8%, to ¥1,490 million, and ordinary profit decreased ¥112 million, or 5.5%, to ¥1,921 million. Meanwhile, net income attributable to owners of the parent increased ¥949 million, or 247.0%, to ¥1,333 million due to higher extraordinary gains, including gains on liquidation of affiliates, and a substantial decrease in extraordinary losses, including impairment losses on investment securities, from the previous fiscal year.」
Although revenue, operating profit and ordinary profit declined, net income attributable to owners of the parent increased substantially due to higher extraordinary gains, including gains on liquidation of affiliates, and lower extraordinary losses, including impairment losses on investment securities. - FY2021-Q3ReframedAnnual report
「Revenue for the nine-month period ended in the third quarter was ¥20,145 million, a decrease of ¥3,266 million, or 14.0%, from the same period of the previous year. Operating profit decreased ¥441 million, or 33.5%, to ¥874 million, and ordinary profit decreased ¥365 million, or 23.2%, to ¥1,209 million. Net income attributable to owners of the parent increased ¥137 million, or 15.0%, to ¥1,056 million, due to increases in extraordinary gains, including gains on liquidation of affiliates, and a substantial decrease in extraordinary losses, including impairment losses on investment securities, from the same period of the previous year.」
Although revenue, operating profit and ordinary profit declined, net income attributable to owners of the parent increased due to higher extraordinary gains, including gains on liquidation of affiliates, and lower extraordinary losses, including impairment losses on investment securities. - FY2021-Q2ReframedAnnual report
「Revenue for the six-month period ended in the second quarter was ¥12,560 million, a decrease of ¥2,813 million, or 18.3%, from the same period of the previous year. Operating profit decreased ¥384 million, or 52.8%, to ¥343 million, and ordinary profit decreased ¥316 million, or 36.3%, to ¥554 million. Net income attributable to owners of the parent decreased ¥31 million, or 7.4%, to ¥400 million, limited by a substantial decrease in extraordinary losses, including impairment losses on investment securities, from the same period of the previous year.」
Although net income attributable to owners of the parent increased in the previous quarter because no impairment loss on investment securities was recorded, revenue, operating profit, ordinary profit and net income all decreased year on year in the current quarter. - FY2021-Q1ReframedAnnual report
「Revenue for the three-month period ended in the first quarter was ¥6,169 million, a decrease of ¥1,353 million, or 18.0%, from the same period of the previous year. Operating profit decreased ¥106 million, or 30.2%, to ¥246 million, and ordinary profit decreased ¥54 million, or 11.6%, to ¥417 million. Meanwhile, as no impairment loss on investment securities was recorded in the current period, net income attributable to owners of the parent increased ¥152 million, or 103.7%, to ¥300 million.」
Although revenue and profit declined due to the COVID-19 pandemic, net income attributable to owners of the parent increased because no impairment loss on investment securities was recorded, highlighting the differing results at each profit stage. - FY2020ReframedAnnual report
「Revenue decreased slightly by ¥308 million, or 1.0%, from the previous fiscal year to ¥30,939 million, while operating profit increased ¥589 million, or 50.8%, to ¥1,750 million and ordinary profit increased ¥511 million, or 33.6%, to ¥2,033 million. Net income attributable to owners of the parent decreased ¥595 million, or 60.8%, to ¥384 million.」
Although revenue declined slightly, operating profit and ordinary profit increased, while net income attributable to owners of the parent declined significantly due to impairment losses on investment securities and other items. The divergence by profit stage also became clear on a full-year basis. - FY2020-Q3AdvancedAnnual report
「Despite higher key raw material costs, operating profit increased ¥434 million, or 49.2%, year on year to ¥1,316 million due to the promotion of sales price improvements and cost reductions. Ordinary profit increased ¥438 million, or 38.6%, to ¥1,575 million, while net income attributable to owners of the parent increased ¥322 million, or 54.2%, to ¥918 million.」
Operating profit, ordinary profit and net income attributable to owners of the parent all increased year on year despite higher key raw material costs. - FY2020-Q2AdvancedAnnual report
「Operating profit increased ¥394 million, or 118.2%, year on year to ¥728 million, ordinary profit increased ¥350 million, or 67.3%, to ¥870 million, and net income attributable to owners of the parent increased ¥282 million, or 188.8%, to ¥432 million, due to sales price improvements, higher volumes and cost reductions.」
Operating profit, ordinary profit and net income attributable to owners of the parent all increased year on year, and profit improvement progressed. - FY2020-Q1ReframedAnnual report
「Operating profit increased ¥165 million, or 88.3%, year on year to ¥352 million due to sales price improvements and cost reductions. Although a foreign exchange loss was recorded, ordinary profit increased ¥112 million, or 31.4%, to ¥472 million, while net income attributable to owners of the parent decreased ¥73 million, or 33.2%, to ¥147 million due to the recognition of impairment losses on investment securities and other items.」
Operating profit and ordinary profit increased, while net income attributable to owners of the parent declined due to impairment losses on investment securities and other items, resulting in divergent performance across the various stages of profit. - FY2019AdvancedAnnual report
「Revenue increased ¥2,966 million, or 10.5%, from the previous fiscal year to ¥31,247 million, operating profit increased ¥213 million, or 22.5%, to ¥1,160 million, ordinary profit increased ¥263 million, or 20.9%, to ¥1,522 million, and net income attributable to owners of the parent increased ¥214 million, or 28.1%, to ¥979 million.」
Following year-on-year increases in operating profit and ordinary profit on a quarterly basis, operating profit, ordinary profit and net income attributable to owners of the parent also exceeded the previous year on a full-year basis. At the same time, extraordinary losses, including disaster-related losses, were recognized. - FY2019-Q3ReframedAnnual report
「Operating profit increased ¥80 million, or 10.0%, year on year to ¥882 million, and ordinary profit increased ¥30 million, or 2.7%, to ¥1,136 million, supported by sales price improvements, higher volumes, the benefits of increased production and various cost reductions. However, net income attributable to owners of the parent decreased ¥60 million, or 9.2%, to ¥595 million due in part to the recognition of disaster-related losses. The damaged assets were insured, and part of the insurance proceeds has been received.」
Operating profit and ordinary profit increased due to sales price improvements, higher volumes and cost reductions, while net income attributable to owners of the parent declined due to the recognition of disaster-related losses. - FY2019-Q2ReframedAnnual report
「Although improvements in profitability, including sales price improvements, higher volumes and cost reductions, outweighed cost increases such as higher prices for main and secondary raw materials, operating profit decreased ¥122 million, or 26.9%, year on year to ¥333 million due to lower inventory valuation gains. Ordinary profit decreased ¥138 million, or 21.0%, to ¥520 million, while net income attributable to owners of the parent decreased ¥267 million, or 64.1%, to ¥149 million due to the recognition of ¥308 million in disaster-related losses.」
Although revenue increased, operating profit and ordinary profit declined due to lower inventory valuation gains, and net income attributable to owners of the parent also declined following the recognition of ¥308 million in disaster-related losses. - FY2019-Q1AdvancedAnnual report
「Operating profit increased ¥4 million, or 2.4%, from the previous fiscal year to ¥187 million, as improvements in profitability, including sales price improvements, higher volumes and cost reductions, outweighed cost increases such as higher prices for main and secondary raw materials. Ordinary profit increased ¥31 million, or 9.5%, to ¥359 million, while net income attributable to owners of the parent increased ¥3 million, or 1.7%, to ¥220 million.」
Operating profit, ordinary profit and net income attributable to owners of the parent all increased year on year. - FY2018AdvancedAnnual report
「Operating profit increased ¥371 million, or 64.5%, from the previous fiscal year to ¥946 million, ordinary profit increased ¥233 million, or 22.8%, to ¥1,258 million, and net income attributable to owners of the parent increased ¥77 million, or 11.3%, to ¥764 million.」
On a full-year basis, operating profit was ¥946 million, ordinary profit was ¥1,258 million, and net income attributable to owners of the parent was ¥764 million, confirming year-on-year increases across all profit measures. - FY2018-Q3AdvancedAnnual report
「Operating profit increased ¥437 million, or 119.9%, year on year to ¥801 million, ordinary profit increased ¥345 million, or 45.4%, to ¥1,106 million, and net income attributable to owners of the parent increased ¥135 million, or 26.0%, to ¥655 million.」
Operating profit was ¥801 million, ordinary profit was ¥1,106 million, and net income attributable to owners of the parent was ¥655 million, with year-on-year increases continuing across all profit measures. - FY2018-Q2AdvancedAnnual report
「Although depreciation and amortization declined due to increased production, the reduced fixed-cost burden, and inventory valuation gains, in addition to factors related to sales, led operating profit to increase ¥321 million, or 238.4%, year on year to ¥456 million. Ordinary profit increased ¥352 million, or 115.1%, to ¥659 million, while net income attributable to owners of the parent increased ¥210 million, or 102.5%, to ¥416 million.」
Operating profit was ¥456 million, ordinary profit was ¥659 million, and net income attributable to owners of the parent was ¥416 million, with each profit figure increasing year on year. - FY2018-Q1AdvancedAnnual report
「Operating profit increased ¥158 million, or 650.0%, year on year to ¥182 million, ordinary profit increased ¥227 million, or 225.7%, to ¥328 million, and net income attributable to owners of the parent increased ¥159 million, or 278.6%, to ¥216 million.」
Operating profit increased from ¥24 million in the same period of the previous year to ¥182 million, ordinary profit from ¥100 million to ¥328 million, and net income attributable to owners of the parent from ¥57 million to ¥216 million, with profit improvement continuing. - FY2017-Q3AdvancedAnnual report
「Although depreciation and amortization increased due to capital investments through the previous fiscal year, operating profit rose ¥298 million, or 448.7%, year on year to ¥364 million, driven by favorable factors including lower procurement prices for key raw materials, lower energy costs and the benefits of increased production. Ordinary profit rose ¥290 million, or 61.8%, to ¥760 million, while net income attributable to owners of the parent rose ¥206 million, or 65.7%, to ¥520 million.」
Operating profit increased from ¥66 million in the same period of the previous year to ¥364 million, ordinary profit from ¥470 million to ¥760 million, and net income attributable to owners of the parent from ¥314 million to ¥520 million, indicating further profit improvement. - FY2017-Q2AdvancedAnnual report
「Although depreciation and amortization increased due to capital investments through the previous fiscal year, operating profit rose ¥268 million, or 650.0%, year on year to ¥134 million, driven by favorable factors including lower procurement prices for key raw materials, lower energy costs and the benefits of increased production. Ordinary profit rose ¥185 million, or 154.4%, to ¥306 million, while net income attributable to owners of the parent rose ¥119 million, or 138.0%, to ¥205 million.」
Operating profit turned from a loss in the same period of the previous year to a profit of ¥134 million, while ordinary profit was ¥306 million and net income attributable to owners of the parent was ¥205 million, indicating further profit improvement from the previous quarter. - FY2017-Q1First statedAnnual report
「Operating profit was ¥24 million, an increase of ¥49 million from the same period of the previous year, when the company recorded an operating loss of ¥24 million. Meanwhile, due to decreases in dividends received and gains on sales of securities, ordinary profit was ¥100 million, a decrease of ¥154 million, or 60.4%, from the same period of the previous year, while net income attributable to owners of the parent was ¥57 million, a decrease of ¥129 million, or 69.3%.」
Operating profit turned profitable from a loss in the same period of the previous year, while ordinary profit and net income attributable to owners of the parent declined.