Increase in expenses accompanying growth
First written in FY2024-Q1. 6 of 11 entries say "Worsened", first in FY2024-H1. Latest entry: 2026-08-21.
The whole theme swung hardest in 2020: 6 of 21 companies on the "Worse" side.
4 other companies' latest entry also says "Restated".
- FY2026-H1WorsenedAnnual report
「In terms of profit, gross profit increased with higher revenue, but the cost ratio rose in some businesses and selling, general and administrative expenses increased. Factors behind the increase in selling, general and administrative expenses included the establishment of a research and development center in Poland in the previous fiscal year to accelerate R&D, the opening of Rococo Farm as an employment facility for people with disabilities, the launch of a user association and increased advertising to achieve further revenue growth, higher recruiting and training costs, and amortization of goodwill related to a subsidiary acquired in the previous fiscal year.」
In addition to higher cost ratios in some businesses, selling, general and administrative expenses increased because of the R&D center, Rococo Farm, the user association, advertising, recruiting and training, and goodwill amortization for an acquired subsidiary. Operating profit declined 64.6% year on year, indicating greater profit pressure from costs. - FY2025MitigatedAnnual report
「In terms of profit, gross profit increased with higher revenue, while selling, general and administrative expenses did not increase significantly and were kept under control, resulting in higher profit year on year.」
Revenue increased 17.8%, while selling, general and administrative expenses rose only 8.2%, resulting in a 23.0% year-on-year increase in operating profit. The pressure on profit from higher costs weakened from the previous period. - 2026-03-04MitigatedGeneral Meetings of Shareholders
「Gross profit increased in line with higher revenue, while selling, general and administrative expenses were kept under control without increasing significantly. As a result, profit increased year on year.」
Selling, general and administrative expenses were kept under control without a significant increase, and operating profit was ¥525 million, up 23.0% year on year. Meanwhile, the overseas business recorded higher personnel expenses. - FY2025-H1MitigatedAnnual report
「In terms of profit, gross profit increased with higher revenue, while selling, general and administrative expenses did not increase significantly and were kept under control, resulting in a substantial year-on-year increase in profit.」
Selling, general and administrative expenses were contained despite higher gross profit resulting from revenue growth. Operating profit and other profit measures increased substantially year on year, reducing the impact of higher costs. - FY2024WorsenedAnnual report
「Against this market backdrop, revenue performed broadly well, but costs increased because personnel expenses rose as the number of employees increased and billing rates rose, selling expenses such as sales activities and advertising increased to win new projects, and costs to strengthen relationships with customers, which is necessary for future growth, increased.」
Higher personnel, selling and customer-relationship costs continued. Selling, general and administrative expenses increased 10.2% year on year, while operating profit declined 11.1%, quantifying the effect on full-year results. - FY2024-H1WorsenedAnnual report
「Against this market backdrop, revenue performed broadly well, but costs increased because personnel expenses rose as the number of employees increased and billing rates rose, selling expenses such as sales activities and advertising increased to win new projects, costs to strengthen relationships with customers, which is necessary for future growth, increased, and taxes and dues increased after the Company became subject to the pro forma business taxation system following its listing.」
In addition to higher employee numbers, billing rates, personnel expenses, project acquisition costs and pro forma business taxation, costs to strengthen customer relationships became an additional cost driver. - FY2024-Q1MaterialisedAnnual report
「Costs increased because personnel expenses rose as the number of employees increased and billing rates rose, selling expenses such as sales activities and advertising increased to win new projects, and taxes and dues increased after the Company became subject to the pro forma business taxation system following its listing.」
Higher employee numbers and billing rates, project acquisition costs and taxes and dues after listing were cited as drivers of higher costs.