Profit Pressure from Rising Personnel Costs
First written in FY2026-H1. 2 of 3 entries say "Materialised", first in 2026-05-12. Latest entry: FY2026.
Corona moved to the "Worse" side of this theme in 2026, 6 years after the typical company in this theme (2020).
The whole theme swung hardest in 2026: 10 of 19 companies on the "Worse" side.
5 other companies' latest entry also says "Materialised".
- FY2026MaterialisedAnnual report
「The main factors behind the increase in selling, general and administrative expenses were increases of ¥196 million in personnel expenses, ¥161 million in miscellaneous expenses and ¥51 million in research and development expenses.」
Personnel expenses increased by ¥196 million and actually put pressure on profit as a factor driving higher selling, general and administrative expenses. - 2026-05-12MaterialisedRevision of earnings forecasts
「Revenue and each profit figure fell below plan because of higher raw-material prices and personnel expenses, as well as increased costs related to operational rationalization.」
Higher personnel expenses were explicitly cited as a factor behind the shortfall from the fiscal 2025 revenue and profit plans. - FY2026-H1First statedAnnual report
「In terms of profit, although housing equipment performed steadily, lower selling prices and volumes for air-conditioning and home appliances, as well as increases in purchasing prices for raw materials and other items and in selling, general and administrative expenses such as personnel and logistics costs, resulted in an operating loss of ¥599 million, compared with operating profit of ¥38 million in the previous interim consolidated accounting period, an ordinary loss of ¥364 million, compared with ordinary profit of ¥203 million, and an interim net loss attributable to owners of the parent of ¥259 million, compared with interim net profit attributable to owners of the parent of ¥142 million.」
Higher personnel expenses emerged for the first time as a separate risk theme and as a factor driving higher selling, general and administrative expenses. They were also cited as one factor behind operating results and other figures shifting from profit in the interim period of the previous year to loss. The increase in personnel expenses alone was not disclosed.