Declines in Sales and Profit Following a Pullback in Large-Project Sales
First written in FY2016. 3 of 28 entries say "Reframed", first in FY2018. Latest entry: FY2027-H1.
The whole theme swung hardest in 2019: 4 of 9 companies on the "Worse" side.
2 other companies' latest entry also says "Other".
- FY2027-H1Higher Revenue and Earnings for the First HalfAnnual report
「Revenue for the interim accounting period was ¥18,590 million, up 9.9% year on year. In terms of profit, the gross profit margin on revenue rose 1.9 percentage points from the same period of the previous year as higher costs were passed through to selling prices. As a result, the increase in selling, general and administrative expenses due to base pay increases and higher travel and transportation expenses was absorbed, resulting in operating profit of ¥775 million, up 42.5% year on year, ordinary profit of ¥865 million, up 39.9%, and interim net profit of ¥552 million, up 41.9%.」
During the interim period, revenue, operating profit, ordinary profit and interim net profit all exceeded the same period of the previous year, resulting in higher revenue and profit. The drivers were higher margins from passing costs through to selling prices and the absorption of higher selling, general and administrative expenses. - FY2026Record-High Net Sales; Higher Sales and ProfitAnnual report
「Revenue reached a record high of ¥41,008 million, up 2.7% year on year, driven by strong orders related to the school business and the food-service industry. Despite the impact of higher prices, the gross profit margin improved as production efficiency increased.」
Strong orders related to the school business and the food-service industry and improved production efficiency drove revenue to a record high of ¥41,008 million. Operating income was ¥3,049 million, ordinary income was ¥3,169 million and net income was ¥2,210 million, all exceeding the previous year. - FY2026-H1Higher revenue but lower profit and improved margins in the interim periodAnnual report
「Revenue for the interim period was ¥16,912 million, up 1.5% year on year. Although the gross profit margin rose 0.7 percentage points as higher costs were passed through to selling prices, selling, general and administrative expenses increased because of base-pay increases and higher travel and transportation expenses. Operating income was ¥544 million, down 14.4%, ordinary income was ¥618 million, down 14.5%, and interim net income was ¥389 million, down 14.9%.」
For the interim period, revenue increased 1.5% year on year, while operating income, ordinary income and interim net income all declined. The gross profit margin rose 0.7 percentage points as higher costs were passed through to selling prices, but higher SG&A expenses reduced profit. - FY2025Record-high revenue and substantial profit growthAnnual report
「Revenue reached a record high of ¥39,931 million, up 9.1% year on year, driven by strong orders related to the school business and the food-service industry. Despite the impact of higher prices, the gross profit margin improved as the sales mix shifted toward the company's high-margin proprietary products and production efficiency improved.」
Strong orders related to the school business and the food-service industry drove revenue to a record high of ¥39,931 million. Operating income increased 33.8% year on year, ordinary income 33.7% and net income 19.0%. - FY2025-H1Higher revenue and profit and improved margins in the interim periodAnnual report
「As a result, revenue for the six months ended the interim period was ¥16,670 million, up 2.4% year on year. The gross profit margin rose 1.7 percentage points from the same period of the previous year as higher costs were passed through to selling prices. Although selling, general and administrative expenses increased due to base-pay increases and higher travel and transportation expenses, the increase in gross profit had a greater impact. Operating income was ¥636 million, up 5.9%, ordinary income was ¥723 million, up 9.1%, and interim net income was ¥457 million, up 14.5%.」
For the interim period, revenue increased 2.4% year on year, operating income 5.9%, ordinary income 9.1% and interim net income 14.5%, resulting in higher revenue and profit. The gross profit margin also rose 1.7 percentage points as higher costs were passed through to selling prices. - FY2024Record-high revenue and substantial profit growthAnnual report
「Revenue reached a record high of ¥36,602 million, up 19.3% year on year, driven by strong orders from the school-lunch and food-service industries. Despite the impact of higher prices, the gross profit margin remained at the same level as in the previous fiscal year because orders for school lunches, which have a high proportion of the company's own products, remained firm. Although selling, general and administrative expenses increased due to base-pay increases and other factors, higher revenue resulted in operating income of ¥1,966 million, up 83.4%, and ordinary income of ¥2,086 million, up 74.9%. Net income was ¥1,519 million, up 89.1%, also benefiting from significant tax savings from the wage increase promotion tax credit and the research and development tax credit.」
Strong orders from the school-lunch and food-service industries drove revenue to a record high, while operating income, ordinary income and net income also substantially exceeded the same period of the previous year. - FY2024-Q3Revenue and profit growth in the first nine monthsAnnual report
「As a result, revenue for the nine months ended the third quarter was ¥24,758 million, up 20.4% year on year. Although selling, general and administrative expenses increased due to base-pay increases and higher travel and transportation expenses, the impact of higher revenue was greater. Operating income was ¥659 million, up 122.8%, ordinary income was ¥756 million, up 80.6%, and net income was ¥427 million, up 52.8%.」
For the nine months ended the third quarter, revenue increased 20.4% year on year, operating income 122.8%, ordinary income 80.6% and net income 52.8%, resulting in higher revenue and profit. - FY2024-Q2Revenue and profit growth in the first six monthsAnnual report
「As a result, revenue for the six months ended the second quarter was ¥16,285 million, up 17.3% year on year. Although the gross profit margin declined 1.0 percentage point from the same period of the previous year because the company struggled to pass higher costs through to selling prices, and selling, general and administrative expenses increased due to base-pay increases and higher travel and transportation expenses, the impact of higher revenue was greater. Operating income was ¥601 million, up 50.5%, ordinary income was ¥662 million, up 38.4%, and net income was ¥399 million, up 14.9%.」
For the six months ended the second quarter, revenue increased 17.3% year on year, operating income 50.5%, ordinary income 38.4% and net income 14.9%, resulting in higher revenue and profit. The company also reported difficulty passing higher costs through to selling prices and higher SG&A expenses. - FY2024-Q1First-quarter revenue growth and narrower lossesAnnual report
「As a result, revenue for the three months ended the first quarter was ¥5,849 million, compared with revenue of ¥4,012 million in the same quarter of the previous year. Ordinary loss was ¥359 million, compared with an ordinary loss of ¥491 million in the same quarter of the previous year, and net loss was ¥285 million, compared with a net loss of ¥303 million.」
Revenue increased from the same period of the previous year, while both ordinary loss and net loss narrowed. Following record-high full-year revenue and lower profit in the previous fiscal year, the first quarter saw higher revenue and narrower losses. - FY2023Record-high revenue, but lower profit due to higher raw-material costs and other factorsAnnual report
「Revenue reached a record high of ¥30,668 million, up 2.0% year on year, as orders related to food factories increased and orders from the food-service industry remained strong while school-related orders remained the mainstay. However, as raw-material costs and other factors reduced the gross profit margin, selling, general and administrative expenses increased because of additional hiring and the easing of restrictions on activities.」
In addition to the previous explanation centered on the reaction to large projects, the company reported record-high revenue driven by orders related to food factories and the food-service industry, while profit declined because of higher raw-material costs, additional hiring and higher SG&A expenses. - FY2023-Q3Lower revenue and profit due to logistics disruptions, material shortages and higher SG&A expensesAnnual report
「In terms of operating performance, revenue for the nine months ended the third quarter was ¥20,570 million, down 2.0% year on year, due to disruptions to global logistics networks and shortages of materials. Operating income was ¥295 million, down 60.0%, ordinary income was ¥418 million, down 50.0%, and net income was ¥279 million, down 46.0%, amid higher raw-material prices, increased travel and transportation expenses as COVID-19 restrictions eased, active participation in trade shows, and higher selling, general and administrative expenses including packing and freight, commissions paid and depreciation.」
Revenue and profit declined in the nine months ended the third quarter due to the impact of logistics disruptions and material shortages, as well as higher SG&A expenses including raw-material costs, travel and transportation expenses and trade-show participation. - FY2023-Q2Lower revenue and profit due to shipment delays caused by logistics disruptions and component shortagesAnnual report
「In terms of operating performance, some projects were delayed from the first half to the second half because of disruptions to global logistics networks and component supply shortages. Revenue for the six months ended the second quarter was ¥13,880 million, down 3.7% year on year. Although the gross profit margin improved slightly from the same period of the previous year, selling, general and administrative expenses increased as travel and transportation expenses rose and the company exhibited at trade shows amid the easing of COVID-19 restrictions. Operating income was ¥399 million, down 38.9%, ordinary income was ¥479 million, down 34.1%, and net income was ¥347 million, down 25.3%.」
Revenue and profit declined in the six months ended the second quarter because of shipment delays caused by logistics disruptions and component shortages, as well as higher SG&A expenses from travel and transportation costs and trade-show participation. - FY2022Record-High Net Sales; Higher Sales and ProfitAnnual report
「Revenue reached a record high of ¥30,074 million, up 5.0% year on year, as orders related to the core school business recovered somewhat at the end of the period and orders from customers in the delivery-related business remained strong. The gross profit margin also improved, resulting in operating income of ¥1,638 million, up 24.6%, ordinary income of ¥1,755 million, up 23.9%, and net income of ¥1,117 million, up 20.0%.」
Strong delivery-related orders and the recovery in school-related orders at the end of the period drove revenue to a record high, while operating income, ordinary income and net income also exceeded the previous year. - FY2022-Q2Higher revenue and profit as the impact of the COVID-19 pandemic easedAnnual report
「As the impact of the COVID-19 pandemic eased, revenue for the six months ended the second quarter was ¥14,414 million, up 17.0% year on year. Higher revenue and improved margins resulted in operating income of ¥653 million, up 613.1%, ordinary income of ¥727 million, up 438.8%, and net income of ¥464 million, up 744.4%.」
As the impact of the COVID-19 pandemic eased, revenue increased 17.0% year on year, and operating income, ordinary income and net income all substantially exceeded the same period of the previous year. - FY2021ReframedAnnual report
「Revenue was ¥28,641 million, down 2.2% year on year, as orders related to the core school business recovered somewhat at the end of the period and orders from customers in the delivery-related business remained strong. The decrease in revenue and the lower gross profit margin were offset by lower selling, general and administrative expenses, resulting in operating income of ¥1,315 million, up 3.3% year on year.」
The emphasis has shifted from an explanation centered on lower revenue and profit caused by the reaction to large projects and the COVID-19 pandemic to an explanation that lower revenue from school-related and delivery-related orders was offset by lower SG&A expenses, resulting in higher profit. - FY2021-Q3Revenue and profit declined in the third-quarter cumulative periodAnnual report
「Although selling, general and administrative expenses declined, operating income was ¥32 million, down 87.5% year on year, ordinary income was ¥112 million, down 70.8%, and net income was ¥8 million, down 95.9%, due to lower revenue and the decline in gross profit margin.」
Operating income, ordinary income and net income for the nine months ended the third quarter declined sharply year on year due to lower revenue and the lower gross profit margin. - FY2021-Q2Lower revenue and profit in the six months ended the second quarter due to the COVID-19 pandemicAnnual report
「In terms of operating performance, revenue for the six months ended the second quarter was ¥12,321 million, down 13.6% year on year, due to the impact of the COVID-19 pandemic. Although selling, general and administrative expenses declined, operating income was ¥91 million, down 87.1%, ordinary income was ¥134 million, down 82.5%, and net income was ¥55 million, down 88.6%, due to lower revenue and lower margins.」
In addition to the timing of large-project recognition and the resulting reaction, the company cited lower revenue and margins caused by the COVID-19 pandemic as factors behind lower revenue and profit for the six months ended the second quarter. - FY2021-Q1First-quarter improvement from recognition of large-project salesAnnual report
「The first quarter is normally a slow period for the company in terms of revenue and other measures. However, performance improved from the same quarter of the previous year because sales from a large project were recognized in the first quarter.」
The company explained that performance improved from the same quarter of the previous year because sales from a large project were recognized in the seasonally weak first quarter. - FY2020Net income declined despite record-high revenueAnnual report
「Revenue reached a record high of ¥29,297 million, up 14.5% year on year. Operating income was ¥1,273 million, up 0.9%, and ordinary income was ¥1,400 million, up 3.3%, while net income was ¥920 million, down 3.8%, due to the lower gross profit margin and higher selling, general and administrative expenses.」
Revenue reached a record high and operating income and ordinary income increased, while net income declined because of the lower gross profit margin and higher SG&A expenses. - FY2020-Q3Profit declined despite higher revenue due to lower margins and higher SG&A expensesAnnual report
「Operating income was ¥258 million, down 48.9% year on year, ordinary income was ¥386 million, down 33.4%, and net income was ¥194 million, down 41.7%, due to a decline in gross profit margin and higher selling, general and administrative expenses.」
Although revenue increased, operating income, ordinary income and net income all fell below the same period of the previous year because of the lower gross profit margin and higher selling, general and administrative expenses. - FY2020-Q2Higher revenue and profit from strong large-project orders, despite lower margins and higher SG&A expensesAnnual report
「Although profit margins declined and selling, general and administrative expenses increased, the rise in revenue resulted in operating income of ¥712 million, up 8.2% year on year, ordinary income of ¥772 million, up 8.3%, and net income of ¥481 million, up 6.9%.」
Despite lower profit margins and higher selling, general and administrative expenses, operating income, ordinary income and net income all exceeded the same period of the previous year because of higher revenue. - FY2020-Q1Large-project sales shifted to the following quarter and beyondAnnual report
「In the first quarter of the current fiscal year, revenue and profit declined from the same quarter of the previous year as sales from large projects shifted to the second quarter and beyond.」
The company explained that the shift of large-project sales to the second quarter and beyond was a factor behind the decline in revenue and profit in the first quarter. - FY2019ReframedAnnual report
「The company's operating performance was affected by a decline in orders, and revenue was ¥25,580 million, down 5.0% year on year. Operating income was ¥1,262 million, down 34.9% year on year, due to lower revenue, higher expenses associated with the construction of a new Gunma plant, and higher selling, general and administrative expenses.」
The explanation has shifted from focusing on the timing of large-project sales and the resulting reaction to identifying lower orders, higher expenses associated with the construction of the new Gunma plant, and higher selling, general and administrative expenses as the causes of lower revenue and profit. - FY2019-Q2Lower revenue and profit as large-project sales shifted to the second halfAnnual report
「In terms of operating performance, sales from large projects scheduled for the first half shifted to the second half, resulting in revenue of ¥12,178 million for the six months ended the second quarter, down 10.9% year on year. Operating income was ¥659 million, down 49.7%, ordinary income was ¥713 million, down 48.0%, and net income was ¥450 million, down 49.0%, due to lower revenue and higher selling, general and administrative expenses.」
Revenue and profit declined in the six months ended the second quarter because sales from large projects shifted to the second half and selling, general and administrative expenses increased. - FY2019-Q1Lower first-quarter revenue and profit due to the reaction to large-project salesAnnual report
「In the first quarter of the previous fiscal year, revenue was recognized from an exceptionally large project. In the first quarter of the current fiscal year, there were no projects generating such revenue, resulting in lower revenue and profit than in the same quarter of the previous year.」
The company explained that revenue and profit in the first quarter fell below the same quarter of the previous year because of the reaction to an exceptionally large project recognized in the prior-year first quarter. - FY2018ReframedAnnual report
「Orders for large-scale and small- to medium-sized projects progressed steadily, and revenue reached a record high of ¥26,932 million, up 4.2% year on year. However, with fewer high-margin projects than in the same period of the previous year, personnel expenses, repair costs and IT-related expenses increased, and operating income was ¥1,938 million, down 10.3% year on year.」
The emphasis has shifted from the previous explanation of lower revenue due to the reaction to large-project sales to an explanation that orders remain strong and revenue reached a record high, but profit declined because of the decrease in high-margin projects and higher expenses. - FY2018-Q1RestatedAnnual report
「For the full fiscal year, performance is in line with the forecasts already published in the earnings report, as revenue from large projects is lower than in the previous fiscal year.」
The Company continues to project lower full-year revenue from large projects than in the previous fiscal year. - FY2016First statedAnnual report
「As the substantial revenue from large projects recorded in the previous fiscal year temporarily subsided, revenue was ¥22.023 billion, down 13.7% year on year.」
The Company cited the subsiding of large-project revenue recorded in the previous fiscal year as a factor behind the decline in revenue for the current period.