Higher Revenue, Lower Profit, and Increased Growth Investment and Advertising Expenses
First written in FY2016-Q3. 18 of 38 entries say "Advanced", first in FY2016. Latest entry: 2026-07-30.
The whole theme swung hardest in 2026: 19 of 79 companies on the "Worse" side.
9 other companies' latest entry also says "Advanced".
- 2026-07-30AdvancedEarnings presentation
「Revenue and operating profit both reached new record highs on a cumulative third-quarter basis.」
Cumulative third-quarter consolidated revenue was ¥20,641 million and operating profit was ¥8,109 million, both record highs amid revenue and profit growth. - FY2026-H1AdvancedAnnual report
「The group's operating performance resulted in net sales of ¥13,447 million, an increase of ¥1,980 million, or 17.3%, year on year. This was mainly due to growth in net sales resulting from an increase in the total number of closed transactions and numerous large transactions being closed.」
Against a backdrop of an increase in total closed transactions and numerous large transactions being closed, net sales increased 17.3% year on year, operating income 20.1%, and interim profit attributable to owners of the parent 26.5%. - FY2025AdvancedAnnual report
「As a result, operating income increased by ¥629 million, or 9.7%, year on year to ¥7,126 million; profit before tax increased by ¥728 million, or 11.2%, to ¥7,202 million; and profit for the year attributable to owners of the parent increased by ¥559 million, or 12.4%, to ¥5,070 million.」
Against a backdrop of numerous large transactions being closed and an increase in the number of closed transactions, net sales increased 17.1%, operating income 9.7%, and profit for the year attributable to owners of the parent 12.4%. - FY2025-H1AdvancedAnnual report
「The group's operating performance resulted in net sales of ¥11,466 million, an increase of ¥4,219 million, or 58.2%, year on year. This was mainly due to higher average closing unit prices, as many large transactions were closed, which lifted net sales.」
Against a backdrop of numerous large transactions being closed and higher average closing unit prices, net sales increased 58.2% year on year, operating income increased 154.3%, and interim net income attributable to owners of the parent increased 158.5%, representing a substantial recovery from the decline in revenue and earnings in the previous year. - FY2024-Q2Significantly lower sales and profitAnnual report
「As a result, operating income decreased by ¥3,806 million, or 69.6%, year on year to ¥1,665 million; ordinary income decreased by ¥3,806 million, or 69.5%, to ¥1,668 million; and net income attributable to owners of the parent decreased by ¥1,940 million, or 63.5%, to ¥1,113 million.」
For the six months ended the second quarter, net sales declined 44.3% year on year to ¥7,247 million, operating income declined 69.6%, ordinary income declined 69.5%, and net income attributable to owners of the parent declined 63.5%. The company cited the reaction to the boost from an exceptionally large transaction in the previous year and lower transaction unit prices. - FY2024-Q1Revenue and earnings growth, with earnings recoveryAnnual report
「As a result, operating income increased by ¥261 million, or 79.2%, year on year to ¥591 million; ordinary income increased by ¥261 million, or 78.9%, to ¥592 million; and net income attributable to owners of the parent increased by ¥329 million, or 405.3%, to ¥411 million.」
Net sales rose only 1.8% year on year to ¥3,156 million, but lower cost of sales and other factors drove operating income up 79.2%, ordinary income up 78.9%, and net income attributable to owners of the parent up 405.3%. Earnings recovered from the decline in revenue and earnings in the previous year. - FY2023Higher revenue and lower earnings; substantially higher SG&A expensesAnnual report
「Selling, general and administrative expenses increased by ¥2,909 million, or 74.2%, year on year to ¥6,829 million, mainly due to higher advertising expenses, directors' compensation, provisions for directors' bonuses, rent, commissions paid and depreciation. As a result, operating income decreased by ¥2,263 million, or 23.3%, year on year to ¥7,449 million.」
Although net sales increased 0.7%, SG&A expenses rose 74.2% and operating income declined 23.3%. Higher growth investment, advertising expenses, directors' compensation and relocation-related costs, among others, exerted increasing pressure on earnings. - FY2023-Q3Higher revenue and lower earnings; SG&A expenses doubledAnnual report
「The group's operating performance resulted in net sales of ¥15,988 million, an increase of ¥1,833 million, or 13.0%, year on year. Although the number of closed transactions declined, the main factor was the increase in transaction size, which lifted net sales. Selling, general and administrative expenses increased by ¥2,724 million, or 103.7%, to ¥5,352 million, mainly due to higher advertising expenses, directors' compensation, provisions for directors' bonuses, rent and commissions paid. As a result, operating income decreased by ¥932 million, or 13.8%, year on year to ¥5,813 million; ordinary income decreased by ¥978 million, or 14.4%, to ¥5,821 million; and net income attributable to owners of the parent decreased by ¥1,403 million, or 30.5%, to ¥3,197 million.」
Larger transactions drove net sales up 13.0%, but higher advertising expenses and other costs pushed SG&A expenses up 103.7%, while operating income declined 13.8% and net income attributable to owners of the parent declined 30.5%. - FY2023-Q2Higher revenue and earnings; substantially higher SG&A expensesAnnual report
「Net sales increased by ¥4,030 million, or 44.9%, year on year to ¥13,003 million. Although the number of closed transactions declined, the main factor was the increase in transaction size, which lifted net sales. Selling, general and administrative expenses increased by ¥2,450 million, or 158.0%, year on year to ¥4,000 million, mainly due to higher advertising expenses, directors' compensation, provisions for directors' bonuses, rent and commissions paid.」
Although the number of closed transactions declined, larger transactions drove net sales up 44.9% and operating income up 28.2%. SG&A expenses increased 158.0% due to higher advertising expenses and other costs. - FY2023-Q1Lower revenue and earnings; higher SG&A expensesAnnual report
「The group's operating performance resulted in net sales of ¥3,100 million, a decline of ¥2,004 million, or 39.3%, year on year. The main factors were a decline in the number of closed transactions, a decrease in the number of large transactions as a share of closed transactions, and an overall decline in closing unit prices.」
Lower numbers of closed transactions and large transactions, together with lower closing unit prices, caused net sales to decline 39.3%. In addition to higher advertising expenses and other costs, operating income declined 87.2% year on year to ¥330 million, and net income attributable to owners of the parent declined 95.4% to ¥81 million. - FY2022AdvancedAnnual report
「As a result, operating income increased by ¥3,140 million, or 47.8%, year on year to ¥9,713 million; ordinary income increased by ¥3,178 million, or 48.2%, to ¥9,766 million; and net income attributable to owners of the parent increased by ¥2,482 million, or 57.6%, to ¥6,794 million.」
Against a backdrop of more closed large transactions, net sales were ¥20,706 million, up 36.6%; operating income was ¥9,713 million, up 47.8%; and net income attributable to owners of the parent was ¥6,794 million, up 57.6%. Advertising expenses increased to ¥707 million. - FY2022-Q3AdvancedAnnual report
「The group's operating performance resulted in net sales of ¥14,155 million, an increase of ¥3,541 million, or 33.4%, year on year. The main factor was an increase in closed large transactions. Selling, general and administrative expenses increased by ¥238 million, or 10.0%, to ¥2,627 million, mainly due to higher advertising expenses, commissions paid and miscellaneous expenses. As a result, operating income increased by ¥2,210 million, or 48.7%, year on year to ¥6,747 million; ordinary income increased by ¥2,251 million, or 49.5%, to ¥6,799 million; and net income attributable to owners of the parent increased by ¥1,595 million, or 53.0%, to ¥4,601 million.」
Net sales, operating income, ordinary income and net income attributable to owners of the parent increased substantially year on year against a backdrop of more closed large transactions. SG&A expenses increased 10.0%, mainly due to higher advertising expenses and other costs. - FY2022-Q2Higher revenue and earnings; lower SG&A expensesAnnual report
「The group's operating performance resulted in net sales of ¥8,973 million, an increase of ¥1,357 million, or 17.8%, year on year. The main factor was an increase in closed large transactions. Selling, general and administrative expenses declined by ¥114 million, or 6.9%, to ¥1,550 million, mainly due to lower directors' compensation. As a result, operating income increased by ¥855 million, or 25.1%, year on year to ¥4,267 million; ordinary income increased by ¥883 million, or 25.8%, to ¥4,299 million; and net income attributable to owners of the parent increased by ¥620 million, or 27.3%, to ¥2,888 million.」
Net sales, operating income, ordinary income and net income attributable to owners of the parent increased year on year against a backdrop of more closed large transactions. Selling, general and administrative expenses declined 6.9%, mainly due to lower directors' compensation. - FY2022-Q1AdvancedAnnual report
「The group's operating performance resulted in net sales of ¥5,105 million, an increase of ¥1,133 million, or 28.5%, year on year. The main factors were an increase in the number of closed transactions and an overall rise in closing unit prices.」
Higher numbers of closed transactions and higher closing unit prices drove net sales up 28.5% year on year, operating income up 42.3%, and net income attributable to owners of the parent up 56.7%. - FY2021AdvancedAnnual report
「The group's operating performance progressed while efforts were made to prevent the spread of COVID-19 by limiting attendance at the head office through telework and using web conferences, among other measures. Net sales increased by ¥3,290 million, or 27.7%, year on year to ¥15,161 million. As a result, operating income increased by ¥1,520 million, or 30.1%, year on year to ¥6,572 million; ordinary income increased by ¥1,537 million, or 30.4%, to ¥6,588 million; and net income attributable to owners of the parent increased by ¥904 million, or 26.5%, to ¥4,312 million.」
The company recovered from lower revenue and earnings in the previous year, with net sales up 27.7%, operating income up 30.1%, ordinary income up 30.4%, and net income attributable to owners of the parent up 26.5%. - FY2021-Q3AdvancedAnnual report
「The group progressed its projects while working to prevent the spread of COVID-19 by limiting attendance at the head office through telework and using web conferences, among other measures. Net sales increased by ¥2,239 million, or 26.7%, year on year to ¥10,614 million, mainly due to an increase in closed transactions, particularly large transactions, which rose from 14 to 22. As a result, operating income increased by ¥1,015 million, or 28.8%, to ¥4,537 million; ordinary income increased by ¥1,027 million, or 29.2%, to ¥4,548 million; and net income attributable to owners of the parent increased by ¥687 million, or 29.6%, to ¥3,007 million.」
The company recovered from lower revenue and earnings in the previous year to post higher revenue and earnings for the nine-month period, against a backdrop of increased closed transactions and large transactions. Net sales increased 26.7%, operating income 28.8%, ordinary income 29.2%, and net income attributable to owners of the parent 29.6%. - FY2021-Q2AdvancedAnnual report
「As a result, operating income increased by ¥1,025 million, or 42.9%, year on year to ¥3,412 million; ordinary income increased by ¥1,030 million, or 43.1%, to ¥3,417 million; and net income attributable to owners of the parent increased by ¥729 million, or 47.4%, to ¥2,268 million.」
Performance shifted from lower revenue and earnings in the previous year to higher revenue and earnings, with operating income, ordinary income and net income attributable to owners of the parent all increasing. Net sales also rose 34.7% year on year. - FY2021-Q1AdvancedAnnual report
「The group's operating performance progressed steadily while efforts were made to prevent the spread of COVID-19, resulting in net sales of ¥3,972 million, an increase of ¥2,677 million, or 206.7%, year on year. The main factor was an increase in the number of closed transactions, particularly an increase in closed large transactions from 1 to 8.」
From the substantial decline in revenue and earnings in the previous year, net sales increased 206.7% against a backdrop of higher numbers of closed transactions and large transactions. Operating income was ¥1,807 million, ordinary income was ¥1,811 million, and net income attributable to owners of the parent was ¥1,118 million. - FY2020Lower revenue and earnings; higher advertising and other expensesAnnual report
「As a result, operating income decreased by ¥804 million, or 13.7%, year on year to ¥5,052 million; ordinary income decreased by ¥805 million, or 13.7%, to ¥5,051 million; and net income attributable to owners of the parent decreased by ¥518 million, or 13.2%, to ¥3,407 million.」
Net sales declined 5.7% year on year, operating and ordinary income declined 13.7%, and net income attributable to owners of the parent declined 13.2%. Selling, general and administrative expenses also continued to increase due to stepped-up advertising and the expansion of the head office, among other factors. - FY2020-Q3Lower revenue and earnings; higher advertising and other expensesAnnual report
「Net sales declined by ¥1,541 million, or 15.5%, year on year to ¥8,375 million. Although the company achieved solid closings from the second to the third quarter, this was not enough to offset the sluggish number of closings in the first quarter, resulting in a substantial year-on-year decline in closed transactions.」
For the nine-month period, net sales declined 15.5%, operating income declined 25.4%, ordinary income declined 25.4%, and net income attributable to owners of the parent declined 26.6%. Meanwhile, selling, general and administrative expenses increased 16.3%, mainly due to stepped-up advertising and the expansion of office space. - FY2020-Q2Lower revenue and earnings; higher advertising expenses; quarterly net sales at a record highAnnual report
「Against this backdrop, cumulative group net sales declined by ¥1,533 million, or 21.3%, year on year to ¥5,654 million. The main factor was a decline in the number of closed transactions, particularly a decrease in closed large transactions, which carry higher unit prices, from 15 to 9.」
For the six months ended the second quarter, net sales declined 21.3%, operating income declined 32.3%, and net income attributable to owners of the parent declined 34.6%. Meanwhile, the second-quarter standalone period posted record net sales, while selling, general and administrative expenses, including advertising expenses, increased 17.1%. - FY2020-Q1Significantly lower sales and profitAnnual report
「As a result, operating income decreased by ¥1,845 million, or 94.2%, year on year to ¥114 million; ordinary income decreased by ¥1,844 million, or 94.1%, to ¥115 million; and net income attributable to owners of the parent decreased by ¥1,320 million, or 99.0%, to ¥14 million.」
Net sales declined 66.7% year on year to ¥1,295 million, operating income declined 94.2%, ordinary income declined 94.1%, and net income attributable to owners of the parent declined 99.0%. Performance shifted from higher revenue and earnings driven by strong large transactions in the previous year to a substantial decline in both revenue and earnings. - FY2019Record revenue and earnings; higher advertising expensesAnnual report
「The group's operating performance reached record highs for both revenue and earnings. Net sales increased by ¥4,574 million, or 57.0%, year on year to ¥12,592 million, reflecting a substantial increase in the number of closed transactions from the previous consolidated fiscal year and a higher share of large transactions.」
Revenue and earnings reached record highs, with net sales up 57.0%, operating income up 85.0%, and net income attributable to owners of the parent up 87.6%. Meanwhile, advertising expenses increased from ¥255 million to ¥423 million. - FY2019-Q3Higher revenue and earnings; higher advertising expensesAnnual report
「As a result, the group's operating performance improved as the number of closed transactions increased steadily across industries, with net sales rising by ¥3,549 million, or 55.7%, year on year to ¥9,916 million. Cost of sales increased by ¥1,022 million, or 44.7%, to ¥3,310 million, reflecting higher incentive bonuses triggered by closed transactions, higher bonuses associated with increased net sales, and higher outsourcing costs for large transactions. Selling, general and administrative expenses increased by ¥550 million, or 41.1%, to ¥1,886 million, mainly due to higher advertising expenses, including television commercials, higher directors' bonuses and higher taxes and dues resulting from increased taxable income. Operating income increased by ¥1,978 million, or 72.1%, year on year to ¥4,720 million; ordinary income increased by ¥1,984 million, or 72.5%, to ¥4,721 million; and net income attributable to owners of the parent increased by ¥1,281 million, or 68.2%, to ¥3,160 million.」
The number of closed transactions increased across industries, driving net sales up 55.7%, operating income up 72.1%, ordinary income up 72.5%, and net income attributable to owners of the parent up 68.2%. Meanwhile, selling, general and administrative expenses, including television advertising, increased 41.1%. - FY2019-Q2Higher revenue and earnings; higher advertising expensesAnnual report
「As a result, although the number of transactions was level with the same quarter of the previous year, strong closings of large transactions resulted in net sales of ¥7,187 million, an increase of ¥2,286 million, or 46.6%, year on year. Selling, general and administrative expenses increased by ¥444 million, or 48.8%, year on year to ¥1,353 million, mainly due to higher advertising expenses, including television commercials, higher directors' bonuses and higher provisions for bonuses. As a result, operating income increased by ¥1,224 million, or 53.2%, year on year to ¥3,526 million; ordinary income increased by ¥1,225 million, or 53.2%, to ¥3,526 million; and net income attributable to owners of the parent increased by ¥752 million, or 47.0%, to ¥2,352 million.」
The number of closed transactions was flat, but strong closings of large transactions drove net sales up 46.6% and operating and ordinary income up 53.2%; net income attributable to owners of the parent increased 47.0%. Meanwhile, selling, general and administrative expenses, including advertising expenses, increased 48.8%. - FY2019-Q1Higher revenue and profitsAnnual report
「Although the number of transactions was below the same quarter of the previous year, the strong closing of large transactions resulted in net sales of ¥3,887 million, an increase of ¥1,604 million, or 70.2%, year on year. Selling, general and administrative expenses increased by ¥236 million, or 50.0%, year on year to ¥708 million, mainly due to higher advertising expenses, including television commercials, higher provisions for directors' bonuses, and higher business taxes and other expenses associated with income growth. As a result, operating income increased by ¥925 million, or 89.4%, year on year to ¥1,959 million; ordinary income increased by ¥925 million, or 89.4%, to ¥1,959 million; and net income attributable to owners of the parent increased by ¥613 million, or 85.0%, to ¥1,334 million.」
The number of closed transactions declined, but strong closings of large transactions drove net sales up 70.2% and operating income up 89.4%. Advertising expenses, including television commercials, increased 50.0%. - FY2018Lower revenue and earnings; higher advertising expensesAnnual report
「As a result, operating income decreased by ¥491 million, or 13.4%, year on year to ¥3,166 million; ordinary income decreased by ¥452 million, or 12.5%, to ¥3,160 million; and net income attributable to owners of the parent decreased by ¥511 million, or 19.6%, to ¥2,092 million.」
For the full year, net sales declined 3.8%, operating income declined 13.4%, ordinary income declined 12.5%, and net income attributable to owners of the parent declined 19.6%. The company cited the loss of an exceptionally large project and higher costs associated with the increase in consultants, among other factors. Advertising expenses also increased from ¥155 million to ¥255 million. - FY2018-Q3Lower revenue and profitAnnual report
「As a result, for the nine-month period ended [date], consolidated net sales were ¥6,367 million, down 4.2% year on year; operating income was ¥2,743 million, down 10.8%; ordinary income was ¥2,737 million, down 9.7%; and net income attributable to owners of the parent was ¥1,879 million, down 10.5%.」
Net sales, operating income, ordinary income and net income attributable to owners of the parent all declined year on year. The company attributed the results to the reaction to Recof's large transactions in the previous year and higher cost of sales associated with the increase in projects held. - FY2018-Q2Revenue growth, operating profit decline and net income growthAnnual report
「As a result, revenue for the six-month period ended the second quarter of the consolidated fiscal year was ¥4,900.968 million, up 0.7% year on year, operating profit was ¥2,302.197 million, down 1.2%, ordinary profit was ¥2,301.467 million, down 0.6%, and quarterly net profit attributable to owners of the parent was ¥1,600.049 million, up 2.7%.」
Revenue increased slightly, while operating profit and ordinary profit declined. Quarterly net profit attributable to owners of the parent increased, marking a change from the revenue and profit declines recorded in the same period of the previous year. - FY2018-Q1Lower revenue and profitAnnual report
「As a result, revenue for the first quarter of the consolidated fiscal year was ¥2,283.055 million, down 10.7% year on year, operating profit was ¥1,034.032 million, down 19.5%, ordinary profit was ¥1,034.38 million, down 18.7%, and quarterly net profit attributable to owners of the parent was ¥721.298 million, down 19.8%.」
Revenue, operating profit, ordinary profit, and quarterly net profit attributable to owners of the parent all decreased from the same period of the previous year. - FY2017AdvancedAnnual report
「As a result, revenue for the consolidated fiscal year was ¥8,337.246 million, operating profit was ¥3,656.654 million, ordinary profit was ¥3,612.458 million, and net profit attributable to owners of the parent was ¥2,603.394 million.」
For the full consolidated fiscal year, the company reported revenue of more than ¥8.3 billion, operating profit of more than ¥3.6 billion, ordinary profit of more than ¥3.6 billion, and net profit attributable to owners of the parent of more than ¥2.6 billion. - FY2017-Q3AdvancedAnnual report
「As large transactions were also completed smoothly at a pace exceeding expectations, revenue for the nine-month period ended the third quarter of the consolidated fiscal year was ¥6,644.211 million, operating profit was ¥3,074.921 million, ordinary profit was ¥3,031.41 million, and quarterly net profit attributable to owners of the parent was ¥2,099.185 million.」
Against the backdrop of completed large transactions, the company reported revenue of more than ¥6.6 billion, operating profit of more than ¥3 billion, ordinary profit of more than ¥3 billion, and quarterly net profit attributable to owners of the parent of more than ¥2 billion for the nine-month period ended the third quarter on a consolidated basis. - FY2017-Q2AdvancedAnnual report
「As large transactions were also completed smoothly at a pace exceeding expectations, revenue for the six-month period ended the second quarter of the consolidated fiscal year was ¥4,865.187 million, operating profit was ¥2,330.445 million, ordinary profit was ¥2,315.668 million, and quarterly net profit attributable to owners of the parent was ¥1,558.391 million.」
Against the backdrop of completed large transactions, the company reported revenue of more than ¥4.8 billion, operating profit of more than ¥2.3 billion, and quarterly net profit attributable to owners of the parent of more than ¥1.5 billion for the six-month period ended the second quarter on a consolidated basis. - FY2017-Q1AdvancedAnnual report
「As a result, revenue for the first quarter of the consolidated fiscal year was ¥2,556.74 million, operating profit was ¥1,284.367 million, ordinary profit was ¥1,272.351 million, and quarterly net profit attributable to owners of the parent was ¥899.784 million.」
In the first quarter of the first year of consolidation, the company reported revenue of more than ¥2.5 billion and operating profit of more than ¥1.2 billion, among other results. - FY2016AdvancedAnnual report
「As a result, revenue for the fiscal year was ¥3,755.105 million, up 31.9% year on year, operating profit was ¥1,860.436 million, up 20.0%, ordinary profit was ¥1,860.684 million, up 22.0%, and net profit was ¥1,081.741 million, up 21.2%.」
The company progressed from nine-month results to full-year results, with revenue, operating profit, ordinary profit, and net profit all increasing year on year. - FY2016-Q3First statedAnnual report
「As a result, for the nine-month period ended the third quarter, revenue was ¥2,206.192 million, up 6.7% year on year, operating profit was ¥1,014.047 million, down 10.4%, ordinary profit was ¥1,014.307 million, down 8.3%, and quarterly net profit was ¥590.563 million, down 3.3%. The increase in revenue but decrease in profit was due to proactive capital investment to expand the business and higher advertising expenses for seminars and other activities compared with the same period of the previous year.」
Revenue increased, while operating profit, ordinary profit, and quarterly net profit decreased, with the company attributing the declines to higher capital investment and advertising expenses.