Decline in overseas segment profit due to M&A-related fees
First written in FY2023-Q3. 4 of 6 entries say "Mitigated", first in FY2024-Q1. Latest entry: FY2024.
0 other companies' latest entry also says "Mitigated".
- FY2024MitigatedAnnual report
「Although amortization of goodwill and other costs related to the acquisition of Okada Midwest, Inc. were incurred, the impact of higher North American revenue and lower ocean freight rates was significant, resulting in a substantial increase in segment profit to ¥907.583 million, up 178.2% year on year.」
While amortization of goodwill was incurred, higher North American revenue and lower ocean freight rates drove a 178.2% year-on-year increase in overseas segment profit for the full fiscal year. - FY2024-Q3MitigatedAnnual report
「With respect to segment profit, although amortization of goodwill recognized on the acquisition of Okada Midwest, Inc. and other expenses were incurred, the significant effects of higher revenue in North America and the normalization of ocean freight rates enabled the Company to secure solid profit growth to ¥855.0 million, up 195.1% year on year.」
Although amortization of goodwill related to the acquisition of Okada Midwest was incurred, overseas segment profit increased substantially due to higher North American revenue and the decline in ocean freight rates. - FY2024-Q2MitigatedAnnual report
「Although amortization of goodwill and other costs related to the acquisition of Okada Midwest, Inc. were incurred, the significant impact of higher North American revenue enabled the company to secure steady profit growth, with segment profit reaching ¥516.941 million, up 99.1% year on year.」
Although amortization of goodwill related to the acquisition of Okada Midwest was incurred, higher North American revenue contributed to a 99.1% year-on-year increase in overseas segment profit. - FY2024-Q1MitigatedAnnual report
「With respect to segment profit, despite incurring amortization of goodwill recognized on the acquisition of Okada Midwest, Inc. and other expenses, the Company secured higher profit of ¥173.0 million, up 24.6% year on year.」
Although amortization of goodwill related to the acquisition of Okada Midwest was incurred, overseas segment profit increased 24.6% year on year, turning from a decline caused by M&A-related expenses and other factors in the previous fiscal year to an increase. - FY2023WorsenedAnnual report
「Regarding profit, gross profit increased as the company grew sales in the North American market, where a certain level of profit is expected. However, segment profit declined to ¥326.235 million, down 22.1% year on year, due in part to the impact of higher ocean freight rates for most of the year, the expensing of one-off M&A-related fees, and the loss of the previous year’s profit-supporting contribution from the U.S. subsidiary’s Paycheck Protection Program (PPP).」
Gross profit increased on higher North American sales, but overseas segment profit declined 22.1% year on year due to higher ocean freight rates, ¥130.540 million in M&A-related fees and the loss of the PPP-related contribution. - FY2023-Q3First statedAnnual report
「Regarding profit, gross profit increased as the company grew sales in the North American market, where a certain level of profit is expected, and ocean freight rates, which had continued to rise sharply, were returning toward pre-COVID levels. However, segment profit declined to ¥289.716 million, down 7.4% year on year, due in part to the expensing of one-off M&A-related fees and the loss of the previous year’s profit-supporting contribution from the U.S. subsidiary’s Paycheck Protection Program (PPP).」
Although sales increased in North America and elsewhere, boosting gross profit, overseas segment profit declined 7.4% year on year due to the expensing of one-off M&A-related fees and the loss of the PPP-related profit contribution.