Higher revenue fails to prevent declines in all profit measures as low-margin projects and higher SG&A expenses weigh
First written in FY2017-Q1. 15 of 33 entries say "Advanced", first in FY2017. Latest entry: 2026-08-05.
The whole theme swung hardest in 2021: 5 of 10 companies on the "Worse" side.
2 other companies' latest entry also says "Other".
- 2026-08-05OtherEarnings
「As a result, revenue was ¥2,281 million, down 13.8% from the same period of the previous year, operating profit was ¥85 million, down 76.3%, ordinary profit was ¥116 million, down 69.6%, and profit attributable to owners of the parent was ¥82 million, down 67.2%.」
The company reported lower revenue and profit in the first quarter, mainly due to the reaction to deliveries of large projects in the same period of the previous year. - FY2026-H1AdvancedAnnual report
「Higher sales increased gross profit 3.6% to ¥2,568 million. SG&A expenses increased due to the effects of continued wage increases, proactive sales promotion and investment in research and development, but the increase in gross profit absorbed the higher expenses. Operating profit increased 3.3% to ¥800 million, ordinary profit increased 4.6% to ¥845 million, and interim net profit attributable to owners of the parent increased 2.0% to ¥576 million.」
The increase in gross profit absorbed higher SG&A expenses from wage increases, sales promotion and research and development investment, resulting in higher profit across all measures. - FY2025AdvancedAnnual report
「Net sales increased 0.9% year on year to ¥11,119 million, setting a record high for the second consecutive period. Operating profit increased 1.3% to ¥1,603 million, ordinary profit increased 2.1% to ¥1,645 million, and net profit attributable to owners of the parent increased 1.8% to ¥1,217 million, all reaching record highs for the second consecutive period.」
Full-year sales and profit increased for the second consecutive period, with net sales, operating profit, ordinary profit and net profit continuing to reach record highs. - FY2025-H1AdvancedAnnual report
「In addition to the benefit of higher sales, the contribution margin rose due to a change in sales mix, increasing gross profit 9.3% to ¥2,479 million. SG&A expenses also increased due to wage increases and more active business operations, but the increase in gross profit absorbed the higher expenses. Operating profit therefore increased 9.9% to ¥774 million, ordinary profit increased 11.5% to ¥808 million, and interim net profit attributable to owners of the parent increased 11.1% to ¥565 million.」
The contribution margin rose due to a change in sales mix, and the increase in gross profit absorbed higher SG&A expenses from wage increases and more active business operations, resulting in higher profit across all measures. - FY2024AdvancedAnnual report
「For the consolidated fiscal year, the group's net sales increased 13.0% year on year to ¥11,015 million, setting a record high. Operating profit increased 8.5% to ¥1,582 million, ordinary profit increased 9.2% to ¥1,611 million, and net profit attributable to owners of the parent increased 12.7% to ¥1,195 million, all reaching record highs for the second consecutive period.」
Full-year sales increased, and operating profit, ordinary profit and net profit attributable to owners of the parent also reached record highs for the second consecutive period. - FY2024-Q3AdvancedAnnual report
「As a result, net sales increased to ¥7,957 million, up 18.6% year on year. In terms of earnings, although the company was affected by sharply higher prices for purchased materials and other items, higher sales drove an increase in gross profit, which reached ¥3,545 million, up 14.4%. Selling, general and administrative expenses are trending higher, but the increase was more than absorbed by higher gross profit. Operating profit increased to ¥1,081 million, up 16.0%, ordinary profit to ¥1,107 million, up 17.5%, and net profit attributable to owners of the parent for the quarter to ¥778 million, up 23.3%.」
For the nine months ended, the benefit of higher sales absorbed the surge in material prices and higher SG&A expenses, resulting in increases in operating profit, ordinary profit and net profit. - FY2024-Q1AdvancedAnnual report
「Although SG&A expenses continued to trend upward, the increase in gross profit more than offset them. Operating profit therefore increased 76.3% to ¥231 million, ordinary profit increased 75.6% to ¥247 million, and quarterly net profit attributable to owners of the parent increased 136.8% to ¥169 million.」
The situation shifted from the prior-year period, when sales increased but operating and ordinary profit declined. Higher gross profit absorbed the increase in SG&A expenses, resulting in higher operating profit, ordinary profit and net profit. - FY2023-Q3AdvancedAnnual report
「As a result, net sales increased to ¥6,708 million, up 8.5% year on year. In terms of earnings, although the company was partly affected by higher prices for purchased materials and other items, the impact was absorbed by higher profit accompanying the increase in sales and other factors. Gross profit therefore increased to ¥3,099 million, up 6.7%. The increase in selling, general and administrative expenses accompanying the recovery in corporate activity was also absorbed by higher gross profit. Operating profit increased to ¥932 million, up 12.7%, ordinary profit to ¥942 million, up 8.0%, and net profit attributable to owners of the parent for the quarter to ¥631 million, up 7.5%.」
For the nine months ended, the benefit of higher sales absorbed the increases in material prices and SG&A expenses, resulting in higher operating profit, ordinary profit and net profit. - FY2023-Q2Recovery to higher sales and profitAnnual report
「As a result, net sales increased to ¥4,279 million, up 8.4% year on year. In terms of earnings, although the company was partly affected by higher prices for purchased materials and other items, the impact was absorbed by higher profit accompanying the increase in sales and other factors. Gross profit therefore increased to ¥1,974 million, up 8.1%. The increase in selling, general and administrative expenses accompanying the recovery in corporate activity was also absorbed by higher gross profit. Operating profit increased to ¥548 million, up 18.2%, ordinary profit to ¥556 million, up 11.7%, and net profit attributable to owners of the parent for the quarter to ¥356 million, up 10.8%.」
The recovery from the previous period's continued lower sales and profit continued, with the six months ended recording higher sales and increases in operating profit, ordinary profit and net profit. - FY2023-Q1Profit declined despite higher sales due to the contribution margin and higher SG&A expensesAnnual report
「Net sales increased 3.1% year on year to ¥1,907 million. Although higher sales increased profit, gross profit rose only slightly, by 0.5% to ¥843 million, due to a lower contribution margin and the decline from the prior-year quarter's profit increase following the adoption of the revenue recognition accounting standard and related measures. As business activity recovered, SG&A expenses moved back toward pre-pandemic levels and increased by more than gross profit, causing operating profit to decline 3.6% to ¥131 million and ordinary profit to decline 4.8% to ¥141 million.」
The trend shifted from higher sales and profit in the previous period, with sales increasing this quarter but operating and ordinary profit declining due to a lower contribution margin and higher SG&A expenses. - FY2022Shift to higher revenue and profit for the full yearAnnual report
「For the consolidated fiscal year, the group's net sales increased 4.9% year on year to ¥8,676 million. Operating profit increased 44.7% to ¥1,217 million, ordinary profit increased 49.6% to ¥1,266 million, and net profit attributable to owners of the parent increased 49.2% to ¥880 million.」
The trend shifted from lower sales and profit across all measures through the previous period to higher full-year sales and profit. - FY2022-Q3AdvancedAnnual report
「As a result, net sales increased to ¥6,182 million, up 6.3% year on year. In terms of earnings, the gross profit margin improved as the sales mix shifted toward higher-value-added products such as the “Smooth Flow Pump,” resulting in gross profit increasing to ¥2,905 million, up 14.8%. Selling, general and administrative expenses increased as corporate activities gradually resumed, but the increase was absorbed by higher gross profit. Operating profit increased to ¥827 million, up 40.1%, and ordinary profit to ¥872 million, up 46.6%. Although extraordinary losses, including a special contribution payment, were recognized, net profit attributable to owners of the parent for the quarter increased to ¥587 million, up 43.6%.」
The recovery to higher sales and profit from the prior-year trend of lower sales and profit continued through the nine months ended, with operating profit up 40.1%, ordinary profit up 46.6% and net profit up 43.6%. - FY2022-Q2Recovery to higher sales and profit continuedAnnual report
「As a result, net sales increased to ¥3,949 million, up 4.1% year on year. In terms of earnings, the gross profit margin improved as the sales mix shifted toward higher-value-added products such as the “Smooth Flow Pump,” resulting in gross profit increasing to ¥1,826 million, up 10.8%. Selling, general and administrative expenses increased as corporate activities gradually resumed, but the increase was absorbed by higher gross profit. Operating profit increased to ¥464 million, up 28.1%, and ordinary profit to ¥498 million, up 38.3%. Although extraordinary losses, including a special contribution payment, were recognized, net profit attributable to owners of the parent for the quarter increased to ¥321 million, up 30.5%.」
The recovery to higher sales and profit from lower sales and profit in the prior-year period continued through the six months ended, and net profit remained above the prior-year period even after extraordinary losses were recorded. - FY2022-Q1Higher sales and operating and ordinary profit, but lower net profit due to extraordinary lossesAnnual report
「As a result, net sales increased to ¥1,849 million, up 2.6% year on year. In terms of earnings, the gross profit margin improved as the sales mix shifted toward higher-value-added products such as the “Smooth Flow Pump,” while the application of the revenue recognition accounting standard and other factors also increased profit. Consequently, gross profit increased to ¥839 million, up 6.2%. Selling, general and administrative expenses increased as corporate activities gradually resumed, but the increase was absorbed by higher gross profit. Operating profit increased to ¥136 million, up 4.7%, and ordinary profit to ¥148 million, up 7.5%. Meanwhile, net profit attributable to owners of the parent for the quarter decreased to ¥86 million, down 5.4%, due to the recognition of a special contribution payment and impairment loss.」
Higher sales and an improved gross profit margin increased operating and ordinary profit, but net profit declined due to a special bonus and impairment losses. - FY2021-Q3Net sales and all profit measures continued to decline, but the rate of decline in net sales narrowed.Annual report
「As a result, net sales decreased to ¥5,818 million, down 5.0% year on year. In terms of earnings, in addition to the decline in net sales, the gross profit margin deteriorated due to the higher fixed-cost ratio and other factors, resulting in gross profit decreasing to ¥2,531 million, down 9.1%. Selling, general and administrative expenses decreased as various expenses declined due to restrictions on corporate activities. However, this was insufficient to offset the decline in gross profit. Operating profit decreased to ¥590 million, down 17.8%, ordinary profit to ¥595 million, down 19.1%, and net profit attributable to owners of the parent for the quarter to ¥408 million, down 21.1%.」
In the nine months ended, lower sales and declines in all profit measures continued, although the year-on-year rate of decline in net sales narrowed from the six months ended. - FY2021-Q2Declines in revenue and all profit measures continueAnnual report
「As a result, net sales decreased to ¥3,793 million, down 8.0% year on year. In terms of earnings, in addition to the decline in net sales, the gross profit margin deteriorated as the fixed-cost ratio rose, resulting in gross profit decreasing to ¥1,648 million, down 11.4%. Selling, general and administrative expenses decreased as various expenses declined due to restrictions on corporate activities. However, this was insufficient to offset the decline in gross profit. Operating profit decreased to ¥362 million, down 27.6%, ordinary profit to ¥360 million, down 30.1%, and net profit attributable to owners of the parent for the quarter to ¥246 million, down 30.5%.」
For the six months ended, sales continued to decline, while deterioration in the overall profit margin due to a higher fixed-cost ratio added to the pressure, resulting in declines in operating profit, ordinary profit and net profit. - FY2021-Q1All profit measures declined due to lower sales and a higher fixed-cost ratioAnnual report
「As a result, net sales decreased to ¥1,802 million, down 6.3% year on year. In terms of earnings, in addition to the decline in net sales, the gross profit margin deteriorated as the fixed-cost ratio rose, resulting in gross profit decreasing to ¥790 million, down 8.6%. Selling, general and administrative expenses decreased as various expenses declined due to restrictions on corporate activities. However, this was insufficient to offset the decline in gross profit. Operating profit decreased to ¥129 million, down 32.2%, ordinary profit to ¥137 million, down 33.2%, and net profit attributable to owners of the parent for the quarter to ¥91 million, down 36.0%.」
Lower sales and a deterioration in margins due to a higher fixed-cost ratio reduced gross profit, which could not be offset by lower SG&A expenses. Operating profit, ordinary profit and net profit all declined. - FY2020All profit measures declined due to lower sales, lower gross profit and higher personnel costsAnnual report
「Net sales declined 8.2% year on year to ¥8,414 million. Operating profit fell 29.4% to ¥1,000 million, ordinary profit fell 29.4% to ¥1,017 million, and net profit attributable to owners of the parent fell 29.8% to ¥714 million.」
The trend shifted from higher sales and record profit in the previous period, as lower sales, lower gross profit and higher personnel costs associated with strengthening the organisational structure weighed on all profit measures. - FY2020-Q3Profit declined due to a change in sales mix, lower sales and higher SG&A expensesAnnual report
「As a result, net sales decreased to ¥6,122 million, down 10.6% year on year. In terms of earnings, the gross profit margin declined due to a change in the sales mix, while factors contributing to the decline in sales had a significant impact. Consequently, gross profit decreased to ¥2,783 million, down 12.8%. Selling, general and administrative expenses increased due to higher personnel expenses associated with strengthening the organisational structure. As a result, operating profit decreased to ¥718 million, down 37.9%, ordinary profit to ¥736 million, down 37.4%, and net profit attributable to owners of the parent for the quarter to ¥517 million, down 36.9%.」
In addition to lower sales and a lower profit margin due to a change in sales mix, SG&A expenses increased as personnel costs rose in line with efforts to strengthen the organisational structure, resulting in lower profit across all measures. - FY2020-Q2Higher cost ratio added to the pressure on profitAnnual report
「As a result, revenue decreased 3.9% year on year to ¥4.122 billion. In terms of profit, gross profit decreased 5.1% to ¥1.861 billion due to a higher cost ratio and the significant impact of lower revenue. Selling, general and administrative expenses increased due to higher personnel expenses associated with strengthening the business structure. Operating profit decreased 19.5% to ¥500 million, ordinary profit decreased 18.9% to ¥515 million, and net profit attributable to owners of the parent decreased 19.6% to ¥354 million.」
In addition to lower sales and higher SG&A expenses, the cost ratio increased, leaving all profit measures below the prior-year period for the six months ended. - FY2020-Q1Profit declined due to lower sales and higher SG&A expensesAnnual report
「As a result, revenue decreased 3.7% year on year to ¥1.923 billion. In terms of profit, although the company maintained a cost ratio at approximately the same level as in the same quarter of the previous year, lower revenue weighed on results, and gross profit decreased 3.5% to ¥865 million. Selling, general and administrative expenses increased due to higher personnel expenses associated with strengthening the business structure. Operating profit decreased 19.9% to ¥191 million, ordinary profit decreased 16.9% to ¥206 million, and net profit attributable to owners of the parent decreased 15.9% to ¥142 million.」
In addition to lower sales, SG&A expenses increased due to higher personnel costs associated with strengthening the operating structure, leaving all profit measures below the prior-year period. - FY2019AdvancedAnnual report
「For the consolidated fiscal year, the group's net sales increased 17.2% year on year to ¥9,162 million. Operating profit increased 59.0% to ¥1,416 million, ordinary profit increased 56.8% to ¥1,440 million, and net profit attributable to owners of the parent increased 35.2% to ¥1,018 million, all reaching record highs.」
The trend shifted from lower sales and operating and ordinary profit in the previous period, with full-year sales and profit increasing and all profit measures reaching record highs. - FY2019-Q3AdvancedAnnual report
「Revenue increased 23.6% year on year to ¥6.845 billion. In terms of profit, expanded sales of high-value-added products centered on the Smooth Flow Pump made a significant contribution to higher profit, and gross profit increased 33.3% to ¥3.192 billion. Despite higher selling, general and administrative expenses, operating profit increased 136.9% to ¥1.157 billion, ordinary profit increased 128.5% to ¥1.175 billion, and net profit attributable to owners of the parent increased 86.2% to ¥821 million, all reaching substantially higher record highs.」
The trend shifted from lower full-year sales and operating and ordinary profit in the previous period. In the nine months ended, higher sales and substantial profit growth continued, supported by expanded sales of high-value-added products. - FY2019-Q2AdvancedAnnual report
「As a result, revenue increased 16.3% year on year to ¥4.289 billion. In terms of profit, high-value-added products centered on the Smooth Flow Pump made a significant contribution to higher profit, and gross profit increased 24.2% to ¥1.960 billion. Despite higher selling, general and administrative expenses, operating profit increased 97.7% to ¥621 million, ordinary profit increased 88.5% to ¥635 million, and net profit attributable to owners of the parent increased 77.3% to ¥440 million, all reaching new record highs by a substantial margin.」
The trend shifted from lower sales and operating and ordinary profit at the end of the previous period. In the six months ended, sales increased and profit rose substantially, with all profit measures reaching record highs by a wide margin. - FY2019-Q1AdvancedAnnual report
「As a result, revenue increased 16.2% year on year to ¥1.996 billion. In terms of profit, gross profit increased 21.8% to ¥896 million, as the higher sales mix of high-value-added products, including the Smooth Flow Pump, improved margins in addition to the effect of higher revenue. Operating profit increased 128.6% to ¥239 million, ordinary profit increased 125.5% to ¥248 million, and net profit attributable to owners of the parent increased 75.3% to ¥169 million, all reaching record highs.」
The trend shifted from lower sales and operating and ordinary profit at the end of the previous period. In the first quarter, sales increased, with operating profit up 128.6%, ordinary profit up 125.5% and net profit up 75.3%, resulting in substantial profit growth. - FY2018Full-year sales and operating and ordinary profit declined, but net profit increasedAnnual report
「Net sales declined 3.7% year on year to ¥7,817 million. Operating profit fell 4.7% to ¥890 million and ordinary profit fell 7.2% to ¥918 million, while net profit attributable to owners of the parent increased 7.5% to ¥753 million, a record high.」
The trend shifted from higher sales and profit in the quarter, with full-year sales and operating and ordinary profit declining, while net profit increased due to gains on sales of investment securities and other factors. - FY2018-Q3Lower sales and operating and ordinary profit, but higher net profit on extraordinary gainsAnnual report
「As a result, revenue decreased 3.7% year on year to ¥5.540 billion. In terms of profit, revenue from ballast water treatment equipment declined, but the sales mix shifted toward the high-value-added Smooth Flow Pump, raising the profit margin and limiting the decline in gross profit. However, due to higher selling, general and administrative expenses, operating profit decreased 9.6% to ¥488 million and ordinary profit decreased 13.4% to ¥514 million. Net profit attributable to owners of the parent increased 7.2% to ¥441 million, as the company recorded a gain of ¥101 million on the sale of investment securities.」
The trend of higher sales and profit through the previous quarter changed in the nine months ended, with lower sales and declines in operating and ordinary profit. Net profit attributable to owners of the parent nevertheless increased due to gains on sales of investment securities. - FY2018-Q2AdvancedAnnual report
「As a result, net sales increased to ¥3,689 million, up 3.1% year on year. Higher sales and an improved gross profit margin increased gross profit, while SG&A expenses rose only slightly. Operating profit therefore increased 31.8% to ¥314 million, ordinary profit increased 20.5% to ¥337 million, and quarterly net profit attributable to owners of the parent increased 26.6% to ¥248 million.」
For the six months ended, higher sales and profit continued, with net sales up 3.1% year on year, operating profit up 31.8%, ordinary profit up 20.5% and quarterly net profit attributable to owners of the parent up 26.6%. - FY2018-Q1AdvancedAnnual report
「As a result, net sales increased to ¥1,717 million, up 9.1% year on year. Higher-value-added products, including Smooth Flow Pumps, contributed to the increase in sales and lifted the overall gross profit margin, raising gross profit 19.3% to ¥735 million. Although SG&A expenses increased and non-operating income declined, operating profit rose to ¥104 million from ¥6 million in the prior-year quarter, ordinary profit increased 357.3% to ¥110 million, and quarterly net profit attributable to owners of the parent increased 408.7% to ¥96 million, with all three measures recording substantial increases.」
The company reported a substantial recovery from lower profit in the prior-year period, with net sales up 9.1%, ordinary profit up 357.3% and quarterly net profit attributable to owners of the parent up 408.7%. - FY2017AdvancedAnnual report
「Net sales increased 5.1% year on year to ¥8,115 million, setting a record high for the third consecutive period. Profit also increased, as the higher sales and a higher mix of high-value-added products, including Smooth Flow Pumps, improved the gross profit margin.」
The quarterly trend of higher sales and profit continued for the full year, leading to record highs in both net sales and profit. - FY2017-Q3Higher revenue and profit continuedAnnual report
「As a result, net sales increased to ¥5,753 million, up 14.5% year on year. Higher sales improved the gross profit margin, resulting in operating profit of ¥540 million, up 69.1%, ordinary profit of ¥594 million, up 53.4%, and quarterly net profit attributable to owners of the parent of ¥411 million, up 57.7%, with all three measures increasing.」
Following lower profit in the first quarter and a return to higher sales and profit in the second quarter, the nine-month period also saw higher sales and increases in operating profit, ordinary profit and net profit. - FY2017-Q2Return to revenue and profit growthAnnual report
「As a result, net sales increased to ¥3,577 million, up 11.4% year on year. As sales increased, operating profit rose 22.2% to ¥238 million, ordinary profit rose 16.8% to ¥279 million, and quarterly net profit attributable to owners of the parent rose 25.3% to ¥196 million.」
The trend shifted from the previous quarter's explanation of lower profit due to low-margin projects, with operating profit, ordinary profit and net profit all increasing this quarter on higher sales. - FY2017-Q1First statedAnnual report
「Net sales increased to ¥1,573 million, up 9.7% year on year, but because the increase came from low-margin projects, the overall gross profit margin declined. Gross profit therefore rose less than sales, to ¥616 million, up 3.6% year on year. As selling, general and administrative expenses increased, operating profit fell 63.6% to ¥6 million, ordinary profit fell 30.3% to ¥24 million, and quarterly net profit attributable to owners of the parent fell 13.1% to ¥18 million.」
Although net sales increased 9.7%, operating profit, ordinary profit and quarterly net profit attributable to owners of the parent all fell below the prior-year quarter due to a lower gross profit margin from low-margin projects and higher SG&A expenses.