Earnings pressure from the shift from rentals to company-owned assets and soaring crude oil and raw material prices
First written in FY2019. 4 of 16 entries say "Restated". Latest entry: 2026-10-15.
No other company in this theme has enough history to compare yet.
- FY2026-H1WorsenedAnnual report
「On the cost side, the upward trend in depot operating and transportation costs due to higher personnel and energy costs, in addition to depreciation resulting from the increase in pallets held, is continuing. However, transportation costs remained below plan.」
It states that depreciation expense associated with the increase in the number of pallets held, as well as depot operating and transportation costs driven by higher labor and energy costs, continue to trend upward. Meanwhile, transportation costs were below plan. - FY2025-H1Timing of the realization of the benefits of passing through higher costs specifiedAnnual report
「Regarding the pass-through to rental rates initiated in the previous fiscal year to absorb increases in depot operating and transportation costs, the full impact is expected to emerge from the second half onward.」
The company indicated that the full impact of passing through higher costs to rental rates, initiated in the previous fiscal year, is expected to emerge from the second half onward. Cost increases due to higher personnel and energy costs are also continuing. - FY2024AdvancedAnnual report
「In addition, as personnel and energy costs rose, depot operating and transportation costs increased. We therefore began passing these cost increases through to rental rates.」
The company progressed from initiating negotiations to raise rental rates to the stage of beginning to pass the cost increases through to rental rates. - FY2024-Q3Start of negotiations to raise rental ratesAnnual report
「As the number of pallets held increased, depreciation and storage costs also rose. In these circumstances, we began negotiations to raise rental rates.」
The company reported increases in depreciation and storage costs due to the larger number of pallets held and, in response, began negotiations to raise rental rates. - FY2023-Q3RestatedAnnual report
「During the third quarter of the current consolidated cumulative period, COVID-19 was reclassified under the Infectious Diseases Act, and socioeconomic activity moved toward normalization on a recovery path, with the economy showing signs of a moderate recovery. Meanwhile, the uncertain outlook continued as prices and interest rates remained elevated due to soaring global raw material prices and other factors.」
The company reaffirmed that inflation resulting from surging raw material prices and rising interest rates continue. - FY2023-Q2RestatedAnnual report
「Amid continuing global inflationary trends, the outlook remains uncertain due to higher product prices resulting from surging fuel prices and stagnant personal consumption.」
The company reaffirmed that uncertainty in the external environment continues, including higher product prices due to surging fuel prices and concerns over stagnant personal consumption. - FY2023-Q1RestatedAnnual report
「The external environment remains uncertain, including concerns that higher product prices resulting from surging raw material prices could dampen personal consumption.」
The company stated that higher product prices resulting from surging raw material prices and concerns over stagnant personal consumption continue. - FY2022MaterialisedAnnual report
「Sales revenue fell below the previous year's level due to higher raw material prices caused by rising crude oil prices and the weaker yen.」
Higher raw material prices caused by rising crude oil prices and the weaker yen were reflected in actual performance as sales revenue falling below the previous year's level. - FY2022-Q3MaterialisedAnnual report
「Sales revenue fell below the year-earlier level due to higher raw material prices caused by rising crude oil prices and the weaker yen.」
The company stated that higher raw material prices caused by rising crude oil prices and the weaker yen were reflected in actual performance as sales revenue falling below the year-earlier level. - FY2021RestatedAnnual report
「Accordingly, we control pallet procurement in line with customers' rental demand and optimize our inventory of rental pallets held.」
The company reaffirmed its response of controlling procurement in line with rental demand and optimizing held inventory. - FY2020MitigatedAnnual report
「Accordingly, we control pallet procurement in line with customers' rental demand and optimize our inventory of rental pallets held.」
The company specified procurement controls aligned with rental demand and optimization of held inventory as measures. - FY2019First statedAnnual report
「If, due to economic conditions, customers increasingly shift from renting pallets and other logistics equipment to owning them, rental sales will decline as equipment is returned. As we regularly purchase a wide variety of logistics equipment, including wooden and plastic pallets and metal equipment, procurement prices rise when crude oil and raw material prices remain elevated.」
The company identified customers' shift from rental to ownership, higher storage fees due to returns, worsening supply-demand balance, rising crude oil and raw material prices, and difficulty passing through higher costs as factors affecting performance.