Higher Personnel Costs Following Wage Increases
First written in FY2024-Q1. 5 of 6 entries say "Restated". Latest entry: FY2026-H1.
The whole theme swung hardest in 2018: 1 of 6 companies on the "Worse" side.
2 other companies' latest entry also says "Restated".
- FY2026-H1RestatedAnnual report
「SG&A expenses increased year on year because of higher personnel costs following wage increases and higher IT investment and expenses.」
Personnel costs following wage increases and IT investment and expenses continued to push up SG&A. - 2026-05-14RestatedEarnings
「Selling, general and administrative expenses (SG&A expenses) increased mainly because of higher personnel expenses associated with wage increases.」
Higher personnel expenses associated with wage increases continued to be identified as a factor behind the increase in SG&A expenses. - FY2025-H1RestatedAnnual report
「On the SG&A side, amortization associated with active IT-system investment and outsourced costs such as cloud fees increased, raising total IT-system-related costs, as did personnel expenses to improve employee compensation.」
Higher personnel costs from improved employee compensation continued to be reported. Together with higher IT costs, they increased SG&A, and the provision for bonuses was also increased in preparation for performance-based bonus payments. - FY2024RestatedAnnual report
「SG&A expenses increased because of higher personnel costs following wage increases and higher IT costs resulting from increased cloud fees and outsourced personnel costs. However, because the increase was below the rate of sales growth, the SG&A ratio declined and the cost structure improved.」
Costs from wage increases, cloud fees and higher outsourced personnel costs continued to rise, but faster sales growth improved the SG&A ratio and cost structure. - FY2024-H1RestatedAnnual report
「SG&A expenses increased because of higher personnel costs following wage increases and higher IT investment and expenses aimed at generating future earnings. However, because the increase was below the rate of sales growth, the SG&A ratio declined and improved.」
Personnel costs following wage increases and IT investment and expenses for future earnings continued to rise, while sales growth improved the SG&A ratio. - FY2024-Q1First statedAnnual report
「SG&A expenses increased because of higher personnel costs following wage increases and higher IT investment and expenses aimed at generating future earnings, although the SG&A ratio became more efficient as sales increased.」
Higher personnel costs following wage increases were first explicitly identified as a driver of higher SG&A. The SG&A ratio improved with sales growth, but SG&A increased in absolute terms.