Controlling Selling, General and Administrative Expenses Amid Price Increases
First written in FY2024-Q1. 3 of 8 entries say "Softened", first in FY2024-Q2. Latest entry: 2026-08-12.
The whole theme swung hardest in 2019: 2 of 20 companies on the "Worse" side.
11 other companies' latest entry also says "Advanced".
- 2026-08-12AdvancedEarnings
「Because newspaper advertising for fashion, where advertising efficiency was poor, was substantially reduced year on year, revenue declined while profit increased compared with the same period of the previous year.」
The company restrained inefficient newspaper advertising for fashion, increasing profit despite lower revenue. - FY2026AdvancedAnnual report
「Selling, general and administrative expenses amounted to ¥17,272 million, down 3.0% from the previous consolidated fiscal year, due mainly to a ¥770 million decrease in advertising expenses.」
Selling, general and administrative expenses declined 3.0% year on year, mainly due to a ¥770 million decrease in advertising expenses. - 2026-05-15AdvancedEarnings presentation
「While significantly reducing mass-media advertising with low efficiency, we are expanding stores, e-commerce and catalogues.」
The company presented a more specific policy of restraining advertising expenditure while investing in sales channels. - FY2025-H1ReframedAnnual report
「Another key initiative for the current fiscal year, improving advertising efficiency, is also progressing steadily. In particular, the media cost ratio, which indicates catalog costs as a percentage of sales, has been improving at a pace slightly ahead of the earnings forecast announced in May 2024.」
The focus has shifted from containing selling, general and administrative expenses overall to improving advertising efficiency, particularly media cost ratios such as catalog costs as a percentage of sales. - FY2024SoftenedAnnual report
「Selling, general and administrative expenses amounted to ¥16,328 million, up 15.8% from the previous consolidated fiscal year, due mainly to a ¥973 million increase in advertising expenses and a ¥79 million increase in employee benefit expenses.」
The increase in advertising expenses and other costs is more prominent than the containment of selling, general and administrative expenses, indicating that the policy of containing costs to improve profit margins has weakened. - FY2024-Q3SoftenedAnnual report
「Higher costs from active advertising investment aimed at increasing the customer base and sales left segment profit roughly at the previous year’s level.」
Rather than explaining the containment of selling, general and administrative expenses, the company described higher costs from active advertising investment aimed at increasing the customer base and sales. - FY2024-Q2SoftenedAnnual report
「With the aim of increasing sales from the second half onward, the company brought forward promotional spending to acquire new customers, resulting in a year-on-year decline in segment profit.」
The previous explanation that selling, general and administrative expenses had been contained amid rising prices was not repeated. Instead, the company explained that profit declined because promotional spending was brought forward to increase sales in the second half. - FY2024-Q1First statedAnnual report
「Selling, general and administrative expenses were also appropriately contained amid rising prices, allowing segment profit to remain solid.」
The company describes its track record of containing selling, general and administrative expenses amid rising prices as a factor supporting stable profit.