Increase in Labor Costs Due to the Rise in the Minimum Wage
First written in FY2019-Q3. 12 of 14 entries say "Restated". Latest entry: FY2027-H1.
Echo Trading moved to the "Worse" side of this theme in 2026, 2 years after the typical company in this theme (2024).
The whole theme swung hardest in 2023: 7 of 11 companies on the "Worse" side.
7 other companies' latest entry also says "Materialised".
- FY2027-H1MaterialisedAnnual report
「In addition to higher purchase prices, costs including logistics expenses continue to rise. Although the Company is working to pass these cost increases on to selling prices, it has not yet achieved sufficient pass-through for the various cost increases, which is causing the gross profit margin to decline and operating profit to deteriorate.」
Amid an environment of rising costs, including personnel expenses, insufficient pass-through of cost increases to prices is causing the profit margin to decline and operating profit to deteriorate. - FY2026-H1RestatedAnnual report
「Higher personnel, raw material and logistics costs」
The risk of higher costs, including higher personnel expenses, continues to be disclosed alongside increases in raw material and logistics costs. - FY2025-Q1RestatedAnnual report
「Various costs, including personnel expenses, electricity charges and delivery costs, continue to rise due to labor shortages, and the operating environment surrounding the pet market remains challenging.」
The risk of higher costs, including higher personnel expenses due to labor shortages, continues to be disclosed. - FY2024-Q3RestatedAnnual report
「In the pet industry, the number of dogs kept as pets continues to decline, purchase prices continue to rise due to higher crude oil and raw material prices, personnel costs continue to increase due to labor shortages, and various other costs, including electricity and delivery costs, continue to rise, leaving the business environment surrounding the pet market challenging.」
The challenging operating environment, including higher personnel expenses due to labor shortages, continues to be disclosed. - FY2024-Q2RestatedAnnual report
「In the pet industry, the number of dogs kept as pets continues to decline, purchase prices continue to rise due to higher crude oil and raw material prices, personnel costs continue to increase due to labor shortages, and various other costs, including electricity and delivery costs, continue to rise, leaving the business environment surrounding the pet market challenging.」
The challenging operating environment, including higher personnel expenses due to labor shortages, continues to be disclosed. - FY2024-Q1RestatedAnnual report
「In the pet industry, the number of dogs kept as pets continues to decline, purchase prices continue to rise due to higher crude oil and raw material prices, personnel costs continue to increase due to labor shortages, and various other costs, including electricity and delivery costs, continue to rise, leaving the business environment surrounding the pet market challenging.」
The challenging operating environment, including higher personnel expenses due to labor shortages, continues to be disclosed. - FY2023-Q3RestatedAnnual report
「The pet industry continues to face a challenging operating environment, including higher procurement costs due to soaring crude oil and raw material prices, uncertainty over the supply of overseas products, and rising labor and logistics costs due to labor shortages.」
The challenging operating environment, including higher personnel and logistics costs due to labor shortages, continues to be disclosed. - FY2023-Q2RestatedAnnual report
「The pet industry continues to face a challenging environment, including higher procurement costs due to soaring crude oil and raw material prices, uncertainty over the supply of overseas products, intensifying price competition within the industry, and rising labor and logistics costs.」
Higher personnel expenses continue to be identified as a factor in the challenging operating environment, alongside raw material prices, logistics costs and price competition. - FY2023-Q1RestatedAnnual report
「The pet industry continues to face a challenging environment, including higher procurement costs due to soaring crude oil and raw material prices, uncertainty over the supply of overseas products, intensifying price competition within the industry, and rising labor and logistics costs.」
Higher personnel expenses continue to be identified as a factor in the challenging operating environment, alongside raw material prices, logistics costs and price competition. - FY2022RestatedAnnual report
「A challenging operating environment is expected to continue, including higher personnel and logistics costs resulting from a chronic labor shortage.」
The risk of higher labor costs, including higher personnel expenses due to labor shortages, continues to be identified. - FY2021-Q2RestatedAnnual report
「Although the impact of COVID-19 on the pet industry was limited, the industry continues to face a challenging environment, including higher procurement costs due to soaring raw material prices, intensifying price competition within the industry, and rising labor and logistics costs.」
The risk of higher labor costs, including higher personnel and logistics costs, continues to be identified as part of the challenging operating environment. - FY2020RestatedAnnual report
「The pet industry is also expected to continue facing a challenging operating environment, including slower growth in the pet market due to the ongoing decline in the number of dogs kept as pets, intensifying price competition within the industry, and higher personnel and logistics costs resulting from a chronic labor shortage.」
The risk of higher labor costs continues to be identified, with the wording broadened from the minimum wage to higher personnel expenses due to a chronic labor shortage. - FY2019RestatedAnnual report
「Selling, general and administrative expenses totaled ¥9.534 billion, up 1.9% year on year, due to higher delivery costs and personnel expenses resulting from a declining working-age population, among other factors,」
Rather than referring to the minimum wage, the disclosure states that higher labor costs due to a declining working-age population affected full-year results. - FY2019-Q3First statedAnnual report
「The operating loss was affected by higher logistics costs, including the acceptance of requests to raise delivery charges, and higher personnel expenses due to an increase in the minimum wage, and amounted to ¥77 million, compared with operating income of ¥64 million in the same period of the previous year.」
Higher personnel expenses due to increases in the minimum wage are explicitly identified for the first time as a factor behind the actual operating loss.