Higher personnel costs and lower gross margins caused by labour shortages
First written in FY2018-Q1. 8 of 25 entries say "Restated". Latest entry: 2026-07-31.
Nakayamafuku moved to the "Worse" side of this theme in 2021, 1 year after the typical company in this theme (2020).
The whole theme swung hardest in 2025: 36 of 59 companies on the "Worse" side.
25 other companies' latest entry also says "Worsened".
- 2026-07-31WorsenedEarnings
「Increases in selling, general and administrative expenses, mainly variable costs such as freight and labor costs」
The Company continues to cite increases in selling, general and administrative expenses, mainly freight and labor costs. - FY2026WorsenedAnnual report
「However, if increases in logistics costs become more severe due to labor shortages and changes in working conditions in the logistics industry, this could adversely affect the group's operating results and financial position.」
In addition to the previous disclosures of actual increases in labor costs and freight costs caused by labor shortages, the company has explicitly identified a worsening increase in logistics costs caused by labor shortages in the logistics industry and other factors as a separate future risk. - 2026-05-08RestatedEarnings
「The Group has also faced the restructuring of industries to which its business partners belong, rising raw material and energy prices, and higher labor costs resulting from labor shortages,」
The Company continues to identify higher labor costs resulting from labor shortages as a burden in the business environment. - FY2025MitigatedAnnual report
「The company also controlled labor costs through more efficient logistics operations and promoted other expense reductions across the group, but freight costs remained high due to increased sales and other factors,」
The company implemented labor-cost controls through more efficient logistics operations and company-wide expense reductions. Although freight costs remained high, operating profit improved from a loss in the same period of the previous year to a profit of ¥154 million. - FY2025-H1MitigatedAnnual report
「Meanwhile, the impact of higher freight costs was addressed by containing personnel expenses through greater operational efficiency in logistics and promoting expense reductions across the Company, resulting in operating income of ¥6 million, compared with an operating loss of ¥198 million in the same period of the previous year.」
Amid continued increases in freight costs and labor expenses, the company implemented labor-cost controls through more efficient logistics operations and company-wide expense reductions, improving from an operating loss to an operating profit. - FY2024-Q3WorsenedAnnual report
「In terms of profit and loss, although the profitable plastic household products manufacturing business and interior products manufacturing and sales business performed well, the company posted an operating loss of ¥217 million, compared with operating profit of ¥161 million in the same period of the previous year, and ordinary profit of ¥33 million, down 92.4% year on year, due to the factors cited above for lower sales and gross margins, as well as the impact of persistently high personnel and logistics costs.」
Persistently high labor and logistics costs caused operating profit to turn from a profit in the same period of the previous year to an operating loss of ¥217 million, while ordinary profit fell 92.4% year on year. - FY2024-Q2WorsenedAnnual report
「Persistently high personnel and logistics costs mainly resulted in an operating loss of ¥198 million, compared with an operating loss of ¥3 million in the same period of the previous year, and an ordinary loss of ¥28 million, compared with ordinary profit of ¥190 million in the same period of the previous year.」
Persistently high personnel and logistics costs continued, widening the operating loss from ¥3 million in the same period of the previous year to ¥198 million, while ordinary profit also turned into an ordinary loss. - FY2024-Q1WorsenedAnnual report
「Persistently high personnel and logistics costs mainly resulted in an operating loss of ¥101 million, compared with an operating loss of ¥95 million in the same period of the previous year, and an ordinary loss of ¥7 million, compared with ordinary profit of ¥5 million in the same period of the previous year.」
The company states that persistently high personnel and logistics costs continued, the operating loss widened from the same period of the previous year, and ordinary profit turned into an ordinary loss. The impact of the cost burden on results was further quantified in the current quarter. - FY2023WorsenedAnnual report
「Although passing higher costs resulting from inflation on to selling prices kept the gross margin at the level of the same period of the previous year, persistently high personnel and logistics costs mainly resulted in operating profit of ¥115 million, down 79.1% year on year」
Although passing higher costs on to selling prices maintained the gross margin, persistently high personnel and logistics costs significantly reduced operating profit, and the cost burden continues. - FY2023-Q3Recovery in gross margin alongside the burden of logistics costsAnnual report
「Although passing higher costs resulting from inflation on to selling prices and other measures contributed to a recovery in the gross margin, the burden of logistics costs, including persistently high freight rates, offset the benefit, resulting in operating profit of ¥161 million, down 41.9% year on year.」
Although the gross margin recovered through selling-price revisions and other measures, the burden of logistics costs, including persistently high freight rates, offset the benefit, and operating profit declined 41.9% year on year. - FY2021WorsenedAnnual report
「The Group expects price competition and personnel and logistics costs to continue rising, and expects the operating environment surrounding the company to remain challenging.」
Although profit improved during the year through sales of high-margin products and other measures, increases in personnel and logistics costs continue to be cited as an expected risk. - FY2021-Q3RestatedAnnual report
「The gross margin in the household goods wholesale business, which handles household goods, daily necessities and other products, improved mainly because sales of high-margin products increased.」
The company states that the gross margin improved as sales of high-margin products increased. No new changes are indicated in the cost risks themselves relating to personnel costs, freight and other expenses. - FY2021-Q2MitigatedAnnual report
「In terms of profit and loss, increased sales of high-margin products and other factors resulted in operating profit of ¥463 million, compared with an operating loss of ¥74 million in the same period of the previous year, ordinary profit of ¥659 million, up 329.6% year on year, and quarterly net profit attributable to owners of the parent of ¥514 million, up 755.0% year on year.」
The company states that increased sales of high-margin products turned operating loss in the same period of the previous year into operating profit, while ordinary profit and quarterly net profit attributable to owners of the parent also increased. - FY2020MitigatedAnnual report
「The Group was also forced to operate under difficult conditions as it remained difficult to secure earnings, while personnel and logistics costs increased, consumer sentiment declined following the consumption tax rate increase, and, toward the end of the fiscal year, customers took a cautious approach amid concerns over the spread of COVID-19. Against this backdrop, the Group worked to increase sales of high-margin products.」
Although the burden of higher personnel and logistics costs and other expenses continues, the gross margin has improved as a result of increased sales of high-margin products. - FY2020-Q3MitigatedAnnual report
「Although the company worked to increase sales of high-margin products and improved its gross margin, lower sales in the household goods wholesale business and deteriorating results in the internet mail-order business classified as Other resulted in an operating loss of ¥158 million, compared with an operating loss of ¥191 million in the same period of the previous year.」
The gross margin improved as the company increased sales of high-margin products, and the operating loss narrowed from ¥191 million in the same period of the previous year to ¥158 million. However, the business as a whole remains loss-making at the operating level. - FY2020-Q2MitigatedAnnual report
「In terms of profit and loss, improvements in the gross margin and other factors resulted in an operating loss of ¥74 million, compared with an operating loss of ¥175 million in the same period of the previous year, ordinary profit of ¥153 million, down 11.5% year on year, and quarterly net profit attributable to owners of the parent of ¥60 million, down 17.1% year on year.」
Although the difficult earnings environment continues, improvements in the gross margin and other factors reduced the operating loss from ¥175 million in the same period of the previous year to ¥74 million. Ordinary profit and quarterly net profit attributable to owners of the parent both declined year on year. - FY2020-Q1WorsenedAnnual report
「Due to lower net sales and higher selling costs, including freight, the company posted an operating loss of ¥193 million, compared with an operating loss of ¥153 million in the same period of the previous year」
Higher selling costs, including freight, are cited as a factor worsening profit and loss in the current quarter, and the operating loss widened from the same period of the previous year. - FY2019RestatedAnnual report
「Although securing earnings became more difficult amid intensifying competition, increases in personnel costs, freight and other expenses forced the company to continue operating under difficult conditions.」
The difficulty of securing earnings amid intensifying competition and increases in personnel costs, freight and other expenses against the backdrop of labor shortages are described as actual operating conditions for the year. - FY2019-Q3RestatedAnnual report
「Although the sales of グリーンパル株式会社, an injection molding manufacturer acquired in the previous consolidated fiscal year, contributed to the Group's results, securing earnings became more difficult amid intensifying competition, while personnel costs, freight and other expenses increased, forcing the Group to continue operating under difficult conditions.」
Increases in personnel costs, freight and other expenses, together with the difficulty of securing earnings, continue to be cited as actual operating conditions. - FY2019-Q2RestatedAnnual report
「Although the sales of グリーンパル株式会社, an injection molding manufacturer acquired in the previous consolidated fiscal year, contributed to the Group's results, securing earnings became more difficult amid intensifying competition, while personnel costs, freight and other expenses increased, forcing the Group to continue operating under difficult conditions.」
Increases in personnel costs, freight and other expenses continue to be cited as actual operating conditions. - FY2019-Q1RestatedAnnual report
「Although the sales of グリーンパル株式会社, an injection molding manufacturer acquired in the previous consolidated fiscal year, contributed to the Group's results, securing earnings became more difficult amid intensifying competition, while personnel costs, freight and other expenses increased, forcing the Group to continue operating under difficult conditions.」
In addition to higher personnel costs, increases in freight and other expenses continue to be cited as actual operating conditions. - FY2018MaterialisedAnnual report
「The Group was also forced to operate under increasingly difficult conditions as gross margins declined amid intensifying competition, while personnel costs, freight and other expenses increased against the backdrop of labor shortages.」
Higher personnel costs and freight expenses due to labor shortages and lower gross margins are described as actual operating conditions for the year, indicating that the impact of the risks has materialized. - FY2018-Q3RestatedAnnual report
「The Group also remains in a challenging situation, including lower gross margins resulting from the deterioration in market conditions and higher personnel costs due to labor shortages.」
Lower gross margins resulting from deteriorating market conditions and higher personnel costs due to labor shortages continue to be cited as conditions affecting the Group. No specific financial impact was provided. - FY2018-Q2RestatedAnnual report
「The Group also remains in a challenging situation, including lower gross margins resulting from the deterioration in market conditions and higher personnel costs due to labor shortages.」
Lower gross margins resulting from deteriorating market conditions and higher personnel costs due to labor shortages continue to be cited as conditions affecting the Group. - FY2018-Q1First statedAnnual report
「The Group also remains in a challenging situation, including lower gross margins resulting from the deterioration in market conditions and higher personnel costs due to labor shortages.」
Higher personnel costs due to labor shortages and lower gross margins resulting from deteriorating market conditions were explicitly identified for the first time as actual conditions in the analysis of the current quarter's results. No quantified impact was provided.