Maintaining an Operating Margin of at Least 10% and Further Improving Profitability
First written in FY2016. 24 of 40 entries say "Advanced", first in FY2017-Q1. Latest entry: 2026-07-31.
The whole theme swung hardest in 2019: 14 of 100 companies on the "Worse" side.
29 other companies' latest entry also says "Advanced".
- 2026-07-31AdvancedEarnings presentation
「営業利益率 13.3%」
第1四半期の営業利益率が13.3％となり、前年同期比で1.1ポイント上昇した。 - FY2026AdvancedAnnual report
「Operating margin 11.4% 11.6%」
Against the FY2025-27 operating margin target of 11.4%, the first-year result was 11.6%. - FY2026-H1AdvancedAnnual report
「・Operating profit: ¥6,016 million (up 14.2%) ・Ordinary profit: ¥6,253 million (up 12.1%) ・Interim net income attributable to owners of the parent: ¥4,326 million (up 13.2%)」
Operating profit for the interim period was ¥6,016 million, up 14.2% year on year, exceeding the profit plan along with ordinary profit and interim net income. - FY2025AdvancedAnnual report
「Operating margin 12.5% 11.7% 10.9% 11.2%」
The operating margin in the final year was 11.2%, improving from 10.9% in the previous fiscal year. It did not reach the revised medium-term management plan target of 11.7%. - FY2025-H1Higher first-half operating profit and lower gross marginAnnual report
「As a result, operating profit was ¥5,268 million, up 5.9%, ordinary profit was ¥5,579 million, up 8.0%, and interim net income attributable to owners of the parent was ¥3,822 million, up 7.7%.」
First-half operating profit increased 5.9% year on year. However, the gross margin declined 1.1 percentage points year on year due to changes in the product sales mix and other factors. - FY2024Full-year profit decline, but margin above planAnnual report
「As a result, operating profit was ¥10,435 million, down 8.4%, ordinary profit was ¥10,825 million, down 7.0%, and net income attributable to owners of the parent was ¥7,500 million, down 7.5%. Although profit declined from the previous fiscal year, this was because a temporary decline in the Medical segment following the easing of COVID-19-related conditions coincided with higher fixed costs following the opening of the Hanshin DC.」
Full-year profit declined due to higher fixed costs at the Hanshin DC and a decline in the Medical segment following the easing of COVID-19-related conditions. The operating margin was 10.9%, above the initial plan of 10.7% but down from 12.5% in the previous fiscal year. - FY2024-Q3Lower nine-month operating profit and marginAnnual report
「As a result, operating profit was ¥7,533 million, down 8.6%, ordinary profit was ¥7,871 million, down 6.5%, and net income attributable to owners of the parent was ¥5,422 million, down 7.0%. Although profit declined year on year, this was because a temporary decline in the Medical segment following the easing of COVID-19-related conditions coincided with higher fixed costs following the opening of the Hanshin DC.」
Operating profit for the nine months ended the third quarter declined 8.6% year on year, and the operating margin on revenue fell to approximately 11.0%. The company explained that the decline in the Medical segment following the easing of COVID-19-related conditions coincided with higher fixed costs at the Hanshin DC. - FY2024-Q2Lower profit year on year, but profit above planAnnual report
「As a result, operating profit was ¥4,974 million, down 6.7%, ordinary profit was ¥5,167 million, down 3.1%, and net income attributable to owners of the parent was ¥3,550 million, down 3.5%. Although profit declined year on year, this was due to fixed costs becoming a temporary burden in the first year following the opening of the Hanshin DC. Each profit figure was approximately 7% above the profit plan.」
Operating profit declined 6.7% year on year due to the fixed-cost burden in the first year following the opening of the Hanshin DC, but was approximately 7% above the profit plan. - FY2024-Q1Quarterly operating income declineAnnual report
「As a result, operating profit was ¥2,462 million, down 2.4%.」
Operating profit for the first quarter was ¥2,462 million, down 2.4% from the same quarter of the previous year. The operating margin on revenue of ¥21,735 million was approximately 11.3%, down from approximately 12.3% in the same period of the previous year. - FY2023AdvancedAnnual report
「As a result, the operating margin was 12.5%, the highest level since the company went public, and operating profit was ¥11,396 million, up 22.0%.」
The operating margin was 12.5%, marking the highest level since the company went public. Operating profit was ¥11,396 million, up 22.0% year on year. - FY2023-Q3AdvancedAnnual report
「As a result, operating profit was ¥8,239 million, up 31.9%, ordinary profit was ¥8,415 million, up 30.7%, and net income attributable to owners of the parent was ¥5,829 million, up 26.8%.」
Operating profit for the nine months ended the third quarter was ¥8,239 million, up 31.9% year on year. The operating margin on revenue of ¥65,919 million was approximately 12.5%, indicating progress in improving profitability. - FY2023-Q2AdvancedAnnual report
「As a result, operating profit was ¥5,329 million, up 37.2%, ordinary profit was ¥5,330 million, up 32.4%, and net income attributable to owners of the parent was ¥3,680 million, up 29.7%.」
Operating profit for the six months ended the second quarter increased 37.2% year on year, and the operating margin on revenue was approximately 12.5%. - FY2023-Q1AdvancedAnnual report
「In terms of profitability, the gross margin on revenue was 0.8 percentage points higher than in the same quarter of the previous year and recovered to pre-COVID-19 levels, partly because the inventory whose profitability had deteriorated in the previous fiscal year had run its course. In response to higher procurement costs, we have also implemented agile pricing in parallel, and the overall impact has remained limited.」
The gross margin increased 0.8 percentage points year on year as the impact of inventory write-downs ran its course and agile pricing was implemented. Operating profit was ¥2,523 million, up 10.1% year on year. - FY2022-Q3AdvancedAnnual report
「As a result, operating profit was ¥6,246 million, down 4.1%, and ordinary profit was ¥6,439 million, down 5.2%.」
Operating profit for the nine months ended the third quarter was ¥6,246 million, and the operating margin on revenue of ¥61,779 million was approximately 10.1%. The margin recovered to the 10% range from approximately 9.6% for the six months ended the second quarter, but remained below PROJECT ONE's 12.5% target for the final year. - FY2022-Q2Quarterly operating margin: 9.6%Annual report
「As a result, operating profit was ¥3,882 million, up 10.0%, ordinary profit was ¥4,027 million, up 8.4%, and net income attributable to owners of the parent was ¥2,836 million, up 11.0%.」
Operating profit for the six months ended the second quarter increased 10.0% year on year, while the operating margin on revenue of ¥40,462 million was approximately 9.6%, down from approximately 9.8% in the previous quarter and below the 12.5% target for the final year of PROJECT ONE. - FY2022-Q1AdvancedAnnual report
「As a result, operating income was ¥2,290 million, up 37.8% year on year; ordinary income was ¥2,353 million, up 33.3%; and net income attributable to owners of the parent was ¥1,625 million, up 32.9%.」
Operating profit for the first quarter was ¥2,290 million, up 37.8% year on year. The operating margin was approximately 11.4%, up from approximately 9.8% in the same quarter of the previous year, although below the 12.5% target for the final year of the new medium-term management plan. - FY2021AdvancedAnnual report
「Although our group is a wholesaler, we have maintained an operating margin of at least 10% and remained focused on profitability. We will continue to steadily pursue each initiative toward the 12.5% operating margin set out in the medium-term management plan.」
The operating margin was 12.1%, exceeding the first-year plan of 8.7%. The company stated that it will continue initiatives including e-commerce expansion, the use of AI and RPA, and logistics efficiency improvements toward the final-year target of 12.5%. - FY2021-Q3AdvancedAnnual report
「As a result, operating income was ¥6,513 million, up 12.4% year on year; ordinary income was ¥6,795 million, up 13.7%; and net income attributable to owners of the parent was ¥3,556 million, down 11.7%.」
Operating income for the cumulative third quarter increased 12.4% year on year. The operating margin was approximately 11.5%, below the new medium-term plan’s final-year target of 12.5%, although operating income increased. - FY2021-Q2Continued decline in operating income and failure to meet targetsAnnual report
「As a result, operating income was ¥3,528 million, down 8.0% year on year; ordinary income was ¥3,715 million, down 6.7%; and net income attributable to owners of the parent was ¥2,556 million, down 6.0%.」
Operating income for the cumulative second quarter declined 8.0% year on year. The operating margin was approximately 10.0% of revenue, below the previous medium-term plan’s 13.0% target and the new plan’s final-year target of 12.5%. - FY2021-Q1Quarterly operating margin below 10%Annual report
「Selling, general and administrative expenses increased by ¥475 million, or 15.0%, year on year to ¥3,647 million. ... As a result, operating income was ¥1,662 million, down 5.1% year on year.」
Operating income declined 5.1% year on year due to higher depreciation and rent associated with Smart DC operations, as well as increased freight and warehouse handling fees. The operating margin was approximately 9.8% of revenue, below the previous medium-term plan’s 13.0% target and the new plan’s policy of restoring it to at least 10% at an early stage. - FY2020SoftenedAnnual report
「Depreciation and rent associated with the capital investment described above will temporarily reduce profitability, but through the execution of various initiatives and revenue growth, we will restore the operating margin to at least 10% at an early stage and raise it to 12.5% in the final year.」
The previous medium-term plan’s final operating margin target of 13.0% was not achieved, with the actual result at 12.1%; the new medium-term plan sets a final-year target of 12.5%. - FY2020-Q3AdvancedAnnual report
「As a result, operating income was ¥5,794 million, up 7.7% year on year; ordinary income was ¥5,975 million, up 8.3%; and net income attributable to owners of the parent was ¥4,028 million, up 7.4%.」
Operating income for the cumulative third quarter was ¥5,794 million, up 7.7% year on year. The operating margin was approximately 11.7% against revenue of ¥49,416 million, updating the earnings results relevant to the 13.0% target. - FY2020-Q2AdvancedAnnual report
「As a result, operating income was ¥3,835 million, up 10.0% year on year; ordinary income was ¥3,981 million, up 12.1%; and net income attributable to owners of the parent was ¥2,719 million, up 13.1%.」
Operating income for the cumulative second quarter was ¥3,835 million, up 10.0% year on year. The operating margin was approximately 11.8% against revenue of ¥32,594 million, up from approximately 11.3% in the previous year but below the 13.0% target. - FY2020-Q1Quarterly operating income declineAnnual report
「As a result, operating income was ¥1,751 million, down 2.9% year on year; ordinary income was ¥1,830 million, down 0.9%; and net income attributable to owners of the parent was ¥1,249 million, up 0.1%.」
First-quarter operating income declined 2.9% year on year. The operating margin was approximately 11.2%, below the medium-term management plan target of 13.0%. - FY2019Explicit shortfall against targetsAnnual report
「Of the 3 targets for the consolidated fiscal year, revenue and ROE were achieved, while the operating margin target was not. The operating margin target for the final year of the medium-term plan is 13.0%, making it a challenging target amid continued increases in personnel and logistics costs.」
The actual operating margin was 11.3%, below the current-year plan of 11.8% and the final-year medium-term plan target of 13.0%. The company stated that it aims to reach its operating income target through further revenue growth, cost improvements and expense reductions. - FY2019-Q3AdvancedAnnual report
「As a result, operating income was ¥5,383 million, up 19.1% year on year; ordinary income was ¥5,515 million, up 17.8%; and net income attributable to owners of the parent was ¥3,750 million, up 18.8%.」
Operating income for the cumulative third quarter was ¥5,383 million, up 19.1% year on year. The operating margin was approximately 11.3% against revenue of ¥47,749 million, representing earnings results relevant to the 13.0% operating margin target. - FY2019-Q2AdvancedAnnual report
「As a result, operating income was ¥3,487 million, up 18.5% year on year; ordinary income was ¥3,549 million, up 16.4%; and net income attributable to owners of the parent was ¥2,403 million, up 17.4%.」
Operating income for the cumulative second quarter was ¥3,487 million, up 18.5% year on year. The operating margin was approximately 11.3% against revenue of ¥30,786 million, representing earnings results relevant to the 13.0% target for fiscal 2019. - FY2019-Q1AdvancedAnnual report
「As a result, operating income was ¥1,803 million, up 18.8% year on year; ordinary income was ¥1,847 million, up 17.6%; and net income attributable to owners of the parent was ¥1,247 million, up 16.8%.」
First-quarter operating income was ¥1,803 million, up 18.8% year on year. The results were relevant to the 13.0% operating margin target for fiscal 2019. - FY2018AdvancedAnnual report
「Revenue was ¥1,959 million, or 3.3%, above the medium-term management plan. Operating income was ¥296 million, or 4.7%, above the plan, supported by higher revenue and the ability to hold expenses such as logistics costs below assumptions. As a result, the operating margin increased 0.1 percentage point versus the plan.」
The operating margin for the year was 10.8%, compared with the planned 10.7%, providing actual results for the plan year toward the 13.0% target for fiscal 2019. - FY2018-Q3AdvancedAnnual report
「As a result, operating income was ¥4,520 million, up 13.7% year on year; ordinary income was ¥4,681 million, up 13.5%; and net income attributable to owners of the parent was ¥3,156 million, up 12.3%.」
Operating income for the cumulative third quarter increased 13.7% year on year. The operating margin was approximately 10.5% against revenue of ¥43,209 million, representing earnings results relevant to the 13.0% target for fiscal 2019. - FY2018-Q2AdvancedAnnual report
「As a result, operating income was ¥2,942 million, up 9.3% year on year; ordinary income was ¥3,048 million, up 9.4%; and net income attributable to owners of the parent was ¥2,047 million, up 7.9%.」
Operating income for the cumulative second quarter increased 9.3% year on year. The operating margin was approximately 10.5% against revenue of ¥27,910 million, and no change to the 13.0% operating margin target for fiscal 2019 was stated. - FY2018-Q1AdvancedAnnual report
「As a result, operating income was ¥1,518 million, up 8.3% year on year; ordinary income was ¥1,570 million, up 7.8%; and net income attributable to owners of the parent was ¥1,067 million, up 7.0%.」
Quarterly earnings improved, including an 8.3% year-on-year increase in operating income. No direct assessment of progress toward the 13.0% operating margin target was provided. - FY2017RaisedAnnual report
「We are pursuing 3 core growth strategies and aim to achieve consolidated revenue of ¥70,000 million, a consolidated operating margin of 13.0% and ROE of 11.0% in fiscal 2019, 3 years from now.」
The company explicitly set a target of achieving a 13.0% operating margin in fiscal 2019, moving beyond its previous goal of maintaining and improving an operating margin of at least 10%. The operating margin for the current consolidated fiscal year was 10.9%. - FY2017-Q3RestatedAnnual report
「As a result, operating income was ¥3,974 million, up 0.1% year on year, and ordinary income was ¥4,126 million, up 1.4%.」
Operating income was ¥3,974 million, up 0.1% year on year. Although the results relate to maintaining an operating margin of at least 10%, no new profitability target or clear improvement milestone was stated. - FY2017-Q2AdvancedAnnual report
「As a result, operating income was ¥2,691 million, up 4.5% year on year, and ordinary income was ¥2,787 million, up 5.3%.」
Operating income for the cumulative second quarter was ¥2,691 million, up 4.5% year on year. The operating margin was approximately 10.5% against revenue of ¥25,532 million, exceeding the previously indicated level of at least 10%. - FY2017-Q1AdvancedAnnual report
「As a result, operating income was ¥1,403 million, up 6.3% year on year; ordinary income was ¥1,457 million, up 6.6%; and net income attributable to owners of the parent was ¥997 million, up 10.6%.」
Operating income increased 6.3% year on year. Although the target of maintaining an operating margin of at least 10% was not reiterated, the quarter’s earnings results showed measurable progress. - FY2016First statedAnnual report
「Although operating as a wholesaler, our group has maintained an operating margin of at least 10%, and will continue to pursue further improvements in profitability.」
Building on its track record of maintaining an operating margin of at least 10% as a wholesaler, the company identified further improvements through original products, optimization of sourcing regions, IT investment, higher operating productivity and greater logistics efficiency.