Rising Labor Costs Due to Labor Shortages
First written in FY2018-Q1. 6 of 14 entries say "Worsened", first in FY2019. Latest entry: 2026-06-11.
Top Culture moved to the "Worse" side of this theme in 2024, 4 years 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".
- FY2025MitigatedAnnual report
「Salaries and allowances: ¥1,799.519 million (¥1,877.789 million in the previous consolidated fiscal year)」
Salaries and allowances decreased from ¥1,877.789 million in the previous year to ¥1,799.519 million, indicating that the impact of rising labor costs described through the previous year has eased in the actual expense results. - FY2025-H1WorsenedAnnual report
「However, due to higher labor costs and increased costs associated with store closures and renovations, the company recorded an operating loss of ¥111 million (operating loss of ¥162 million in the previous interim consolidated accounting period).」
Higher labor costs are explicitly identified, together with store closure and renovation costs, as a factor behind the operating loss, indicating that the impact of rising labor costs continues. - FY2024WorsenedAnnual report
「The main selling, general and administrative expense items and amounts were salaries and allowances of ¥1,877.789 million (¥1,694.060 million in the previous consolidated fiscal year).」
The rise in labor costs is reflected in the expense results, with salaries and allowances increasing from the previous year. - FY2024-Q2WorsenedAnnual report
「However, due to higher labor costs, increased costs associated with store closures and upfront costs associated with store openings, the company recorded an operating loss of ¥162 million (operating loss of ¥166 million in the same quarter of the previous year).」
Higher labor costs continue to be explicitly identified, together with store closure costs and upfront store-opening costs, as a factor behind the operating loss. - FY2024-Q1WorsenedAnnual report
「However, due to the decline in revenue and higher labor costs, the company recorded an operating loss of ¥31 million (operating profit of ¥39 million in the same period of the previous year), an ordinary loss of ¥48 million (ordinary profit of ¥21 million), and a quarterly net loss attributable to owners of the parent of ¥56 million (quarterly net income attributable to owners of the parent of ¥11 million).」
Higher labor costs are explicitly identified, together with the decline in revenue, as a factor behind the operating loss and other losses, indicating that the previously identified cost-increase risk has been reflected in earnings. - FY2023-Q3RestatedAnnual report
「In addition, higher labor costs resulting from wage increases caused by labor shortages have added to the burden, and the operating environment remains challenging for retailers operating stores.」
Wage increases due to labor shortages continue to be cited as a factor increasing store operating costs. - FY2023-Q2Re-emergence of wage increases due to labor shortagesAnnual report
「In addition, higher labor costs resulting from wage increases caused by labor shortages have added to the burden, and the operating environment remains challenging for retailers operating stores.」
Wage increases due to labor shortages, which had not been directly mentioned in the previous fiscal year, are again explicitly identified as a factor increasing store operating costs. - FY2020DroppedAnnual report
「Regarding the operating environment of our group, Tsutaya Bookstore Higashimatsuyama, operated by the company, suffered extensive damage from Typhoon No. 19, which struck in October 2019, and remained closed.」
The risks of labor shortages and rising labor costs described previously are not directly mentioned in the operating environment and risk disclosures for the current fiscal year. - FY2020-Q1RestatedAnnual report
「The business environment surrounding the group also remains challenging due to the impact of consumption tax increases on consumer sentiment, unfavorable weather and repeated natural disasters, intensifying sales competition across industry boundaries, and soaring labor and logistics costs.」
The rise in labor costs continues to be cited, alongside the consumption tax increase, intensifying competition and higher logistics costs, as a factor contributing to the challenging environment in the retail industry. - FY2019WorsenedAnnual report
「In the retail industry, the e-commerce market continues to expand and store-opening and sales competition across retail-format boundaries is intensifying, while passing on higher labor and logistics costs through price increases is weighing on consumer sentiment, and the challenging operating environment continues.」
The disclosure states that, in addition to continued increases in labor costs, passing on higher logistics costs through prices is a factor weighing on consumer sentiment. - FY2019-Q3RestatedAnnual report
「In addition to rising labor and logistics costs, aggressive store openings and sales competition across retail-format boundaries have emerged to address increasingly diverse consumer lifestyles, making the operating environment in the retail industry increasingly challenging.」
The rise in labor costs continues to be cited as a factor contributing to the challenging operating environment in the retail industry. - FY2018-Q1First statedAnnual report
「In addition, due in part to rising labor costs caused by labor shortages, the operating environment remained challenging.」
Labor shortages and the resulting rise in labor costs are identified for the first time as factors contributing to the challenging operating environment in the retail industry.