Expanding profit figures through revenue growth
First written in FY2016-Q3. 21 of 38 entries say "Advanced", first in FY2016. Latest entry: 2026-08-12.
- FY2026-H1AdvancedAnnual report
「Operating profit increased 53.8% to ¥1,132 million, ordinary profit increased 56.9% to ¥1,089 million, and interim net income attributable to owners of the parent increased 40.9% to ¥647 million, with substantial profit growth at every level.」
For the interim period, revenue increased 6.8% and gross profit increased 20.2%, while operating profit, ordinary profit and interim net income attributable to owners of the parent also increased. Profit growth driven by revenue growth continues. - FY2025AdvancedAnnual report
「As a result of continuing measures centered on the product strategy promoted in recent years, profit margins improved substantially and record-high profit was renewed for the first time in 14 years. This enabled the company to achieve 5 consecutive fiscal years of revenue and profit growth on an operating profit basis.」
As a result of continuing the product strategy, operating profit increased 45.5% and the operating profit margin improved from 4.8% to 6.6%, achieving record-high profit for the first time in 14 years and 5 consecutive fiscal years of revenue and operating profit growth. - FY2025-H1AdvancedAnnual report
「Revenue for the current interim consolidated fiscal period increased 1.1% to ¥10,737 million, while gross profit increased 17.4% to ¥3,271 million. … Operating profit increased 13.7% to ¥736 million, and ordinary profit increased 9.6% to ¥694 million.」
Revenue, gross profit, operating profit and ordinary profit exceeded the same period of the previous fiscal year, indicating concrete progress in revenue growth and profit expansion. Interim net income attributable to owners of the parent, however, declined 10.5% due to the absence of the gain on the sale of investments in an affiliated company recorded in the previous fiscal year. - FY2024AdvancedAnnual report
「Revenue increased 2.3% from the previous fiscal year to ¥20,920 million, reaching a record high. … Operating profit increased 16.2% to ¥1,010 million, … and the operating profit margin was 4.8%, compared with 4.3% in the previous fiscal year.」
Revenue reached a record high, operating profit increased 16.2%, and the operating profit margin improved from 4.3% to 4.8%. Concrete progress was made in emphasizing profit margins and achieving continued operating profit growth. - FY2024-Q2AdvancedAnnual report
「Revenue for the first six months of the current consolidated fiscal year increased 5.9% to ¥10,617 million due to the series of measures described above and inbound demand. … Operating profit increased 12.8% to ¥647 million.」
Revenue increased due to the series of measures and inbound demand, while operating profit also increased 12.8% year on year. Concrete progress was made in expanding profits through revenue growth. - FY2024-Q1AdvancedAnnual report
「Revenue for the first three months of the current consolidated fiscal year increased 7.9% to ¥5,292 million due to the series of measures described above and inbound demand. Gross profit increased 7.8% to ¥1,426 million. … Operating profit increased 37.8% to ¥333 million.」
Revenue increased due to the series of measures and inbound demand, while operating profit also increased 37.8% year on year. Concrete progress was made in expanding profits through revenue growth. - FY2023AdvancedAnnual report
「Operating profit was ¥869 million, up 36.9% from the previous fiscal year, and the operating profit margin was 4.3%, compared with 3.7% in the previous fiscal year.」
In FY2023, operating profit increased 36.9% and the operating profit margin improved from 3.7% to 4.3%, indicating concrete progress in continued operating profit growth and improved profit margins. - FY2023-Q3AdvancedAnnual report
「Revenue for the first nine months of the current consolidated fiscal year increased 18.9% to ¥14,894 million, … and operating profit increased 10.3% to ¥802 million. Ordinary profit increased 19.2% to ¥877 million.」
Revenue, operating profit and ordinary profit exceeded the same period of the previous fiscal year, indicating progress in expanding profits through revenue growth. Quarterly net income attributable to owners of the parent, however, declined 2.6%. Measures including selection and concentration, switching to proprietary products and reducing fixed costs also continued. - FY2023-Q2Ordinary profit and net income decline despite revenue and operating profit growthAnnual report
「Revenue for the first six months of the current consolidated fiscal year increased 24.1% to ¥10,028 million as opportunities for the young women who are the main users of the company's products normalized and company-wide efforts to strengthen sales to strategically selected key outlets continued to bear fruit. Gross profit increased 9.6% to ¥2,680 million. Although selling, general and administrative expenses increased 10.1% to ¥2,106 million as promotional and logistics expenses rose with the substantial increase in revenue, operating profit increased 8.0% to ¥574 million as higher revenue offset the factors driving costs higher. Ordinary profit declined 8.8% to ¥483 million due in part to the recognition in non-operating expenses of valuation losses associated with the mark-to-market valuation of foreign exchange derivative transactions. Quarterly net income attributable to owners of the parent was ¥313 million, down 2.7%.」
Revenue and operating profit increased, while ordinary profit and quarterly net income attributable to owners of the parent declined due to valuation losses on foreign exchange derivative transactions and other factors. - FY2023-Q1AdvancedAnnual report
「Revenue for the first three months of the current consolidated fiscal year increased 26.4% to ¥4,907 million as opportunities for the young women who are the main users of the company's products normalized and company-wide efforts to strengthen sales to strategically selected key outlets continued to bear fruit. Gross profit increased 9.9% to ¥1,323 million. However, the gross profit margin declined 4.0 percentage points to 27.0%, mainly because sales of OEM products increased substantially and because the weaker yen raised the cost of sales. Although selling, general and administrative expenses increased 11.2% to ¥1,082 million as promotional and logistics expenses rose with the substantial expansion in distribution activity, operating profit increased 4.6% to ¥242 million. Ordinary profit declined 65.4% to ¥85 million due in part to the recognition in non-operating expenses of valuation losses associated with the mark-to-market valuation of foreign exchange derivative transactions. Quarterly net income attributable to owners of the parent was ¥46 million, down 70.0%.」
Against a backdrop of strengthened sales efforts targeting key outlets, revenue increased 26.4% and operating profit increased 4.6%, indicating progress in expanding profits through revenue growth. However, the gross profit margin declined due to the product mix and the weaker yen, while ordinary profit and net income declined due to valuation losses on foreign exchange derivative transactions. - FY2022AdvancedAnnual report
「Revenue increased by ¥3,155 million from the previous consolidated fiscal year to ¥17,280 million, up 22.3% year on year. … Operating profit was ¥635 million, up 78.8% from the previous fiscal year, and ordinary profit was ¥616 million, up 59.0%.」
Revenue increased 22.3% and operating profit increased 78.8%, indicating concrete progress in expanding profits through revenue growth. The operating profit margin also improved from 2.5% to 3.7%. - FY2022-Q3AdvancedAnnual report
「Revenue for the first nine months of the current consolidated fiscal year increased substantially by 20.8% to ¥12,526 million. This reflected increased opportunities for the young women who are the main users of the company's products to go out as restrictions on activities were eased, the normalization of business activity at retail customers and theme parks, and the success of strengthened sales efforts targeting key customers, which had been pursued strategically since the previous fiscal year. Revenue from proprietary products increased 22.2% to ¥9,707 million, and their share of revenue rose 0.9 percentage points to 77.5%, from 76.6% in the same period of the previous fiscal year. Gross profit increased 18.9% to ¥3,698 million, but the gross profit margin declined 0.5 percentage points to 29.5% as the proportion of OEM products increased. These products carry no return risk but have lower gross profit margins. Selling, general and administrative expenses increased 8.7% to ¥2,970 million, as promotional and logistics expenses rose with strong sales, despite controls on personnel expenses, including through a reduction in headcount. Operating profit increased 92.9% to ¥728 million, ordinary profit increased 82.9% to ¥736 million, and quarterly net income attributable to owners of the parent was ¥563 million, up 127.6%.」
Against a backdrop of eased activity restrictions, normalized operations at sales outlets and strengthened sales efforts targeting key customers, revenue and all profit measures substantially exceeded the same period of the previous fiscal year. Concrete progress was made in expanding profits through revenue growth, while the gross profit margin declined as the proportion of OEM products increased. - FY2022-Q2AdvancedAnnual report
「Revenue for the first six months of the current consolidated fiscal year increased 13.9% to ¥8,084 million as consumption recovered following the lifting of the state of emergency. Gross profit increased 15.1% to ¥2,444 million. The gross profit margin improved by 0.3 percentage points year on year to 30.2%, mainly due to improved product appeal and stricter profitability management. Selling, general and administrative expenses increased 5.3% to ¥1,913 million as variable costs such as promotional and logistics expenses increased with the partial recovery of distribution activity. Operating profit increased 73.3% to ¥531 million.」
In addition to higher revenue, the gross profit margin improved to 30.2% and operating profit increased 73.3% year on year. Concrete progress was made in expanding profits through improved product appeal, profitability management and cost management. - FY2022-Q1AdvancedAnnual report
「Revenue for the first three months of the current consolidated fiscal year increased 4.8% to ¥3,882 million as consumption partially recovered following the lifting of the state of emergency. Gross profit increased 7.4% to ¥1,204 million. The gross profit margin improved by 0.7 percentage points year on year to 31.0%, mainly due to improved product appeal and stricter profitability management. Selling, general and administrative expenses increased 1.8% to ¥973 million as promotional and logistics costs increased with the partial recovery of distribution activity. Operating profit increased 39.6% to ¥231 million. Ordinary profit increased 44.1% to ¥247 million, and quarterly net income attributable to owners of the parent was ¥153 million, up 66.5%.」
Revenue, the gross profit margin, operating profit, ordinary profit and quarterly net income attributable to owners of the parent all exceeded the same period of the previous fiscal year. Concrete progress was made in expanding profits and improving profit margins through improved product appeal and profitability management. - FY2021AdvancedAnnual report
「Revenue for the current consolidated fiscal year was ¥14,215 million, up 2.0% from the previous fiscal year. This included a contribution from the revenue of Beauty Door Co., Ltd., which became a wholly owned subsidiary through an acquisition of shares at the beginning of the fiscal year, despite the continued review of profitability by product and customer and sluggish consumption due to the spread of COVID-19. Net gross profit increased 4.8% to ¥4,188 million, and the net gross profit margin improved to 29.5%, due to production cost reductions, revised transaction terms and the incorporation of Beauty Door Co., Ltd.'s profits. Selling, general and administrative expenses were broadly controlled and declined 1.4% to ¥3,833 million. As a result, operating profit increased 219.2% to ¥355 million, ordinary profit increased 161.2% to ¥388 million, and net income attributable to owners of the parent increased 241.0% to ¥208 million.」
As revenue increased 2.0%, operating profit increased 219.2% due to production cost reductions, revised transaction terms and cost controls. The operating profit margin also improved from 0.8% to 2.5%, indicating concrete progress toward emphasizing profit margins and achieving continued operating profit growth. - FY2021-Q3AdvancedAnnual report
「Revenue for the first nine months of the current consolidated fiscal year was ¥10,435 million, down 4.0% from the same period of the previous fiscal year. This reflected the continued review of profitability by product and customer, as well as the difficult conditions caused by the impact of COVID-19 described above, including fewer opportunities for the young women who are the main users of the company's products to go out as working from home became widespread, requests for retail customers and theme parks to close, and shortened operating hours. … Operating profit increased 61.9% to ¥377 million, ordinary profit increased 52.7% to ¥402 million, and quarterly net income attributable to owners of the parent was ¥247 million, up 61.4%.」
Revenue declined 4.0% year on year, while operating profit, ordinary profit and quarterly net income attributable to owners of the parent increased 61.9%, 52.7% and 61.4%, respectively. Progress in expanding profits despite declining revenue advanced further through the review of profitability and cost controls. - FY2021-Q2AdvancedAnnual report
「Revenue for the first six months of the current consolidated fiscal year continued to decline, falling 5.9% year on year to ¥7,144 million, as the company continued to review profitability by product and customer and the COVID-19 pandemic continued. However, the rate of decline in revenue for the second quarter alone was limited to 1.1% year on year, suggesting that the decline had bottomed out. Operating profit increased 72.2% to ¥307 million, ordinary profit increased 73.1% to ¥321 million, and quarterly net income attributable to owners of the parent was ¥200 million, up 96.4%.」
Although cumulative revenue continued to decline, the quarterly rate of decline narrowed to 1.1%, and operating profit, ordinary profit and quarterly net income attributable to owners of the parent all increased substantially. Concrete progress was made in expanding profits through the review of profitability and cost controls. - FY2021-Q1AdvancedAnnual report
「Revenue for the first three months of the current consolidated fiscal year continued to decline, falling 10.0% year on year to ¥3,711 million, as consumption remained sluggish due to the spread of COVID-19 in addition to the previous fiscal year's review of profitability by product and customer. … Selling, general and administrative expenses declined 10.2% to ¥973 million as a result of broad-based cuts, centered on advertising and promotional expenses, in response to difficult macroeconomic conditions. Operating profit increased 8.9% to ¥166 million.」
Although revenue continued to decline, operating profit increased 8.9% year on year due to the review of profitability and control of selling, general and administrative expenses. The operating profit margin also improved from approximately 3.7% to approximately 4.5%, indicating concrete progress toward the objective of emphasizing profit margins. - FY2020Sharp revenue decline and lower operating profit marginAnnual report
「Revenue for the current consolidated fiscal year fell sharply to ¥13,940 million, down 17.0% from the previous fiscal year, as the company continued to review profitability by product and customer and consumption remained sluggish due to the spread of COVID-19. … As a result, operating profit was ¥111 million, down 57.6% from the previous fiscal year. … The operating profit margin was 0.8%, compared with 1.6% in the previous fiscal year.」
Revenue declined 17.0%, operating profit declined 57.6%, and the operating profit margin fell from 1.6% to 0.8%. Full-year results deteriorated relative to the objectives of emphasizing profit margins and achieving continued operating profit growth. - FY2020-Q3Slight operating profit decline and ordinary profit and net income growth despite a sharp revenue declineAnnual report
「Revenue for the first nine months of the current consolidated fiscal year fell sharply to ¥10,870 million, down 14.2% year on year, as the company continued to review profitability by product and customer and consumption remained sluggish due to the spread of COVID-19. Although the net gross profit margin improved by 0.4 percentage points to 29.6% through production cost reductions and revised transaction terms, net gross profit declined 13.2% to ¥3,213 million. Selling, general and administrative expenses were broadly controlled and declined 14.0% to ¥2,980 million. As a result, operating profit was ¥233 million, down 1.3%; ordinary profit was ¥264 million, up 1.0%; and quarterly net income attributable to owners of the parent was ¥153 million, up 8.1%.」
Revenue declined 14.2% year on year and operating profit declined 1.3%, while ordinary profit increased 1.0% and quarterly net income attributable to owners of the parent increased 8.1%. Unlike profit growth driven by revenue growth, operating profit was largely maintained despite lower revenue, while profit measures including non-operating income and expenses increased. - FY2020-Q2Decline in Sales and EarningsAnnual report
「Revenue for the first six months of the current consolidated fiscal year fell sharply to ¥7,594 million, down 13.4% year on year, as the company continued to review profitability by product and customer and consumption stagnated due to the spread of COVID-19. … As a result, operating profit was ¥178 million, down 5.1% year on year.」
The company continued to review profitability, while consumption also stagnated due to COVID-19, resulting in declines in both revenue and operating profit year on year. - FY2020-Q1AdvancedAnnual report
「Revenue for the first three months of the current consolidated fiscal year fell sharply to ¥4,123 million, down 12.9% from the same period of the previous fiscal year, following a review of profitability by product and customer. However, as a result of efforts to reduce production costs and review transaction terms, net gross profit declined 9.7% to ¥1,235 million, while the net gross profit margin improved from 28.9% to 30.0%. Selling, general and administrative expenses declined 14.8% to ¥1,083 million as a result of broad-based cost controls, and operating profit increased 57.0% to ¥152 million. With foreign exchange gains also recognized, ordinary profit increased 50.8% to ¥167 million, and quarterly net income attributable to owners of the parent increased 66.5% to ¥98 million.」
Revenue declined 12.9% year on year, while the net gross profit margin improved from 28.9% to 30.0% and operating profit increased 57.0%. Concrete progress was made in improving profit and profit margins despite declining revenue through a review of profitability, production cost reductions, revised transaction terms and control of selling, general and administrative expenses. - FY2019AdvancedAnnual report
「Selling, general and administrative expenses were ¥4,554 million, down 6.4% from the previous fiscal year. Although advertising expenses increased, selling, general and administrative expenses declined by ¥309 million from the previous consolidated fiscal year due to lower personnel expenses and efforts to control other expenses. As a result, operating profit increased 16.0% to ¥263 million, marking the first profit increase in 3 fiscal years.」
Revenue declined 5.1%, while operating profit increased 16.0% due to restraint in personnel and other expenses, resulting in the first profit increase in 3 fiscal years. The operating profit margin also improved from 1.3% to 1.6%, indicating concrete progress toward the objective of continued operating profit growth and improved profit margins. - FY2019-Q3Revenue, operating profit, ordinary profit and net income declineAnnual report
「Revenue for the first nine months of the current consolidated fiscal year was ¥12,666 million, down 6.4% from the same period of the previous fiscal year. Although sales to 100-yen shops and variety stores remained strong, this reflected the impact of a review of sales channels centered on the contact lens business. In terms of costs, the company continued to review its procurement structure and strengthen inventory management. However, the proportion of products with relatively low gross profit margins increased as OEM products for 100-yen shops grew, resulting in a decline in the overall gross profit margin. Net gross profit therefore fell 7.1% to ¥3,700 million. Selling, general and administrative expenses declined 5.9% to ¥3,464 million, as advertising, research and development, and logistics costs increased, but personnel and other expenses were restrained and amortization of goodwill was completed. As a result, operating profit was ¥236 million, down 21.9% year on year. Non-operating income and expenses benefited from increases in interest and dividend income, foreign exchange gains, and lower interest payments. Ordinary profit was ¥261 million, down 13.2%. Although a gain on the sale of investment securities was recognized, quarterly net income attributable to owners of the parent was ¥142 million, down 15.3%.」
Revenue, operating profit, ordinary profit and quarterly net income attributable to owners of the parent all declined year on year, marking a shift from divergence among revenue and profit measures to an overall decline in profit measures. - FY2019-Q2Ordinary profit and net income growth despite declines in revenue and operating profitAnnual report
「Revenue for the first six months of the current consolidated fiscal year was ¥8,773 million, down 1.6% from the same period of the previous fiscal year. Although sales to 100-yen shops and variety stores remained strong, sales to discount stores and online retailers declined. … Operating profit was ¥188 million, down 1.5% year on year. … Ordinary profit was ¥210 million, up 4.4% year on year. Net income attributable to owners of the parent was … ¥120 million, up 5.5% year on year.」
Revenue and operating profit declined year on year, while ordinary profit and quarterly net income attributable to owners of the parent increased. The divergence among profit measures, rather than profit growth driven by revenue growth, continues. - FY2019-Q1Operating profit, ordinary profit and net income decline despite revenue growthAnnual report
「Revenue for the first three months of the current consolidated fiscal year was ¥4,735 million, up 1.8% from the same period of the previous fiscal year, due in part to strong sales to 100-yen shops and variety stores. Although the company continued to review its procurement structure and strengthen inventory management, the gross profit margin declined because the growth rate of OEM products, including those for 100-yen shops, was high. As a result, net gross profit increased only 0.9% year on year to ¥1,368 million. Selling, general and administrative expenses increased due to higher advertising, research and development, and logistics costs, resulting in operating profit of ¥97 million, down 14.6% year on year.」
Revenue increased 1.8% year on year, while operating profit declined 14.6%, ordinary profit declined 4.6%, and net income attributable to owners of the parent declined 5.8%. Results continue to differ from profit growth driven by revenue growth. - FY2018Operating profit margin and profit decline despite revenue growthAnnual report
「Operating profit was ¥226 million, down 33.4% from the previous fiscal year. As foreign exchange gains declined in non-operating income and expenses, ordinary profit was ¥225 million, down 46.2%. Net income attributable to owners of the parent was ¥96 million, down 50.0%.」
Revenue increased 3.6%, while operating profit declined 33.4% and the operating profit margin fell from 2.0% in the previous year to 1.3%. - FY2018-Q3Lower operating income despite higher salesAnnual report
「As a result, revenue for the first nine months of the current consolidated fiscal year was ¥13,539 million, up 5.1% from the same period of the previous fiscal year. … As a result, operating profit was ¥302 million, down 24.3% year on year.」
Revenue increased 5.1% year on year, while operating profit declined 24.3%, with results continuing to differ from profit growth driven by revenue growth. - FY2018-Q2Lower operating income despite higher salesAnnual report
「As a result, revenue for the first six months of the current consolidated fiscal year was ¥8,916 million, up 5.7% from the same period of the previous fiscal year. This was due to strong sales to core formats such as drugstores, discount stores and 100-yen shops, as well as strong sales to amusement-related customers, including theme parks, and to online retailers. In terms of costs, the gross profit margin declined because the growth of products with low gross profit margins among the company's proprietary products was high, in addition to intensifying competition, efforts to improve product quality and higher costs due to rising manufacturing costs. Selling, general and administrative expenses also increased as promotional expenses rose with the increase in production items and personnel expenses rose with the increase in headcount. As a result, operating profit was ¥190 million, down 32.8% year on year.」
Revenue increased 5.7% year on year, while operating profit declined 32.8% due to the lower gross profit margin and higher selling, general and administrative expenses. As of the current quarter, results show a reversal of the trend of translating revenue growth into profit growth. - FY2017ReframedAnnual report
「Our Group places emphasis on profit margins in order to achieve sustained growth in corporate value. It regards continued growth in operating profit as its most important management objective and improvement in the operating profit margin as a key management indicator.」
The objective was made more specific and reorganized, shifting from the previous focus on "expanding profit through revenue growth" to continued operating profit growth and improvement in the operating profit margin. In FY2017, both revenue and operating profit declined, and no results demonstrating achievement of the objective were reported. - FY2017-Q3RestatedAnnual report
「Revenue was ¥12,887 million, down 3.2% from the same period of the previous fiscal year, due to a review of the products purchased and handled through the previous fiscal year, as well as the reaction to the introduction of large products in the same period of the previous fiscal year. By contrast, as a result of reviewing the procurement structure and tightening inventory management, the net gross profit margin improved by 1.1 percentage points. In addition, efforts to operate selling, general and administrative expenses efficiently resulted in operating profit of ¥400 million, up 3.4% year on year.」
Revenue declined 3.2% year on year, while operating profit increased 3.4%. Rather than the combination of revenue growth and profit growth, profit growth despite declining revenue continues. - FY2017-Q2RestatedAnnual report
「Revenue was ¥8,439 million, down 5.2% from the same period of the previous fiscal year, due to a review of the products purchased and handled through the previous fiscal year, as well as the reaction to the introduction of large products in the same period of the previous fiscal year. By contrast, as a result of reviewing the procurement structure and tightening inventory management, the net gross profit margin improved by 2.4 percentage points. In addition, efforts to operate selling, general and administrative expenses efficiently resulted in operating profit of ¥284 million, up 50.0% year on year.」
Revenue declined 5.2% year on year, while operating profit increased 50.0% due to an improved gross profit margin and more efficient management of selling, general and administrative expenses. Profit growth despite declining revenue continues. - FY2017-Q1Profit growth despite declining revenueAnnual report
「As a result, revenue for the first three months of the current consolidated fiscal year was ¥4,446 million, down 6.9% from the same period of the previous fiscal year. This was due to a review of the products purchased and handled through the previous fiscal year, as well as the reaction to the introduction of large products in the same period of the previous fiscal year. In terms of costs, the gross profit margin improved as a result of reviewing the procurement structure and tightening inventory management, among other measures. In addition, selling, general and administrative expenses were below budget, and operating profit increased 70.8% to ¥246 million. In non-operating income and expenses, the recognition of foreign exchange gains resulted in ordinary profit of ¥304 million, up 90.3% year on year.」
Quarterly revenue declined year on year, while operating profit and ordinary profit increased due to the review of the procurement structure, tighter inventory management, and underspending on selling, general and administrative expenses. The relationship between revenue growth and profit growth has changed. - FY2016AdvancedAnnual report
「As a result, revenue for the current consolidated fiscal year was ¥17,771 million, up 9.4% year on year. Although the gross profit margin declined from the previous fiscal year, operating profit increased substantially to ¥464 million, up 80.9%, as a result of controlling selling, general and administrative expenses. However, due to deterioration in non-operating income and expenses, including the recognition of foreign exchange losses, ordinary profit was ¥326 million, down 17.0%.」
Revenue and operating profit increased, indicating progress in expanding profits. Ordinary profit, however, declined due to foreign exchange losses and other factors, with different profit measures moving in different directions. - FY2016-Q3First statedAnnual report
「The current consolidated fiscal year is the fifth year of the second step in the growth stage, "expanding profit through revenue growth," under the slogans "new businesses, new sales channels, new procurement bases, and new products."」
As a target for the second step of the growth stage, the company has stated its policy of translating revenue growth into higher profits.