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Fuji Seal International (7864) · InitiativeAdvanced

ASEAN Sales Expansion and Upfront Investment

First written in FY2017-Q1. 13 of 32 entries say "Worsened", first in FY2018-Q1. Latest entry: 2026-08-06.

32entries
11years
1from disclosures
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How it moved
ProgressHeldSoftenedWorseWorsenedFY2018-Q1 – FY2019-Q2MitigatedFY2019-Q3 – FY2021-Q3WorsenedFY2022-Q1 – FY2023MitigatedFY2024-Q1 – FY2025-H12016: 220162017: 420172018: 420182019: 420192020: 320202021: 320212022: 320222023: 420232024: 220242025: 120252026: 22026
Same theme, other companies
Profit Pressure from Growth Investment and RecoveryA theme 22 companies write about · 19 as a headwind · 3 as a tailwind

Fuji Seal International moved to the "Worse" side of this theme in 2017, 7 years before the typical company in this theme (2024).

The whole theme swung hardest in 2017: 2 of 10 companies on the "Worse" side.

3 other companies' latest entry also says "Advanced".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Showing 14 of the 22 companies compared. The sentences above are computed from all 22.
Full recordFilings, disclosures and news, newest first
  1. 2026-08-06AdvancedEarnings

    「Revenue in ASEAN was ¥6.119 billion, up 32.8% year on year and 29.0% on a local-currency basis, while operating profit was ¥602 million, up 84.7% year on year and 79.5% on a local-currency basis.」

    Revenue and operating profit in ASEAN both exceeded the previous year’s levels, with sales expansion and profit improvement progressing in the first quarter.
  2. FY2026AdvancedAnnual report

    「As a result, total ASEAN revenue was ¥19.424 billion, down 0.6% year on year but up 0.8% on a local-currency basis, while operating profit was ¥1.722 billion, up 83.7% year on year, or 86.2% on a local-currency basis.」

    ASEAN revenue declined 0.6% year on year, while operating profit increased 83.7%, resulting in a substantial increase in profit despite lower revenue.
  3. FY2026-H1ASEAN: lower revenue, higher profitAnnual report

    「As a result, total ASEAN revenue was ¥9.321 billion, down 6.9% year on year, or 4.4% on a local-currency basis, while operating profit was ¥753 million, up 90.6% year on year, or 95.7% on a local-currency basis.」

    In contrast to the previous trend of expanding ASEAN sales, revenue declined 6.9% year on year during the interim consolidated accounting period, while operating profit increased 90.6%.
  4. FY2025-H1AdvancedAnnual report

    「As a result, total ASEAN revenue was ¥10.009 billion, up 14.0% year on year, or 1.0% on a local-currency basis, while operating profit was ¥395 million, up 141.9% year on year, or 114.4% on a local-currency basis.」

    ASEAN revenue increased 14.0% year on year and operating profit increased 141.9%, reflecting progress in sales expansion and earnings improvement.
  5. FY2024AdvancedAnnual report

    「As a result, total ASEAN revenue was ¥18.089 billion, up 3.6% year on year but down 3.1% on a local-currency basis, while operating profit was ¥482 million, up 408.4% year on year, or 375.7% on a local-currency basis.」

    ASEAN revenue increased for the full fiscal year, and operating profit improved significantly, rising 408.4% year on year.
  6. FY2024-Q2MitigatedAnnual report

    「As a result, total ASEAN revenue was ¥8.777 billion, up 5.5% year on year but down 3.7% on a local-currency basis, while operating profit was ¥163 million, compared with an operating loss of ¥137 million in the same period of the previous year.」

    ASEAN revenue increased on a yen basis, and the segment moved from an operating loss of ¥137 million to operating profit of ¥163 million. Performance improved from the previous situation of continuing deterioration in earnings.
  7. FY2024-Q1MitigatedAnnual report

    「As a result, total ASEAN revenue was ¥4.352 billion, up 3.2% year on year but down 9.4% on a local-currency basis, while operating profit was ¥82 million, compared with an operating loss of ¥173 million in the same period of the previous year.」

    ASEAN revenue declined on a local-currency basis, while the segment moved from an operating loss of ¥173 million to operating profit of ¥82 million, improving earnings.
  8. FY2023WorsenedAnnual report

    「As a result, total ASEAN revenue was ¥17.460 billion, up 7.5% year on year but down 10.2% on a local-currency basis, while operating profit was ¥94 million, down 72.2% year on year, or 76.8% on a local-currency basis.」

    ASEAN revenue increased on a yen basis but declined on a local-currency basis, while operating profit also fell sharply, down 72.2% year on year.
  9. FY2023-Q3WorsenedAnnual report

    「As a result, total ASEAN revenue was ¥12.830 billion, up 7.2% year on year but down 9.2% on a local-currency basis, while operating loss was ¥57 million, compared with operating profit of ¥218 million in the same period of the previous year.」

    ASEAN revenue increased on a yen basis but declined on a local-currency basis, and the segment moved from operating profit to operating loss.
  10. FY2023-Q2WorsenedAnnual report

    「As a result, total ASEAN revenue was ¥8.317 billion, up 2.6% year on year but down 10.2% on a local-currency basis, while operating loss was ¥137 million, compared with operating profit of ¥291 million in the same period of the previous year.」

    ASEAN revenue increased on a yen basis but declined on a local-currency basis, and the segment moved from operating profit to an operating loss of ¥137 million.
  11. FY2023-Q1WorsenedAnnual report

    「As a result, total ASEAN revenue was ¥4.218 billion, up 5.4% year on year but down 3.9% on a local-currency basis, while operating loss was ¥173 million, compared with operating profit of ¥147 million in the same period of the previous year.」

    ASEAN revenue increased on a yen basis but declined on a local-currency basis, and the segment moved from operating profit to an operating loss of ¥173 million.
  12. FY2022-Q3WorsenedAnnual report

    「As a result, total ASEAN revenue was ¥11.964 billion, down 1.5% year on year, or 2.4% on a local-currency basis, while operating profit was ¥218 million, down 68.0% year on year, or 68.3% on a local-currency basis.」

    ASEAN revenue declined 1.5% year on year, and operating profit also declined 68.0%, with deterioration in earnings becoming more pronounced.
  13. FY2022-Q2WorsenedAnnual report

    「As a result, total ASEAN revenue was ¥8.105 billion, down 3.6% year on year, or 3.2% on a local-currency basis, while operating profit was ¥291 million, down 40.8% year on year, or 40.6% on a local-currency basis.」

    ASEAN revenue declined 3.6% year on year, and operating profit also declined 40.8%, indicating deterioration in performance from the previous disclosure.
  14. FY2022-Q1WorsenedAnnual report

    「As a result, total ASEAN revenue was ¥4.002 billion, down 7.6% year on year, or 5.2% on a local-currency basis, while operating profit was ¥147 million, down 55.3% year on year, or 54.1% on a local-currency basis.」

    ASEAN revenue declined 7.6% year on year, while operating profit also declined 55.3%.
  15. FY2021-Q3AdvancedAnnual report

    「The consolidation of Fuji Seal Packaging (Thailand) Co., Ltd. as a subsidiary resulted in significant increases in both revenue and profit. Revenue from shrink labels was ¥5.468 billion, up 106.2% year on year, or 109.2% on a local-currency basis; revenue from soft pouches was ¥5.999 billion, compared with ¥323 million in the same period of the previous year; and revenue from other products was ¥672 million, up 41.2% year on year, or 43.3% on a local-currency basis. As a result, total ASEAN revenue was ¥12.140 billion, up 251.7% year on year, or 256.9% on a local-currency basis, while operating profit was ¥681 million, up 314.9% year on year, or 320.9% on a local-currency basis.」

    The effect of the Thai subsidiary expanded through the cumulative third quarter, with ASEAN revenue up 251.7% year on year and operating profit up 314.9%.
  16. FY2021-Q2AdvancedAnnual report

    「The consolidation of Fuji Seal Packaging (Thailand) Co., Ltd. as a subsidiary resulted in significant increases in both revenue and profit. Revenue from shrink labels was ¥3.7 billion, up 115.5% year on year, or 119.2% on a local-currency basis; revenue from soft pouches was ¥4.230 billion, compared with ¥197 million in the same period of the previous year; and revenue from other products was ¥476 million, up 29.1% year on year, or 31.3% on a local-currency basis. As a result, total ASEAN revenue was ¥8.407 billion, up 268.3% year on year, or 274.5% on a local-currency basis, while operating profit was ¥491 million, up 643.6% year on year, or 656.2% on a local-currency basis.」

    The effect of the Thai subsidiary was reflected in cumulative results for the first half, with ASEAN revenue up 268.3% year on year and operating profit up 643.6%.
  17. FY2021-Q1AdvancedAnnual report

    「The consolidation of Fuji Seal Packaging (Thailand) Co., Ltd. as a subsidiary resulted in significant increases in both revenue and profit. Revenue from shrink labels was ¥1.976 billion, up 149.1% year on year, or 152.2% on a local-currency basis; revenue from soft pouches was ¥2.123 billion, compared with ¥80 million in the same period of the previous year; and revenue from other products was ¥233 million, up 35.6% year on year, or 37.3% on a local-currency basis. As a result, total ASEAN revenue was ¥4.333 billion, up 314.1% year on year, or 319.3% on a local-currency basis, while operating profit was ¥329 million, compared with ¥3 million in the same period of the previous year.」

    The full consolidation of Thailand's Fuji Seal Packaging, for which the resolution and contract signing had been disclosed in the previous quarter, was reflected in consolidated results. ASEAN revenue increased 314.1%, and operating profit rose from ¥3 million to ¥329 million.
  18. FY2020-Q3AdvancedAnnual report

    「At a meeting of the Board of Directors held on 31 January 2020, the Company resolved to acquire for cash an additional 51% of the shares in Fuji Ace Co., Ltd. held by the Ajinomoto Group, making it a wholly owned subsidiary. The Company already held 49% of the shares in Fuji Ace, an equity-method affiliate of the Company, referred to below as FA. Based on this resolution, the Company entered into a share transfer agreement dated 5 February 2020.」

    As a specific measure to strengthen business expansion in the ASEAN and South Asia regions, the Company resolved to acquire an additional 51% of Thailand's Fuji Ace and make it a wholly owned subsidiary, and entered into a share transfer agreement. The acquisition was scheduled for the fourth quarter of fiscal 2019, with an acquisition price of ¥4.515 billion.
  19. FY2020-Q2MitigatedAnnual report

    「Sales, centered on shrink labels, progressed as planned. Earnings also progressed largely as planned. As a result, total ASEAN revenue was ¥2.282 billion, up 21.4% year on year, or 19.9% on a local-currency basis, while operating profit was ¥66 million, compared with an operating loss of ¥20 million in the same period of the previous year.」

    ASEAN revenue increased 21.4% year on year, and the segment moved from an operating loss of ¥20 million to operating profit of ¥66 million.
  20. FY2020-Q1MitigatedAnnual report

    「(ASEAN) Sales of shrink labels and other products increased, resulting in revenue of ¥1.046 billion, up 24.4% year on year, or 22.1% on a local-currency basis. In terms of earnings, operating profit was ¥3 million, compared with an operating loss of ¥27 million in the same period of the previous year.」

    ASEAN revenue increased 24.4%, and the segment moved from an operating loss of ¥27 million in the same period of the previous year to operating profit of ¥3 million. India has been added to the segment's country and regional breakdown.
  21. FY2019MitigatedAnnual report

    「(ASEAN) Revenue was ¥4.347 billion, up 35.5% year on year, or 37.6% on a local-currency basis. In terms of earnings, operating profit was ¥23 million, compared with an operating loss of ¥47 million in the previous fiscal year.」

    ASEAN revenue increased 35.5%, and the segment moved from operating loss to operating profit of ¥23 million.
  22. FY2019-Q3MitigatedAnnual report

    「(ASEAN) Revenue was ¥3.167 billion, up 46.1% year on year, or 49.2% on a local-currency basis. In terms of earnings, operating profit was ¥23 million, compared with an operating loss of ¥0 million in the same period of the previous year.」

    ASEAN revenue increased 46.1%, and the segment moved from operating loss to operating profit of ¥23 million. Earnings related to sales expansion and upfront investments improved from the previous disclosure.
  23. FY2019-Q2WorsenedAnnual report

    「(ASEAN) Revenue was ¥1.880 billion, up 32.0% year on year, or 36.5% on a local-currency basis. In terms of earnings, operating loss was ¥20 million, compared with operating profit of ¥9 million in the same period of the previous year.」

    ASEAN revenue increased 32.0%, while the segment moved from operating profit to operating loss, indicating deterioration in earnings.
  24. FY2019-Q1WorsenedAnnual report

    「(ASEAN) Sales of shrink labels and other products increased, resulting in revenue of ¥841 million, up 26.6% year on year, or 32.9% on a local-currency basis. In terms of earnings, operating loss was ¥27 million, compared with an operating loss of ¥15 million in the same period of the previous year, due to higher costs associated with upfront investments.」

    ASEAN revenue increased 26.6% year on year, while operating loss widened from ¥15 million to ¥27 million due to higher costs for upfront investments.
  25. FY2018WorsenedAnnual report

    「(ASEAN) Sales of shrink labels and other products increased, resulting in revenue of ¥3.208 billion, up 34.0% year on year, or 30.0% on a local-currency basis. In terms of earnings, operating loss was ¥47 million, compared with operating profit of ¥23 million in the previous fiscal year, due to upfront investments, including increased staffing, made in line with the revenue growth plan.」

    ASEAN revenue increased 34.0%, but the segment moved from operating profit to operating loss because of upfront investments, including increased staffing.
  26. FY2018-Q3WorsenedAnnual report

    「In ASEAN, sales of shrink labels and other products increased, bringing net sales to ¥2,168 million, up 19.8% year on year and 16.2% on a local-currency basis. In terms of earnings, operating loss came to ¥0 million, compared with operating income of ¥42 million in the same period of the previous year, due in part to higher expenses associated with upfront investment.」

    While sales continued to expand in ASEAN, higher upfront investment expenses resulted in a shift from operating income in the same period of the previous year to an operating loss.
  27. FY2018-Q2WorsenedAnnual report

    「In ASEAN, sales of shrink labels and other products increased, bringing net sales to ¥1,424 million, up 13.6% year on year and 13.0% on a local-currency basis. In terms of earnings, operating income came to ¥9 million, down 75.5% year on year and 75.7% on a local-currency basis, due in part to higher expenses associated with upfront investment.」

    ASEAN sales continued to expand, but operating income fell 75.5% year on year due to higher upfront investment expenses, indicating deterioration in earnings.
  28. FY2018-Q1WorsenedAnnual report

    「In ASEAN, sales of shrink labels and other products increased, bringing net sales to ¥664 million, up 7.8% year on year and 9.5% on a local-currency basis. In terms of earnings, operating loss came to ¥15 million, compared with operating income of ¥3 million in the same period of the previous year, due in part to higher expenses associated with upfront investment.」

    Although ASEAN sales increased, higher upfront investment expenses resulted in a shift from operating income in the same period of the previous year to an operating loss.
  29. FY2017RestatedAnnual report

    「In ASEAN, sales of shrink labels increased, bringing net sales to ¥2,393 million, up 16.6% year on year and 29.8% on a local-currency basis. In terms of earnings, operating income came to ¥23 million, down 9.4% year on year and up 0.8% on a local-currency basis, due in part to higher expenses associated with upfront investment.」

    It continues to report, on an annual basis, increased shrink-label sales in ASEAN and the pattern of upfront investment expenses weighing on earnings.
  30. FY2017-Q3RestatedAnnual report

    「Sales of shrink labels and other products increased, bringing net sales to ¥1,809 million, up 17.6% year on year. In terms of earnings, operating income came to ¥42 million, down 6.7% year on year, due in part to higher expenses associated with upfront investment.」

    It continues to report increased sales and upfront investment in ASEAN. While net sales increased 17.6% year on year, operating income declined year on year due to higher upfront investment expenses.
  31. FY2017-Q2AdvancedAnnual report

    「Sales of shrink labels increased, bringing net sales to ¥1,253 million, up 26.1% year on year. In terms of earnings, operating income came to ¥37 million, up 6.6% year on year, due in part to higher expenses associated with upfront investment. / ASEAN: Indonesia, Vietnam and Thailand」

    ASEAN shrink-label sales increased 26.1% year on year, and operating income also increased. Thailand has been added to the breakdown of countries and regions in the segment.
  32. FY2017-Q1First statedAnnual report

    「Sales of shrink labels increased, bringing net sales to ¥616 million, up 24.7% year on year. In terms of earnings, operating income came to ¥3 million, down 74.0% year on year, due in part to higher expenses associated with upfront investment.」

    While expanding shrink-label sales in ASEAN, upfront investment expenses have weighed on earnings.
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  1. ★This thread
  2. 1Impact of Yen Appreciation on Overseas Assets and Comprehensive Income11×
  3. 2First-Half Revenue and Profit Growth and Return to Profitability for Profit Attributable to Owners of the Parent7×
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  5. 4¥21-per-share dividend funded by retained earnings6×
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  7. 6Growth Investments Funded by Retained Earnings and Flexible Acquisition and Disposal of Treasury Shares5×

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ASEAN Sales Expansion and Upfront Investment | FUJI SEAL INTERNATIONAL,INC. (7864) | Komori