Earnings Improvement Through SG&A Expense Reduction at European Sales Subsidiary
First written in FY2018-Q3. 10 of 20 entries say "Worsened", first in FY2019-Q1. Latest entry: FY2026-H1.
Yonex moved to the "Worse" side of this theme in 2019.
1 other company's latest entry also says "Restated".
- FY2026-H1RestatedAnnual report
「In terms of profit, gross profit increased with higher revenue, but the increase in selling, general and administrative expenses, including personnel expenses and advertising and promotion expenses related to international tournaments, exceeded this increase, resulting in lower profit. As a result, revenue was ¥3,085 million, up 8.0% year on year, and operating profit was ¥227 million, down 23.3% year on year.」
Although revenue increased at the European sales subsidiary, higher selling, general and administrative expenses, including personnel expenses and advertising and promotion expenses related to international tournaments, resulted in lower profit, indicating that the trend of profit improvement has not yet become established. - FY2025WorsenedAnnual report
「In terms of profit, gross profit increased with higher revenue, but selling, general and administrative expenses also increased due to higher advertising and promotion expenses and personnel expenses, resulting in lower profit. As a result, revenue was ¥5,359 million, up 18.6% from the previous period, and operating profit was ¥477 million, down 10.6% from the previous period.」
Although revenue increased at the European sales subsidiary, the increase in advertising and promotion expenses and personnel expenses exceeded the increase in gross profit, resulting in a 10.6% year-on-year decline in operating profit. - FY2024AdvancedAnnual report
「In terms of profit, in addition to higher revenue, gross profit increased as the gross profit margin improved substantially due to an improved sales mix, a review of selling prices and other factors.」
At the European sales subsidiary, the gross profit margin improved substantially due to an improved sales mix and a review of selling prices, resulting in operating profit of ¥533 million, up 211.4% from the previous period. - FY2024-Q3AdvancedAnnual report
「In terms of profit, in addition to higher revenue, gross profit increased substantially as the gross profit margin improved significantly due to an improved sales mix and more efficient logistics. This exceeded the increase in selling, general and administrative expenses, including personnel and advertising and promotion expenses, resulting in a substantial increase in profit. As a result, revenue was ¥3,370 million, up 24.3% year on year, and operating profit was ¥427 million, up 1,709.7% year on year.」
At the European sales subsidiary, the gross profit margin continued to improve due to an improved sales mix and more efficient logistics, absorbing the increase in selling, general and administrative expenses. Operating profit for the cumulative third quarter was ¥427 million, up 1,709.7% year on year. - FY2024-Q2AdvancedAnnual report
「In terms of profit, in addition to higher revenue, gross profit increased substantially as the gross profit margin improved significantly due to an improved sales mix and more efficient logistics. This exceeded the increase in selling, general and administrative expenses, including personnel and advertising and promotion expenses, resulting in a substantial increase in profit. As a result, revenue was ¥2,247 million, up 34.4% year on year, and operating profit was ¥266 million, compared with an operating loss of ¥37 million in the same quarter of the previous year.」
At the European sales subsidiary, the gross profit margin improved substantially due to an improved sales mix and more efficient logistics, resulting in a shift from an operating loss in the same period of the previous year to operating profit of ¥266 million. - FY2024-Q1AdvancedAnnual report
「In terms of profit, in addition to higher revenue, gross profit increased substantially as the gross profit margin improved significantly due to an improved sales mix and more efficient logistics. This exceeded the increase in selling, general and administrative expenses, including personnel and advertising and promotion expenses, resulting in a substantial increase in profit.」
At the European sales subsidiary, the gross profit margin improved substantially due to an improved sales mix and more efficient logistics, absorbing the increase in selling, general and administrative expenses and resulting in a substantial increase in profit. - FY2023-Q3WorsenedAnnual report
「At the German and UK sales subsidiaries, the badminton market became more active as facilities reopened and international tournaments were held. In addition, steady demand for tennis drove higher sales, particularly of rackets, resulting in a substantial increase in revenue. Profit declined due to the lower gross profit margin resulting from the sales mix, as well as higher advertising and promotion expenses associated with international tournaments and other factors. As a result, revenue was ¥2,710 million, up 65.4% year on year, and operating profit was ¥23 million, down 64.4% year on year.」
In Europe, revenue increased substantially as facilities reopened and international tournaments were held, while operating profit declined 64.4% year on year due to a lower gross profit margin resulting from the sales mix and higher advertising and promotion expenses. - FY2022-Q3AdvancedAnnual report
「In terms of profit, gross profit increased and advertising and promotion expenses and other costs decreased due to the cancellation of various tournaments, resulting in higher profit. As a result, revenue was ¥1,638 million, up 13.9% year on year, and operating profit was ¥66 million, compared with an operating loss of ¥33 million in the same quarter of the previous year.」
At the European sales subsidiary, lower advertising and promotion expenses and other costs and higher gross profit resulted in a shift from an operating loss to operating profit of ¥66 million. - FY2022-Q2MitigatedAnnual report
「In terms of profit, although revenue declined substantially in the first quarter and the company posted an operating loss, as in the previous period, gross profit increased and selling, general and administrative expenses decreased due to the cancellation of various tournaments and other factors, as well as controls on personnel expenses, narrowing the loss. As a result, revenue was ¥864 million, down 1.0% year on year, and the operating loss was ¥23 million, compared with an operating loss of ¥54 million in the same quarter of the previous year.」
At the European sales subsidiary, selling, general and administrative expenses decreased due to controls on personnel expenses and other factors, narrowing the operating loss from ¥54 million in the same period of the previous year to ¥23 million. - FY2022-Q1WorsenedAnnual report
「At the UK sales subsidiary, prolonged closures and restrictions affecting many retailers and sports facilities due to COVID-19 resulted in a substantial decline in revenue across nearly all categories. Although selling, general and administrative expenses decreased as various tournaments were cancelled, the significant decline in gross profit resulting from lower revenue led to an operating loss, as in the previous period. As a result, revenue was ¥344 million, down 46.1% year on year, and the operating loss was ¥26 million, compared with an operating loss of ¥8 million in the same quarter of the previous year.」
At the European sales subsidiary, the operating loss widened from ¥8 million in the same period of the previous year to ¥26 million as prolonged closures and restrictions reduced revenue. - FY2021WorsenedAnnual report
「As a result, revenue was ¥1,901 million, down 16.9% from the previous fiscal year, and the operating loss was ¥121 million, compared with an operating loss of ¥73 million in the previous fiscal year.」
At the European sales subsidiary, the operating loss widened from ¥73 million in the previous fiscal year to ¥121 million due to lower revenue. - FY2021-Q3MitigatedAnnual report
「On the profit front, gross profit declined due to lower revenue, but the operating loss narrowed from the second quarter due to SG&A expense reductions.」
At the European sales subsidiary, the decline in gross profit due to lower revenue continued, while SG&A expense reductions narrowed the operating loss from the second quarter. - FY2021-Q2WorsenedAnnual report
「On the profit front, the decline in gross profit accompanying lower revenue widened the loss. As a result, revenue was ¥873 million, down 25.9% year on year, and the operating loss was ¥54 million, compared with an operating loss of ¥16 million in the same period of the previous year.」
At the European sales subsidiary, the decline in gross profit accompanying lower revenue resulted in an operating loss of ¥54 million, widening the loss from ¥16 million in the same period of the previous year. - FY2020WorsenedAnnual report
「As a result, revenue was ¥2,286 million, down 5.4% from the previous fiscal year, and the operating loss was ¥73 million, compared with operating profit of ¥43 million in the previous fiscal year.」
At the European sales subsidiary, performance deteriorated from operating profit to an operating loss for the full year due to the gross margin decline and higher SG&A expenses. - FY2020-Q3WorsenedAnnual report
「At the European sales subsidiary, badminton equipment sales declined, while tennis equipment sales increased due to higher racquet sales. Total sales increased in local-currency terms, but declined due to the impact of foreign currency translation. On the profit front, the gross margin declined due to changes in the sales mix, while SG&A expenses, including personnel expenses, increased. As a result, revenue was ¥1,737 million, down 5.3% year on year, and the operating loss was ¥25 million, compared with operating profit of ¥64 million in the same period of the previous year.」
At the European sales subsidiary, higher SG&A expenses and the gross margin decline continued, resulting in an operating loss of ¥25 million and a wider deterioration from operating profit in the same period of the previous year. - FY2020-Q2WorsenedAnnual report
「At the European sales subsidiary, badminton equipment sales were at the previous year's level, while tennis equipment sales declined. Sales of apparel, accessories and other products increased, resulting in a slight increase in total sales in local-currency terms, but sales declined due to the impact of foreign currency translation. On the profit front, the gross margin declined due to changes in the sales mix, while SG&A expenses remained at the previous year's level. As a result, revenue was ¥1,179 million, down 3.7% year on year, and the operating loss was ¥16 million, compared with operating profit of ¥23 million in the same period of the previous year.」
At the European sales subsidiary, the gross margin decline and foreign currency translation impact resulted in an operating loss of ¥16 million, deteriorating from operating profit in the same period of the previous year. - FY2019WorsenedAnnual report
「Although the gross margin improved, profit declined due to higher SG&A expenses.」
At the European sales subsidiary, higher SG&A expenses exceeded the gross margin improvement, and lower profit continued for the full year. - FY2019-Q1WorsenedAnnual report
「Although an improvement in the gross margin was observed, higher SG&A expenses exceeded it, resulting in lower profit.」
At the European sales subsidiary, higher SG&A expenses exceeded the gross margin improvement, resulting in lower profit rather than the previous improvement through SG&A cost reductions. - FY2018RestatedAnnual report
「Profit increased, partly due to reductions in SG&A expenses.」
The document reports higher profit at the European sales subsidiary through reductions in SG&A expenses. - FY2018-Q3First statedAnnual report
「Profit increased due to higher gross profit and reductions in SG&A expenses.」
The first mention is made of the European sales subsidiary reducing SG&A expenses and achieving higher profit together with an increase in gross profit.