Pressure on profit from higher personnel, logistics and warranty insurance costs, among others
First written in FY2020. 4 of 10 entries say "Worsened", first in FY2022. Latest entry: FY2026.
Joshin moved to the "Worse" side of this theme in 2022, 1 year after the typical company in this theme (2021).
The whole theme swung hardest in 2022: 64 of 102 companies on the "Worse" side.
44 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「Logistics costs ¥14,320 million ¥14,731 million」
Logistics costs increased from ¥14,320 million in the previous fiscal year to ¥14,731 million, and margin pressure from higher costs driven by labor shortages and other factors continued. - FY2026-H1Interim SG&A updateAnnual report
「Selling, general and administrative expenses ¥49,013 million ¥50,376 million」
SG&A expenses for the current interim consolidated accounting period were ¥50,376 million, up from ¥49,013 million in the same period of the previous year. Salaries and allowances also increased from ¥12,804 million to ¥13,172 million. - FY2025WorsenedAnnual report
「Logistics costs ¥13,608 million ¥14,320 million」
Logistics costs increased from ¥13,608 million in the previous fiscal year to ¥14,320 million. Margin pressure from rising logistics costs driven by labor shortages and other factors continued. - FY2025-H1Interim SG&A and labor-cost updateAnnual report
「Selling, general and administrative expenses ¥48,282 million ¥49,013 million」
SG&A expenses increased from ¥48,282 million in the same period of the previous year to ¥49,013 million. Salaries and allowances also increased from ¥12,543 million to ¥12,804 million. - FY2024Annual logistics-cost updateAnnual report
「Logistics costs ¥14,004 million ¥13,608 million」
Logistics costs decreased from ¥14,004 million in the previous fiscal year to ¥13,608 million. This is disclosed together with the full-scale operation of the new logistics center and progress in developing the logistics structure. - FY2024-Q1RestatedAnnual report
「However, amid soaring global raw-material prices due in part to the prolonged situation in Ukraine, the trend of price increases for various products, utilities and services continued. Combined with instability in financial markets, this meant that the outlook for the economy remained extremely uncertain.」
The Group reaffirms continued price increases for products, utilities and services against the backdrop of soaring global raw-material prices as a factor behind rising costs. - FY2023WorsenedAnnual report
「Logistics costs ¥9,370 million ¥14,004 million」
Logistics costs increased from ¥9,370 million in the previous fiscal year to ¥14,004 million. The margin pressure from rising logistics costs has intensified in actual results. - FY2022WorsenedAnnual report
「Logistics costs ¥7,532 million ¥9,370 million」
Logistics costs increased from ¥7,532 million in the previous fiscal year to ¥9,370 million. Higher logistics costs driven by labor shortages and other factors continued to be reflected in actual results. - FY2021RestatedAnnual report
「In the current consolidated fiscal year, the Group continued to promote work-style reforms and make active labor-saving investments, as in the previous consolidated fiscal year. In addition, due to higher logistics costs resulting from labor shortages and increased premiums for the free product-repair warranty provided as a member benefit as the number of credit-card members increased, SG&A expenses rose 4.3% from the previous consolidated fiscal year.」
Although higher costs, including logistics costs resulting from labor shortages and premiums for free repair warranties, continued, the Group states that operating profit increased due to improvements in net sales and the gross profit margin. - FY2020First statedAnnual report
「Due to higher logistics costs resulting from labor shortages and increased premiums for the free product-repair warranty provided as a member benefit as the number of credit-card members increased, selling, general and administrative expenses rose 5.1% from the previous consolidated fiscal year. The increase in SG&A expenses could not be covered by the increase in gross profit, and operating profit fell 18.3% to ¥8,979 million.」
The Group identifies as a new profitability risk the increase in SG&A expenses and resulting decline in operating profit caused by work-style reforms, strengthened recruitment, labor-saving investment, higher logistics costs and increased premiums for free repair warranties.