Low-Cost Operating Structure and Improved Earnings Structure
First written in FY2016. 7 of 28 entries say "Advanced", first in FY2018-Q3. Latest entry: FY2026.
19 other companies' latest entry also says "Other".
- FY2026Increase in advertising, office and R&D expensesAnnual report
「SG&A expenses increased to ¥6,979 million, up ¥314 million, or 4.7%, year on year. The main factors were an increase in trading-related expenses to ¥2,173 million, up ¥114 million, or 5.5%, due to active web advertising, and an increase in real estate-related expenses to ¥811 million, up ¥122 million, or 17.7%, following the expansion of office space.」
Against the previous focus on cost reduction, expenses related to growth and infrastructure investment increased, including web advertising, office expansion, and the development of the next-generation trading and customer management systems. - FY2026-H1Higher advertising expenses and system investment; lower personnel expensesAnnual report
「Personnel expenses, which had increased in the previous corresponding period due to the impact of a change in the accounting estimate for recognizing compensation expenses under the restricted stock compensation plan, decreased to ¥1,346 million, down ¥188 million, or 12.3%, in the current interim consolidated accounting period. Meanwhile, trading-related expenses increased to ¥1,089 million, up ¥62 million, or 6.1%, and real estate-related expenses increased to ¥373 million, up ¥49 million, or 15.1%, due to increased system investment. Taxes and dues also increased to ¥149 million, up ¥42 million, or 39.1%.」
Personnel expenses decreased 12.3% year on year, while trading-related expenses increased 6.1% and real estate-related expenses increased 15.1% due to stronger system investment. Total SG&A expenses were ¥3,383 million, up 1.5% year on year. - FY2025Increase in SG&A expenses due to higher personnel and web advertising expensesAnnual report
「SG&A expenses increased to ¥6,665 million, up ¥1,165 million, or 21.2%, year on year. The main factors were an increase in personnel expenses to ¥3,005 million, up ¥730 million, or 32.1%, due mainly to a change in the accounting estimate for recognizing compensation expenses under the restricted stock compensation plan and higher employee salaries, and an increase in trading-related expenses to ¥2,059 million, up ¥248 million, or 13.7%, due to active web advertising.」
Although the Company has achieved cost reductions through in-house development of systems and other measures, SG&A expenses increased 21.2% in the current fiscal year due to higher personnel and web advertising expenses. - FY2024-Q3Continued increase in SG&A expenses due to lower advertising expenses and higher personnel and other expensesAnnual report
「Meanwhile, SG&A expenses increased to ¥3,920 million, up ¥141 million, or 3.7%, year on year. The main factors were a decrease in trading-related expenses to ¥1,353 million, down ¥402 million, or 22.9%, due mainly to lower advertising expenses following a change in advertising agencies, more than offset by increases in personnel expenses to ¥1,533 million, up ¥240 million, or 18.6%, real estate-related expenses to ¥526 million, up ¥121 million, or 29.8%, depreciation and amortization to ¥242 million, up ¥66 million, or 37.9%, and other SG&A expenses to ¥120 million, up ¥90 million, or 303.1%.」
Although advertising and trading-related expenses decreased following a change in advertising agencies, total SG&A expenses increased 3.7% year on year due to higher personnel, real estate-related, depreciation and amortization, and other SG&A expenses. - FY2024-Q2Increase in SG&A expenses due to lower advertising expenses and higher personnel and other expensesAnnual report
「Meanwhile, SG&A expenses increased to ¥2,657 million, up ¥164 million, or 6.6%, year on year. The main factors were a decrease in trading-related expenses to ¥914 million, down ¥226 million, or 19.9%, following a change in advertising agencies in the foreign exchange trading business, more than offset by increases in personnel expenses to ¥1,039 million, up ¥153 million, or 17.3%, real estate-related expenses to ¥363 million, up ¥121 million, or 50.3%, depreciation and amortization to ¥152 million, up ¥35 million, or 30.7%, and other SG&A expenses to ¥97 million, up ¥70 million, or 269.3%.」
Trading-related expenses decreased 19.9% following a change in advertising agencies, but total SG&A expenses increased 6.6% year on year due to higher personnel, real estate-related, depreciation and amortization, and other expenses. - FY2024-Q1AdvancedAnnual report
「Meanwhile, SG&A expenses decreased to ¥1,194 million, down ¥29 million, or 2.4%, year on year. The main factor was a decrease in trading-related expenses to ¥339 million, down ¥239 million, or 41.4%, as advertising expenses declined following a change in advertising agencies in the foreign exchange trading business.」
A change in advertising agencies reduced advertising expenses, resulting in a 41.4% year-on-year decrease in trading-related expenses and a 2.4% decrease in total SG&A expenses. Specific cost reductions were achieved, indicating progress toward a lower-cost and improved profit structure. - FY2023AdvancedAnnual report
「Previously, the Company used a revenue-sharing model under which fees paid to advertising agencies for LIGHT FX were calculated by applying a rate to the service's revenue, so advertising expenses increased in proportion to the growth in FX revenue. Following the termination of the commissioned services agreement, the Company reviewed the structure of its advertising agency agreements for LIGHT FX and changed them to a performance-based model with major advertising agencies and others. As a result, the operating profit margin of the LIGHT FX business is expected to improve.」
In February 2023, the Company terminated its agreements with major advertising agencies and changed LIGHT FX's advertising fees from a revenue-sharing model to a performance-based model. An improvement in the business profit margin is expected. - FY2023-Q3Continued increase in advertising expensesAnnual report
「Meanwhile, SG&A expenses increased to ¥3,473 million, up ¥508 million, or 17.2%, year on year. The main factor was an increase in trading-related expenses to ¥1,755 million, up ¥452 million, or 34.8%, as advertising expenses increased in the foreign exchange trading business due to various initiatives, including TV commercials and transit advertising, aimed at acquiring new customers.」
Separate from the low-cost strategy involving system cost reductions and other measures, TV commercials, transit advertising and other initiatives to acquire new customers increased advertising expenses and SG&A expenses. - FY2023-Q2Continued increase in advertising expensesAnnual report
「Meanwhile, SG&A expenses increased to ¥2,284 million, up ¥290 million, or 14.6%, year on year. The main factor was an increase in trading-related expenses to ¥1,140 million, up ¥290 million, or 34.1%, as advertising expenses increased in the foreign exchange trading business due to various initiatives, including TV commercials and transit advertising, aimed at acquiring new customers.」
TV commercials, transit advertising and other initiatives aimed at acquiring new customers increased advertising and trading-related expenses, resulting in a 14.6% year-on-year increase in SG&A expenses. - FY2023-Q1Increase in SG&A expenses due to higher advertising expensesAnnual report
「Trading-related expenses increased to ¥579 million, up ¥156 million, or 36.9%, year on year, due to higher advertising expenses in the foreign exchange trading business, among other factors.」
Separate from the low-cost strategy involving system cost reductions and other measures, advertising expenses related to customer acquisition and business expansion increased during the quarter, resulting in a 36.9% increase in trading-related expenses. - FY2022Continued increases in personnel and SG&A expensesAnnual report
「Personnel expenses increased to ¥1,462 million, up ¥236 million, or 19.3%, year on year, due to increased staffing and the payment of performance bonuses, among other factors.」
Although advertising and trading-related expenses decreased, personnel expenses increased 19.3% due to increased staffing and performance bonuses, resulting in total SG&A expenses of ¥4,201 million, up 3.1% year on year. - FY2022-Q3SG&A expenses remained broadly unchanged; increases in personnel and server-related expensesAnnual report
「Meanwhile, personnel expenses increased to ¥995 million, up ¥117 million, or 13.4%, year on year, due to increased staffing. Real estate-related expenses also increased to ¥361 million, up ¥58 million, or 19.5%, due to higher equipment and fixture expenses, including server-related costs.」
Although trading-related expenses decreased due to lower advertising expenses, personnel and server-related costs increased, resulting in SG&A expenses of ¥2,964 million, up 0.3% year on year. - FY2022-Q2Decrease in SG&A and advertising expenses; increase in personnel expensesAnnual report
「Meanwhile, SG&A expenses decreased to ¥1,994 million, down ¥41 million, or 2.1%, year on year. Although personnel expenses increased to ¥691 million, up ¥103 million, or 17.6%, due to increased staffing, trading-related expenses decreased to ¥850 million, down ¥164 million, or 16.2%, as advertising expenses declined in the financial instruments trading business, among other factors.」
Personnel expenses increased 17.6% due to higher staffing, while trading-related expenses decreased 16.2% as advertising expenses declined, resulting in a 2.1% year-on-year decrease in total SG&A expenses. - FY2022-Q1Decrease in SG&A and advertising expenses; increase in personnel expensesAnnual report
「Meanwhile, SG&A expenses decreased to ¥984 million, down ¥105 million, or 9.7%, year on year. Although personnel expenses increased to ¥332 million, up ¥28 million, or 9.4%, due to increased staffing, trading-related expenses decreased to ¥423 million, down ¥141 million, or 25.1%, as advertising expenses in the foreign exchange trading business declined from the previous corresponding period.」
Personnel expenses continued to increase due to higher staffing, but trading-related expenses and total SG&A expenses decreased as advertising expenses declined. - FY2021-Q3Increase in SG&A expenses due to higher staffing and advertising expensesAnnual report
「SG&A expenses increased to ¥2,956 million, up ¥469 million, or 18.9%, year on year. Personnel expenses increased to ¥877 million, up ¥59 million, or 7.3%, due to increased staffing, while trading-related expenses increased to ¥1,444 million, up ¥459 million, or 46.7%, as advertising expenses were increased in the foreign exchange trading business to expand customer trading activity and customer assets under custody.」
SG&A expenses increased 18.9% year on year due to increased staffing and higher advertising expenses aimed at expanding customer trading activity and assets under custody. Expenses related to growth investments continued to increase separately from system cost reductions. - FY2021-Q2Continued increase in personnel and advertising expensesAnnual report
「SG&A expenses increased to ¥2,036 million, up ¥409 million, or 25.2%, year on year. Personnel expenses increased to ¥588 million, up ¥65 million, or 12.4%, due to increased staffing, while trading-related expenses increased to ¥1,015 million, up ¥370 million, or 57.4%, as advertising expenses were increased in the foreign exchange trading business to expand customer trading activity and customer assets under custody.」
Despite the low-cost strategy centered on reducing system expenses, SG&A expenses increased 25.2% year on year due to increased staffing and higher advertising expenses aimed at expanding customer trading activity and assets under custody. - FY2021-Q1Increase in personnel and advertising expensesAnnual report
「SG&A expenses increased to ¥1,090 million, up ¥309 million, or 39.7%, year on year. Personnel expenses increased to ¥303 million, up ¥53 million, or 21.2%, due to increased staffing, while trading-related expenses increased to ¥565 million, up ¥250 million, or 79.6%, as advertising expenses were increased in the foreign exchange trading business to expand customer trading activity and customer assets under custody.」
Separate from the low-cost strategy centered on reducing system expenses, SG&A expenses increased during the quarter due to higher staffing costs and advertising expenses aimed at acquiring customers and expanding assets under custody. - FY2020-Q3Slight increase in SG&A expenses; increase in advertising expensesAnnual report
「Meanwhile, SG&A expenses increased to ¥2,486.603 million, up ¥45.624 million, or 1.9%, year on year. Administrative expenses decreased to ¥72.207 million, down ¥192.377 million, or 72.7%, as expenses related to the external investigation committee recorded in the previous corresponding period did not recur. Goodwill amortization also ceased following its completion in November 2018, resulting in no expense being recorded, a decrease of ¥164.138 million year on year. However, in the foreign exchange trading business, trading-related expenses increased to ¥984.764 million, up ¥347.599 million, or 54.6%, as advertising expenses were increased to expand customer trading activity and customer assets under custody.」
External investigation committee expenses and goodwill amortization ceased, while higher advertising expenses aimed at expanding customer trading activity and assets under custody resulted in a 1.9% year-on-year increase in total SG&A expenses. - FY2020-Q1AdvancedAnnual report
「Meanwhile, SG&A expenses decreased to ¥780.420 million, down ¥55.384 million, or 6.6%, year on year. In the foreign exchange trading business, trading-related expenses increased to ¥314.715 million, up ¥135.958 million, or 76.1%, as advertising expenses were increased to expand customer trading activity and customer assets under custody. However, administrative expenses decreased to ¥28.408 million, down ¥127.702 million, or 81.8%, as expenses related to the external investigation committee recorded in the previous corresponding period did not recur, and goodwill amortization ceased following its completion in November 2018, resulting in no expense being recorded, a decrease of ¥61.552 million year on year.」
Despite higher advertising expenses, SG&A expenses decreased 6.6% year on year as external investigation committee expenses ceased and goodwill amortization ended, among other factors. - FY2019-Q3AdvancedAnnual report
「Real estate-related expenses decreased to ¥300.027 million, down ¥238.638 million, or 44.3%, as system usage fees paid to external vendors and linked to revenue from the foreign exchange trading business declined following the in-house development of the foreign exchange trading system. Meanwhile, administrative expenses increased to ¥264.584 million, up ¥228.096 million, or 625.1%, due mainly to higher expenses for outsourcing the external investigation committee's review of possible accounting errors and other matters in the Company's past financial statements or consolidated financial statements. As a result, SG&A expenses remained broadly unchanged year on year at ¥2,440.978 million, up ¥171.413 million, or 7.6%.」
Real estate-related expenses decreased 44.3% year on year against the backdrop of lower system usage fees following the in-house development of the system. However, administrative expenses related to the external investigation committee increased 625.1%, resulting in a 7.6% increase in total SG&A expenses. - FY2019-Q2AdvancedAnnual report
「Meanwhile, SG&A expenses remained broadly unchanged year on year at ¥1,688.002 million, up ¥44.560 million, or 2.7%. Real estate-related expenses decreased to ¥202.678 million, down ¥216.999 million, or 51.7%, as system usage fees paid to external vendors and linked to revenue from the foreign exchange trading business declined following the in-house development of the foreign exchange trading system. Meanwhile, administrative expenses increased to ¥231.405 million, up ¥203.036 million, or 715.7%, due mainly to higher expenses for outsourcing the external investigation committee's review of possible accounting errors and other matters in the Company's past financial statements or consolidated financial statements.」
Real estate-related expenses decreased 51.7% year on year following the in-house development of the system. Meanwhile, administrative expenses related to the external investigation committee increased, resulting in a 2.7% increase in total SG&A expenses. - FY2019-Q1AdvancedAnnual report
「SG&A expenses remained broadly unchanged year on year at ¥835.805 million, up ¥10.683 million, or 1.3%. Real estate-related expenses decreased to ¥99.946 million, down ¥111.914 million, or 52.8%, as system usage fees linked to revenue from the foreign exchange trading business declined following the integration of the foreign exchange trading systems. Meanwhile, administrative expenses increased to ¥156.111 million, up ¥130.822 million, or 517.3%, due mainly to higher outsourcing expenses related to the external investigation committee, among other factors.」
Real estate-related expenses decreased 52.8% against the backdrop of lower system usage fees following system integration. Meanwhile, outsourcing expenses and other costs related to the external investigation committee increased, leaving total SG&A expenses broadly unchanged year on year. - FY2018-Q3AdvancedAnnual report
「Meanwhile, SG&A expenses decreased to ¥2,316.936 million, down ¥265.894 million, or 10.3%, year on year. Although personnel expenses increased to ¥729.458 million, up ¥78.606 million, or 12.1%, due to increased staffing and other factors, real estate-related expenses decreased to ¥538.665 million, down ¥180.107 million, or 25.1%, as system usage fees linked to revenue from the foreign exchange trading business declined. In addition, trading-related expenses decreased to ¥572.469 million, down ¥80.040 million, or 12.3%, due to lower advertising expenses, among other factors.」
SG&A expenses decreased 10.3% year on year due to lower system usage fees, real estate-related expenses and advertising expenses, among other factors. - FY2017RestatedAnnual report
「Going forward, based on the development capabilities of Nextop.Asia, now a wholly owned subsidiary, we will work to achieve system integration during the fourth quarter of the fiscal year ending March 2018, substantially reduce system-related costs and fundamentally improve the profit and loss structure.」
The Company continues to pursue a policy of reducing system-related expenses, which account for approximately 30% or more of SG&A expenses, through system integration and improving its earnings structure. - FY2017-Q3RestatedAnnual report
「These system-related expenses, including system usage and maintenance fees and server costs, are important expense items accounting for approximately 30% or more of the Group's total SG&A expenses. We recognize that, in order to transition to a more stable profit structure, it is extremely important to integrate systems such as Minna no FX and Minna no SysTrade into a single platform, further improve system efficiency and reduce system-related expenses overall.」
The Company continues to recognize that system-related expenses account for approximately 30% or more of SG&A expenses and pursue a policy of reducing costs and improving its profit structure through integration. - FY2017-Q2RestatedAnnual report
「These system-related expenses, including system usage and maintenance fees and server costs, are important expense items accounting for approximately 30% or more of the Group's total SG&A expenses. We recognize that, in order to transition to a more stable profit structure, it is extremely important to integrate systems such as Minna no FX and Minna no SysTrade into a single platform, further improve system efficiency and reduce system-related expenses overall.」
The Company continues to pursue a policy of reducing system-related expenses to achieve a low-cost operating structure and a stable profit structure. - FY2017-Q1RestatedAnnual report
「These system-related expenses, including system usage and maintenance fees and server costs, are important expense items accounting for approximately 30% or more of the Group's total SG&A expenses. We recognize that, in order to transition to a more stable profit structure, it is extremely important to integrate systems such as Minna no FX and Minna no SysTrade into a single platform, further improve system efficiency and reduce system-related expenses overall.」
The Company continues to pursue a policy of reducing costs and lowering its break-even point through system integration. - FY2016First statedAnnual report
「These system-related expenses, including system usage and maintenance fees and server costs, are important expense items accounting for approximately 30% or more of the Group's total SG&A expenses. We recognize that, in order to transition to a more stable profit structure, it is extremely important to integrate systems such as Minna no FX and Minna no SysTrade into a single platform, further improve system efficiency and reduce system-related expenses overall.」
In addition to streamlining and selecting businesses, the Company plans to lower system costs and reduce its break-even point through system integration.