Margin deterioration due to frequent calls on guarantees and insufficient price pass-through
First written in FY2017. 7 of 17 entries say "Restated". Latest entry: 2026-08-07.
eGuarantee moved to the "Worse" side of this theme in 2024.
The whole theme swung hardest in 2018: 2 of 6 companies on the "Worse" side.
2 other companies' latest entry also says "Mitigated".
- 2026-08-07MitigatedFinancial results briefing materials
「倒産環境が安定的に推移した結果、売上総利益率は前期と同水準を維持。」
第1四半期について、倒産環境の安定により売上総利益率が前年同期と同水準となったと説明している。 - FY2026MaterialisedAnnual report
「As guarantee claims increased in line with the rise in insolvencies, primarily during the first half, gross profit amounted to ¥8,072,880 thousand, up 3.3% year on year.」
The company explained that guarantee claims actually increased in line with the rise in insolvencies, affecting cost of sales and the growth rate of gross profit. - FY2026-H1MaterialisedAnnual report
「As guarantee claims and cost of sales increased due to the rise in insolvencies, gross profit amounted to ¥3,979,493 thousand, up 5.8% year on year.」
The company explained that the increase in guarantee claims and cost of sales associated with rising corporate insolvencies actually occurred in FY2026-H1. - FY2025MaterialisedAnnual report
「As guarantee claims increased in line with the rise in insolvencies, primarily during the first half, gross profit amounted to ¥7,818,743 thousand, up 6.1% year on year.」
The company explained that guarantee claims actually increased as insolvencies rose, resulting in higher cost of sales and affecting the growth rate of gross profit. - FY2025-H1MaterialisedAnnual report
「The cost ratio deteriorated due to the impact of increased guarantee claims against a backdrop of rising insolvencies, but」
The company explained that guarantee claims increased against a backdrop of rising corporate insolvencies, causing the cost ratio to deteriorate. - FY2024RestatedAnnual report
「During an economic downturn in which guarantee claims continue to occur frequently, demand for guarantees from customers also increases. The company therefore passes costs through to the guarantee fees charged to customers based on economic conditions, but insufficient progress in passing through costs could affect the Group's performance.」
The company has reaffirmed the impact on performance of insufficient cost pass-through when guarantee claims occur frequently. - FY2023RestatedAnnual report
「During an economic downturn in which guarantee claims continue to occur frequently, demand for guarantees from customers also increases. The company therefore passes costs through to the guarantee fees charged to customers based on economic conditions, but insufficient progress in passing through costs could affect the Group's performance.」
The company has reaffirmed the impact on performance of insufficient cost pass-through when guarantee claims occur frequently. - FY2022RestatedAnnual report
「During an economic downturn in which guarantee claims continue to occur frequently, demand for guarantees from customers also increases. The company therefore passes costs through to the guarantee fees charged to customers based on economic conditions, but insufficient progress in passing through costs could affect the Group's performance.」
The company has reaffirmed the impact on performance of frequent guarantee claims during economic downturns and insufficient cost pass-through to guarantee fees. - FY2021RestatedAnnual report
「During an economic downturn in which guarantee claims continue to occur frequently, demand for guarantees from customers also increases. The company therefore passes costs through to the guarantee fees charged to customers based on economic conditions, but insufficient progress in passing through costs could affect the Group's performance.」
The company has reaffirmed the impact on performance of frequent guarantee claims during economic downturns and insufficient cost pass-through to guarantee fees. - FY2020RestatedAnnual report
「During an economic downturn in which guarantee claims continue to occur frequently, demand for guarantees from customers also increases. The company therefore passes costs through to the guarantee fees charged to customers based on economic conditions, but insufficient progress in passing through costs could affect the Group's performance.」
The company has reaffirmed the impact on performance of frequent guarantee claims during economic downturns and insufficient cost pass-through to guarantee fees. - FY2019RestatedAnnual report
「During an economic downturn in which guarantee claims continue to occur frequently, demand for guarantees from customers also increases. The company therefore passes costs through to the guarantee fees charged to customers based on economic conditions, but insufficient progress in passing through costs could affect the Group's performance.」
The company has reaffirmed the impact on performance of frequent guarantee claims during economic downturns and insufficient cost pass-through to guarantee fees. - FY2018RestatedAnnual report
「During an economic downturn in which guarantee claims continue to occur frequently, demand for guarantees from customers also increases. The company therefore passes costs through to the guarantee fees charged to customers based on economic conditions, but insufficient progress in passing through costs could affect the Group's performance.」
The company has reaffirmed the impact on performance of frequent guarantee claims during economic downturns and insufficient cost pass-through to guarantee fees. - FY2017First statedAnnual report
「During an economic downturn in which guarantee claims continue to occur frequently, demand for guarantees from customers also increases. The company therefore passes costs through to the guarantee fees charged to customers based on economic conditions, but insufficient progress in passing through costs could affect the Group's performance.」
The company has identified as a new risk the impact on margins and performance of frequent guarantee claims during economic downturns and insufficient cost pass-through to guarantee fees.