Hiring difficulties, rising turnover and higher labor costs
First written in FY2017. 14 of 20 entries say "Restated". Latest entry: FY2026.
Keio moved to the "Worse" side of this theme in 2025, 2 years after the typical company in this theme (2023).
The whole theme swung hardest in 2025: 18 of 32 companies on the "Worse" side.
8 other companies' latest entry also says "Materialised".
- FY2026MaterialisedAnnual report
「In the railway business, passenger numbers exceeded the previous fiscal year for both commuter-pass and non-commuter-pass passengers, but revenue increased and profit declined due to higher depreciation expenses from new rolling stock and higher personnel expenses associated with improved employee compensation.」
The company states that higher personnel expenses associated with improved employee compensation actually arose and were a factor behind the decline in profit in the railway business. - FY2026-H1MaterialisedAnnual report
「In the railway business, passenger numbers exceeded the year-earlier period for both commuter-pass and non-commuter-pass passengers, but revenue increased and profit declined due to higher personnel expenses associated with improved employee compensation and higher depreciation expenses from new rolling stock. Against a backdrop of increased inbound tourism and a buoyant accommodation market, room rates at the Keio Plaza Hotel (Shinjuku) and Keio Presso Inn, among others, increased, but revenue increased and profit declined due to higher personnel expenses associated with securing personnel at the Keio Plaza Hotel.」
Higher personnel expenses associated with improved employee compensation and securing personnel actually arose in the railway and hotel businesses and were cited as factors behind the decline in profit in both businesses. - FY2024-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company states that there has been no occurrence or material change in its major business and other risks, including difficulties in recruiting and retaining and developing personnel. - FY2024-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company states that there has been no occurrence or material change in its major business and other risks, including difficulties in recruiting and retaining and developing personnel. - FY2023RestatedAnnual report
「If changes in employment patterns and other factors make it difficult to continue securing and developing suitable human resources, the Group's business performance and financial condition may be affected.」
The company reconfirmed the risk of difficulties in recruiting and retaining and developing personnel, and indicated that it would address this through its human resources strategy. - FY2021-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
We stated that there had been no occurrence or material change regarding major business and other risks, including hiring difficulties, a rising turnover rate and higher labor costs. - FY2021-Q1RestatedAnnual report
「During the three-month period ended 30 June, there were no new risks that management recognizes as having the potential to materially affect the financial position, operating results or cash flows of the consolidated companies, and no material changes to the business risks described in the annual securities report for the previous fiscal year.」
We stated that there had been no occurrence or material change regarding major business and other risks, including hiring difficulties, a rising turnover rate and higher labor costs. - FY2020MitigatedAnnual report
「To address hiring difficulties and long working hours, we conducted recruitment activities throughout the year and promoted operational efficiency by introducing mobile computers and establishing meeting-management rules as part of our work-style reform initiatives, thereby reducing work outside standard hours and improving the annual paid-leave utilization rate.」
In response to risks related to hiring difficulties and labor costs, we implemented measures including year-round recruitment, mobile computers, meeting-management rules, reductions in working hours and improvements in the annual paid-leave utilization rate. - FY2020-Q3RestatedAnnual report
「During the cumulative third quarter, there were no newly arising business or other risks. There were also no material changes in the business and other risks described in the securities report for the previous fiscal year.」
We explicitly stated that there had been no new developments or material changes regarding the risks of hiring difficulties, a rising turnover rate and higher labor costs. - FY2020-Q2RestatedAnnual report
「During the cumulative second quarter, no new business or other risks arose. In addition, there were no material changes to the business and other risks described in the securities report for the previous fiscal year.」
We explicitly stated that there had been no new developments or material changes regarding the risks of hiring difficulties, a rising turnover rate and higher labor costs. - FY2020-Q1RestatedAnnual report
「During the cumulative first quarter, there were no newly arising business or other risks. There were also no material changes in the business and other risks described in the securities report for the previous fiscal year.」
We explicitly stated that there had been no new developments or material changes regarding the risks of hiring difficulties, a rising turnover rate and higher labor costs. - FY2019-Q3RestatedAnnual report
「There were no newly arising business or other risks during the nine-month period ended 31 December. In addition, there were no material changes to the "Business and Other Risks" described in the annual securities report for the previous fiscal year.」
We explicitly stated that there had been no new developments or material changes regarding the risks of hiring difficulties, a rising turnover rate and higher labor costs. - FY2019-Q2RestatedAnnual report
「During the cumulative second quarter, no new business or other risks arose. In addition, there were no material changes to the business and other risks described in the securities report for the previous fiscal year.」
We explicitly stated that there had been no new developments or material changes regarding the risks of hiring difficulties, a rising turnover rate and higher labor costs. - FY2019-Q1RestatedAnnual report
「During the cumulative first quarter, there were no newly arising business or other risks. There were also no material changes in the business and other risks described in the securities report for the previous fiscal year.」
We explicitly stated that there had been no new developments or material changes regarding the risks of hiring difficulties, a rising turnover rate and higher labor costs. - FY2018RestatedAnnual report
「The Group employs a large number of people, and hiring difficulties, a higher turnover rate, increases in the minimum wage and prevailing hourly wages, and higher social insurance premiums could affect the Group's business performance and financial condition by driving up labor costs.」
We continue to disclose the risks of hiring difficulties, a rising turnover rate and higher labor costs as before. - FY2018-Q3RestatedAnnual report
「During the cumulative third quarter, there were no newly arising business or other risks. There were also no material changes in the business and other risks described in the securities report for the previous fiscal year.」
We explicitly stated that there had been no new developments or material changes regarding the risks of hiring difficulties, a rising turnover rate and higher labor costs. - FY2018-Q2RestatedAnnual report
「No new business or other risks arose during the six-month period of the current consolidated fiscal year. There were also no material changes to the “Business and Other Risks” described in the securities report for the previous fiscal year.」
We explicitly stated that there had been no new developments or material changes regarding the risks of hiring difficulties, a rising turnover rate and higher labor costs. - FY2017First statedAnnual report
「The Group employs a large number of people, and hiring difficulties, a higher turnover rate, increases in the minimum wage and prevailing hourly wages, and higher social insurance premiums could affect the Group's business performance and financial condition by driving up labor costs.」
We identified hiring difficulties, a rising turnover rate, increases in the minimum wage and prevailing hourly wages, and higher social insurance premiums as new risks related to human resources and labor costs.