Margin Decline Despite Revenue Growth
First written in FY2016. 25 of 41 entries say "Mitigated", first in FY2018-Q1. Latest entry: 2026-08-13.
The whole theme swung hardest in 2022: 2 of 8 companies on the "Worse" side.
1 other company's latest entry also says "Worsened".
- FY2026-H1MitigatedAnnual report
「As a result, results for the interim consolidated accounting period were revenue of ¥20,410 million (up 13.0% year on year), business profit of ¥1,496 million (up 27.4% year on year), and operating profit of ¥1,490 million (up 26.7% year on year).」
Business profit growth of 27.4% and operating profit growth of 26.7% exceeded the 13.0% increase in revenue, mitigating the risk of declining margins amid revenue growth during the interim period. - FY2025WorsenedAnnual report
「As a result, results for the fiscal year were revenue of ¥38,804 million (up 13.4% from the previous fiscal year) and business profit of ¥2,871 million (up 13.2% from the previous fiscal year).」
While revenue increased by 13.4%, business profit growth was limited to 13.2%, with profit growth slightly lagging revenue growth. In BPO, segment profit also declined due to restructuring costs and other factors. - FY2025-H1WorsenedAnnual report
「Revenue: ¥18,064 million (up 6.3% year on year), business profit: ¥1,175 million (down 13.9% year on year), operating profit: ¥1,176 million (down 94.0% year on year)」
Revenue increased by 6.3%, while business profit declined by 13.9%. Operating profit and related items fell sharply due to the year-on-year impact of the ¥18,154 million gain on loss of control of a subsidiary, indicating a decline in profitability during the interim period despite revenue growth. - FY2024Higher revenue and profit on a like-for-like basis despite changes in the scope of consolidationAnnual report
「Consolidated results excluding GSX and MICS 30,944 33,731 2,787 2,461 2,555 94」
While the exclusion of GSX and MICS from consolidation resulted in lower consolidated revenue and business profit overall, on a comparable basis excluding both companies, revenue increased by ¥2,787 million and business profit by ¥94 million. - FY2024-Q3WorsenedAnnual report
「Consolidated results excluding GSX and MICS 22,512 24,585 2,073 1,892 1,813 △79」
On a comparable consolidated basis excluding GSX and MICS, revenue increased from ¥22,512 million to ¥24,585 million, while business profit declined from ¥1,892 million to ¥1,813 million. On a continuing-operations basis excluding the impact of the change in the scope of consolidation, profit declined despite higher revenue. - FY2024-Q2MitigatedAnnual report
「Consolidated results excluding GSX and MICS 14,863 16,517 1,654 1,176 1,368 192」
On a comparable consolidated basis excluding GSX and MICS, revenue increased from ¥14,863 million to ¥16,517 million, while business profit increased from ¥1,176 million to ¥1,368 million. Although consolidated revenue declined because of a change in the scope of consolidation, profit improved on a continuing-operations basis. - FY2024-Q1MitigatedAnnual report
「Gross profit also exceeded the same quarter of the previous fiscal year in line with the increase in revenue, improving 2.1% year on year. Selling, general and administrative expenses were almost unchanged year on year.」
Gross profit improved 2.1% year on year, while selling, general and administrative expenses were almost unchanged. The decline in margins caused by the cost burden of revenue growth eased at the gross profit level, excluding non-operating and one-off factors. - FY2023MitigatedAnnual report
「As a result, for the fiscal year, revenue was ¥37,063 million, up 14.6% year on year, and operating profit was ¥3,208 million, up 16.9%.」
Operating profit growth exceeded revenue growth, easing the decline in margins amid revenue growth for the full fiscal year. The consolidated operating margin was 8.7%. - FY2023-Q3MitigatedAnnual report
「As a result, for the nine-month period of the fiscal year, revenue was ¥26,952 million, up 15.4% year on year, operating profit was ¥2,466 million, up 33.3%, profit before tax for the quarter was ¥2,475 million, up 29.9%, and profit for the quarter attributable to owners of the parent was ¥1,367 million, up 11.8%.」
Revenue increased 15.4% year on year, while operating profit increased 33.3%, easing the risk of lower margins amid revenue growth through the nine-month period. - FY2023-Q2MitigatedAnnual report
「As a result, for the six-month period of the fiscal year, revenue was ¥17,626 million, up 17.2% year on year, operating profit was ¥1,533 million, up 31.3%, profit before tax for the quarter was ¥1,534 million, up 27.3%, and profit for the quarter attributable to owners of the parent was ¥794 million, up 5.6%.」
As revenue increased 17.2%, operating profit increased 31.3%, resulting in profit growth exceeding revenue growth. Including the absorption of the impact of quality problems in the first quarter, the decline in margins amid revenue growth eased over the six-month period. - FY2023-Q1WorsenedAnnual report
「As a result, for the first quarter of the fiscal year, revenue was ¥8,406 million, up 14.0% year on year, operating profit was ¥488 million, down 12.1%, profit before tax for the quarter was ¥481 million, down 16.2%, and profit for the quarter attributable to owners of the parent was ¥252 million, down 26.4%.」
Revenue increased 14.0% year on year, while operating profit declined 12.1% and profit for the quarter attributable to owners of the parent declined 26.4%. Lower margins amid revenue growth reappeared because of accounting provisions for quality issues, higher personnel expenses and other factors. - FY2022MitigatedAnnual report
「Revenue of ¥32,346 million, up 10.9% year on year, and operating profit of ¥2,745 million, up 24.8%.」
Operating profit growth exceeded revenue growth, resulting in a consolidated operating margin of 8.5%. The decline in margins amid revenue growth eased during the fiscal year. - FY2022-Q3WorsenedAnnual report
「As a result, for the nine-month period of the fiscal year, revenue was ¥23,354 million, up 9.8% year on year, operating profit was ¥1,850 million, up 3.0%, profit before tax for the quarter was ¥1,905 million, up 1.8%, profit for the quarter was ¥1,244 million, up 7.3%, and profit for the quarter attributable to owners of the parent was ¥1,206 million, up 7.1%.」
Revenue increased 9.8% year on year, while operating profit rose only 3.0%, meaning profit growth lagged revenue growth. Increases in selling, general and administrative expenses, including personnel expenses, advertising expenses and head-office relocation costs, were also reported. - FY2022-Q2WorsenedAnnual report
「As a result, for the six-month period of the fiscal year, revenue was ¥15,037 million, up 6.4% year on year, operating profit was ¥1,167 million, up 5.8%, profit before tax for the quarter was ¥1,205 million, up 4.6%, profit for the quarter was ¥790 million, up 15.2%, and profit for the quarter attributable to owners of the parent was ¥752 million, up 12.3%.」
Revenue increased 6.4% year on year, while operating profit growth was limited to 5.8%, leaving the operating margin slightly below the same period of the previous fiscal year. Increases in selling, general and administrative expenses, including personnel expenses, advertising expenses and head-office relocation costs, were reported. - FY2022-Q1RestatedAnnual report
「As a result, for the first quarter of the fiscal year, revenue was ¥7,372 million, up 5.6% year on year, operating profit was ¥556 million, up 5.4%, profit before tax was ¥574 million, up 1.7%, and profit for the quarter attributable to owners of the parent was ¥342 million, up 1.9%.」
Revenue and operating profit both exceeded the same period of the previous fiscal year, but operating profit growth was slightly below revenue growth. The statement does not indicate that the risk of lower margins amid revenue growth has been clearly eliminated. - FY2021-Q3MitigatedAnnual report
「As a result, for the nine-month period of the fiscal year, revenue was ¥21,228 million, up 3.1% year on year, operating profit was ¥1,738 million, up 23.1%, ordinary profit was ¥1,804 million, up 19.5%, and net income attributable to owners of the parent was ¥1,090 million, up 16.9%.」
Operating profit, ordinary profit and profit attributable to owners of the parent grew faster than revenue, which increased 3.1%, with the decline in margins amid revenue growth continuing to ease. - FY2021-Q2MitigatedAnnual report
「As a result, for the six-month period of the fiscal year, revenue was ¥14,106 million, up 3.5% year on year, operating profit was ¥1,075 million, up 17.0%, ordinary profit was ¥1,105 million, up 11.8%, and net income attributable to owners of the parent was ¥647 million, up 5.1%.」
Operating profit increased 17.0%, faster than the 3.5% increase in revenue, and the decline in margins amid revenue growth continued to ease company-wide. - FY2021-Q1MitigatedAnnual report
「As a result, for the first quarter of the fiscal year, revenue was ¥6,966 million, up 5.6% year on year, operating profit was ¥519 million, up 35.9%, ordinary profit was ¥538 million, up 30.2%, and net income attributable to owners of the parent was ¥315 million, up 28.5%.」
Operating profit increased 35.9%, faster than the 5.6% increase in revenue, and the decline in margins amid revenue growth continued to ease company-wide. - FY2020-Q3MitigatedAnnual report
「For the nine-month period of the fiscal year, revenue was ¥20,583 million, up 17.3% year on year, operating profit was ¥1,412 million, up 21.0%, ordinary profit was ¥1,509 million, up 26.6%, and net income attributable to owners of the parent was ¥932 million, up 25.8%.」
Operating profit, ordinary profit and profit attributable to owners of the parent grew faster than revenue, which increased 17.3%, with the decline in margins amid revenue growth continuing to ease. - FY2020-Q2MitigatedAnnual report
「As a result, for the six-month period of the fiscal year, revenue was ¥13,624 million, up 18.3% year on year, operating profit was ¥919 million, up 26.1%, ordinary profit was ¥988 million, up 33.5%, and net income attributable to owners of the parent was ¥616 million, up 33.6%.」
Operating profit, ordinary profit and profit attributable to owners of the parent grew faster than revenue, which increased 18.3%, with the risk of lower margins amid revenue growth continuing to ease. - FY2020-Q1MitigatedAnnual report
「For the first quarter of the fiscal year, revenue was ¥6,595 million, up 22.5% year on year, operating profit was ¥382 million, up 105.8%, ordinary profit was ¥413 million, up 98.3%, and net income attributable to owners of the parent was ¥245 million, up 135.3%.」
Operating profit, ordinary profit and profit attributable to owners of the parent increased faster than revenue, with the risk of lower margins amid revenue growth continuing to ease. - FY2019MitigatedAnnual report
「As a result, for the fiscal year, revenue was ¥24,819 million, up 5.6% year on year, operating profit was ¥1,723 million, up 48.6%, ordinary profit was ¥1,653 million, up 45.6%, and net income attributable to owners of the parent was ¥994 million, up 35.6%.」
Operating profit, ordinary profit and profit attributable to owners of the parent increased faster than revenue, easing the decline in margins amid revenue growth for the full fiscal year. - FY2019-Q3MitigatedAnnual report
「For the nine-month period of the fiscal year, revenue was ¥17,553 million, up 3.4% year on year, operating profit was ¥1,167 million, up 45.8%, ordinary profit was ¥1,192 million, up 53.2%, and net income attributable to owners of the parent was ¥741 million, up 40.0%.」
Against revenue growth of 3.4%, operating profit rose 45.8%, ordinary profit rose 53.2% and profit attributable to owners of the parent rose 40.0%, with the decline in margins amid revenue growth continuing to ease. - FY2019-Q2MitigatedAnnual report
「For the six-month period of the fiscal year, revenue was ¥11,513 million, up 1.7% year on year, operating profit was ¥729 million, up 26.9%, ordinary profit was ¥740 million, up 38.8%, and net income attributable to owners of the parent was ¥461 million, up 20.0%.」
While revenue increased only 1.7%, operating profit rose 26.9%, ordinary profit rose 38.8% and profit attributable to owners of the parent rose 20.0%, further easing the risk of lower margins amid revenue growth. - FY2019-Q1MitigatedAnnual report
「For the first quarter of the fiscal year, revenue was ¥5,383 million, up 0.1% year on year, operating profit was ¥186 million, up 48.6%, ordinary profit was ¥208 million, up 134.3%, and net income attributable to owners of the parent was ¥104 million, up 141.6%.」
While revenue increased only 0.1% year on year, operating profit rose 48.6%, ordinary profit rose 134.3% and profit attributable to owners of the parent rose 141.6%. The deterioration in profitability amid revenue growth eased again in the quarter. - FY2018MitigatedAnnual report
「Revenue was ¥23,509 million, up 2.1% year on year, operating profit was ¥1,159 million, up 41.9%, ordinary profit was ¥1,135 million, up 51.2%, and net income attributable to owners of the parent was ¥733 million, up 66.7%.」
Operating profit, ordinary profit and profit attributable to owners of the parent all increased substantially in addition to higher revenue, clearly easing the decline in margins amid revenue growth for the full fiscal year. - FY2018-Q3MitigatedAnnual report
「As a result, for the nine-month period of the fiscal year, revenue was ¥16,978 million, up 5.7% year on year, operating profit was ¥800 million, compared with ¥38 million in the same period of the previous fiscal year, ordinary profit was ¥778 million, compared with ¥49 million, and net income attributable to owners of the parent was ¥529 million, compared with ¥45 million.」
As revenue increased 5.7%, operating profit, ordinary profit and profit attributable to owners of the parent all substantially exceeded the same period of the previous fiscal year. The deterioration in profitability amid revenue growth clearly eased in the quarter. - FY2018-Q2MitigatedAnnual report
「As a result, for the six-month period of the fiscal year, revenue was ¥11,316 million, up 6.6% year on year, operating profit was ¥574 million, compared with an operating loss of ¥29 million in the same period of the previous fiscal year, ordinary profit was ¥534 million, compared with an ordinary loss of ¥35 million, and net income attributable to owners of the parent was ¥384 million, compared with a net loss attributable to owners of the parent of ¥6 million.」
As revenue increased 6.6%, operating profit, ordinary profit and profit attributable to owners of the parent all turned from losses in the same period of the previous fiscal year to profits. The deterioration in profitability amid revenue growth clearly eased in the quarter. - FY2018-Q1MitigatedAnnual report
「As a result, for the first quarter of the fiscal year, revenue was ¥5,378 million, up 7.2% year on year, operating profit was ¥125 million, compared with an operating loss of ¥224 million in the same period of the previous fiscal year, ordinary profit was ¥89 million, compared with an ordinary loss of ¥245 million, and net income attributable to owners of the parent was ¥43 million, compared with a net loss attributable to owners of the parent of ¥139 million.」
As revenue increased 7.2% year on year, operating profit, ordinary profit and profit attributable to owners of the parent all turned from losses in the same period of the previous fiscal year to profits. The deterioration in profitability amid revenue growth eased in the quarter. - FY2017WorsenedAnnual report
「Revenue was ¥23,016 million, up 12.1% year on year, operating profit was ¥817 million, down 8.3%, ordinary profit was ¥751 million, down 18.2%, and net income attributable to owners of the parent was ¥440 million, down 20.2%.」
Revenue increased 12.1%, while operating profit, ordinary profit and profit attributable to owners of the parent all declined, indicating lower profitability amid revenue growth on a full-year basis as well. - FY2017-Q3WorsenedAnnual report
「As a result, for the nine-month period of the fiscal year, revenue was ¥16,059 million, up 11.6% year on year, operating profit was ¥38 million, down 89.6%, ordinary profit was ¥49 million, down 87.7%, and net income attributable to owners of the parent was ¥45 million, down 82.5%.」
Although revenue increased 11.6%, operating profit declined 89.6% year on year and ordinary profit declined 87.7%, with the deterioration in profitability amid revenue growth continuing. - FY2017-Q2WorsenedAnnual report
「As a result, for the six-month period of the fiscal year, revenue was ¥10,611 million, up 11.9% year on year, operating loss was ¥29 million, compared with operating profit of ¥243 million in the same period of the previous fiscal year, ordinary loss was ¥35 million, compared with ordinary profit of ¥252 million, and net loss attributable to owners of the parent was ¥6 million, compared with net income attributable to owners of the parent of ¥169 million.」
Although revenue increased 11.9%, operating profit, ordinary profit and profit attributable to owners of the parent all turned into losses, indicating a deeper deterioration in profitability amid revenue growth. - FY2017-Q1WorsenedAnnual report
「As a result, for the first quarter of the fiscal year, revenue was ¥5,018 million, up 10.1% year on year, operating loss was ¥224 million, compared with operating profit of ¥22 million in the same period of the previous fiscal year, and ordinary loss was ¥245 million, compared with ordinary profit of ¥42 million in the same period of the previous fiscal year.」
Revenue increased, but the company swung from operating profit and ordinary profit to operating loss and ordinary loss, indicating a deeper deterioration in profitability amid revenue growth than in the previous fiscal year. - FY2016MaterialisedAnnual report
「Revenue of ¥20,540 million, up 12.0% year on year, and operating profit of ¥891 million, down 14.7%.」
Revenue increased, but operating profit and margins declined because of higher outsourcing costs, initial costs for BPO projects and unprofitable projects.