Rising Labor Costs Due to Minimum Wage Increases and Other Factors
First written in FY2020-Q1. 12 of 20 entries say "Materialised", first in FY2020-Q2. Latest entry: 2026-08-10.
Makiya moved to the "Worse" side of this theme in 2019, 5 years before the typical company in this theme (2024).
The whole theme swung hardest in 2023: 7 of 11 companies on the "Worse" side.
7 other companies' latest entry also says "Materialised".
- 2026-08-10MaterialisedEarnings presentation
「2. Personnel expenses: increase due to wage increases and other factors」
Personnel expenses increased 4.7% year on year, with higher costs from wage increases and other factors recorded in the first quarter. - FY2026MaterialisedAnnual report
「In the spring labor-management negotiations for the current consolidated fiscal year, the company offered the full amount requested by the labor union and agreed to implement average wage increases of 6.5% for permanent employees and 6.6% for part-time employees.」
The increase in labor costs from wage hikes materialized, with average wage increases of 6.5% for full-time employees and 6.6% for part-time employees. - FY2026-H1MaterialisedAnnual report
「Operating profit declined to ¥1,168 million, down 0.3% year on year. This was due to higher selling, general and administrative expenses resulting from increased labor costs following wage increases, higher utility expenses due to increased electricity unit prices, and fees and taxes and dues incurred in connection with the purchase of previously leased land and buildings, among other factors.」
The company states that higher labor costs due to wage increases actually occurred in the current interim period and contributed to the decline in operating profit in the retail business. - FY2025MaterialisedAnnual report
「Following the substantial increase in starting salaries in the previous consolidated fiscal year and wage increases of 6.9% for permanent employees and 6.8% for part-time employees, the company has worked across the organization to improve productivity so that it can continue to improve wages.」
While labor costs continued to rise following the previous year's wage improvements, the company has worked to absorb the increase through productivity improvements. - FY2025-H1MaterialisedAnnual report
「Although labor costs increased due to base-pay increases and other factors, and utility expenses increased because of higher electricity unit prices,」
Higher labor costs due to base-pay increases and other factors actually occurred in the current interim period and became a factor weighing on profit. - FY2024MaterialisedAnnual report
「In the 2024 spring labor-management negotiations, the company carefully considered the impact on daily life of lower disposable income due to soaring prices and other factors, and reached a labor-management agreement exceeding the full amount requested by the labor union. The agreement included a substantial 20.1% increase in starting salaries and an average monthly increase of 6.9% per permanent employee.」
In response to higher prices and lower disposable income, the company raised wages, reaching an agreement that included a 20.1% increase in starting salaries and an average 6.9% increase in monthly wages per permanent employee. - FY2024-Q3Improved expense ratio despite higher labor costsAnnual report
「This was due to an increase in gross profit accompanying higher sales and, despite higher labor costs due to base-pay increases and other factors, an improvement in productivity through "work process reforms" and lower utility expenses resulting from electricity consumption reduction measures and lower electricity unit prices under the government's measures to mitigate sudden fluctuations, among other factors, which improved the expense ratio by 0.9%.」
While labor costs continued to increase due to base-pay increases and other factors, the expense ratio improved by 0.9% because of work process reforms and lower utility expenses. - FY2024-Q2MaterialisedAnnual report
「Although labor costs increased due to base-pay increases and other factors, the expense ratio improved by 1.0% because productivity rose through "work process reforms" and utility expenses declined as a result of electricity consumption reduction measures and lower electricity unit prices under the government's measures to mitigate sudden fluctuations, among other factors.」
The company states that labor costs actually increased due to base-pay increases and other factors, while the expense ratio improved by 1.0% because of work process reforms and lower utility expenses. - FY2023RestatedAnnual report
「The business environment remains challenging, including "higher labor costs" due to labor shortages and minimum wage increases, and "higher store operating costs" due to a substantial rise in energy prices, including utilities.」
Higher labor costs and increased store operating costs continue to be cited as factors contributing to the challenging business environment. - FY2023-Q2RestatedAnnual report
「"Higher labor costs" due to labor shortages and minimum wage increases」
Higher labor costs due to minimum wage increases and other factors continue to be listed as a risk in the retail business environment. - FY2023-Q1RestatedAnnual report
「"Higher labor costs" due to labor shortages and minimum wage increases」
Higher labor costs due to minimum wage increases and other factors continue to be listed as a risk in the retail business environment. - FY2022-Q2RestatedAnnual report
「The business environment remains challenging, including "higher labor costs" due to labor shortages and minimum wage increases.」
Higher labor costs due to labor shortages and minimum wage increases continue to be listed as a risk in the retail business environment. - FY2022-Q1RestatedAnnual report
「The business environment remains challenging, including "higher labor costs" due to labor shortages and minimum wage increases.」
Higher labor costs due to minimum wage increases and other factors continue to be listed as an environmental risk in the current quarter. - FY2021RestatedAnnual report
「The business environment remains challenging, including "higher labor costs" due to labor shortages and minimum wage increases.」
Higher labor costs due to minimum wage increases and other factors continue to be listed as an environmental risk, but no specific impact on profit for the year is indicated. - FY2020MaterialisedAnnual report
「This was mainly due to a lower gross profit margin resulting from the increased sales mix of the Food division, as well as a higher expense ratio due to higher labor costs.」
The company explicitly identifies the higher expense ratio resulting from higher labor costs as a factor behind the decline in the annual ordinary profit margin. - FY2020-Q3MaterialisedAnnual report
「Operating profit was ¥788 million, down 13.3% year on year. Although gross profit increased as a result of higher net sales, selling, general and administrative expenses increased due to temporary expenses associated with new-store openings and renovations and higher personnel costs resulting from the minimum wage increase and other factors.」
Higher labor costs for temporary employees due to minimum wage increases and other factors continued to occur, together with one-time expenses for new store openings and renovations, contributing to higher selling, general and administrative expenses and lower operating profit. - FY2020-Q2MaterialisedAnnual report
「This was due to an increase in selling, general and administrative expenses, despite higher gross profit from increased sales, because of one-time expenses associated with new store openings and renovations and higher labor costs for temporary employees due to minimum wage increases and other factors, among other factors.」
Higher labor costs for temporary employees due to minimum wage increases and other factors again actually occurred, together with one-time expenses for store openings and renovations, contributing to higher selling, general and administrative expenses and lower operating profit. - FY2020-Q1First statedAnnual report
「This was due mainly to an increase in selling, general and administrative expenses resulting from higher labor costs due to minimum wage increases and other factors, as well as one-time opening expenses incurred for new stores, among other factors.」
The company states that higher labor costs due to minimum wage increases and other factors actually occurred in the first quarter and contributed to the increase in selling, general and administrative expenses.