Pressure on Earnings from Falling Copper Prices and Higher SG&A Expenses
First written in FY2017-Q1. 15 of 31 entries say "Restated". Latest entry: FY2026.
Inaba Denkisangyo moved to the "Worse" side of this theme in 2025.
0 other companies' latest entry also says "Materialised".
- FY2026MaterialisedAnnual report
「Regarding the impact of the situation in the Middle East, constraints have arisen in procuring raw materials for some products in the Group’s proprietary products business, making it difficult to guarantee the quantity and timing of supplies.」
Regarding raw material prices and supply chain risks, the company has disclosed that constraints on procuring raw materials for some products have actually arisen due to the situation in the Middle East, making it difficult to guarantee supply quantities and timing. - FY2026-H1ReframedAnnual report
「Selling, general and administrative expenses increased by ¥1,076 million, or 5.5%, year on year to ¥20,585 million. This was mainly due to higher repair expenses associated with maintenance of the company’s facilities and higher system-related expenses.」
The primary factors driving higher SG&A expenses have changed from the previously cited personnel expenses, freight and packing costs, and other items to repair expenses associated with facility maintenance and system-related expenses. - FY2025-H1Personnel expenses and freight and packing costs includedAnnual report
「Selling, general and administrative expenses increased by ¥2,117 million, or 12.2%, year on year to ¥19,509 million. This was mainly due to higher personnel expenses and freight and packing costs.」
SG&A expenses increased 12.2% year on year, with higher freight and packing costs cited as a primary factor in addition to the previously reported increase in personnel expenses. - FY2024Addition of higher system-related expensesAnnual report
「Selling, general and administrative expenses increased by ¥2,048 million, or 6.1%, from the previous consolidated fiscal year to ¥35,730 million. This was mainly due to higher personnel expenses associated with the increase in headcount and other factors, and higher system-related expenses.」
Regarding the full-year increase in SG&A expenses, system-related expenses were cited as a primary factor in addition to the previously reported personnel expenses. - FY2024-Q3RestatedAnnual report
「Selling, general and administrative expenses increased by ¥1,788 million, or 7.2%, year on year to ¥26,577 million. This was mainly due to higher personnel expenses associated with the increase in headcount and other factors, and higher R&D expenses at subsidiaries.」
The company has continued to disclose higher SG&A expenses, driven mainly by personnel expenses associated with the increase in headcount and other factors, and higher R&D expenses at subsidiaries. - FY2024-Q2Addition of higher R&D expenses at subsidiariesAnnual report
「Selling, general and administrative expenses increased by ¥1,073 million, or 6.6%, year on year to ¥17,391 million. This was mainly due to higher personnel expenses associated with the increase in headcount and higher research and development expenses at subsidiaries.」
SG&A expenses increased 6.6% year on year, with higher R&D expenses at subsidiaries cited as a primary factor in addition to the previously reported increase in personnel expenses. - FY2024-Q1RestatedAnnual report
「Selling, general and administrative expenses increased by ¥303 million, or 3.6%, year on year to ¥8,648 million. This was mainly due to higher personnel expenses associated with the increase in headcount and other factors.」
The company has continued to disclose higher SG&A expenses, driven mainly by personnel expenses associated with the increase in headcount and other factors. - FY2023-Q3RestatedAnnual report
「Selling, general and administrative expenses increased by ¥1,550 million, or 6.7%, year on year to ¥24,788 million. This was mainly due to higher personnel expenses associated with the increase in headcount and other factors, and higher rent associated with the relocation of the Tokyo head office.」
The company has continued to disclose higher SG&A expenses, driven mainly by personnel expenses associated with the increase in headcount and other factors, and rent associated with the relocation of the Tokyo head office. - FY2023-Q2RestatedAnnual report
「Selling, general and administrative expenses increased by ¥1,201 million, or 7.9%, year on year to ¥16,317 million. This was mainly due to higher personnel expenses associated with the increase in headcount and other factors, and higher rent associated with the relocation of the Tokyo head office.」
While continuing to revise prices across a broad range of products in response to soaring raw material prices, SG&A expenses increased 7.9% year on year, mainly due to personnel expenses associated with the increase in headcount and other factors, and rent associated with the relocation of the Tokyo head office. - FY2023-Q1Continued price revisions and clarification of the factors driving higher SG&A expensesAnnual report
「In the electrical equipment materials business, selling prices rose for many electrical equipment materials, including electric wires and cables, due to the sharp increase in copper and other prices. Although the business was affected by supply constraints stemming from the semiconductor shortage and other factors, deliveries of disaster prevention equipment, power receiving and distribution equipment, and other products to large-scale projects, including redevelopment in the Tokyo metropolitan area and equipment renewals by manufacturers, resulted in net sales of ¥39,099 million, up 4.3% year on year. Selling, general and administrative expenses increased by ¥733 million, or 9.6%, year on year to ¥8,345 million. This was mainly due to higher personnel expenses, including provisions for bonuses, and higher rent associated with the relocation of the Tokyo head office.」
While price increases for products in response to soaring raw material prices were reported, SG&A expenses increased 9.6% year on year, mainly due to personnel expenses, including provisions for bonuses, and rent associated with the relocation of the Tokyo head office. - FY2022SG&A expenses increase on a full-year basisAnnual report
「Selling, general and administrative expenses increased by ¥3,956 million, or 14.2%, from the previous consolidated fiscal year to ¥31,898 million. This was mainly due to higher personnel expenses, including provisions for performance-linked bonuses.」
The increase in SG&A expenses, driven mainly by personnel expenses, continued for the full year, resulting in a 14.2% year-on-year increase. - FY2022-Q3RestatedAnnual report
「Selling, general and administrative expenses increased by ¥2.319 billion, or 11.1%, year on year, to ¥23.237 billion. This was mainly due to higher personnel expenses resulting from the increase in headcount and the rebound from restrictions on sales activities in the previous period.」
As in the previous quarter, the description refers to higher SG&A expenses, which increased 11.1% year on year in the current quarter, mainly due to higher personnel expenses resulting from the increase in headcount and the rebound from restrictions on sales activities in the previous period. - FY2022-Q2SG&A expense increase recursAnnual report
「Selling, general and administrative expenses increased by ¥1.159 billion, or 8.3%, year on year, to ¥15.116 billion. This was mainly due to higher personnel expenses resulting from the increase in headcount and the rebound from restrictions on sales activities in the previous period.」
While higher selling prices and price revisions resulting from surging copper prices are noted, SG&A expenses increased 8.3% year on year due to the rebound from restrictions on sales activities in the previous fiscal year and higher personnel expenses resulting from the increase in headcount. - FY2022-Q1MitigatedAnnual report
「Revenue from the electrical and construction materials business was ¥37.472 billion, up 6.1% year on year, as deliveries of power distribution and disaster-prevention equipment progressed in line with redevelopment demand in the Tokyo metropolitan area and sales of electrical and construction materials generally increased following the decline in the previous period, while rising copper prices increased the selling prices of electric wires and cables.」
Surging copper prices led to higher selling prices, and revenue from the electrical and construction materials business, including electric wires and cables, increased 6.1% year on year. The description states that the increases in raw-material prices were passed through to selling prices. - FY2021RestatedAnnual report
「The air-conditioning components and other products manufactured and sold by the Company use copper, iron, stainless steel, resins and other materials as raw materials. International price fluctuations in these materials may cause manufacturing costs to fluctuate. If raw-material prices rise by more than initially projected, making it impossible for the Group to absorb the resulting cost increases internally, or if it is unable to pass the increases in raw-material prices through to product prices, this could adversely affect the Group's operating results and financial position.」
The fluctuation of raw-material prices, including iron, stainless steel and resins as well as copper, and the inability to pass price increases through to customers continue to be identified as earnings risks. - FY2021-Q3MitigatedAnnual report
「Selling, general and administrative expenses decreased by ¥1.706 billion, or 7.5%, year on year, to ¥20.918 billion. This was mainly due to lower amortization of goodwill and restrictions on sales activities.」
Unlike the increase in SG&A expenses reported through the previous fiscal year, SG&A expenses decreased 7.5% year on year due to lower amortization of goodwill and restrictions on sales activities. - FY2021-Q2MitigatedAnnual report
「Selling, general and administrative expenses decreased by ¥1.387 billion, or 9.0%, year on year, to ¥13.956 billion. This was mainly due to lower amortization of goodwill and restrictions on sales activities.」
Unlike the previously reported increase in SG&A expenses, SG&A expenses decreased 9.0% year on year in the cumulative second quarter. The impact of falling copper prices is not explicitly stated in this description. - FY2021-Q1MaterialisedAnnual report
「Revenue from the electrical and construction materials business was ¥35.329 billion, down 9.2% year on year, as sales of electrical and construction materials, led by power distribution equipment, declined due to restrictions on sales activities, despite sales related to the Tokyo Olympics, while sales of electric wires and cables fell sharply due to lower copper prices.」
In contrast to the previous increase in selling prices and revenue caused by rising copper prices, the actual results are described as having been affected by a sharp decline in revenue from electric wires and cables due to falling copper prices. - FY2020-Q3RestatedAnnual report
「Selling, general and administrative expenses increased by ¥944 million, or 4.4%, year on year, to ¥22.624 billion. This was mainly due to higher personnel expenses and logistics costs.」
The description continues to identify higher personnel expenses and logistics costs as the reasons for the increase in SG&A expenses. Operating profit, meanwhile, rose 18.1% year on year. - FY2020-Q2RestatedAnnual report
「Selling, general and administrative expenses increased by ¥1.074 billion, or 7.5%, year on year, to ¥15.344 billion. This was mainly due to higher personnel expenses and logistics costs.」
The description continues to identify higher personnel expenses and logistics costs as the reasons for the increase in SG&A expenses. Operating profit, meanwhile, rose 25.4% year on year. - FY2020-Q1ReframedAnnual report
「Selling, general and administrative expenses increased by ¥443 million, or 6.2%, year on year, to ¥7.608 billion. This was mainly due to higher logistics costs and personnel expenses.」
The factors behind the increase in expenses are described specifically as higher logistics costs and personnel expenses, rather than the previous explanation that falling copper prices and higher SG&A expenses led to declines in revenue and profit. Operating profit, meanwhile, increased. - FY2019ReframedAnnual report
「If raw-material prices rise by more than initially projected, making it impossible for the Group to absorb the resulting cost increases internally, or if it is unable to pass the increases in raw-material prices through to product prices, this could adversely affect the Group's operating results and financial position.」
In addition to the impact of copper-price fluctuations on selling prices and earnings, the risks have been organized to include surging prices for raw materials generally, including copper, iron, stainless steel and resins, and the inability to pass those increases through to prices. - FY2019-Q3RestatedAnnual report
「Revenue from the electrical and construction materials business was ¥126.593 billion, up 12.3% year on year, as sales of electric wires and cables increased due to higher selling prices resulting from rising copper prices during the first half, while sales of lighting fixtures and generators remained strong against a backdrop of redevelopment in the Tokyo metropolitan area.」
Rather than lower selling prices caused by falling copper prices, the description continues to identify higher selling prices resulting from rising copper prices as a factor behind increased revenue from electric wires and cables. Selling, general and administrative expenses increased as the number of employees grew, but operating profit also increased. - FY2019-Q2RestatedAnnual report
「Revenue from the electrical and construction materials business was ¥82.630 billion, up 12.2% year on year, as sales of electric wires and cables increased due to higher selling prices resulting from rising copper prices, while sales of lighting fixtures and generators remained strong against a backdrop of redevelopment in the Tokyo metropolitan area.」
Rather than lower selling prices caused by falling copper prices, the description continues to identify higher selling prices resulting from rising copper prices as a factor behind increased revenue. SG&A expenses increased as the number of employees grew, but operating profit also increased. - FY2019-Q1RestatedAnnual report
「Revenue from the electrical and construction materials business was ¥36.234 billion, up 14.8% year on year, as sales of electric wires and cables increased due to higher selling prices resulting from rising copper prices, while sales of lighting fixtures and power distribution equipment remained strong in eastern Japan, supported by redevelopment in the Tokyo metropolitan area.」
Rather than lower selling prices caused by falling copper prices, the description continues to identify higher selling prices resulting from rising copper prices as a factor behind increased revenue. It also states that personnel expenses increased as the number of employees grew. - FY2018-Q3RestatedAnnual report
「Revenue increased as higher copper prices raised the selling prices of electric wires and cables, while sales of air conditioners, lighting fixtures and other products remained firm. As a result, consolidated revenue was ¥112.768 billion, up 4.2% year on year.」
The description continues to identify higher selling prices and increased revenue resulting from rising copper prices as having the opposite impact from the previously reported decline in copper prices. - FY2018-Q2RestatedAnnual report
「Revenue increased as higher copper prices raised the selling prices of electric wires and cables, while sales of air conditioners, power distribution equipment and other products remained firm. As a result, consolidated revenue was ¥73.642 billion, up 5.3% year on year.」
The description continues to identify higher selling prices and increased revenue resulting from rising copper prices as having the opposite impact from the previously reported decline in copper prices. - FY2018-Q1MitigatedAnnual report
「Revenue increased as higher copper prices raised the selling prices of electric wires and cables, while sales of air conditioners and other products remained firm. As a result, consolidated revenue was ¥31.575 billion, up 0.9% year on year.」
In contrast to the previous description of lower selling prices and earnings pressure caused by falling copper prices, rising copper prices are identified as factors behind higher selling prices and increased revenue. - FY2017-Q3RestatedAnnual report
「Against this backdrop, the Group pursued priority measures in line with its medium- to long-term management strategy, but revenue and profit declined due to the impact of lower copper prices and higher SG&A expenses.」
The description continues to state that lower copper prices and higher SG&A expenses were factors behind the declines in revenue and profit. - FY2017-Q2RestatedAnnual report
「Against this backdrop, the Group pursued priority measures in line with its medium- to long-term management strategy, but revenue and profit declined due to the impact of lower copper prices and higher SG&A expenses.」
The description continues to state that lower copper prices and higher SG&A expenses were factors behind the declines in revenue and profit. - FY2017-Q1First statedAnnual report
「Revenue and profit declined due to the impact of lower copper prices and higher SG&A expenses.」
Lower copper prices affected revenue through lower selling prices for electric wires, cables and coated copper pipes, while higher SG&A expenses were also described as a factor behind the decline in profit.