Higher Costs and Lower Profit from Rising Wages
First written in FY2025-Q1. 3 of 7 entries say "Worsened", first in 2026-07-10. Latest entry: FY2027-H1.
Belc moved to the "Worse" side of this theme in 2026, 6 years after the typical company in this theme (2020).
The whole theme swung hardest in 2026: 10 of 19 companies on the "Worse" side.
6 other companies' latest entry also says "Worsened".
- FY2027-H1WorsenedAnnual report
「Selling, general and administrative expenses amounted to 24.9% of net sales, an increase of 1.0 percentage point from the same period of the previous year. Although we controlled expenses while achieving higher employee wages, the failure to meet the net sales plan resulted in an SG&A ratio above that of the previous year.」
Although expenses were controlled amid rising wages, the SG&A ratio increased by 1.0 percentage point year on year because net sales fell short of the plan. - FY2026MitigatedAnnual report
「Selling, general and administrative expenses remained in line with the plan, with SG&A expenses as a percentage of net sales at 24.2%, unchanged from the same period of the previous year, as the Company controlled expenses in line with net sales while delivering wage increases for employees.」
The Company states that, although higher costs from wage increases continued, it maintained the SG&A ratio at approximately the previous year’s level and in line with the plan by controlling expenses in line with net sales. - FY2026-H1RestatedAnnual report
「Selling, general and administrative expenses remained in line with the plan, with SG&A expenses as a percentage of net sales at 23.9%, down 0.1 percentage points from the same period of the previous year, as the Company controlled expenses in line with net sales while delivering wage increases for employees.」
The Company states that it delivered wage increases for employees while controlling expenses in line with net sales, and remained on track with its plan. - FY2025-H1RestatedAnnual report
「Net sales remained firm as rigorous price strengthening won customer support, but higher procurement prices for goods and rising wages increased costs, resulting in higher sales but lower profit.」
The Company reconfirms that higher costs from rising procurement prices for goods and wages continued during the interim period and were a factor in higher sales but lower profit. - FY2025-Q1First statedAnnual report
「Net sales remained firm as rigorous price strengthening won customer support, but higher procurement prices for goods and rising wages increased costs, resulting in higher sales but lower profit.」
The Company newly states that higher costs from wage increases actually occurred and were a factor in higher sales but lower profit.