Komori
Belc (9974) · RiskWorsened

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.

7entries
3years
2from disclosures
Share on X
How it moved
ProgressHeldSoftenedWorseRestatedFY2025-Q1 – FY2026-H1Worsened2026-07-10 – FY2027-H12024: 220242025: 120252026: 42026
Same theme, other companies
Higher Personnel Expenses Expand SG&A and Squeeze Operating ProfitA theme 26 companies write about · 26 as a headwind · 0 as a tailwind

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".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Showing 14 of the 26 companies compared. The sentences above are computed from all 26.
Full recordFilings, disclosures and news, newest first
  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. 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.
Moved together

"Global Economic Uncertainty and Economic Slowdown" moved the same way as this thread, in the same document, in 3 of its 7 moves.

33222★12345
  1. ★This thread
  2. 1Global Economic Uncertainty and Economic Slowdown3×
  3. 2Higher Transportation and Procurement Costs Due to Rising Crude Oil and Raw Material Prices3×
  4. 3Slowing Personal Consumption and Consumers’ Cost-Consciousness2×
  5. 4Intensifying Competition Across Industries and Business Formats2×
  6. 5Natural Disaster Risks to Store Facilities2×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

When this could move next
No upcoming earnings preview for Belc yet. It last moved in the Earnings of 2026-10-09: "Worsened".
News
No news is linked to this thread yet. When an article touches it, it will appear here by date.