Summary of Research Findings

​The sales of 126 companies surveyed added up to 29,203.7 billion yen for FY2022 (up 10.7% from the previous fiscal year; including non-food related sales of the companies surveyed). While the recovery from the COVID-related downfall and the phasal revision of sales prices contributed to the growth, companies with overseas operations enjoyed significant revenue increase in particular, due to achievements in local market development and M&A, fueled by favorable exchange rates.  


Meanwhile, growth rate was rather marginal for gross profit and operating profit, adding up to 8,257.7 billion yen (up 3.6% on year-on-year basis) and 1,503.0 billion yen (up 2.3% on same basis), respectively. Unable to pass on the soaring costs (such as raw material price, energy price, and transportation costs) to selling price, the situation led to a profit decline and weaker growth in profits.

Moreover, both gross profit margin and operating profit margin deteriorated compared to FY2021, with 28.3% (30.2% in FY2021) and 5.1% (5.6% in FY2021), respectively.

Noteworthy Topics

Aggregated Value of Overseas Sales of 39 Companies in FY2022 Grew by 12.3% from Previous Fiscal Year to 21,625.7 Billion Yen

Of the 126 companies surveyed, 39 companies disclosed overseas sales in both FY2021 and FY2022. A total of overseas sales of these companies was 2,1625.7 billion yen, marking a steep rise of 12.3% over the prior fiscal year.

In spite of the influence of exchange rates, quite a few companies (major companies in particular) enjoyed steady sales expansion in major consumption areas such as the U.S. and Europe, covering for their loss in domestic business that has hit a plateau. For many companies, overseas business has become integral part of their growth strategies.

Research Outline