Seasonality in performance due to the concentration of completed construction project handovers in the fourth quarter
First written in FY2017-Q1. 26 of 27 entries say "Restated". Latest entry: 2026-07-31.
The whole theme swung hardest in 2025: 6 of 20 companies on the "Worse" side.
24 other companies' latest entry also says "Restated".
- 2026-07-31RestatedEarnings
「Because, under its contracts, the Group completes and delivers a greater proportion of construction work in the fourth quarter than in the first, second and third quarters in its principal electrical equipment construction business, revenue from completed construction contracts tends to increase toward the end of the fiscal year, resulting in seasonal fluctuations in operating performance.」
The Company continues to disclose the concentration of construction completions and deliveries in the fourth quarter and the resulting seasonal fluctuations in operating performance. - FY2026-H1RestatedAnnual report
「The Group's sales revenue in its principal business of electrical equipment construction tends to increase toward the fiscal year-end because contracts result in a higher proportion of construction completions and handovers in the second half than in the first half. Earnings are therefore subject to seasonal fluctuations.」
It continues to describe the structural fact that completed electrical equipment construction is handed over and sales are recognized mainly in the second half, resulting in seasonal fluctuations in earnings. - FY2025-H1RestatedAnnual report
「The Group's sales revenue in its principal business of electrical equipment construction tends to increase toward the fiscal year-end because contracts result in a higher proportion of construction completions and handovers in the second half than in the first half. Earnings are therefore subject to seasonal fluctuations.」
It continues to describe the structural fact that completed electrical equipment construction is handed over and sales are recognized mainly in the second half, resulting in seasonal fluctuations in earnings. - FY2024-Q2RestatedAnnual report
「The Group's sales revenue is subject to seasonal fluctuations because, in its principal business of electrical equipment construction, contracts result in a higher proportion of construction completions and handovers in the fourth quarter than in the first, second and third quarters. Accordingly, revenue from completed construction tends to increase in the fourth quarter.」
It continues to describe the structure in which construction completions and handovers are concentrated in the fourth quarter, resulting in seasonal fluctuations in earnings. - FY2023RestatedAnnual report
「Because our earnings are concentrated in the second half and are highly unbalanced, our basic policy is to allocate profits based on the full-year results.」
The company continues to allocate profits based on full-year results, assuming seasonality in which construction completions and handovers and sales recognition are weighted toward the second half. - FY2022-Q3RestatedAnnual report
「The Group's sales revenue is subject to seasonal fluctuations because, in its principal business of electrical equipment construction, contracts result in a higher proportion of construction completions and handovers in the fourth quarter than in the first, second and third quarters. Accordingly, revenue from completed construction tends to increase in the fourth quarter.」
It continues to describe the structure in which construction completions and handovers are concentrated in the fourth quarter, resulting in seasonal fluctuations in revenue from completed construction and earnings. - FY2022-Q2RestatedAnnual report
「The Group's sales revenue is subject to seasonal fluctuations because, in its principal business of electrical equipment construction, contracts result in a higher proportion of construction completions and handovers in the fourth quarter than in the first, second and third quarters. Accordingly, revenue from completed construction tends to increase in the fourth quarter.」
It continues to describe the structure in which construction completions and handovers are concentrated in the fourth quarter, resulting in seasonal fluctuations in revenue from completed construction and earnings. - FY2022-Q1RestatedAnnual report
「The Group's sales revenue is subject to seasonal fluctuations because, in its principal business of electrical equipment construction, contracts result in a higher proportion of construction completions and handovers in the fourth quarter than in the first, second and third quarters. Accordingly, revenue from completed construction tends to increase in the fourth quarter.」
It continues to describe the structure in which construction completions and handovers are concentrated in the fourth quarter, resulting in seasonal fluctuations in earnings. - FY2021RestatedAnnual report
「The Group's sales revenue is subject to seasonal fluctuations because, in its principal business of electrical equipment construction, contracts result in a higher proportion of construction completions and handovers in the fourth quarter than in the first, second and third quarters. Accordingly, revenue from completed construction tends to increase in the fourth quarter.」
It continues to describe the structure in which construction completions and handovers are concentrated in the fourth quarter, resulting in seasonal fluctuations in earnings. - FY2021-Q3RestatedAnnual report
「The Group's sales revenue is subject to seasonal fluctuations because, in its principal business of electrical equipment construction, contracts result in a higher proportion of construction completions and handovers in the fourth quarter than in the first, second and third quarters. Accordingly, revenue from completed construction tends to increase in the fourth quarter.」
It continues to describe the structural fact that construction completions and handovers are concentrated in the fourth quarter, resulting in seasonal fluctuations in revenue from completed construction and earnings. - FY2021-Q2RestatedAnnual report
「The Group's sales revenue is subject to seasonal fluctuations because, in its principal business of electrical equipment construction, contracts result in a higher proportion of construction completions and handovers in the fourth quarter than in the first, second and third quarters. Accordingly, revenue from completed construction tends to increase in the fourth quarter.」
It continues to describe the structural fact that construction completions and handovers are concentrated in the fourth quarter, resulting in seasonal fluctuations in revenue from completed construction and earnings. - FY2021-Q1RestatedAnnual report
「The Group's sales revenue is subject to seasonal fluctuations because, in its principal business of electrical equipment construction, contracts result in a higher proportion of construction completions and handovers in the fourth quarter than in the first, second and third quarters. Accordingly, revenue from completed construction tends to increase in the fourth quarter.」
It continues to describe the structural fact that construction completions and handovers are concentrated in the fourth quarter, resulting in seasonal fluctuations in revenue from completed construction and earnings. - FY2020RestatedAnnual report
「Because our earnings are concentrated in the second half and are highly unbalanced, our basic policy is to allocate profits based on the full-year results.」
The company continues to allocate profits based on full-year results, assuming seasonality in which completed electrical equipment construction is handed over and sales are recognized mainly in the second half. - FY2020-Q3RestatedAnnual report
「The Group's sales revenue is subject to seasonal fluctuations because, in its principal business of electrical equipment construction, contracts result in a higher proportion of construction completions and handovers in the fourth quarter than in the first, second and third quarters. Accordingly, revenue from completed construction tends to increase in the fourth quarter.」
It continues to describe the structural fact that construction completions and handovers are concentrated in the fourth quarter, resulting in seasonal fluctuations in revenue from completed construction and earnings. - FY2020-Q2RestatedAnnual report
「The Group's sales revenue is subject to seasonal fluctuations because, in its principal business of electrical equipment construction, contracts result in a higher proportion of construction completions and handovers in the fourth quarter than in the first, second and third quarters. Accordingly, revenue from completed construction tends to increase in the fourth quarter.」
It continues to describe the structural fact that construction completions and handovers are concentrated in the fourth quarter, resulting in seasonal fluctuations in revenue from completed construction and earnings. - FY2020-Q1RestatedAnnual report
「The Group's sales revenue is subject to seasonal fluctuations because, in its principal business of electrical equipment construction, contracts result in a higher proportion of construction completions and handovers in the fourth quarter than in the first, second and third quarters. Accordingly, revenue from completed construction tends to increase in the fourth quarter.」
It continues to describe the structural fact that construction completions and handovers are concentrated in the fourth quarter, resulting in seasonal fluctuations in revenue from completed construction and earnings. - FY2019RestatedAnnual report
「The Group's main business, electrical equipment construction, tends to generate a concentration of recorded sales revenue at the fiscal year-end because construction periods are concentrated at the fiscal year-end. As a result, the Group's sales revenue and other figures are weighted toward the second half.」
It continues to describe the seasonality resulting from construction periods and completed construction handovers being concentrated at the fiscal year-end, with sales revenue and other figures weighted toward the second half. - FY2019-Q3RestatedAnnual report
「The Group's sales revenue is subject to seasonal fluctuations because, in its principal business of electrical equipment construction, contracts result in a higher proportion of construction completions and handovers in the fourth quarter than in the first, second and third quarters. Accordingly, revenue from completed construction tends to increase in the fourth quarter.」
It continues to describe the structural fact that construction completions and handovers are concentrated in the fourth quarter, resulting in seasonal fluctuations in revenue from completed construction and earnings. - FY2019-Q2RestatedAnnual report
「The Group's sales revenue is subject to seasonal fluctuations because, in its principal business of electrical equipment construction, contracts result in a higher proportion of construction completions and handovers in the fourth quarter than in the first, second and third quarters. Accordingly, revenue from completed construction tends to increase in the fourth quarter.」
It continues to describe the structural fact that construction completions and handovers are concentrated in the fourth quarter, resulting in seasonal fluctuations in revenue from completed construction and earnings. - FY2019-Q1RestatedAnnual report
「The Group's sales revenue is subject to seasonal fluctuations because, in its principal business of electrical equipment construction, contracts result in a higher proportion of construction completions and handovers in the fourth quarter than in the first, second and third quarters. Accordingly, revenue from completed construction tends to increase in the fourth quarter.」
It continues to describe the structural fact that construction completions and handovers are concentrated in the fourth quarter, resulting in seasonal fluctuations in revenue from completed construction and earnings. - FY2018RestatedAnnual report
「The Group's main business, electrical equipment construction, tends to generate a concentration of recorded sales revenue at the fiscal year-end because construction periods are concentrated at the fiscal year-end. As a result, the Group's sales revenue and other figures are weighted toward the second half.」
It continues to describe the seasonality resulting from construction periods and completed construction handovers being concentrated at the fiscal year-end, with sales revenue and other figures weighted toward the second half. - FY2018-Q3RestatedAnnual report
「The Group's sales revenue is subject to seasonal fluctuations because, in its principal business of electrical equipment construction, contracts result in a higher proportion of construction completions and handovers in the fourth quarter than in the first, second and third quarters. Accordingly, revenue from completed construction tends to increase in the fourth quarter.」
It continues to describe the structural fact that construction completions and handovers are concentrated in the fourth quarter, resulting in seasonal fluctuations in revenue from completed construction and earnings. - FY2018-Q2RestatedAnnual report
「The Group's sales revenue is subject to seasonal fluctuations because, in its principal business of electrical equipment construction, contracts result in a higher proportion of construction completions and handovers in the fourth quarter than in the first, second and third quarters. Accordingly, revenue from completed construction tends to increase in the fourth quarter.」
It continues to describe the structural fact that construction completions and handovers are concentrated in the fourth quarter, resulting in seasonal fluctuations in revenue from completed construction and earnings. - FY2018-Q1RestatedAnnual report
「The Group's sales revenue is subject to seasonal fluctuations because, in its principal business of electrical equipment construction, contracts result in a higher proportion of construction completions and handovers in the fourth quarter than in the first, second and third quarters. Accordingly, revenue from completed construction tends to increase in the fourth quarter.」
It continues to describe the structural fact that construction completions and handovers are concentrated in the fourth quarter, resulting in seasonal fluctuations in revenue from completed construction and earnings. - FY2017-Q3RestatedAnnual report
「The Group's sales revenue is subject to seasonal fluctuations because, in its principal business of electrical equipment construction, contracts result in a higher proportion of construction completions and handovers in the fourth quarter than in the first, second and third quarters. Accordingly, revenue from completed construction tends to increase in the fourth quarter.」
It continues to describe the structural fact that construction completions and handovers are concentrated in the fourth quarter, resulting in seasonal fluctuations in revenue from completed construction and earnings. - FY2017-Q2RestatedAnnual report
「The Group's sales revenue is subject to seasonal fluctuations because, in its principal business of electrical equipment construction, contracts result in a higher proportion of construction completions and handovers in the fourth quarter than in the first, second and third quarters. Accordingly, revenue from completed construction tends to increase in the fourth quarter.」
It continues to describe the structural fact that construction completions and handovers are concentrated in the fourth quarter, resulting in seasonal fluctuations in earnings. - FY2017-Q1First statedAnnual report
「The Group's sales revenue is subject to seasonal fluctuations because, in its principal business of electrical equipment construction, contracts result in a higher proportion of construction completions and handovers in the fourth quarter than in the first, second and third quarters. Accordingly, revenue from completed construction tends to increase in the fourth quarter.」
It describes for the first time the structural fact that completed electrical equipment construction tends to be handed over in the fourth quarter, resulting in seasonal fluctuations in revenue from completed construction and earnings.