Seasonality of advertising demand and concentration of earnings in the second half
First written in FY2023. 2 of 4 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2025: 2 of 8 companies on the "Worse" side.
6 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「Advertising demand associated with the year-end shopping season in the third quarter from October to December and advertising demand at the start of the year in January comprise many high-margin projects」
It continues to address the seasonality of the advertising business, with business performance weighted toward the second half due to the year-end shopping season, advertising at the start of the year, fiscal year-end advertising and government-agency projects, through order forecasting and weekly progress management. - FY2024RestatedAnnual report
「At monthly management meetings, the group reviews order forecasts for the next 3 months for the company and its subsidiaries and works to monitor progress weekly in order to formulate subsequent measures. However, if the previously mentioned economic stagnation and deterioration in economic conditions result in a divergence from order forecasts, particularly from the third quarter onward, this may affect the group’s financial position and business performance.」
It continues to cite the concentration of business performance in the second half of the year as a major risk and presents reviews of order forecasts for the next 3 months and weekly progress monitoring as countermeasures. - FY2024-Q2MaterialisedAnnual report
「Combined with the business characteristic of earnings being concentrated in the third and fourth quarters, seasonality was reflected in actual results as a factor behind the increases in operating loss of ¥107 million (loss of ¥58 million in the same period of the previous year), ordinary loss of ¥96 million (loss of ¥49 million in the same period of the previous year), and quarterly net loss attributable to owners of the parent of ¥77 million (loss of ¥39 million in the same period of the previous year).」
Seasonality, with earnings concentrated in the third and fourth quarters, coincided with increases in operating expenses and new-business expenses and was reflected in actual results as a factor behind the expansion of operating loss, ordinary loss and net loss for the cumulative second quarter of the fiscal year under review. - FY2023First statedAnnual report
「Advertising demand associated with the year-end shopping season in the third quarter from October to December and advertising demand at the start of the year in January comprise many high-margin projects. In addition, advertising activities at the fiscal year-end of companies with March year-ends and the recognition of revenue from projects commissioned by government agencies overlap toward the March year-end, resulting in the group’s business performance being weighted toward the second half of the year.」
Because the year-end shopping season, January demand at the start of the year, and fiscal year-end advertising activities and government-agency projects overlap, the seasonality of business performance being weighted toward the second half was identified independently as a major risk for the first time.