Delay in completing the cryptocurrency platform
First written in FY2018-Q1. 3 of 6 entries say "Mitigated", first in FY2018-Q3. Latest entry: FY2019.
Caica Digital moved to the "Worse" side of this theme in 2020, 4 years before the typical company in this theme (2024).
The whole theme swung hardest in 2024: 19 of 45 companies on the "Worse" side.
33 other companies' latest entry also says "Materialised".
- FY2019MaterialisedAnnual report
「At CCCT, a consolidated subsidiary of the Company, part of the development costs for a cryptocurrency exchange system had been capitalized as software under development. As the revenue initially anticipated can no longer be expected, the carrying amount has been reduced to its recoverable amount.」
Although the cryptocurrency exchange system had a track record of external sales, an impairment loss of ¥487 million was recognized on software under development because the initially anticipated revenue was not achieved, and the investment recovery risk materialized. - FY2019-Q3MitigatedAnnual report
「In cryptocurrency-related system development, we are steadily building a track record through maintenance and modification of the cryptocurrency exchanges Zaif and フィスコ仮想通貨取引所, as well as infrastructure development for an external cryptocurrency exchange system ordered in the second quarter.」
The project progressed from the stage at which revenue could not be reflected because of the completion delay to receiving an order for the system for external customers and constructing the infrastructure, with progress toward system delivery described. - FY2019-Q2Progressed to external sales orders and revenue recognitionAnnual report
「We received an order for the external sale of a cryptocurrency exchange system. In the second quarter, revenue recognition will be limited to the requirements definition and part of the development costs, but revenue is expected to be recognized from the third quarter onward.」
The cryptocurrency-related system that could not be reflected in revenue because of the completion delay progressed to receiving an order for an external sales project and recognizing part of the revenue, while the main revenue recognition is expected from the third quarter onward. - FY2018MitigatedAnnual report
「CCCT provided the Fisco Cryptocurrency Exchange with a new cryptocurrency exchange system with enhanced security. Beginning with this delivery, it has started marketing the system for sale to external customers.」
For the cryptocurrency-related system that could not be reflected in revenue because of the completion delay, progress was made through the provision of an enhanced-security version and the start of external sales. - FY2018-Q3MitigatedAnnual report
「CCCT continued to enhance the functions of and design infrastructure for the systems of the Fisco Cryptocurrency Exchange, and provided the exchange with a new cryptocurrency exchange system with enhanced security.」
For the cryptocurrency-related system whose completion was delayed beyond expectations and could not be reflected in revenue, progress was made through the provision of a new system with enhanced security, advancing the response to the delay risk. - FY2018-Q1MaterialisedAnnual report
「During the cumulative first quarter, completion of systems for cryptocurrency exchanges, including a decentralized payment system making advanced use of blockchain, was delayed beyond expectations, and the resulting revenue could not be recognized.」
Completion of the cryptocurrency platform-related systems was delayed beyond expectations, and an event occurred in which the systems could not be reflected in first-quarter revenue.