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Merf (3168) · RiskMajor sales concentrated at Nakashima Propeller

Concentration of Sales to Sumitomo Metal Mining Co.,Ltd.

First written in FY2016. 3 of 8 entries say "Mitigated", first in FY2018. Latest entry: FY2025.

8entries
10years
0from disclosures
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How it moved
ProgressHeldSoftenedWorseFirst statedFY2016MitigatedFY20182016: 12017: 020172018: 120182019: 020192020: 120202021: 120212022: 120222023: 120232024: 120242025: 12025
Same theme, other companies
Dependence on Specific Customers for RevenueA theme 92 companies write about · 92 as a headwind · 0 as a tailwind

The whole theme swung hardest in 2025: 22 of 69 companies on the "Worse" side.

27 other companies' latest entry also says "Other".

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 92 companies compared. The sentences above are computed from all 92.
Full recordFilings, disclosures and news, newest first
  1. FY2025Major sales concentrated at Nakashima PropellerAnnual report

    「For the fiscal year ended August 2025, sales to Nakashima Propeller accounted for 10.8% of the Group's revenue.」

    The ratio of sales to Nakashima Propeller increased from 10.1% in the previous fiscal year to 10.8%, while Sumitomo Metal Mining Co.,Ltd. fell below 10% and was no longer listed as a major customer.
  2. FY2024MitigatedAnnual report

    「For the fiscal year ended August 2024, sales to Nakashima Propeller accounted for 10.1% of the Group's revenue, while sales to Sumitomo Metal Mining Co.,Ltd. accounted for 10.0%.」

    The ratio of sales to Sumitomo Metal Mining Co.,Ltd. declined from 20.5% in the previous fiscal year to 10.0%. Nakashima Propeller was newly identified as a major customer, accounting for 10.1%, indicating that sales concentration had shifted from a single customer to a more diversified base.
  3. FY2023WorsenedAnnual report

    「For the fiscal year ended August 2023, sales to Sumitomo Metal Mining Co.,Ltd. accounted for 20.5% of the Group's revenue.」

    The ratio of sales to Sumitomo Metal Mining Co.,Ltd. increased from 18.7% in the previous fiscal year to 20.5%. JX Advanced Metals Corporation was also listed as a major customer, accounting for 11.5% of revenue.
  4. FY2022MitigatedAnnual report

    「For the fiscal year ended August 2022, sales to Sumitomo Metal Mining Co.,Ltd. accounted for 18.7% of the Group's revenue.」

    The ratio of sales to Sumitomo Metal Mining Co.,Ltd. declined from 22.8% in the previous fiscal year to 18.7%, reducing the concentration of sales among specific customers.
  5. FY2021WorsenedAnnual report

    「For the fiscal year ended August 2021, sales to Sumitomo Metal Mining Co.,Ltd. accounted for 22.8% of the Group's revenue.」

    The ratio of sales to Sumitomo Metal Mining Co.,Ltd. increased from 19.7% in the previous fiscal year to 22.8%, raising the concentration of sales among specific customers.
  6. FY2020Major customers expanded to 2 companiesAnnual report

    「For the fiscal year ended August 2020, sales to Sumitomo Metal Mining Co.,Ltd. accounted for 19.7% of the Group's revenue.」

    The ratio of sales to Sumitomo Metal Mining Co.,Ltd. was broadly unchanged at 19.7%, compared with 19.6%. JX Advanced Metals Corporation was also listed as a major customer, accounting for 10.0% of revenue.
  7. FY2018MitigatedAnnual report

    「For the fiscal year ended August 2018, sales to Sumitomo Metal Mining Co.,Ltd. accounted for 19.6% of the Group's revenue.」

    Although sales remain concentrated at Sumitomo Metal Mining Co.,Ltd., the ratio declined from 23.7% in the previous disclosure to 19.6%.
  8. FY2016First statedAnnual report

    「For the fiscal year ended August 2016, sales to Sumitomo Metal Mining Co.,Ltd. accounted for 23.7% of the Group's revenue.」

    The disclosure shows the sales ratio for a specific customer and notes that the termination or modification of the business relationship or contract could affect performance and other matters.
Moved together

"Securing stable profits through product reviews and the use of hedging" moved the same way as this thread, in the same document, in 4 of its 8 moves.

433322★123456
  1. ★This thread
  2. 1Securing stable profits through product reviews and the use of hedging4×
  3. 2Payment of an Interim Dividend3×
  4. 3Securing stable operating cash flow through inventory and trade receivables management3×
  5. 4Maintaining the Current Level of the Art and Craft Business and Securing Stable Long-Term Profits3×
  6. 5Operating, ordinary and net losses despite securing net sales2×
  7. 6Strong demand for gold products and character merchandise2×

★ 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
Merf's next results are scheduled for 2026-10-14. Read the earnings preview
News
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Concentration of Sales to Sumitomo Metal Mining Co.,Ltd. | MERF Inc. (3168) | Komori