Dependence on Sales to Honda Motor Co., Ltd. and Its Affiliates
First written in FY2016. 10 of 32 entries say "Materialised", first in FY2017-Q1. Latest entry: FY2026.
J-Max moved to the "Worse" side of this theme in 2016, 8 years before the typical company in this theme (2024).
The whole theme swung hardest in 2025: 22 of 69 companies on the "Worse" side.
4 other companies' latest entry also says "Softened".
- FY2026SoftenedAnnual report
「Our group depends on HONDA MOTOR CO.,LTD. and its affiliated companies for most of its sales, and sales to them accounted for 49.8% of sales in the consolidated fiscal year under review.」
Dependence on sales to HONDA MOTOR CO.,LTD. and its affiliated companies declined from 60.1% in the previous fiscal year to 49.8%. Sales to Topre Corporation were ¥8,421 million, while sales to automotive battery manufacturers were ¥6,792 million, also indicating diversification of customers. - 2026-05-19SoftenedEarnings presentation
「●Ratio of major customers: HONDA 49.8%」
HONDA accounted for 49.8% of sales to major customers, indicating a lower level of reliance than previously reported for Honda Motor Co., Ltd. and its affiliates. - FY2026-H1MaterialisedAnnual report
「In Japan, costs including fixed costs declined as a result of ongoing cost-reduction initiatives, but revenue and profit both declined due to the significant impact of production cuts by major customers. As a result, revenue was ¥8,845 million, down 7.7% year on year, and ordinary profit was ¥399 million, down 16.9%.」
The company stated that production cuts by major customers actually affected the Japan segment, resulting in a 7.7% decline in revenue and a 16.9% decline in ordinary profit. - FY2024SoftenedAnnual report
「Our group depends on HONDA MOTOR CO.,LTD. and its affiliated companies for most of its sales, and sales to them accounted for 60.1% of sales in the consolidated fiscal year under review. Accordingly, changes in the performance of HONDA MOTOR CO.,LTD. and its affiliated companies may affect our group’s financial position, operating performance and cash flows.」
Dependence on sales to HONDA MOTOR CO.,LTD. and its affiliated companies declined from 66.5% in the previous fiscal year to 60.1%. The company also stated its policy of reducing this dependence by expanding transactions with other automobile manufacturers. - FY2024-Q3MaterialisedAnnual report
「In Guangzhou, the company promoted structural reforms, including workforce optimisation and the consolidation of production facilities, in response to continuing substantial production cuts by major customers. However, revenue and profit both declined due to lower production volumes and the fact that the same quarter of the previous year included the collection of previously unrecovered mould investment costs following the end of mass production of certain vehicle models, among other factors.」
Substantial production cuts by major customers continue to materialise as lower production volumes, revenue and profit in Guangzhou. - FY2024-Q2MaterialisedAnnual report
「At J-MAX, revenue increased due to the recovery in major customers’ production, increased sales of moulds, equipment and other products, and higher product selling prices resulting from surging raw material prices, among other factors. In Guangzhou, the company promoted cost-reduction initiatives, including labour cost reductions through workforce optimisation, but revenue and profit both declined due to the impact of substantial production cuts by major customers, among other factors.」
The recovery in major customers’ production contributed to higher revenue at J-MAX, while substantial production cuts by major customers were a factor behind lower revenue and profit in Guangzhou and Wuhan. Key customers’ production trends continue to affect performance by site in practice. - FY2024-Q1Recovery and cuts in major customers’ production affected performance by site.Annual report
「At J-MAX, sales increased due to the recovery in production at major customers, higher sales of molds and equipment, and higher product selling prices resulting from soaring raw material prices, among other factors.」
The recovery in major customers’ production contributed to higher revenue at J-MAX, while substantial production cuts by major customers were a factor behind lower revenue and profit in Guangzhou and Wuhan. The relationship between major customers’ production trends and performance by site continues. - FY2023-Q3Recovery in major customers’ production contributed to higher revenue.Annual report
「At J-MAX, revenue increased in the parts business due to the recovery in major customers’ production and higher product selling prices resulting from surging raw material prices, among other factors.」
The recovery in major customers’ production was identified as a factor behind higher revenue at J-MAX, continuing to show the relationship between key customers’ production trends and operating performance. - FY2023-Q2Recovery in major customers’ production contributed to higher revenue.Annual report
「At J-MAX, revenue increased in the parts business due to the impact of recovering production by major customers and higher product selling prices resulting from surging raw material prices, among other factors.」
The recovery in major customers’ production was identified as a factor behind higher revenue at J-MAX, continuing to show the relationship between key customers’ production trends and operating performance. - FY2023-Q1MaterialisedAnnual report
「At J-MAX, revenue increased despite the impact of production cuts by major customers, due to higher product selling prices resulting from surging raw material prices and increased sales of moulds, equipment and other products.」
While production cuts by major customers actually affected J-MAX’s performance, the segment generated higher revenue due to increased product selling prices and higher sales of moulds, equipment and other products. - FY2022RaisedAnnual report
「Our group depends on HONDA MOTOR CO.,LTD. and its affiliated companies for most of its sales, and sales to HONDA MOTOR CO.,LTD. and its affiliated companies accounted for 66.5% of sales in the consolidated fiscal year under review. Accordingly, our group’s operating performance is significantly affected by HONDA MOTOR CO.,LTD.’s production trends.」
Dependence on sales to HONDA MOTOR CO.,LTD. and its affiliated companies was quantified at 66.5%, up from 61.1%. The impact of production trends was explicitly stated. - FY2022-Q3MaterialisedAnnual report
「At 丸順, revenue declined due to production cuts by major customers resulting from the semiconductor shortage and lower sales of moulds, equipment and other products.」
The risk associated with dependence on sales to major customers continues to materialise as lower revenue at 丸順 through production cuts by major customers caused by the semiconductor shortage. - FY2022-Q2MaterialisedAnnual report
「At 丸順, the company promoted cost-reduction initiatives, mainly focused on labour costs through workforce optimisation and productivity improvements. However, revenue and profit both declined due to production cuts by major customers and changes in the mix of vehicle models produced, resulting from the semiconductor shortage and parts supply shortages associated with the spread of COVID-19 in Southeast Asia, as well as lower sales of moulds, equipment and other products.」
The risk associated with dependence on sales to major customers materialised as lower revenue and profit at 丸順 through production cuts by major customers caused by shortages of semiconductors and parts. - FY2022-Q1Changes in major customers’ production affected the performance of each site.Annual report
「At 丸順, production of automotive parts for major customers increased, but revenue and profit both declined due to lower sales of moulds, equipment and other products, as well as lower non-operating income resulting from a decrease in dividends received from overseas subsidiaries. In Thailand, revenue declined due to lower production of automotive parts for major customers and lower sales of moulds, equipment and other products, as well as the fact that the same quarter of the previous year included a temporary increase in revenue from the collection of previously unrecovered mould investment costs following the end of mass production of certain vehicle models. In Guangzhou, revenue and profit both increased due to higher production of automotive parts for major customers and increased sales of moulds, equipment and other products as automotive demand recovered from the impact of COVID-19, as well as …」
Production for major customers was a drag on performance at 丸順 and in Thailand, while increased production driven by recovering automotive demand contributed to higher revenue and profit in Guangzhou and Wuhan. - FY2021-Q3RestatedAnnual report
「The group also depends on HONDA MOTOR CO.,LTD., its affiliates and Topre Corporation for most of its sales, and fluctuations in their business performance could affect its financial position, operating results and cash flows.」
Dependence on sales to HONDA MOTOR CO.,LTD., its affiliated companies and Topre Corporation continues to be identified as a risk. Production stoppages and reductions at major customers led to lower revenue at 丸順 and the Thailand operations. - FY2021-Q2RestatedAnnual report
「The group also depends on HONDA MOTOR CO.,LTD., its affiliates and Topre Corporation for most of its sales, and fluctuations in their business performance could affect its financial position, operating results and cash flows.」
The group continues to cite its dependence on HONDA MOTOR CO.,LTD., its affiliates and Topre Corporation for sales as a risk. - FY2021-Q1RestatedAnnual report
「The group also depends on HONDA MOTOR CO.,LTD., its affiliates and Topre Corporation for most of its sales, and fluctuations in their business performance could affect its financial position, operating results and cash flows.」
The group reiterates its dependence on HONDA MOTOR CO.,LTD., its affiliates and Topre Corporation for sales, and the possibility that fluctuations in customers' business performance may have an impact. - FY2020RestatedAnnual report
「The group depends on HONDA MOTOR CO.,LTD. and its affiliates for most of its sales, and sales to HONDA MOTOR CO.,LTD. and its affiliates accounted for 61.1% of sales in the fiscal year under review.」
The group quantifies its dependence on HONDA MOTOR CO.,LTD. and its affiliates at 61.1% and states its policy of seeking to reduce this dependence by expanding business with other automakers. - FY2020-Q3Changes in production by major customers affected site performanceAnnual report
「The group also depends on HONDA MOTOR CO.,LTD., its affiliates and Topre Corporation for most of its sales, and fluctuations in their business performance could affect its financial position, operating results and cash flows. / In Thailand, sales decreased because production of automotive parts for major customers declined in the parts business.」
The group reiterates its dependence on major customers and states that lower production for major customers actually affected the decline in sales in Thailand. - FY2020-Q2Changes in production by major customers affected site performanceAnnual report
「The group also depends on HONDA MOTOR CO.,LTD., its affiliates and Topre Corporation for most of its sales, and fluctuations in their business performance could affect its financial position, operating results and cash flows. / At 丸順, sales increased due to higher production of automotive parts for major customers in the parts business and higher sales of dedicated equipment in the engineering business. / In Thailand, sales decreased because production of automotive parts for major customers declined in the parts business, despite higher sales of dedicated equipment in the engineering business.」
The group reiterates its dependence on major customers and states that changes in production for major customers had different effects on sales at 丸順 and in Thailand. - FY2020-Q1ReframedAnnual report
「The group also depends on HONDA MOTOR CO.,LTD., its affiliates and Topre Corporation for most of its sales, and fluctuations in their business performance could affect its financial position, operating results and cash flows.」
In addition to the previously stated dependence on HONDA MOTOR CO.,LTD. and its affiliates, the group explicitly identifies dependence on Topre Corporation for sales, changing the scope of the disclosure on dependence on major customers. - FY2019-Q3Increases and decreases in production by major customers affected site performanceAnnual report
「At 丸順, sales increased due to higher production of automotive parts for major customers and higher sales of dedicated equipment in the engineering business. / At Wuhan, sales increased due to higher production by major customers.」
Higher production by major customers contributed to increased sales at 丸順 and Wuhan. In Guangzhou, meanwhile, lower production by major customers contributed to the decline in local-currency sales. - FY2019-Q2RestatedAnnual report
「The group also depends on HONDA MOTOR CO.,LTD. and its affiliates for most of its sales, and fluctuations in their business performance could affect its financial position, operating results and cash flows.」
The group continues to cite its dependence on HONDA MOTOR CO.,LTD. and its affiliates for sales as a business risk. - FY2019-Q1Higher production by major customers contributed to higher salesAnnual report
「At 丸順, sales increased due to higher production of automotive parts for major customers, despite lower sales of dedicated equipment in the engineering business.」
Regarding dependence on sales to major customers, increased production of automotive parts for major customers contributed to higher sales at 丸順 this quarter. - FY2018-Q3Higher production by major customers contributed to higher sales at multiple sitesAnnual report
「At 丸順, sales increased due to the significant impact of higher production by major customers in the parts business, despite lower sales of dedicated equipment in the engineering business.」
At 丸順, the significant increase in production by major customers contributed to higher sales. At Guangzhou and Wuhan, higher production by major customers is also cited as a factor behind higher sales and profit. - FY2018-Q2Higher production by major customers contributed to higher salesAnnual report
「At 丸順, sales increased due to the significant impact of higher production by major customers in the parts business.」
Regarding dependence on sales to major customers, the significant increase in production by major customers actually contributed to higher sales at 丸順 this quarter. - FY2018-Q1RestatedAnnual report
「The group also depends on HONDA MOTOR CO.,LTD. and its affiliates for most of its sales, and fluctuations in their business performance could affect its financial position, operating results and cash flows.」
The group continues to cite its dependence on HONDA MOTOR CO.,LTD. and its affiliates for sales as a business risk. - FY2017MaterialisedAnnual report
「At 丸順, sales decreased due to lower production volumes of body press parts for major customers, among other factors.」
Lower production volumes for major customers actually contributed to the decline in sales in the 丸順 segment. - FY2017-Q3MaterialisedAnnual report
「Sales decreased due to lower production volumes of automotive parts for major customers, among other factors.」
Lower production volumes for major customers actually contributed to the decline in sales in the 丸順 segment. Sales in the 丸順 segment declined 5.3% year on year. - FY2017-Q2MaterialisedAnnual report
「Sales decreased due to lower production volumes of automotive parts for major customers, among other factors.」
The company states that lower production by major customers actually affected the decline in sales in the 丸順 segment. Sales in the 丸順 segment declined 8.6% year on year. - FY2017-Q1MaterialisedAnnual report
「Sales declined slightly due to lower production volumes of automotive parts for major customers, among other factors.」
The company states that lower production by major customers affected the decline in sales in the 丸順 segment. - FY2016First statedAnnual report
「Because the group depends on HONDA MOTOR CO.,LTD. and its affiliates for most of its sales, fluctuations in their business performance could affect the group's financial position, operating results and cash flows.」
HONDA MOTOR CO.,LTD. is the group's main customer, and its business relationships, including those with affiliates, form the foundation of the business.