Quarterly Performance Skewed by Work Progress and Acceptance Timing
First written in FY2016. 13 of 17 entries say "Restated". Latest entry: FY2022-Q3.
The whole theme swung hardest in 2018: 4 of 31 companies on the "Worse" side.
34 other companies' latest entry also says "Restated".
- FY2022-Q3RestatedAnnual report
「In the Group's public-sector cloud business, revenue from large-scale telecommunications system construction and system implementation and development projects may be concentrated depending on progress and the timing of acceptance inspections.」
The Group continues to disclose the concentration of revenue in its public-sector cloud business based on construction progress and the timing of acceptance inspections. - FY2022-Q1RestatedAnnual report
「In the Group's public-sector cloud business, revenue from large-scale telecommunications system construction and system implementation and development projects may be concentrated depending on progress and the timing of acceptance inspections.」
The Group continues to disclose the concentration of revenue from large-scale telecommunications system construction and system implementation and development projects based on progress and the timing of acceptance inspections. - FY2021ReframedAnnual report
「The Group regards recurring revenue as an important management indicator, and its scale has increased steadily each fiscal year. However, revenue other than recurring revenue fluctuates from year to year. In particular, demand in the public-sector cloud business changes substantially depending on the content of national and local government budgets, making annual revenue inherently less stable.」
In addition to the existing quarterly concentration caused by construction progress and the timing of acceptance inspections, the disclosure explicitly identifies annual volatility arising from non-recurring revenue and public-sector budgets. - FY2021-Q3ReframedAnnual report
「The Group adjusts implementation timing with customers wherever possible. However, revenue may be concentrated in a particular period due to the status of construction progress and the concentration of projects related to responses to legal and regulatory amendments. Accordingly, it is difficult to assess the Group's full-year earnings outlook based solely on the results of a particular quarter.」
In addition to quarterly concentration caused by construction progress and the timing of acceptance inspections, the disclosure describes project concentration arising from responses to legal and regulatory amendments and efforts to coordinate implementation timing with customers. - FY2021-Q2ReframedAnnual report
「The Group regards recurring revenue as an important management indicator, and its scale has increased steadily each fiscal year. However, revenue other than recurring revenue fluctuates from year to year. In particular, demand in the public-sector cloud business changes substantially depending on the content of national and local government budgets, making annual revenue inherently less stable.」
The scope of the risk has expanded beyond the previously identified quarterly concentration caused by construction progress and the timing of acceptance inspections to include annual earnings volatility arising from non-recurring revenue and public-sector budgets. - FY2020-Q1RestatedAnnual report
「In the Group's IT cloud business, revenue from large-scale telecommunications system construction and system implementation and development projects may be concentrated depending on progress and the timing of acceptance inspections.」
The Group continues to disclose the concentration of revenue from large-scale telecommunications system construction and system implementation and development projects based on progress and the timing of acceptance inspections. - FY2019-Q3RestatedAnnual report
「In the Company's IT cloud business, revenue from large-scale telecommunications system construction and system implementation and development projects may be concentrated depending on construction progress and the timing of acceptance inspections.」
The Company continues to disclose the concentration of revenue from large-scale telecommunications system construction and system implementation and development projects based on progress and the timing of acceptance inspections. - FY2019-Q2RestatedAnnual report
「In the Company's IT cloud business, revenue from large-scale telecommunications system construction and system implementation and development projects may be concentrated depending on construction progress and the timing of acceptance inspections.」
The Company continues to disclose the concentration of revenue from large-scale telecommunications system construction and system implementation and development projects based on progress and the timing of acceptance inspections. - FY2019-Q1RestatedAnnual report
「In the Company's IT cloud business, revenue from large-scale telecommunications system construction and system implementation and development projects may be concentrated depending on construction progress and the timing of acceptance inspections.」
The Company continues to disclose the concentration of revenue from large-scale telecommunications system construction and system implementation and development projects based on progress and the timing of acceptance inspections. - FY2018RestatedAnnual report
「In the Company's IT cloud business, changes in the timing of completion of large-scale telecommunications system construction projects, system operation and acceptance inspections could affect the Company's performance. Revenue may also be concentrated depending on construction progress and the timing of acceptance inspections.」
The Company continues to disclose revenue volatility and quarterly concentration arising from the timing of completion, system operation and acceptance inspections for large-scale telecommunications system construction and system implementation and development projects. - FY2018-Q3RestatedAnnual report
「In the Company's IT cloud business, revenue from large-scale telecommunications system construction and system implementation and development projects may be concentrated depending on construction progress and the timing of acceptance inspections.」
The Company continues to disclose the concentration of revenue from large-scale telecommunications system construction and system implementation and development projects based on progress and the timing of acceptance inspections. - FY2018-Q2RestatedAnnual report
「In the Company's IT cloud business, revenue from large-scale telecommunications system construction and system implementation and development projects may be concentrated depending on construction progress and the timing of acceptance inspections.」
The Company continues to disclose the concentration of revenue from large-scale telecommunications system construction and system implementation and development projects based on progress and the timing of acceptance inspections. - FY2017RestatedAnnual report
「Revenue may be concentrated depending on construction progress and the timing of acceptance inspections. Accordingly, it is difficult to assess the Company's full-year earnings outlook based solely on the results of a particular quarter.」
The Company continues to disclose the concentration of revenue in particular quarters due to construction progress and the timing of acceptance inspections, and the resulting difficulty of assessing the full-year outlook based solely on quarterly results. - FY2017-Q3RestatedAnnual report
「Because the Company's IT cloud business includes contract construction and other activities for which local governments are major customers, delivery deadlines tend to be concentrated in March, the fiscal year-end for local governments. Accordingly, the Company's sales revenue in the first quarter tends to be higher than in the other quarters.」
The Company continues to disclose the seasonality whereby sales revenue in the first quarter tends to exceed that in the other quarters because delivery deadlines are concentrated in March, the fiscal year-end for local governments. - FY2017-Q2RestatedAnnual report
「Because the Company's IT cloud business includes contract construction and other activities for which local governments are major customers, delivery deadlines tend to be concentrated in March, the fiscal year-end for local governments. Accordingly, the Company's sales revenue in the first quarter tends to be higher than in the other quarters.」
The Company continues to disclose the seasonality whereby sales revenue in the first quarter tends to exceed that in the other quarters because delivery deadlines are concentrated in March, the fiscal year-end for local governments. - FY2017-Q1RestatedAnnual report
「Because the Company's IT cloud business includes contract construction and other activities for which local governments are major customers, delivery deadlines tend to be concentrated in March, the fiscal year-end for local governments. Accordingly, the Company's sales revenue in the first quarter tends to be higher than in the other quarters.」
The Company continues to disclose the seasonality whereby sales revenue in the first quarter tends to exceed that in the other quarters because delivery deadlines are concentrated in March, the fiscal year-end for local governments. - FY2016First statedAnnual report
「Because the Company's IT cloud business includes construction of telecommunications systems and related activities, revenue may be concentrated depending on construction progress and the timing of acceptance inspections. Accordingly, it is difficult to assess the Company's full-year earnings outlook based solely on the results of a particular quarter.」
The disclosure describes the concentration of revenue based on construction progress and the timing of acceptance inspections in telecommunications system construction, and states that the full-year outlook is difficult to assess based solely on quarterly results.