Risk of seasonal fluctuations in results due to concentrated fiscal year-end acceptance inspections
First written in FY2016. 3 of 9 entries say "Restated". Latest entry: FY2025.
The whole theme swung hardest in 2026: 4 of 8 companies on the "Worse" side.
5 other companies' latest entry also says "Restated".
- FY2025RestatedAnnual report
「The company’s quarterly operating profit and ordinary profit tend to be lower in the first quarter than in the other quarters. This is because new employees are assigned from the second quarter onward, and the company expects this trend to continue.」
The company continues to disclose seasonality involving lower first-quarter profit due to the timing of new employee assignments. - FY2024ReframedAnnual report
「The company’s quarterly operating profit and ordinary profit tend to be lower in the first quarter than in the other quarters. This is because new employees are assigned from the second quarter onward, and the company expects this trend to continue.」
The explanation of seasonality changed from fourth-quarter concentration due to year-end customer acceptance to lower first-quarter profit due to the timing of new employee assignments. - FY2022Greater concentration of revenue in the fourth quarterAnnual report
「Revenue Composition (%): 25.5 28.3 53.8 100.0 Operating profit Composition (%): 28.2 36.2 64.4 100.0」
In FY2022, the fourth quarter’s share of revenue rose to 53.8% from 51.8% in the previous fiscal year. Meanwhile, the fourth quarter’s share of operating profit was 64.4%, down from 65.9% in the previous fiscal year. - FY2021Fourth-quarter concentration of operating profit and ordinary profitAnnual report
「Operating profit (¥ million) 218 315 533 432 600 1,033 1,567 Composition (%): 13.9 20.2 34.1 27.6 38.3 65.9 100.0」
In FY2021, the fourth quarter accounted for 51.8% of revenue, 65.9% of operating profit and 66.3% of ordinary profit, indicating that year-end concentration continued. - FY2020RestatedAnnual report
「Fiscal year under review (from 1 April 2019 to 31 March 2020)」
The company continues to disclose seasonal fluctuations caused by the concentration of customer acceptance at the fiscal year-end. The fourth quarter accounted for 53.1% of revenue and 59.2% of operating profit. - FY2019Greater concentration of profit in the fourth quarterAnnual report
「Revenue Fourth quarter 7,501,970 Composition (%): 53.0 Operating profit Fourth quarter 870,244 Composition (%): 67.4」
The fourth quarter’s share of revenue declined from 54.0% in the previous fiscal year to 53.0%, while its share of operating profit rose from 65.7% to 67.4%. - FY2018WorsenedAnnual report
「Revenue Fourth quarter 6,868,096 Composition (%): 54.0 Operating profit Fourth quarter 645,957 Composition (%): 65.7」
As a result of year-end concentration, 54.0% of full-year revenue and 65.7% of operating profit were recognized in the fourth quarter, indicating a higher degree of concentration than in the previous fiscal year. - FY2017RestatedAnnual report
「The company’s quarterly revenue and profit tend to be higher in the fourth quarter than in the other quarters. This is because customers’ requested delivery dates tend to be concentrated at the fiscal year-end, and the company expects this trend to continue.」
The company reconfirmed the seasonality resulting from year-end concentration. In FY2017, the fourth quarter accounted for 52.6% of revenue and 56.5% of operating profit. - FY2016First statedAnnual report
「The company’s quarterly revenue and profit tend to be higher in the fourth quarter than in the other quarters. This is because customers’ requested delivery dates tend to be concentrated at the fiscal year-end, and the company expects this trend to continue.」
The company states that year-end concentration of customer acceptance causes revenue and profit to be weighted toward the fourth quarter, as well as creating a risk of delays in customer acceptance.