Shift in Project Delivery Timing Between Fiscal Years
First written in FY2018. 1 of 3 entries say "Restated". Latest entry: FY2025.
TerraSky moved to the "Worse" side of this theme in 2025, 1 year after the typical company in this theme (2024).
The whole theme swung hardest in 2026: 3 of 11 companies on the "Worse" side.
1 other company's latest entry also says "Reframed".
- FY2025ReframedAnnual report
「Estimated total costs or total labor hours, which form the basis for recognizing revenue based on the percentage of completion, are calculated for each project. Although personnel, progress and budget management are performed for each project, if development hours increase significantly due to unforeseen defects or other factors, resulting in unprofitable projects, the percentage of completion may fluctuate as a result of increased cost of sales, potentially having a material impact on the amounts recognized in the consolidated financial statements for the following consolidated fiscal year.」
Specifies the previously identified risk of project delivery timing slipping into a different fiscal period as the impact on amounts recognized in the following fiscal year from percentage-of-completion revenue recognition and changes in estimated total costs and labor hours. - FY2019RestatedAnnual report
「If the scale or content of an ordered project differs substantially from expectations and the delivery timing changes, revenue and earnings may be recognized in the following quarter or the following consolidated fiscal year instead.」
Reiterates the risk of project delivery timing slipping into a different fiscal period. - FY2018First statedAnnual report
「If the scale or content of an ordered project differs substantially from expectations and the delivery timing changes, revenue and earnings may be recognized in the following quarter or the following consolidated fiscal year instead.」
The company identifies changes in delivery timing due to discrepancies in project scale or content, and revenue recognition shifting across quarters or fiscal years, as risks.