Q1-Concentrated Seasonality of the Hometown Tax Donation Platform
First written in FY2021-Q3. 2 of 4 entries say "Reframed", first in FY2022-Q3. Latest entry: FY2026-H1.
CHANGE Holdings moved to the "Worse" side of this theme in 2022.
The whole theme swung hardest in 2022: 1 of 6 companies on the "Worse" side.
1 other company's latest entry also says "Reframed".
- FY2026-H1ReframedAnnual report
「The Group operates a platform business for hometown tax donations. As donation applications are concentrated from October to December, revenue in the second half is normally higher than revenue in the first half.」
The seasonality of hometown tax donations has been recast as donation applications being concentrated from October to December and revenue tending to be higher in the second half than in the first half. - FY2022-Q3ReframedAnnual report
「The Group operates a platform business for hometown tax donations. As donation applications are concentrated in the third quarter from October to December, which was the first quarter in the previous consolidated fiscal year, revenue from the third-quarter consolidated accounting period is normally higher than revenue from the other quarterly consolidated accounting periods.」
Following the change in the fiscal year-end, the seasonal concentration of donation applications has been recast as occurring in the third quarter of the current consolidated fiscal year, rather than the first quarter of the previous consolidated fiscal year. - FY2021RestatedAnnual report
「The Group operates a platform business for hometown tax donations. As donation applications are concentrated in the first quarter, revenue from the first-quarter consolidated accounting period is normally higher than revenue from the other quarterly consolidated accounting periods.」
The first-quarter concentration of seasonal demand for the hometown tax donation platform continues to be described as a structural fact. - FY2021-Q3First statedAnnual report
「The Group operates a platform business for hometown tax donations. As donation applications are concentrated in the first quarter, revenue from the first-quarter consolidated accounting period is normally higher than revenue from the other quarterly consolidated accounting periods.」
The seasonal pattern in the hometown tax donation platform business, whereby donation applications are concentrated in the first quarter and revenue in that quarter is higher than in other quarters, is described as a structural fact.