Demand volatility caused by customer inventory adjustments
First written in FY2017-Q1. 10 of 17 entries say "Restated". Latest entry: 2026-05-15.
Hodogaya Chemical moved to the "Worse" side of this theme in 2026, 6 years after the typical company in this theme (2020).
The whole theme swung hardest in 2020: 3 of 6 companies on the "Worse" side.
1 other company's latest entry also says "Worsened".
- FY2024-Q3RestatedAnnual report
「Although exports of some products fell significantly due to inventory adjustments by overseas customers, demand for home-gardening herbicides recovered, and strong demand for golf-course herbicides resulted in a significant increase in revenue.」
While the decline in exports due to inventory adjustments by overseas customers continued, the recovery in demand for home-gardening and golf-course products, along with strong demand, provided an offset. - FY2024-Q2WorsenedAnnual report
「Although exports fell significantly due to inventory adjustments by overseas customers, demand for home-gardening herbicides recovered, and strong demand for herbicides for golf courses and agricultural land resulted in a significant increase in revenue.」
The significant decline in exports due to inventory adjustments by overseas customers was again identified as an actual impact. Meanwhile, the agrochemical business as a whole posted a significant increase in revenue as demand for home gardening, golf courses and agricultural land recovered or remained strong. - FY2023-Q1MitigatedAnnual report
「Demand for herbicides for golf courses and agricultural land and products for insecticide applications remained strong, while herbicides for home gardening posted a revenue decline as stay-at-home demand receded.」
Although a decline in golf-course sales due to customer inventory adjustments had been reported for the full previous fiscal year, demand for golf courses, agricultural land and other applications was described as strong this quarter. Meanwhile, home-gardening products posted a revenue decline as stay-at-home demand receded. - FY2022RestatedAnnual report
「Demand for home-gardening herbicides continued to expand, resulting in higher revenue, but revenue declined because sales of golf-course herbicides decreased due to customer inventory adjustments and other factors.」
The decline in golf-course sales due to customer inventory adjustments has continued as a factor behind the full-year revenue decline in the agrochemical business. - FY2022-Q3RestatedAnnual report
「Revenue declined due to herbicides for golf courses and other products whose sales decreased because of customer inventory adjustments.」
The decline in sales of herbicides for golf courses and other products due to customer inventory adjustments has continued. - FY2022-Q2RestatedAnnual report
「Demand for home-gardening herbicides continued to expand, resulting in higher revenue, while sales to golf courses decreased significantly due to customer inventory adjustments and other factors.」
The significant decline in sales to golf courses due to customer inventory adjustments has continued. - FY2022-Q1WorsenedAnnual report
「Sales to golf courses decreased significantly due to customer inventory adjustments and other factors, while demand for home-gardening herbicides continued to expand, resulting in higher revenue.」
A decline in sales due to customer inventory adjustments was also reported for golf-course products, in addition to the previous impact on products for agricultural land and insecticides. - FY2021-Q3WorsenedAnnual report
「Demand for herbicides for golf courses remained firm, resulting in higher revenue, while sales volumes of products for agricultural land and insecticides decreased due to customer inventory adjustments, resulting in a significant revenue decline.」
The decline in sales volume due to customer inventory adjustments extended from insecticides to products for agricultural land, in addition to the previous impact on insecticides, and was reflected in a significant revenue decline. - FY2021-Q1RestatedAnnual report
「Sales volume of insecticides decreased due to customer inventory adjustments.」
The decline in insecticide sales volume due to customer inventory adjustments continues to be noted. - FY2020-Q3RestatedAnnual report
「No new business or other risks arose during the cumulative third quarter of the current consolidated fiscal year. There were also no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
It is explicitly stated that there have been no significant changes in the existing risk related to customer inventory adjustments. - FY2019RestatedAnnual report
「In addition, herbicides for golf courses and agricultural land and other products posted a significant revenue decline due to customer inventory adjustments.」
Customer inventory adjustments were also identified for the full fiscal year as a factor behind the significant revenue decline in herbicides for golf courses and agricultural land and other products. - FY2019-Q1RestatedAnnual report
「Herbicides for home gardening and other products posted a revenue increase as demand rose, while insecticides posted a revenue decline due to temporary inventory adjustments.」
Temporary inventory adjustments by customers continue to be cited as a factor behind the revenue decline in insecticides. - FY2017-Q3RestatedAnnual report
「Revenue from herbicides for home gardening was roughly on par with the same period of the previous year, while herbicides for golf courses and agricultural land posted a revenue decline due to customer inventory adjustments.」
Customer inventory adjustments continue to be cited as a factor behind the revenue decline in herbicides for golf courses and agricultural land. - FY2017-Q2RestatedAnnual report
「Revenue from herbicides for home gardening was roughly on par with the same period of the previous year, while herbicides for golf courses and agricultural land posted a revenue decline due to customer inventory adjustments.」
Customer inventory adjustments are again cited as a factor behind the revenue decline in herbicides for golf courses and agricultural land. - FY2017-Q1.Annual report
「Herbicides for home gardening, golf courses and agricultural land recorded a significant decline in revenue due to inventory adjustments by customers.」
Customer inventory adjustments are identified as an actual factor behind the decline in revenue in the agro-science business.