Seasonality in Quarterly Performance Due to Concentration of Customer Acceptance Timings
First written in FY2017-Q1. 17 of 20 entries say "Restated". Latest entry: 2026-08-13.
The whole theme swung hardest in 2019: 1 of 8 companies on the "Worse" side.
4 other companies' latest entry also says "Restated".
- 2026-08-13RestatedFinancial results briefing materials
「First-quarter ordinary income progress was 9.6%, in line with the 9.7% average for the past 4 quarters, reflecting a revenue structure weighted toward the second half.」
The first-quarter earnings progress rate was again shown to be in line with the historical average, reflecting a revenue structure weighted toward the second half. - FY2025Remaining risks after income recognition based on progress has evened out resultsAnnual report
「Although customer acceptance of SI development, solutions, services, package products and other items is concentrated in March, which is the fiscal year-end for many companies, quarterly revenue and operating profit have been generally evened out because most orders are recognized based on progress toward satisfaction of performance obligations. However, some orders that are not subject to revenue recognition based on progress continue to show a tendency for results to be concentrated at the fiscal year-end.」
The revenue recognition standard has generally evened out quarterly results, limiting the residual seasonality risk to certain projects not subject to recognition based on progress, rather than the broader seasonality risk that existed previously. - FY2022MitigatedAnnual report
「Although customer acceptance of products and other items is concentrated in March, which is the fiscal year-end for many companies, the application of the Accounting Standard for Revenue Recognition (the “standard”), which began in the current fiscal year, means that revenue is recognized based on progress toward satisfaction of performance obligations. As a result, quarterly revenue and operating profit have tended to be more evenly distributed than before the standard was applied.」
The report states that the previous concentration of quarterly results due to customer acceptance in March has eased following adoption of the new revenue recognition standard, which has evened out revenue and operating profit compared with before adoption. However, the risk of postponed recognition due to extended development schedules and other factors remains. - FY2021RestatedAnnual report
「Customer acceptance of products and other items tends to be concentrated in March, which is the fiscal year-end for many companies. As shown in the table below, revenue and operating profit therefore tend to be concentrated in the fourth quarter. Results may consequently fluctuate if revenue recognition is postponed due to extensions of development schedules, the status of customers’ budget execution or the progress of acceptance inspections for products and other items.」
The concentration of customer acceptance in March, the concentration of revenue and operating profit in the fourth quarter, and the risk of fluctuations in results due to postponed recognition continue to be described in the annual report. - FY2021-Q3RestatedAnnual report
「The characteristics of the group’s software, GAKUEN and systems sales businesses are that customer acceptance tends to be heavily concentrated in March, which is the fiscal year-end for many companies, followed by September, the end of the second quarter. Consequently, the consolidated revenue of the group’s first and third quarters is ordinarily considerably lower than that of the second and fourth quarters.」
The concentration of customer acceptance in March and September and the resulting seasonality of relatively low revenue in the first and third quarters was restated. - FY2021-Q2RestatedAnnual report
「A characteristic of the group’s business is that customer acceptance is primarily concentrated in March, which is the fiscal year-end for many companies, followed by September, the end of the second quarter. Consequently, the consolidated revenue of the group’s first and third quarters is ordinarily considerably lower than that of the second and fourth quarters.」
The seasonality of customer acceptance being concentrated in March and September, with relatively low revenue in the first and third quarters, continues to be restated. - FY2021-Q1RestatedAnnual report
「A characteristic of the group’s business is that customer acceptance is primarily concentrated in March, which is the fiscal year-end for many companies, followed by September, the end of the second quarter. Consequently, the consolidated revenue of the group’s first and third quarters is ordinarily considerably lower than that of the second and fourth quarters.」
The seasonality of customer acceptance being concentrated in March and September, with relatively low revenue in the first and third quarters, was restated. - FY2020RestatedAnnual report
「Customer acceptance of products and other items tends to be concentrated in March, which is the fiscal year-end for many companies. As shown in the table below, revenue and operating profit therefore tend to be concentrated in the fourth quarter. Results may consequently fluctuate if revenue recognition is postponed due to extensions of development schedules, the status of customers’ budget execution or the progress of acceptance inspections for products and other items.」
The concentration of customer acceptance in March, the concentration of revenue in the fourth quarter and the risk of fluctuations in results due to postponed recognition continue to be described. - FY2020-Q2RestatedAnnual report
「The characteristics of the group’s software, GAKUEN and systems sales businesses are that customer acceptance tends to be heavily concentrated in March, which is the fiscal year-end for many companies, followed by September, the end of the second quarter. Consequently, the consolidated revenue of the group’s first and third quarters is ordinarily considerably lower than that of the second and fourth quarters.」
The seasonality of customer acceptance for businesses including GAKUEN being concentrated in March and September, with relatively low revenue in the first and third quarters, was restated. - FY2020-Q1RestatedAnnual report
「A characteristic of the group’s business is that customer acceptance is primarily concentrated in March, which is the fiscal year-end for many companies, followed by September, the end of the second quarter. Consequently, the consolidated revenue of the group’s first and third quarters is ordinarily considerably lower than that of the second and fourth quarters.」
Customer acceptance is concentrated in March, followed by September, resulting in seasonally relatively low revenue in the first and third quarters. This was restated. - FY2019RestatedAnnual report
「Customer acceptance of products and other items tends to be concentrated in March, which is the fiscal year-end for many companies. As shown in the table below, revenue and operating profit therefore tend to be concentrated in the fourth quarter. Results may consequently fluctuate if revenue recognition is postponed due to extensions of development schedules, the status of customers’ budget execution or the progress of acceptance inspections for products and other items.」
The concentration of revenue in the fourth quarter and the risk of postponed recognition due to development schedules, budget execution and acceptance inspections were reaffirmed in the annual report. - FY2019-Q3RestatedAnnual report
「The characteristics of the group’s software, GAKUEN and systems sales businesses are that customer acceptance tends to be heavily concentrated in March, which is the fiscal year-end for many companies, followed by September, the end of the second quarter. Consequently, the consolidated revenue of the group’s first and third quarters is ordinarily considerably lower than that of the second and fourth quarters.」
Even after the name change to GAKUEN, customer acceptance remained concentrated in March and September, and the seasonality of relatively low revenue in the first and third quarters has been restated. - FY2019-Q2RestatedAnnual report
「The characteristics of the group’s software, GAKUEN and systems sales businesses are that customer acceptance tends to be heavily concentrated in March, which is the fiscal year-end for many companies, followed by September, the end of the second quarter. Consequently, the consolidated revenue of the group’s first and third quarters is ordinarily considerably lower than that of the second and fourth quarters.」
Although the business name changed, the concentration of customer acceptance in March and September and the resulting seasonality of relatively low revenue in the first and third quarters continue to be described as before. - FY2018-Q3RestatedAnnual report
「The characteristics of the group’s software, package and systems sales businesses are that customer acceptance tends to be heavily concentrated in March, which is the fiscal year-end for many companies, followed by September, the end of the second quarter. Consequently, the consolidated revenue of the group’s first and third quarters is ordinarily considerably lower than that of the second and fourth quarters.」
The concentration of customer acceptance in March and September and the resulting seasonality of relatively low revenue in the first and third quarters are restated. - FY2018-Q2RestatedAnnual report
「The characteristics of the group’s software, package and systems sales businesses are that customer acceptance tends to be heavily concentrated in March, which is the fiscal year-end for many companies, followed by September, the end of the second quarter. Consequently, the consolidated revenue of the group’s first and third quarters is ordinarily considerably lower than that of the second and fourth quarters.」
The concentration of customer acceptance in March and September and the resulting seasonality of relatively low revenue in the first and third quarters are restated. - FY2018-Q1RestatedAnnual report
「The characteristics of the group’s software, package and systems sales businesses are that customer acceptance tends to be heavily concentrated in March, which is the fiscal year-end for many companies, followed by September, the end of the second quarter. Consequently, the consolidated revenue of the group’s first and third quarters is ordinarily considerably lower than that of the second and fourth quarters.」
The concentration of customer acceptance in March and September and the resulting seasonality of relatively low revenue in the first and third quarters are restated. - FY2017RestatedAnnual report
「A distinctive feature of the group’s contract software development, package and equipment sales businesses is that customer acceptance of products and other items is concentrated in March, which is the fiscal year-end for many companies. As shown in the table below, revenue and operating profit therefore tend to be concentrated in the fourth quarter. Results may consequently fluctuate if revenue recognition is postponed due to extensions of development schedules, the status of customers’ budget execution or the progress of acceptance inspections for products and other items.」
The concentration of customer acceptance in March and the concentration of revenue and operating profit in the fourth quarter were reaffirmed, along with factors that may cause results to fluctuate, such as extended development schedules and postponed acceptance. - FY2017-Q3RestatedAnnual report
「The characteristics of the group’s software, package and systems sales businesses are that customer acceptance tends to be heavily concentrated in March, which is the fiscal year-end for many companies, followed by September, the end of the second quarter. Consequently, the consolidated revenue of the group’s first and third quarters is ordinarily considerably lower than that of the second and fourth quarters.」
The concentration of customer acceptance in March and September and the resulting relatively low revenue in the first and third quarters are restated in the same terms. - FY2017-Q2RestatedAnnual report
「Customer acceptance tends to be heavily concentrated in March, which is the fiscal year-end for many companies, followed by September, the end of the second quarter. Consequently, the consolidated revenue of the group’s first and third quarters is ordinarily considerably lower than that of the second and fourth quarters.」
The concentration of customer acceptance in March and September and the resulting relatively low revenue in the first and third quarters are restated in the same terms. - FY2017-Q1First statedAnnual report
「Customer acceptance tends to be heavily concentrated in March, which is the fiscal year-end for many companies, followed by September, the end of the second quarter. Consequently, the consolidated revenue of the group’s first and third quarters is ordinarily considerably lower than that of the second and fourth quarters.」
Because customer acceptance is concentrated in March and September, revenue in the first and third quarters is structurally relatively low.