Seasonally low profitability and upfront costs in the first quarter
First written in FY2017-Q1. 25 of 26 entries say "Restated". Latest entry: 2026-07-10.
The whole theme swung hardest in 2023: 1 of 7 companies on the "Worse" side.
7 other companies' latest entry also says "Restated".
- FY2025-Q1RestatedAnnual report
「The Group's operating results are subject to seasonal fluctuations because the number of students changes due to graduation and other factors after examinations. Results bottom out in the consolidated first-quarter accounting period, when the new term begins, and rise significantly in the consolidated second- and fourth-quarter accounting periods, when special classes are held. Profitability also tends to be relatively low in the consolidated first-quarter accounting period because fixed costs and strategic investment expenses are incurred upfront.」
Continues to document the seasonality whereby performance bottoms out in the first quarter and rises in the second and fourth quarters, as well as the low profitability in the first quarter resulting from upfront fixed costs and strategic investment expenses. - FY2024-Q3RestatedAnnual report
「The Group’s business performance fluctuates seasonally because student numbers change as students graduate after entrance examinations and for other reasons. Performance is at its lowest in the first quarter of the consolidated fiscal year, when the new school year begins, and expands significantly in the second and fourth quarters, when special-course classes are held. As a result, profitability tends to be lower in the first and third quarters than in the second and fourth quarters.」
Continues to document the lower profitability in the first and third quarters and the seasonal rise in performance in the second and fourth quarters. - FY2024-Q1RestatedAnnual report
「The Group's operating results are subject to seasonal fluctuations because the number of students changes due to graduation and other factors after examinations. Results bottom out in the consolidated first-quarter accounting period, when the new term begins, and rise significantly in the consolidated second- and fourth-quarter accounting periods, when special classes are held.」
Continues to document the seasonality whereby performance bottoms out in the first quarter and rises in the second and fourth quarters. - FY2023-Q3RestatedAnnual report
「The Group’s business performance fluctuates seasonally because student numbers change as students graduate after entrance examinations and for other reasons. Performance is at its lowest in the first quarter of the consolidated fiscal year, when the new school year begins, and expands significantly in the second and fourth quarters, when special-course classes are held. As a result, profitability tends to be lower in the first and third quarters than in the second and fourth quarters.」
Continues to document the lower profitability in the first and third quarters and the seasonal rise in performance in the second and fourth quarters. - FY2023-Q2RestatedAnnual report
「The Group’s business performance fluctuates seasonally because student numbers change as students graduate after entrance examinations and for other reasons. Performance is at its lowest in the first quarter of the consolidated fiscal year, when the new school year begins, and expands significantly in the second and fourth quarters, when special-course classes are held. As a result, profitability tends to be lower in the first and third quarters than in the second and fourth quarters.」
Continues to document the lower profitability in the first and third quarters and the seasonal rise in performance in the second and fourth quarters. - FY2023-Q1RestatedAnnual report
「The Group's operating results are subject to seasonal fluctuations because the number of students changes due to graduation and other factors after examinations. Results bottom out in the consolidated first-quarter accounting period, when the new term begins, and rise significantly in the consolidated second- and fourth-quarter accounting periods, when special classes are held.」
Reconfirms the seasonality whereby performance bottoms out in the first quarter and rises in the second and fourth quarters. - FY2022-Q3RestatedAnnual report
「The Group's operating results are subject to seasonal fluctuations because the number of students changes due to graduation and other factors after examinations. Results bottom out in the consolidated first-quarter accounting period, when the new term begins, and rise significantly in the consolidated second- and fourth-quarter accounting periods, when special classes are held.」
Reconfirms the seasonality whereby performance bottoms out in the first quarter and rises in the second and fourth quarters. - FY2022-Q1RestatedAnnual report
「The Group's operating results are subject to seasonal fluctuations because the number of students changes due to graduation and other factors after examinations. Results bottom out in the first quarter, when the new term begins, and rise significantly in the second and fourth quarters, when special classes are held.」
Continues to document the seasonality whereby performance bottoms out in the first quarter and rises in the second and fourth quarters. - FY2021-Q3RestatedAnnual report
「The Group's operating results are subject to seasonal fluctuations because the number of students changes due to graduation and other factors after examinations. Results bottom out in the first quarter, when the new academic year begins, and rise significantly in the second and fourth quarters, when special classes are held.」
Continues to document the seasonality whereby performance bottoms out in the first quarter and rises in the second and fourth quarters. - FY2021-Q2RestatedAnnual report
「The Group's operating results are subject to seasonal fluctuations because the number of students changes due to graduation and other factors after examinations. Results bottom out in the first quarter, when the new academic year begins, and rise significantly in the second and fourth quarters, when special classes are held.」
Continues to document the seasonality whereby performance bottoms out in the first quarter and rises in the second and fourth quarters. - FY2021-Q1RestatedAnnual report
「The Group's operating results are subject to seasonal fluctuations because the number of students changes due to graduation and other factors after examinations. Results bottom out in the first quarter, when the new term begins, and rise significantly in the second and fourth quarters, when special classes are held.」
Continues to document the seasonality whereby performance bottoms out in the first quarter and rises in the second and fourth quarters. - FY2020RestatedAnnual report
「The Group's performance tends to bottom out in the first quarter, when the new academic year begins, and rise significantly in the second and fourth quarters, when special classes are held, because the number of students changes due to graduation and other factors after examinations. Accordingly, profitability tends to be lower in the first and third quarters than in the second and fourth quarters.」
Continues to document the lower profitability in the first and third quarters and the seasonal rise in performance in the second and fourth quarters. - FY2020-Q3RestatedAnnual report
「The Group's performance is subject to seasonal fluctuations because the number of students changes due to graduation and other factors after examinations. Performance bottoms out in the first quarter, when the new academic year begins, and rises significantly in the second and fourth quarters, when special classes are held.」
Reconfirms the seasonality whereby performance bottoms out in the first quarter and rises in the second and fourth quarters. - FY2020-Q2RestatedAnnual report
「The Group's operating results are subject to seasonal fluctuations because the number of students changes due to graduation and other factors after examinations. Results bottom out in the first quarter, when the new academic year begins, and rise significantly in the second and fourth quarters, when special classes are held.」
Reconfirms the seasonality whereby performance bottoms out in the first quarter and rises in the second and fourth quarters. - FY2019RestatedAnnual report
「The Group's performance tends to bottom out in the first quarter, when the new academic year begins, and rise significantly in the second and fourth quarters, when special classes are held, because the number of students changes due to graduation and other factors after examinations. Accordingly, profitability tends to be lower in the first and third quarters than in the second and fourth quarters.」
Continues to document the lower profitability in the first and third quarters and the seasonal rise in performance in the second and fourth quarters. - FY2019-Q3RestatedAnnual report
「The Group's performance is subject to seasonal fluctuations because the number of students changes due to graduation and other factors after examinations. Performance bottoms out in the first quarter, when the new academic year begins, and rises significantly in the second and fourth quarters, when special classes are held.」
Reconfirms the seasonality whereby performance bottoms out in the first quarter and rises in the second and fourth quarters. - FY2019-Q2RestatedAnnual report
「The Group's performance is subject to seasonal fluctuations because the number of students changes due to graduation and other factors after examinations. Performance bottoms out in the first quarter, when the new academic year begins, and rises significantly in the second and fourth quarters, when special classes are held.」
Reconfirms the seasonality whereby performance bottoms out in the first quarter and rises in the second and fourth quarters. - FY2019-Q1RestatedAnnual report
「The Group's performance is subject to seasonal fluctuations because the number of students changes due to graduation and other factors after examinations. Performance bottoms out in the first quarter, when the new term begins, and rises significantly in the second and fourth quarters, when special classes are held. Accordingly, profitability tends to be lower in the first and third quarters than in the second and fourth quarters.」
Reconfirms that profitability is lower in the first and third quarters and that performance rises in the second and fourth quarters due to seasonality. The notes also mention upfront expenses for fixed costs and strategic investment in the first quarter. - FY2018-Q3RestatedAnnual report
「The Group's performance is subject to seasonal fluctuations because the number of students changes due to graduation and other factors after examinations. Performance bottoms out in the first quarter, when the new academic year begins, and rises significantly in the second and fourth quarters, when special classes are held.」
Reconfirms the seasonality whereby performance bottoms out in the first quarter and rises in the second and fourth quarters. - FY2018-Q2RestatedAnnual report
「The Group's performance is subject to seasonal fluctuations because the number of students changes due to graduation and other factors after examinations. Performance bottoms out in the first quarter, when the new academic year begins, and rises significantly in the second and fourth quarters, when special classes are held.」
Reconfirms the seasonality whereby performance bottoms out in the first quarter and rises in the second and fourth quarters. - FY2018-Q1RestatedAnnual report
「The Group's performance is subject to seasonal fluctuations because the number of students changes due to graduation and other factors after examinations. Performance bottoms out in the first quarter, when the new term begins, and rises significantly in the second and fourth quarters, when special classes are held. Accordingly, profitability tends to be lower in the first and third quarters than in the second and fourth quarters.」
Reconfirms that profitability is lower in the first and third quarters and that performance rises in the second and fourth quarters due to seasonality. - FY2017-Q3RestatedAnnual report
「The Group's performance is subject to seasonal fluctuations because the number of students changes due to graduation and other factors after examinations. Performance bottoms out in the first quarter, when the new academic year begins, and rises significantly in the second and fourth quarters, when special classes are held.」
Reconfirms the seasonality whereby performance bottoms out in the first quarter and rises in the second and fourth quarters. - FY2017-Q2RestatedAnnual report
「The Group's performance is subject to seasonal fluctuations because the number of students changes due to graduation and other factors after examinations. Performance bottoms out in the first quarter, when the new academic year begins, and rises significantly in the second and fourth quarters, when special classes are held.」
Continues to explain the seasonality whereby performance bottoms out in the first quarter and rises in the second and fourth quarters. - FY2017-Q1First statedAnnual report
「The Group's results are subject to seasonal fluctuations because the number of students changes as a result of graduation after entrance examinations and other factors. Results are lowest in the first quarter, when the new academic year begins, and increase substantially in the second and fourth quarters, when supplementary courses are held. Profitability tends to be relatively low in the first quarter in particular, because fixed costs and expenses for strategic investments are incurred in advance.」
Explains the seasonality whereby performance bottoms out in the first quarter and rises in the second and fourth quarters, when special classes are held. Also identifies upfront fixed costs and strategic investment as factors behind low profitability.