Sales Declines Due to Customer Inventory Adjustments
First written in FY2018-Q1. 12 of 21 entries say "Materialised", first in FY2018-Q2. Latest entry: FY2026-H1.
Moresco moved to the "Worse" side of this theme in 2017, 2 years before the typical company in this theme (2019).
The whole theme swung hardest in 2023: 3 of 6 companies on the "Worse" side.
1 other company's latest entry also says "Restated".
- FY2026-H1RestatedAnnual report
「Hot-melt adhesives posted lower revenue because sales of products for hygiene-material applications declined due to lower demand from major customers.」
Lower demand from major customers continues to emerge as lower revenue from hot-melt adhesives for hygiene-material applications. - FY2025-H1RestatedAnnual report
「Hot-melt adhesives posted lower revenue due to inventory adjustments and declining demand at major customers.」
Inventory adjustments and declining demand at major customers continue to appear in results as lower revenue from hot-melt adhesives in Southeast and South Asia. - FY2024-Q3MaterialisedAnnual report
「Volumes of base materials and synthetic lubricants declined due to lower demand from major customers.」
Lower demand from major customers continues to appear in results as lower sales volumes of base materials and synthetic lubricants. - FY2024-Q2MaterialisedAnnual report
「Volumes of base materials and synthetic lubricants declined due to lower demand from major customers.」
Lower demand from major customers continues to appear in results as lower sales volumes of base materials and synthetic lubricants. - FY2024-Q1MaterialisedAnnual report
「Overall margins are improving as a result of the product price correction initiatives undertaken since last year. However, sales volumes fell below the year-earlier period due to the impact of customer inventory adjustments and other factors.」
In Japan, margins are improving through product price corrections, while sales volumes fell below the year-earlier period due to customer inventory adjustments and other factors. - FY2023-Q3MaterialisedAnnual report
「In the synthetic lubricants segment, volumes of high-temperature lubricants declined due to the impact of customer inventory adjustments.」
Customer inventory adjustments continue to appear in results as lower volumes of high-temperature lubricants. - FY2023-Q2MaterialisedAnnual report
「Although volumes of specialty lubricants declined due to customer inventory adjustments and other factors, revenue increased as a result of selling-price corrections and the yen's depreciation.」
Sales volumes of specialty lubricants in Southeast and South Asia declined due to customer inventory adjustments. Revenue increased due to selling-price corrections and the yen's depreciation. - FY2023-Q1MaterialisedAnnual report
「Although the economy is on a recovery track, specialty lubricants posted higher revenue as corrections to selling prices more than offset lower volumes resulting from customer inventory adjustments and other factors.」
Sales volumes of specialty lubricants in Southeast and South Asia declined due to customer inventory adjustments. Revenue increased following selling-price corrections. - FY2022MitigatedAnnual report
「Supply constraints, including shortages of semiconductor components, acted as a drag, and domestic automobile production slowed from August onward and fell below the previous fiscal year for the full year. However, sales increased across lubricant products overall, mainly due to the impact of customers building up inventories and other factors.」
Although the slowdown in domestic automobile production continued, sales of lubricant products overall increased as customers built up inventories, temporarily mitigating the impact of lower sales resulting from customer inventory adjustments. - FY2021-Q3RestatedAnnual report
「Liquid paraffin posted lower revenue: shipments for lithium-ion battery and polystyrene plasticizer applications were affected by customer production adjustments, while shipments for cosmetics applications were affected by lower inbound tourism consumption and requests to refrain from going out.」
The situation in which customer production adjustments reduce shipments for lithium-ion battery and polystyrene plasticizer applications has been reconfirmed. - FY2021-Q2MaterialisedAnnual report
「Hard disk surface lubricant sales, which increased year on year in the first quarter against a backdrop of rising demand for data center hard disk drives, declined year on year in the second quarter due to the impact of customer production stoppages.」
Customer production stoppages are actually emerging in results as a factor reducing shipments of hard-disk surface lubricants. - FY2021-Q1RestatedAnnual report
「Shipments for polystyrene plasticizer applications were affected by lower plant operating rates resulting from customers' scheduled equipment maintenance, while shipments for cosmetics applications were affected by lower inbound tourism consumption and requests to refrain from going out. Both were below the year-earlier period.」
Lower operating rates resulting from customers' scheduled equipment maintenance and declining demand continue to emerge as factors reducing liquid paraffin shipments. - FY2020RestatedAnnual report
「Shipments for adhesive and filter applications remained firm, while sales for hygiene materials and automotive applications declined due to the impact of customer production adjustments and other factors.」
Customer production adjustments continue to drive lower sales for hygiene materials and automotive applications. - FY2020-Q3RestatedAnnual report
「Sales of liquid paraffin for cosmetics and lithium-ion battery applications declined, mainly due to the impact of customer production adjustments. Sulfonates also posted lower revenue, mainly due to decreased exports and other factors.」
Customer production adjustments continue to drive lower sales of liquid paraffin for cosmetics and lithium-ion battery applications. - FY2020-Q2RestatedAnnual report
「Shipments of liquid paraffin for cosmetics applications declined due to production adjustments by customers, while exports of sulfonates also decreased. As a result, volumes were slightly below the same period of the previous year, but higher selling prices kept sales broadly in line with the same period of the previous year.」
Customer production adjustments continued from the previous quarter to affect actual results by reducing liquid paraffin shipments. - FY2020-Q1MaterialisedAnnual report
「Sales of liquid paraffin were only slightly higher year on year because sales for cosmetics and other applications declined due to the impact of customer production adjustments and other factors.」
Customer production adjustments are actually emerging as a factor suppressing sales of liquid paraffin. - FY2019-Q2MaterialisedAnnual report
「While sales of the core die-casting lubricants were at approximately the year-earlier level, sales of hot-forging lubricants fell below the year-earlier level due to the impact of customer inventory adjustments.」
Customer inventory adjustments continue to appear in actual performance as a factor behind lower sales of hot-forging lubricants. - FY2019-Q1MaterialisedAnnual report
「Sales of high-temperature lubricants for grease base oil used in automotive bearings fell below the year-earlier period due to customer inventory adjustments and other factors, but sales for food and building materials remained strong. In addition, although shipments of hard disk surface lubricants declined, progress in the shift to higher-priced products resulted in both products recording results roughly in line with the year-earlier period.」
Customer inventory adjustments have actually emerged in performance as a factor behind lower sales for automotive bearing grease base oil applications. - FY2018-Q3MaterialisedAnnual report
「Sales of automotive chemical products at consolidated subsidiary Ethylene Chemical fell below the year-earlier level due to customer inventory adjustments and lower exports.」
Customer inventory adjustments have continued from the previous quarter to appear in actual performance as a factor behind lower sales of automotive chemical products. - FY2018-Q2MaterialisedAnnual report
「Sales of automotive chemical products at consolidated subsidiary Ethylene Chemical fell below the year-earlier level due to customer inventory adjustments and lower exports.」
Customer inventory adjustments have continued from the previous quarter to appear in actual performance as a factor behind lower sales of automotive chemical products. - FY2018-Q1First statedAnnual report
「Sales of automotive chemical products at consolidated subsidiary Ethylene Chemical fell below the year-earlier level due to revisions to selling prices following the decline in raw material prices, customer inventory adjustments and other factors. Sales of hard-disk surface lubricants also fell below the year-earlier level due to customer inventory adjustments and other factors.」
Customer inventory adjustments have actually emerged as a factor behind lower sales of automotive chemical products and hard-disk surface lubricants.