Performance Seasonality Driven by Customer Budget Execution Cycles
First written in FY2022. 4 of 8 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2024: 4 of 13 companies on the "Worse" side.
13 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「Revenue from analysis and visualization services tends to be concentrated in the third quarter (January to March). Meanwhile, fixed costs included in cost of sales and selling, general and administrative expenses are incurred on a regular basis, so operating income also tends to be highest in that quarter.」
In the eleventh fiscal year, revenue from analysis and visualization services was ¥624.642 million in the third quarter, representing 41.3% of the total, continuing to quantify the risk of seasonal concentration. - FY2026-H1DroppedAnnual report
「Not applicable.」
The business and other risks section of the interim report contains no specific mention of the risk of seasonal concentration of performance due to customers’ budget execution cycles. This does not establish that the risk itself has disappeared. - FY2025RestatedAnnual report
「Our revenue from analytics and visualization services tends to be concentrated in the third quarter (January to March). Meanwhile, fixed costs included in cost of sales and selling, general and administrative expenses are incurred on an ongoing basis, so operating profit also tends to be highest in that quarter.」
The company reframes the previous seasonal concentration due to customers’ budget execution cycles as concentration in analytics and visualization services and operating profit, and discloses quarterly results for the tenth fiscal year. - FY2025-H1DroppedAnnual report
「Not applicable.」
The business and other risks section of the interim report contains no specific mention of the risk of seasonal concentration of performance due to customers’ budget execution cycles. This does not establish that the risk itself has disappeared. - FY2024RestatedAnnual report
「Our revenue tends to be concentrated in the third quarter (January to March) because of the budget execution cycles of customers whose fiscal years end in March. In the ninth fiscal year (the fiscal year ended June 2024), quarterly revenue accounted for 17.3% in the first quarter, 23.2% in the second quarter, 33.1% in the third quarter and 26.4% in the fourth quarter.」
The company continues to disclose seasonal concentration due to customers’ budget execution cycles and quantifies third-quarter revenue as 33.1% of revenue for the current fiscal year. - FY2024-Q1DroppedAnnual report
「Not applicable.」
The business and other risks section of the quarterly report states, “There are no applicable matters,” and contains no specific mention of the risk of seasonal concentration of performance due to customers’ budget execution cycles. - FY2023RestatedAnnual report
「As shown in the table below, our revenue tends to be concentrated in the third quarter (January to March) because of the budget execution cycles of customers whose fiscal years end in March.」
In FY2023, quarterly revenue accounted for 21.6% in the first quarter, 24.2% in the second quarter, 31.1% in the third quarter and 23.1% in the fourth quarter, continuing to quantify the seasonal concentration. - FY2022First statedAnnual report
「As shown in the table below, our revenue tends to be concentrated in the third quarter (January to March) because of the budget execution cycles of customers whose fiscal years end in March.」
In FY2022, third-quarter revenue was ¥556.916 million, accounting for 38.5%, and the company identifies fluctuations in quarterly revenue and profit as a risk.