Economic Sensitivity of Capital Goods Demand and Earnings Volatility Risk
First written in FY2016. 15 of 37 entries say "Materialised", first in FY2017-Q2. Latest entry: 2026-08-07.
Dijet Industrial moved to the "Worse" side of this theme in 2016, 3 years before the typical company in this theme (2019).
The whole theme swung hardest in 2020: 62 of 77 companies on the "Worse" side.
22 other companies' latest entry also says "Mitigated".
- 2026-08-07MitigatedEarnings
「Consolidated net sales for the first quarter of the current fiscal year increased 25.2% year on year to ¥2,799 million.」
Although the risk of earnings volatility due to the economic sensitivity of demand for capital goods remains, recent performance improved through higher sales and earnings. - FY2026MitigatedAnnual report
「Operating profit was ¥648 million, up 195.8% year on year, due mainly to the increase in revenue and the improvement in the cost of sales ratio.」
The risk of earnings volatility due to the sensitivity of demand for capital goods to economic conditions remains, but operating profit recovered substantially due to higher revenue and an improved cost of sales ratio. - 2026-05-15WorsenedRevision of earnings forecasts
「For the full-year consolidated earnings forecast, we expect net sales of ¥9,600 million, operating income of ¥400 million, ordinary income of ¥350 million, and net income of ¥300 million.」
Although earnings improved in the current fiscal year, the forecast for the next fiscal year indicates declines in operating income, ordinary income, and net income from the current-year results, pointing to expected earnings volatility. - FY2026-H1MitigatedAnnual report
「Operating profit was ¥145 million, up 136.7% year on year, due mainly to the improvement in the cost of sales ratio.」
Consolidated revenue also increased 2.3% year on year, and operating profit was ¥145 million, up 136.7% year on year. The risk of earnings volatility due to the sensitivity of demand for capital goods to economic conditions remains, but the impact has eased from the low-profitability phase in the previous interim period. - FY2025MitigatedAnnual report
「Consolidated revenue was ¥8,793 million, up 5.4% year on year. Operating profit was ¥219 million, up 95.5% year on year, due mainly to the increase in revenue and the improvement in the cost of sales ratio.」
The risk associated with the sensitivity of demand for capital goods to economic conditions remains, but revenue and operating profit recovered, easing the impact from the lower-revenue, lower-profitability phase in the previous fiscal year. - FY2025-H1MitigatedAnnual report
「Consolidated revenue for the interim consolidated accounting period was ¥4,246 million, up 5.3% year on year. Operating profit was ¥61 million, up 983.5% year on year, due mainly to the improvement in the cost of sales ratio.」
The risk of earnings volatility associated with demand for capital goods and other factors remains, but revenue increased and operating profit also increased from ¥5 million in the same period of the previous fiscal year to ¥61 million, easing the impact from the lower-revenue, low-profitability phase in the FY2024 interim period. - FY2024MaterialisedAnnual report
「Consolidated revenue was ¥8,344 million, down 5.2% year on year. Operating profit was ¥112 million, down 61.1% year on year, due mainly to the decline in revenue and the deterioration in the cost of sales ratio. The net loss attributable to owners of the parent was ¥130 million, compared with net income attributable to owners of the parent of ¥362 million in the previous fiscal year.」
For the business structure affected by demand for capital goods and economic conditions, the impact of earnings volatility risk materialized over the full fiscal year as lower revenue, a substantial decline in operating profit and a change to a net loss for the year. - FY2024-Q3MaterialisedAnnual report
「Consolidated revenue for the nine months ended [the current third quarter] was ¥6,120 million, down 5.0% year on year. The operating loss was ¥24 million, compared with operating profit of ¥179 million in the same period of the previous fiscal year, due mainly to the deterioration in the cost of sales ratio.」
For the business structure in which demand for capital goods and other factors are affected by economic conditions, the impact of earnings volatility risk has appeared as lower revenue and a change from operating profit in the same period of the previous fiscal year to an operating loss. - FY2024-Q2MaterialisedAnnual report
「Consolidated revenue for the six months ended [the current second quarter] was ¥4,033 million, down 6.4% year on year. Operating profit was ¥5 million, down 96.8% year on year, due mainly to the deterioration in the cost of sales ratio. The quarterly net loss attributable to owners of the parent was ¥51 million, compared with quarterly net profit of ¥271 million in the same period of the previous fiscal year.」
For the business structure in which demand for capital goods and other factors are affected by economic conditions, the impact of earnings volatility risk has appeared as lower revenue, a substantial decline in operating profit and a change to a quarterly net loss. - FY2024-Q1Higher operating income despite lower revenueAnnual report
「Consolidated revenue for the three months ended [the current first quarter] was ¥2,043 million, down 1.4% year on year. Operating profit was ¥22 million, up 584.1% year on year, due mainly to the improvement in the cost of sales ratio.」
While revenue decreased year on year, operating profit increased 584.1% year on year due mainly to the improvement in the cost of sales ratio, with the impact of earnings volatility appearing as lower revenue but higher operating profit rather than higher revenue but lower profit. - FY2023MitigatedAnnual report
「Operating profit was ¥288 million, compared with operating profit of ¥10 million in the same period of the previous fiscal year, due mainly to the increase in revenue and the improvement in the cost of sales ratio.」
The risk of earnings volatility due to the sensitivity of demand for capital goods to economic conditions remains, but operating profit increased from ¥10 million to ¥288 million as revenue recovered and the cost of sales ratio improved. - FY2023-Q3MitigatedAnnual report
「Consolidated revenue for the nine months ended [the current third quarter] was ¥6,441 million, up 11.3% year on year. Operating profit was ¥179 million, compared with an operating loss of ¥164 million in the same period of the previous fiscal year, due mainly to the improvement in the cost of sales ratio.」
Consolidated revenue increased, and operating results changed from the operating loss in the same period of the previous fiscal year to operating profit, easing the impact of the earnings volatility risk associated with demand for capital goods and other factors. - FY2023-Q2MitigatedAnnual report
「Consolidated revenue for the six months ended [the current second quarter] was ¥4,311 million, up 12.8% year on year. Operating profit was ¥174 million, compared with an operating loss of ¥175 million in the same period of the previous fiscal year, due mainly to the improvement in the cost of sales ratio.」
The risk of earnings volatility associated with demand for capital goods and other factors remains, but revenue increased and operating results changed from the operating loss in the same period of the previous fiscal year to operating profit, easing the impact. - FY2023-Q1MitigatedAnnual report
「Operating profit was ¥3 million, compared with an operating loss of ¥125 million in the same period of the previous fiscal year, due mainly to the improvement in the cost of sales ratio.」
The risk of earnings volatility associated with demand for capital goods and other factors remains, but operating results changed from an operating loss to operating profit, and the impact has eased from the loss-making phase through the previous quarter. - FY2022MitigatedAnnual report
「Operating profit was ¥10 million, compared with an operating loss of ¥540 million in the same period of the previous fiscal year, due mainly to the recovery in revenue.」
The risk of earnings volatility associated with demand for capital goods and other factors remains, but operating results changed from an operating loss to operating profit as revenue recovered, and the impact has eased from the previous fiscal year. - FY2022-Q3Higher revenue, narrower operating lossAnnual report
「In addition, based on revenue calculated on the assumption that the relevant accounting standard had been applied in the third quarter of the previous fiscal year, consolidated revenue for the nine months ended [the current third quarter] was ¥5,787 million, up 18.6% year on year. The operating loss was ¥164 million, compared with an operating loss of ¥537 million in the same period of the previous fiscal year.」
Revenue increased 18.6% year on year, while the operating loss narrowed from ¥537 million to ¥164 million. Although there is no indication that the risk of earnings volatility associated with demand for capital goods has disappeared, earnings are moving toward recovery. - FY2022-Q2Higher revenue and narrower lossesAnnual report
「In addition, based on a comparison with the previous year calculated using sales on the assumption that the relevant accounting standard had been applied in the second quarter of the previous year, consolidated net sales for the six-month consolidated cumulative period increased 18.1% year on year to ¥3,821 million. Consolidated operating loss was ¥175 million, compared with consolidated operating loss of ¥311 million in the same period of the previous year.」
Revenue increased 18.1% year on year, while the operating loss narrowed from ¥311 million to ¥175 million. There is no indication that the risk of earnings volatility associated with demand for capital goods has disappeared, and earnings are moving toward recovery. - FY2022-Q1Sales recovered, but losses widenedAnnual report
「In addition, based on a comparison with the previous year calculated using sales on the assumption that the revenue recognition accounting standard had been applied in the first quarter of the previous year, consolidated net sales for the three-month consolidated cumulative period increased 14.7% year on year to ¥1,892 million. Due to a higher cost-of-sales ratio and other factors, operating loss was ¥125 million, compared with an operating loss of ¥101 million in the same period of the previous year.」
Although sales increased year on year, operating loss widened from ¥101 million in the same period of the previous year to ¥125 million due to a higher cost-of-sales ratio and other factors. The impact of earnings volatility associated with demand for producer goods continued. - FY2021MaterialisedAnnual report
「Net sales for the consolidated fiscal year declined 21.6% year on year to ¥7,092 million. Operating loss was ¥540 million, compared with operating profit of ¥213 million in the same period of the previous year.」
The risk that demand for producer goods may be affected by economic conditions materialized in lower full-year sales and a shift from operating profit to an operating loss. - FY2021-Q3MaterialisedAnnual report
「Consolidated net sales for the nine-month consolidated cumulative period declined 27.3% year on year to ¥5,025 million. Due to lower sales and deterioration in the cost-of-sales ratio, consolidated operating loss was ¥537 million, compared with consolidated operating profit of ¥280 million in the same period of the previous year.」
The company's business structure is affected by economic conditions, including demand for producer goods and other factors, and the impact of earnings volatility risk was reflected in sales declining 27.3% and a shift from operating profit in the same period of the previous year to an operating loss of ¥537 million. - FY2021-Q2MaterialisedAnnual report
「Sales for the six-month consolidated cumulative period declined 28.7% year on year to ¥3,334 million. Due to lower sales and deterioration in the cost-of-sales ratio, consolidated operating loss was ¥311 million, compared with consolidated operating profit of ¥247 million in the same period of the previous year.」
The company's business structure is affected by economic conditions, including demand for producer goods and other factors, and the impact of earnings volatility risk was reflected in sales declining 28.7% and a shift from operating profit to an operating loss. - FY2021-Q1MaterialisedAnnual report
「Consolidated net sales for the three-month consolidated cumulative period declined 26.3% year on year to ¥1,702 million. Due to lower sales, higher cost-of-sales ratio and other factors, the company posted an operating loss of ¥101 million, compared with operating profit of ¥157 million in the same period of the previous year.」
The company's business structure is affected by economic conditions, including demand for producer goods, and the impact of earnings volatility risk was reflected in sales declining 26.3% and a shift from operating profit to an operating loss. - FY2020MaterialisedAnnual report
「Net sales for the consolidated fiscal year declined 9.5% year on year to ¥9,046 million.」
The company's business structure is affected by economic conditions, including demand for producer goods, and the impact of demand fluctuation risk was reflected in full-year sales declining 9.5% year on year. - FY2020-Q3MaterialisedAnnual report
「Due to lower sales and deterioration in the cost-of-sales ratio, operating profit declined 49.7% year on year to ¥280 million.」
The company's business structure is affected by economic conditions, including demand for producer goods and other factors, and the impact of earnings volatility risk was reflected in sales declining 9.5% and operating profit declining 49.7% year on year. - FY2020-Q2MaterialisedAnnual report
「Sales for the six-month consolidated cumulative period declined 8.7% year on year to ¥4,676 million. Due to lower sales and deterioration in the cost-of-sales ratio, operating profit declined 42.5% to ¥247 million. Ordinary profit declined 48.4% to ¥237 million, and net income attributable to owners of the parent declined 48.8% to ¥149 million.」
The company's business structure is affected by economic conditions, including demand for producer goods and other factors, and the impact of earnings volatility risk was reflected in lower sales and each profit measure year on year. - FY2020-Q1MaterialisedAnnual report
「Consolidated net sales for the three-month consolidated cumulative period declined 8.2% year on year to ¥2,309 million. Domestic sales declined 9.3% to ¥1,320 million, while exports declined 6.7% to ¥989 million.」
The company's business structure is affected by economic conditions, including demand for producer goods, and sales, including domestic sales and exports, declined year on year. - FY2019Full-Year Revenue Growth and Profit DeclineAnnual report
「Although sales increased slightly, operating profit declined 11.5% year on year to ¥452 million due to deterioration in the cost-of-sales ratio.」
While sales increased 1.1% to ¥9,998 million, operating profit, ordinary profit and net income declined, with changes in earnings resulting from demand fluctuations evident over the full year. - FY2019-Q3Third-quarter revenue and profit growthAnnual report
「Consolidated net sales for the nine-month consolidated cumulative period increased 4.5% year on year to ¥7,636 million. Due to higher sales and an improvement in the cost-of-sales ratio, operating profit increased 73.8% year on year to ¥558 million.」
While the risk of earnings volatility from demand for producer goods and other factors remains, sales and operating profit increased year on year in the nine-month consolidated cumulative period. - FY2019-Q2Higher revenue and profit in the first halfAnnual report
「Consolidated net sales for the six-month consolidated cumulative period increased 5.9% year on year to ¥5,124 million. Due to higher sales and an improvement in the cost-of-sales ratio, operating profit increased 503.9% year on year to ¥430 million.」
Although the risk of earnings volatility from demand for producer goods and other factors remains, sales increased 5.9% in the first half and operating profit increased 503.9% year on year. - FY2019-Q1Quarterly earnings recoveryAnnual report
「Consolidated net sales for the three-month consolidated cumulative period increased 8.8% year on year to ¥2,516 million. Due to higher sales and an improvement in the cost-of-sales ratio, operating profit increased by ¥276 million year on year to ¥243 million, compared with an operating loss of ¥32 million in the same period of the previous year.」
Although the risk of earnings volatility from demand for producer goods and other factors remains, the company moved from an operating loss to operating profit compared with the same period of the previous year, and sales increased 8.8%. - FY2018Full-year revenue and profit growthAnnual report
「Net sales for the consolidated fiscal year increased 4.0% year on year to ¥9,889 million. Operating profit increased 41.9% to ¥511 million, ordinary profit increased 59.3% to ¥571 million, and net income attributable to owners of the parent increased 30.9% to ¥413 million.」
While the risk remains that demand for producer goods may be affected by economic conditions, sales, operating profit, ordinary profit and net income all increased year on year in FY2018, indicating a full-year improvement from the decline in profit through the previous quarter. - FY2018-Q3Earnings ImprovementAnnual report
「Consolidated net sales increased 4.3% year on year to ¥7,310 million. In terms of earnings, consolidated operating profit increased 12.4% to ¥321 million due to firm sales and the impact of foreign exchange, ordinary profit increased 35.9% to ¥396 million, and net income attributable to owners of the parent increased 30.3% to ¥255 million.」
Sales and each profit measure increased year on year, indicating an improvement in earnings from the declines in sales and profit reported through the previous fiscal year. There is no statement that the risk of demand fluctuations has disappeared. - FY2018-Q2MaterialisedAnnual report
「Consolidated net sales increased 3.2% year on year to ¥4,839 million. In terms of earnings, the cost of sales rose due to lower plant utilization, resulting in a 62.0% year-on-year decline in consolidated operating profit to ¥71 million. Ordinary profit declined 4.0% to ¥133 million, while net income attributable to owners of the parent increased 2.8% to ¥75 million.」
Although sales increased, operating profit declined substantially due to higher costs arising from lower plant utilization and other factors, with earnings volatility reflected in the results. - FY2018-Q1MaterialisedAnnual report
「Consolidated net sales declined 1.7% year on year to ¥2,313 million. In terms of earnings, the cost of sales rose due to lower plant utilization, resulting in a 114.4% year-on-year decline in consolidated operating profit to an operating loss of ¥32 million. Ordinary profit declined 96.5% to ¥6 million, and net income attributable to owners of the parent declined 104.6% to a net loss of ¥5 million.」
The company reports that its business structure, which may be affected by demand for producer goods and economic conditions, resulted in lower sales and a shift to an operating loss and net loss. - FY2017-Q3MaterialisedAnnual report
「Consolidated net sales declined 5.1% year on year to ¥7,010 million. In terms of earnings, consolidated operating profit declined 25.6% to ¥285 million due to lower sales, ordinary profit declined 27.5% to ¥291 million, and net income attributable to owners of the parent declined 22.6% to ¥196 million.」
The company reports year-on-year declines in sales and each profit measure as an actual result of its business structure, which may be affected by economic conditions, including demand for producer goods. - FY2017-Q2MaterialisedAnnual report
「In terms of earnings, consolidated operating profit declined 28.8% year on year to ¥187 million due to lower sales. Ordinary profit declined 48.2% to ¥138 million, and net income attributable to owners of the parent declined 58.2% to ¥73 million.」
The company reports that the risk associated with demand for producer goods, which may be affected by economic conditions, materialized in lower sales and declines in operating profit, ordinary profit and net income. - FY2016First statedAnnual report
「The overwhelming majority of the Group's products are producer goods, used mainly as consumables in the metalworking sector. Demand is affected by economic conditions and may adversely affect the Group's operating results and financial condition.」
The company describes the risk of demand fluctuations arising from its business mix, which is centered on producer goods and consumables.