Sluggish Sales and Profit Due to Inventory Adjustments in the Overseas Commercial Business
First written in FY2017-Q1. 17 of 34 entries say "Worsened", first in FY2017-Q3. Latest entry: 2026-11-10.
Japan Cash Machine moved to the "Worse" side of this theme in 2019, 2 years before the typical company in this theme (2021).
The whole theme swung hardest in 2020: 8 of 25 companies on the "Worse" side.
9 other companies' latest entry also says "Mitigated".
- FY2026Lower losses despite declining revenueAnnual report
「Due mainly to lower sales of banknote recycling units for Europe, the segment's core market, segment revenue was ¥4,716 million, down 17.4% from the previous consolidated fiscal year. On the earnings side, the segment loss improved to ¥274 million, compared with a loss of ¥566 million in the previous consolidated fiscal year, as sales in North, Central and South America, although still modest, were trending upward.」
Overseas Commercial reported lower revenue due to lower sales in Europe, but the loss narrowed from ¥566 million to ¥274 million amid an upward trend in sales in North, Central and South America. - 2026-05-13MitigatedRevision to earnings forecast
「利益面においては、北中南米地域向けの販売が僅かではあるものの増加傾向にあることから、セグメント損失は274百万円（前連結会計年度は566百万円の損失）と改善が見られました。」
売上高は減少したものの、北中南米向け販売の増加傾向によりセグメント損失は縮小している。 - FY2026-H1WorsenedAnnual report
「Due mainly to lower sales of banknote recycling units, primarily in Europe, segment revenue was ¥2,000 million, down 41.8% year on year. On the earnings side, in addition to lower revenue, upfront investments including research and development of new products for Europe and North America caused the segment loss to widen to ¥561 million, compared with a loss of ¥172 million in the same period of the previous year.」
Overseas Commercial's revenue fell 41.8% due to lower sales in Europe, while upfront investments including research and development of new products caused the segment loss to widen from ¥172 million to ¥561 million. - FY2025-H1WorsenedAnnual report
「Segment revenue was ¥3,436 million, up 26.8% year on year, due mainly to higher sales of banknote recycling units for self-checkout systems in Europe. However, because the company actively made upfront investments, including research and development of new products, to develop new markets in North, Central and South America, the segment posted a loss of ¥172 million, compared with a loss of ¥137 million in the same period of the previous year.」
Although higher sales in Europe increased revenue, upfront investments to develop new markets in North, Central and South America caused the segment loss to widen from ¥137 million to ¥172 million. - FY2024-Q3WorsenedAnnual report
「Revenue in this segment was ¥4,275 million, up 39.1% year on year, mainly because demand for banknote recycling units and banknote validator units for the European distribution market remained firm. On the other hand, the segment recorded a loss of ¥50 million, compared with profit of ¥129 million in the same period of the previous fiscal year, due in part to the impact of surging component prices.」
Overseas Commercial reported higher revenue due to demand for products in the European cash-handling market, but higher material prices caused it to deteriorate from a profit in the same period of the previous year to a loss of ¥50 million. - FY2024-Q2WorsenedAnnual report
「Steady demand for banknote recycling units and banknote validator units for the European cash-handling market resulted in segment revenue of ¥2,710 million, up 17.7% year on year. However, due to higher material prices and other factors, the segment posted a loss of ¥137 million, compared with a profit of ¥54 million in the same quarter of the previous year.」
Overseas Commercial reported higher revenue due to sales for the European cash-handling market, but higher material prices caused it to swing from a profit in the same period of the previous year to a loss of ¥137 million. - FY2024-Q1WorsenedAnnual report
「Higher sales of banknote recycling units and banknote validator units for the European cash-handling market resulted in segment revenue of ¥1,487 million, up 42.4% year on year. However, due to the impact of higher material prices and other factors, the segment swung from a profit of ¥45 million in the same quarter of the previous year to a loss of ¥115 million.」
Although higher sales in Europe resulted in a substantial increase in revenue, the segment swung from a profit in the same quarter of the previous year to a loss of ¥115 million due to higher material prices. - FY2023WorsenedAnnual report
「Meanwhile, the impact of higher product-material and logistics costs was substantial, and negotiations to pass these costs on through product prices proved difficult, particularly for projects covered by long-term customer contracts. Segment profit was ¥37 million, down 82.0% from the previous consolidated fiscal year.」
Overseas Commercial reported higher revenue, but profit deteriorated, falling 82.0% year on year due to higher material and logistics costs and difficult negotiations to pass these costs on to customers. - FY2023-Q3WorsenedAnnual report
「Due mainly to delays in some projects resulting from the Chinese government's zero-COVID policy and lower sales of the company's products in Asia, segment revenue was ¥3,073 million, down 7.6% year on year, while segment profit was ¥129 million, down 22.5%.」
Overseas Commercial's revenue and segment profit both fell below the same period of the previous year due to project delays caused by China's zero-COVID policy and lower sales in Asia. - FY2023-Q2Earnings Decline Despite Revenue GrowthAnnual report
「Sales of banknote validator units and banknote recycling units for self-checkout terminals in Europe remained strong, as in the previous year, while sales to Asia declined in part. As a result, segment sales were ¥2,303 million, up 4.7% year on year, and segment profit was ¥54 million, down 4.2% year on year.」
Overseas Commercial reported higher revenue due to increased sales for self-checkout systems in Europe, but profit declined 4.2% year on year due partly to lower sales in some Asian markets. - FY2023-Q1AdvancedAnnual report
「Higher sales of banknote recycling units and banknote validator units for the European cash-handling market resulted in segment revenue of ¥1,044 million, up 6.7% year on year. Segment profit was ¥45 million, compared with a loss of ¥28 million in the same quarter of the previous year.」
Overseas Commercial reported higher revenue due to increased sales of products for the European cash-handling market and swung from a loss in the same period of the previous year to a profit of ¥45 million. - FY2022-Q3AdvancedAnnual report
「Due mainly to higher sales of banknote validator units for self-checkout terminals in Europe, segment sales were ¥3,326 million, up 55.1% year on year, and the segment posted a profit of ¥167 million, compared with a loss of ¥713 million in the same quarter of the previous year.」
Overseas Commercial reported a substantial increase in revenue due to higher sales for self-checkout systems in Europe and swung from a loss in the same period of the previous year to a profit. - FY2022-Q2AdvancedAnnual report
「Due mainly to higher sales of banknote validator units for self-checkout terminals at supermarkets and other facilities in Europe, segment sales were ¥2,200 million, up 77.4% year on year, and the segment posted a profit of ¥57 million, compared with a loss of ¥508 million in the same quarter of the previous year.」
Overseas Commercial's revenue increased 77.4% year on year due to higher sales for self-checkout systems in Europe, and the segment swung from a loss in the same period of the previous year to a profit. - FY2022-Q1AdvancedAnnual report
「Although sales to the transportation sector in Asia declined, sales of banknote validator units for self-checkout terminals at supermarkets and other facilities in Europe increased. As a result, segment sales were ¥979 million, up 35.0% year on year, and the segment posted a loss of ¥28 million, compared with a loss of ¥191 million in the same quarter of the previous year.」
Overseas Commercial's revenue increased 35.0% due to higher sales for self-checkout systems in Europe, while its segment loss narrowed from ¥191 million to ¥28 million. - FY2021-Q3Higher revenue from new products alongside a widening lossAnnual report
「Although sales of banknote recycling units declined in Europe and North America, sales of new banknote recycling units for railway ticket vending machines increased in China, Singapore and Taiwan. Segment revenue was ¥2,144 million, up 5.9% year on year. However, due to research and development spending and other factors, the segment posted a loss of ¥713 million, compared with a loss of ¥592 million in the same quarter of the previous year.」
Overseas Commercial's revenue increased 5.9% due to sales of new products in Asia, while research and development expenses and other factors caused its segment loss to widen from ¥592 million to ¥713 million. - FY2021-Q2WorsenedAnnual report
「Sales of new banknote recycling units increased in Asia, including China, where economic activity was recovering, as well as India and Singapore, for railway ticket vending machines. However, sales of banknote recycling units declined in Europe, resulting in segment revenue of ¥1,240 million, down 12.5% year on year, and a segment loss of ¥508 million, compared with a loss of ¥405 million in the same quarter of the previous year.」
The increase in sales of new products in Asia was insufficient to offset lower sales in Europe. Overseas Commercial reported lower revenue, and its loss widened from ¥405 million to ¥508 million. - FY2021-Q1WorsenedAnnual report
「Sales of new banknote recycling units for railway ticket vending machines increased in Asia, but sales of banknote validator units declined in North America. Segment revenue was ¥725 million, down 4.0% year on year, and the segment posted a loss of ¥191 million, compared with a loss of ¥130 million in the same quarter of the previous year.」
The increase in sales of new products in Asia was insufficient to offset lower sales in North America. Overseas Commercial reported lower revenue, and its loss also widened from the same period of the previous year. - FY2020-Q3WorsenedAnnual report
「Sales increased for railway ticket vending machines in China following the launch of new banknote recycling units, but sales of banknote validator units and banknote recycling units for financial institutions in North America and Europe declined. Segment revenue was ¥2,024 million, down 24.4% year on year. On the earnings side, the segment posted a loss of ¥592 million, compared with a loss of ¥4 million in the same quarter of the previous year, due mainly to higher research and development expenses.」
The increase in sales of new products for Chinese railways was insufficient to offset lower sales in North America and Europe and higher research and development expenses, causing Overseas Commercial's loss to widen from ¥4 million in the same period of the previous year to ¥592 million. - FY2020-Q2WorsenedAnnual report
「Sales of new banknote recycling units and other products increased steadily in Asia, but sales of core products declined in Europe and the yen remained strong. As a result, segment revenue was ¥1,417 million, down 27.1% year on year, and the segment posted a loss of ¥405 million, compared with a profit of ¥64 million in the same quarter of the previous year.」
The increase in sales of new products in Asia was insufficient to offset lower sales of core products in Europe and the stronger yen. Overseas Commercial reported lower revenue and swung from a profit in the same period of the previous year to a loss of ¥405 million. - FY2020-Q1WorsenedAnnual report
「Although demand for cash-handling equipment remained high, sales of banknote validator units and other products in Europe did not increase, as quality enhancements for emerging-market products took time and progress on new products was delayed. Segment revenue was ¥756 million, down 14.5% year on year, while the segment posted a loss of ¥130 million, compared with a profit of ¥76 million in the same quarter of the previous year, due mainly to higher investment in new-product development.」
Overseas Commercial swung from a profit in the same period of the previous year to a loss of ¥130 million, due to missed sales targets and increased investment in new-product development. - FY2019WorsenedAnnual report
「Lower sales of printer products for medical and parking applications in North America, along with sluggish sales of various products in Asian markets including China and India, among other factors, resulted in segment revenue of ¥3,371 million, down 11.2% from the previous consolidated fiscal year. The segment reported a loss of ¥228 million, compared with profit of ¥626 million in the previous consolidated fiscal year, following aggressive development investment in next-generation products.」
Overseas Commercial shifted from profit of ¥626 million in the previous fiscal year to a loss of ¥228 million due to weak sales in North America and Asia, as well as development investment in next-generation products. - FY2019-Q3WorsenedAnnual report
「Weak sales in North America and Asia, among other factors, resulted in segment revenue of ¥2,678 million, down 8.3% year on year. Segment loss was ¥4 million, compared with profit of ¥447 million in the same period of the previous year, due in part to higher research and development expenses for new products.」
Overseas Commercial posted lower revenue due to weak sales in North America and Asia and shifted from profit in the previous year to a loss, compounded by higher research and development expenses for new products. - FY2019-Q2WorsenedAnnual report
「Although sales of banknote validator units in Europe increased, weak sales in Asia, among other factors, resulted in segment revenue of ¥1,943 million, down 6.3% year on year, and segment profit of ¥64 million, down 79.1%.」
Although sales in Europe increased, weak Asian sales resulted in lower revenue for Overseas Commercial, while segment profit deteriorated, declining 79.1% year on year. - FY2019-Q1Sluggish Asian sales alongside improved marginsAnnual report
「Although sales of banknote recycling units in Europe increased, sluggish sales to Asian markets, including China and India, among other factors, resulted in segment revenue of ¥884 million, down 4.7% year on year. However, segment profit increased 2.7% to ¥76 million due to higher sales of high-margin products.」
Overseas Commercial posted lower revenue due to sluggish sales to China, India and other Asian markets, while segment profit increased as sales of high-margin products rose. - FY2018AdvancedAnnual report
「Although sales of banknote validator units for the North American financial market declined, strong sales of banknote recycling units in Europe, among other factors, resulted in segment revenue of ¥3,797 million, up 9.6% from the previous consolidated fiscal year, and segment profit of ¥626 million, up 126.6%.」
Sales of banknote recycling units to Europe offset lower sales to North America, resulting in higher revenue and substantial profit growth for Overseas Commercial for the full fiscal year. - FY2018-Q3AdvancedAnnual report
「Although sales of banknote validator units for the North American financial market declined, strong sales of banknote recycling units to Europe, among other factors, resulted in segment revenue of ¥2,920 million, up 8.4% year on year, and segment profit of ¥447 million, up 99.8%.」
Although sales to North America continued to decline, strong sales of banknote recycling units to Europe offset the weakness, resulting in higher revenue and substantial profit growth for Overseas Commercial overall. - FY2018-Q2AdvancedAnnual report
「Although sales of banknote validator units for the North American financial market declined, steady sales to Europe, among other factors, resulted in segment revenue of ¥2,074 million, up 10.1% year on year, and segment profit of ¥310 million, up 113.9%.」
Although sales to North America continued to decline, steady sales to Europe offset the weakness, resulting in higher revenue and substantial profit growth for Overseas Commercial overall. - FY2018-Q1Europe and China offset weakness in North AmericaAnnual report
「Although sales of banknote validator units for the North American financial market declined, strong sales of banknote validator units to Europe and China, among other factors, resulted in segment revenue of ¥928 million, up 5.8% year on year. Segment profit was ¥74 million, compared with ¥5 million in the same period of the previous year.」
Although sales to the North American financial market continued to decline, strong sales to Europe and China lifted total Overseas Commercial revenue, while profit improved from ¥5 million in the previous year to ¥74 million. - FY2017WorsenedAnnual report
「Although sales in Europe remained solid, lower sales of banknote validator units for the North American financial market due to customers' demand reaching a plateau and other factors resulted in segment revenue of ¥3,466 million, down 14.6% from the previous consolidated fiscal year, and segment profit of ¥276 million, down 62.8%.」
The factor behind weak sales to the North American financial market was described as demand reaching a plateau rather than inventory adjustments. Full-year revenue declined 14.6% and profit declined 62.8%. - FY2017-Q3WorsenedAnnual report
「Although sales in Europe remained solid, lower sales of banknote validator units for the North American financial market due to inventory adjustments by customers and other factors resulted in segment revenue of ¥2,694 million, down 12.0% year on year, and segment profit of ¥224 million, down 61.8%.」
Weak Overseas Commercial performance due to inventory adjustments by North American customers continued. For the nine months ended December, revenue was down 12.0% and segment profit was down 61.8%. - FY2017-Q2RestatedAnnual report
「Demand in Europe remained steady, but sales of banknote validator units for the North American financial market were sluggish due to inventory adjustments by customers and other factors. Segment revenue was ¥1,884 million, down 7.0% year on year, and segment profit was ¥144 million, down 60.1%.」
Weak Overseas Commercial sales due to inventory adjustments by North American customers continued. First-half revenue declined 7.0% and segment profit declined 60.1%. - FY2017-Q1First statedAnnual report
「Sales of banknote validator units for the North American financial market were sluggish due to inventory adjustments by customers and other factors, resulting in segment revenue of ¥876 million, down 17.4% year on year, and segment profit of ¥5 million, down 97.8%.」
For the first time, inventory adjustments by customers were specifically identified as a factor behind weak sales in Overseas Commercial, and the company disclosed substantial declines in revenue and profit.