Delays in the Overseas Electricity Meter Business Sales Plan and Poor Performance
First written in FY2016. 11 of 39 entries say "Materialised", first in FY2018-Q2. Latest entry: 2026-08-04.
The whole theme swung hardest in 2025: 8 of 13 companies on the "Worse" side.
0 other companies' latest entry also says "Achieved".
- FY2026MaterialisedAnnual report
「Although we had pursued structural reforms to improve the profitability of the overseas business based on the medium-term management plan, operating losses continued for several years in the Middle East and Africa, making a recovery in profitability difficult. Accordingly, we decided to withdraw from the region and reduced the carrying amount of the related business assets to their recoverable amount. The resulting reduction was recognized as a loss on business withdrawal under extraordinary losses.」
The company decided to withdraw from the Middle East and Africa due to continuing operating losses and the difficulty of recovering profitability, and recognized a ¥2,061 million loss on business withdrawal. - FY2026-H1MaterialisedAnnual report
「Revenue declined due to lower sales resulting from customer inventory adjustments in Oceania and other factors, as well as a decline following the absence of individual projects in Asia that had temporarily contributed in the same period of the previous year.」
Regarding risks to the overseas electricity meter business's sales plans and performance, revenue declined 1.5% year on year due to inventory adjustments by Oceania customers and the absence of individual projects in Asia that had temporarily contributed. However, operating profit increased. - FY2025MitigatedAnnual report
「In the overseas measurement and control business, we will further pursue a shift toward a profit-focused business through initiatives including promoting bundled sales of smart meters and higher-level systems, as well as organizational restructuring.」
With risks of delays to plans and weak performance remaining in the overseas business, the company identified bundled sales of smart meters and higher-level systems, organizational restructuring and a shift toward a profit-focused business as countermeasures. - FY2025-H1MaterialisedAnnual report
「Shipments to the UK declined due to customer inventory adjustments and other factors, resulting in revenue of ¥19,424 million, down 0.7% from the previous interim consolidated accounting period.」
Risks relating to overseas sales plans and performance partly materialized as lower shipments due to inventory adjustments by UK customers and a 0.7% decline in overseas revenue. However, operating profit increased. - FY2024MitigatedAnnual report
「In the overseas measurement and control business, shipments to the UK increased due to improved conditions for procuring electronic components, while shipments to Oceania also increased. As a result, revenue increased 17.6% year on year to ¥40,693 million. In terms of earnings, in addition to higher revenue, the easing of previously elevated electronic component prices and other factors resulted in operating profit of ¥1,155 million, compared with an operating loss of ¥1,886 million in the previous fiscal year.」
The overseas business shifted from an operating loss to a profit due to higher shipments and the stabilization of component prices, easing the impact of delays to sales plans and weak performance. - FY2024-Q3MitigatedAnnual report
「In the overseas measurement and control business, shipments to the UK increased due to improved conditions for procuring electronic components, while shipments to Oceania also increased. As a result, revenue increased 32.8% year on year to ¥30,138 million. In terms of earnings, in addition to higher revenue, the easing of previously elevated electronic component prices and other factors resulted in operating profit of ¥782 million, compared with an operating loss of ¥1,343 million in the same period of the previous year.」
Higher shipments to the UK and Oceania and the stabilization of electronic component prices further eased the impact of delays to overseas sales plans and weak performance. - FY2024-Q2MitigatedAnnual report
「In the overseas measurement and control business, shipments to the UK increased due to improved conditions for procuring electronic components, while shipments to Oceania also increased. As a result, revenue increased 33.5% year on year to ¥19,559 million. In terms of earnings, in addition to higher revenue, the easing of electronic component prices, which had risen due to procurement difficulties, and other factors resulted in operating profit of ¥276 million, compared with an operating loss of ¥777 million in the same period of the previous year.」
The overseas business increased revenue due to higher shipments to the UK and Oceania and other factors, and improved performance from an operating loss to a profit, further easing the impact of delays to sales plans and weak performance. - FY2024-Q1MitigatedAnnual report
「Shipments to the UK increased as the electronic-component procurement environment improved, while shipments to Oceania also increased steadily. As a result, revenue rose 33.0% year on year to ¥9,581 million, and operating profit was ¥55 million, compared with an operating loss of ¥159 million in the same period a year earlier.」
Shipments to the UK and Oceania increased in the overseas business, resulting in higher revenue and a shift from an operating loss to a profit, which eased the impact of delays to plans and weak performance compared with previous quarters. - FY2023-Q3WorsenedAnnual report
「In the overseas measurement and control business, shipments to Oceania increased steadily compared with the same period of the previous year, while shipments to the UK declined due to difficulties procuring electronic components. Although revenue declined on a US-dollar basis, the functional currency, the impact of yen depreciation resulted in revenue of ¥22,699 million, up 6.1% year on year. In terms of earnings, higher component prices and other factors resulted in an operating loss of ¥1,343 million, compared with operating profit of ¥23 million in the same period of the previous year.」
Although the overseas business increased revenue on a yen basis, it declined on a US dollar basis and shifted to an operating loss due to lower shipments to the UK and higher component prices. - FY2023-Q2WorsenedAnnual report
「In the overseas measurement and control business, shipments to Oceania increased steadily compared with the same period of the previous year, while shipments to the UK declined due to difficulties procuring electronic components. As a result, revenue increased 0.2% year on year to ¥14,647 million. In terms of earnings, higher component prices and other factors resulted in an operating loss of ¥777 million, compared with operating profit of ¥118 million in the same period of the previous year.」
Although the overseas business increased revenue on a yen basis, it reported lower revenue on a US dollar basis and shifted to an operating loss due to lower shipments to the UK and higher component prices. - FY2023-Q1WorsenedAnnual report
「Shipments to the UK declined due to difficulties procuring electronic components, but shipments to Oceania increased steadily and other factors contributed to revenue of ¥7,202 million, up 0.7% year on year. Operating profit was an operating loss of ¥159 million, compared with operating profit of ¥163 million in the same period of the previous year, due to higher raw material prices and transportation costs, as well as increased selling, general and administrative expenses.」
Revenue in the overseas business increased only slightly and the business shifted to an operating loss due to lower shipments to the UK and higher costs, worsening the risk of weak overseas business performance. - FY2022-Q3MitigatedAnnual report
「Shipments to Oceania and the UK increased compared with the same period of the previous year, which was affected by COVID-19. As a result, revenue increased 12.4% year on year to ¥21,395 million, and operating profit was ¥23 million, compared with an operating loss of ¥180 million in the same period of the previous year.」
Higher shipments in the overseas business increased revenue and improved performance from an operating loss to a profit, further easing the impact of past delays to plans and weak performance. - FY2022-Q2MitigatedAnnual report
「Although sales to Iraq's Kurdistan Regional Government, which had contributed to performance in the same period of the previous year, normalized, shipments to Oceania and for the UK project increased compared with the same period of the previous year, which was affected by COVID-19. As a result, revenue increased 13.1% year on year to ¥14,613 million, and operating profit was ¥118 million, compared with an operating loss of ¥224 million in the same period of the previous year.」
Although sales to Iraq's Kurdistan Regional Government declined as they normalized, higher shipments to Oceania and the UK increased overseas revenue and improved performance from an operating loss to a profit. - FY2022-Q1Changing factors behind lower overseas revenue and profit recoveryAnnual report
「Revenue was ¥7,153 million, down 8.5% year on year, as sales to Iraq's Kurdistan Regional Government, which had contributed to performance in the same period of the previous year, normalized. Operating profit increased 637.4% year on year to ¥163 million, due to improved production efficiency accompanying higher shipments for the UK project and lower selling, general and administrative expenses.」
Overseas revenue declined as sales to Iraq's Kurdistan Regional Government, which had contributed in the same period of the previous year, normalized. However, operating profit remained positive and improved significantly due to higher shipments for the UK project and other factors. - FY2021-Q3WorsenedAnnual report
「Shipments to Oceania, the UK and Asia declined. Orders for Iraq's Kurdistan Regional Government and Cambodia also decreased compared with the strong performance in the same period of the previous year. As a result, revenue was ¥19,033 million, a year-on-year decrease of ¥9,352 million, or 32.9%.」
Lower shipments and orders in the overseas electricity meter business spread to projects in Oceania, the UK, Asia and emerging markets, resulting in a 32.9% year-on-year decline in revenue. - FY2021-Q2WorsenedAnnual report
「In the overseas measurement and control business, smart-meter installation stalled in the countries where our Group operates due to lockdowns related to the spread of COVID-19. Shipments to Oceania and Asia declined, while the UK project, for which business expansion had been expected from the current period, remained at the sales level of the same period of the previous year. As a result, revenue was ¥12,916 million, a decline of ¥6,134 million, or 32.2%, year on year. In terms of earnings, although selling, general and administrative expenses declined, the aforementioned revenue decline resulted in an operating loss of ¥224 million, a year-on-year decline in operating profit of ¥786 million, compared with operating profit of ¥561 million in the same period of the previous year.」
Risks of delays to overseas sales plans and weak performance worsened from the previous quarter, reflected in installation delays caused by lockdowns, lower shipments and orders by region, a 32.2% decline in revenue and an operating loss. - FY2021-Q1MaterialisedAnnual report
「In the overseas measurement and control business, smart meter installation has been delayed in the countries where our group operates due to lockdowns associated with the spread of COVID-19, resulting in lower shipments to New Zealand and other destinations with high profit margins. Orders for Iraq's Kurdistan Regional Government and Cambodia also declined compared with the strong performance in the same period of the previous year. As a result, revenue was ¥7,816 million, down 12.6% year on year. Operating profit fell 95.7% year on year to ¥22 million, due to the revenue decline described above and a lower profit margin resulting from changes in the product mix.」
The risks of delays to plans and weak performance in the overseas electricity meter business, which had been easing through the previous fiscal year, materialized again as installation delays caused by COVID-19, lower shipments and orders, a 12.6% decline in revenue and a 95.7% decline in operating profit. - FY2020Profit target missed despite higher overseas revenue due to one-off costsAnnual report
「The profit plan was missed due to the recognition of an inventory valuation loss on components rendered unnecessary by changes to the UK smart meter specifications, as well as higher air freight costs incurred to prioritize delivery deadlines for major customers.」
Although overseas revenue recovered, the profit plan was missed due to inventory valuation losses on components following changes to the UK specifications and higher air freight costs incurred to prioritize delivery deadlines. - FY2020-Q3MitigatedAnnual report
「Overseas, sales increased steadily in Australia, where smart-meter installation is advancing. In addition, shipments of communication hubs and smart meters increased in the UK, while smart-meter projects for the Kurdistan Regional Government in Iraq and Cambodia made a significant contribution in emerging markets, resulting in substantial revenue growth.」
Compared with the previous delays in overseas projects and weak performance, factors supporting higher revenue in Australia, the UK and emerging markets have continued, easing the impact of the risks. - FY2020-Q2MitigatedAnnual report
「Overseas, sales in Australia's eastern states, where smart-meter installation is mandatory, increased steadily. In addition, shipments of communication hubs and other products in the UK increased, while smart-meter projects in the Middle East, which began in the second half of the previous fiscal year, made a significant contribution, resulting in substantial revenue growth.」
Compared with the previous delays in overseas sales plans and weak performance, the factors contributing to higher revenue materialized in Australia, the UK and the Middle East, further easing the impact of the risks. - FY2020-Q1MitigatedAnnual report
「Overseas, shipments increased steadily in Australia, where demand for smart meters is rising, while sales of communications hubs and other products also increased in the UK. Projects in the Middle East made a substantial contribution, resulting in a significant increase in revenue across all regions.」
Compared with the previous delays in overseas sales plans and weak performance, revenue increased significantly in all regions, including Australia, the UK and the Middle East, and the deterioration in overseas business performance eased during the quarter. - FY2019MaterialisedAnnual report
「In the UK, where expansion had been expected from the second half of the fiscal year, sales of communications hubs increased, but full-scale shipments of smart meters were pushed back to the following fiscal year.」
Shipment delays for the UK smart meter project have continued to be reflected in the results. The overseas business has also experienced production delays due to procurement difficulties, and the impact of delays to the plan continues. - FY2019-Q3MaterialisedAnnual report
「Overseas revenue declined because production was delayed by difficulty procuring certain electronic components.」
Risks of supply and production delays in the overseas electricity meter business have been reflected in difficulties procuring electronic components and lower revenue. - FY2019-Q2Continued weakness in overseas order regionsAnnual report
「Overseas revenue from smart meters in Australia and communications hubs in the UK increased, but shipments to New Zealand and emerging markets declined, leaving overseas revenue at roughly the same level as in the same period a year earlier.」
While sales of some regions and products in the overseas business increased, shipments to New Zealand and emerging markets continued to decline, with regional variations in performance reflected in the results. - FY2019-Q1MaterialisedAnnual report
「Revenue declined because orders from Oceania and emerging markets were lower than in the same period of the previous year.」
In the overseas electricity meter business, lower orders from Oceania and emerging markets have been reflected in actual revenue declines. - FY2018Prospects for a UK recovery and rollout delays in some regionsAnnual report
「In overseas electricity meter markets, demand for smart meters in major countries has remained stable, while delays in rollout plans have emerged in some areas, including Africa.」
The disclosure indicates that demand in major countries remains stable, while delays in rollout plans continue in some regions, including Africa. - FY2018-Q3MaterialisedAnnual report
「In overseas electricity meter markets, demand for smart meters in major countries has remained stable, while delays in rollout plans have emerged in some areas, including Africa.」
While demand in major countries remains stable, delays in rollout plans in some areas, including Africa, have been identified as an actual market condition, and uncertainty in the overseas business continues. - FY2018-Q2MaterialisedAnnual report
「Overseas revenue was ¥36,550 million, down 6.7% year on year, due to delays in the UK smart-meter project, a reactionary decline from the strong performance in Oceania in the same period a year earlier and lower sales of products being phased out as smart meters become more widespread in Japan.」
Delays in the UK project, which had not been explicitly identified in the previous quarter, were cited as a factor behind the decline in overseas revenue in the current quarter, indicating that the impact of delays in the sales plan has appeared in actual results. - FY2018-Q1SoftenedAnnual report
「The overseas electricity-meter market has remained stable, particularly in Oceania, while demand for the UK smart-meter project and in some emerging markets is expected to expand from the second half of the fiscal year.」
The management-environment discussion for the current quarter does not repeat the delays in the UK rollout plan described through the previous fiscal year, instead indicating stable conditions in the Oceania market and expected demand growth in the UK and some emerging markets. However, it does not state that the risks have disappeared. - FY2017RestatedAnnual report
「At OUI (OSAKI United International Pte. Ltd.), which operates the global business, some delays have been seen in the UK government's smart-meter rollout plan, and the company plans to continue making upfront investments, including in R&D related to the plan.」
The company continues to cite delays in the UK's smart-meter rollout plan and the burden of upfront investments as sources of uncertainty in the overseas business. - FY2017-Q3RestatedAnnual report
「Although smart-meter rollout plans in some emerging markets have been delayed, demand for smart meters in Oceania and other regions continues to increase.」
While delays in rollout plans continue in some emerging markets, demand is also increasing in Oceania and other regions, and the company continues to describe uncertainty in the overseas business. - FY2017-Q2RestatedAnnual report
「Although smart-meter rollout plans in some emerging markets have been delayed because economic growth in those markets remains sluggish, demand for smart meters is increasing in Oceania and other regions.」
While sluggish economic growth in emerging markets and delays in rollout plans continue, demand is also increasing in Oceania and other regions, and the company continues to describe uncertainty in the overseas business. - FY2017-Q1RestatedAnnual report
「The overseas electricity-meter market remains difficult to predict, with delays in some smart-meter rollout plans and changes in political and economic conditions.」
The overseas electricity-meter business continues to face uncertainty due to delays in rollout plans and political and economic conditions. - FY2016First statedAnnual report
「In the overseas electricity-meter business, some sales plans have been delayed, while a deterioration in the cost ratio due to changes in product mix and higher expenses, including R&D expenses for upfront investments, are weighing on performance.」
Delays in the overseas business plan, a deterioration in the cost ratio and the burden of upfront investments were explicitly cited as factors weighing on performance for the fiscal year.