Decline and phaseout of older products as smart meters become more widespread
First written in FY2018-Q1. 6 of 23 entries say "Advanced", first in FY2023-Q3. Latest entry: 2026-08-04.
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- 2026-08-04AdvancedEarnings presentation
「● 第２世代スマートメーターへの切り替えにより前年度比増収見込み （前年度４Qより本格導入）」
第1世代から第2世代への切替えが、通期の増収見込みとして具体化した。 - FY2026AdvancedAnnual report
「In addition to capturing the final demand for first-generation smart meters, full-scale shipments of second-generation smart meters began in the fourth quarter of fiscal 2025.」
The business moved from the phaseout of older-generation products and the demand trough into a transition phase in which final demand for first-generation products was captured while shipments of second-generation products began. - FY2025-H1RestatedAnnual report
「The smart meter business posted a slight decline because demand was in a trough until the introduction of second-generation smart meters, although」
The demand trough following the peak-out in conventional replacement demand continued and remained a factor behind the slight decline in the smart meter business. - FY2024RestatedAnnual report
「In the domestic measurement and control business, sales declined slightly year on year because demand in the smart meter business was in a trough until the introduction of second-generation smart meters, although」
Full-year results confirmed a demand trough until the introduction of second-generation smart meters and a slight decline in the smart meter business. - FY2024-Q3AdvancedAnnual report
「In the domestic measurement and control business, revenue increased 3.7% year on year to ¥38,897 million, driven by higher revenue from the smart meter and switchboard businesses.」
Sales in the smart meter business continued to increase, and total sales in the domestic measurement and control business rose 3.7% year on year. - FY2024-Q2AdvancedAnnual report
「In the domestic measurement and control business, revenue increased 3.1% year on year to ¥25,022 million, owing to higher revenue from the smart meter business.」
The domestic measurement and control business improved from the demand trough and lower-sales phase through the previous year, with sales rising 3.1% year on year due to higher sales in the smart meter business. - FY2024-Q1AdvancedAnnual report
「In the domestic measurement and control business, sales increased year on year due to higher sales in the smart meter business, with net sales rising 1.1% year on year to ¥11,975 million.」
In the domestic measurement and control business, the smart meter business reported higher sales, and total business sales also rose 1.1% year on year. - FY2023-Q3AdvancedAnnual report
「In the domestic measurement and control business, revenue increased 16.3% year on year to ¥37,517 million and operating profit increased 161.8% to ¥2,186 million, owing to higher revenue from the smart meter and solutions businesses.」
The domestic measurement and control business, including smart meters, posted a 16.3% year-on-year increase in sales and a 161.8% increase in operating income, continuing its improvement from the demand trough and lower-sales phase through the previous year. - FY2023-Q2Sales growth across domestic businessesAnnual report
「In the domestic measurement and control business, revenue increased 13.4% year on year to ¥24,276 million, owing to higher revenue from the smart meter, solutions, and switchboard businesses.」
Following the slight decline and lower-sales phase in smart meter sales through the same period of the previous year, all businesses in the domestic measurement and control business, including smart meters, reported higher sales. - FY2022-Q3Smart meter sales reversed to a declineAnnual report
「In the domestic measurement and control business, revenue declined 4.6% year on year to ¥32,248 million, owing to lower smart meter revenue and a decline in revenue from smart locks for rental properties, which had been shipped in significant volume in the same period of the previous year.」
Smart meter sales, which had been expected to remain at the same level as or increase slightly from the same period of the previous year, declined and became a factor behind the lower sales in the domestic measurement and control business. - FY2022-Q2Slight increase in smart meter sales and lower smart lock salesAnnual report
「In the domestic measurement and control business, smart meter sales rose slightly year on year, but net sales fell 4.0% year on year to ¥21,405 million due to lower sales of smart locks for rental properties, which had been shipped in volume during the same period of the previous year, among other factors.」
In the domestic measurement and control business, smart meter sales increased slightly, but total business sales fell 4.0% due to the reactionary decline in smart lock shipments for rental properties, which had been shipped in volume during the same period of the previous year, among other factors. - FY2022-Q1Flat smart meter sales and lower smart lock salesAnnual report
「Smart meter sales were in line with the same period of the previous year, but net sales fell 4.3% year on year to ¥10,614 million due to lower sales of smart locks for rental properties, which had been shipped in volume during the same period of the previous year, among other factors.」
While smart meter sales were in line with the same period of the previous year, the domestic measurement and control business reported lower sales due to the reactionary decline in smart lock shipments for rental properties, among other factors. - FY2021-Q3Continued decline in orders due to demand passing its peak and the spread of COVID-19Annual report
「Smart meter demand passed its peak, and installations were delayed due to the spread of COVID-19, resulting in a decline in orders.」
In addition to the demand trough accompanying the spread of smart meters, installation delays caused by the spread of COVID-19 continued to drive the decline in orders. - FY2021-Q2Quantification of the sales decline due to a demand trough and deferred ordersAnnual report
「Amid the expected trough in smart meter demand from the previous fiscal year through the fiscal year ending March 2024, sales declined mainly because the spread of COVID-19 delayed smart meter installations, prompting customers to defer orders. As a result, net sales fell ¥1,843 million, or 7.6%, year on year to ¥22,308 million. On the earnings side, although selling, general and administrative expenses declined, operating income fell ¥379 million, or 28.6%, year on year to ¥948 million due to the aforementioned sales decline.」
The domestic business’s sales decline due to a trough in smart meter demand and deferred customer orders was quantified as a 7.6% decline in sales and a 28.6% decline in operating income. - FY2021-Q1Sales decline due to a demand trough and deferred ordersAnnual report
「Amid the expected trough in smart meter demand from the previous fiscal year through the fiscal year ending March 2024, revenue declined mainly because customers postponed smart meter orders due to the spread of COVID-19.」
Following the phaseout of legacy products as smart meters became more widespread, a trough in replacement demand and order deferrals due to COVID-19 reduced sales in the domestic measurement and control business. - FY2020-Q3Domestic demand past its peak, with sales decline continuingAnnual report
「In the measurement and control equipment business segment, revenue declined in Japan as demand to replace the main product, smart meters, passed its peak while the plan to complete smart meter installation for all households by fiscal 2024 was progressing, with lower prices also having an impact.」
While the plan to complete the nationwide rollout progressed, sales continued to decline in Japan due to the peak-out in replacement demand and lower prices. - FY2020-Q2Domestic demand past its peak, with sales decline continuingAnnual report
「In the measurement and control equipment business segment, revenue declined in Japan as demand to replace the Group’s main product, smart meters, passed its peak while the nationwide smart meter rollout was progressing toward completion by fiscal 2024, with lower prices also having an impact.」
While the plan to complete the nationwide rollout progressed in Japan, the decline in sales continued as replacement demand for smart meters passed its peak and prices fell. - FY2020-Q1Domestic demand past its peak, with sales decline continuingAnnual report
「In Japan, as the plan to complete the nationwide rollout of smart meters by fiscal 2024 progressed, replacement demand for our Group’s core smart meter products passed its peak. The impact of lower prices also contributed to the decline in sales.」
While the plan to complete the nationwide smart meter rollout progressed in Japan, domestic sales continued to decline year on year due to the peak-out in replacement demand and lower prices. - FY2019Continued year-on-year decline in domestic salesAnnual report
「Demand for the core smart meter products remained high in Japan, and inventory adjustments at certain power companies eased in the second half. However, sales did not reach the level of the strong previous fiscal year.」
Although high smart meter demand continued and inventory adjustments eased, domestic sales fell below the strong level recorded in the previous fiscal year. - FY2018Continued full-year sales declineAnnual report
「Consolidated net sales fell 8.6% year on year to ¥78.78 billion, due to the postponement of the UK smart meter project, declining sales in emerging markets, lower domestic smart meter sales, and declining sales of products being phased out as smart meters became more widespread.」
The full-year decline in sales of legacy and discontinued products continued as smart meters became more widespread, while the postponement of projects in the UK and lower smart meter sales in emerging markets and Japan also contributed. - FY2018-Q3Continued sales decline, with emerging-market factors addedAnnual report
「Consolidated revenue was ¥56,741 million, down 6.5% year on year, due to delays in the UK smart-meter project, lower sales in emerging markets and declining sales of products being phased out as smart meters become more widespread in Japan.」
Sales of discontinued products continued to decline as smart meters became more widespread. The postponement of projects in the UK and declining sales in emerging markets also contributed, and consolidated net sales continued to fall. - FY2018-Q2Wider decline in salesAnnual report
「Consolidated revenue was ¥36,550 million, down 6.7% year on year. Revenue from the core domestic electricity-meter business remained firm, but overseas revenue declined due to delays in the UK smart-meter project and a reactionary decline from the strong performance in Oceania a year earlier, as well as lower sales of products being phased out as smart meters become more widespread in Japan.」
Sales of discontinued products continued to decline as smart meters became more widespread, while overseas factors also contributed to a 6.7% year-on-year decline in consolidated net sales. - FY2018-Q1First statedAnnual report
「Consolidated revenue was ¥18,131 million, down 1.2% from the same quarter of the previous year, mainly because revenue from products being phased out as smart meters become widespread declined, although revenue from the core electricity meter business remained firm.」
As smart meters became more widespread, sales of discontinued products such as mechanical electricity meters and time switches declined. Consequently, consolidated net sales fell 1.2% year on year despite solid sales of the core electricity meters.