Earnings Fluctuations Due to Seasonality and the Timing of Acceptance Inspections
First written in FY2016. 13 of 24 entries say "Restated". Latest entry: 2026-03-13.
The whole theme swung hardest in 2020: 10 of 32 companies on the "Worse" side.
20 other companies' latest entry also says "Restated".
- 2026-03-13RestatedEarnings
「Delivery deadlines for orders are concentrated in the second half of the fiscal year, and the current year's sales plan is weighted toward the second half. Because the sales plans for some projects were pushed back from the initial plan, sales are lower than in the same period of the previous year, but progress is in line with the plan established at the beginning of the fiscal year.」
Cumulative third-quarter sales declined because delivery deadlines were concentrated in the second half and some projects were pushed back, but performance remains in line with the second-half-weighted plan. - FY2024-Q1RestatedAnnual report
「Our sales plan for the current fiscal year is weighted toward the second half compared with the first half. Although revenue and profit are down from the same period of the previous year, performance is in line with the plan set at the beginning of the fiscal year.」
Because deliveries of large equipment are concentrated in the second half, we have reconfirmed the seasonality whereby the sales plan is weighted toward the second half. Revenue and profit declined year on year in the first quarter, but performance is in line with the initial plan. - FY2023MitigatedAnnual report
「Sales for the fiscal year exceeded the initial plan, largely because the large orders received in January and April 2022 were delivered and accepted as initially planned.」
In contrast to the delivery and customer acceptance delays that had materialized through the previous fiscal year, large projects were delivered and accepted as planned, resulting in sales exceeding the initial plan. - FY2023-Q3MitigatedAnnual report
「Sales have generally progressed in line with the plan, partly because the large order received in January 2022 was delivered and accepted. The large order received in April of the same year and other orders are also expected to be delivered and accepted by the end of the fiscal year, so there is no change to the full-year earnings forecast at this time.」
In contrast to the delivery and customer acceptance delays that had materialized through the previous quarter, the large order received in January 2022 was delivered and accepted, and sales progressed generally in line with the plan. The order received in April is also expected to be delivered and accepted by the end of the fiscal year. - FY2023-Q2MaterialisedAnnual report
「For some domestic projects, delivery of the Company's products was pushed back to the second half onward because the capital investment plans of the delivery recipients were postponed. As a result, sales for the period fell below the initial plan.」
The postponement of domestic customers' capital investment plans pushed product deliveries into the second half or later, causing sales for the second-quarter cumulative period to fall below the plan. Fluctuations in performance due to delivery and customer acceptance timing have materialized. - FY2023-Q1MaterialisedAnnual report
「Against this operating backdrop, sales for the first-quarter cumulative period fell below the initial plan because delivery dates for some overseas projects were pushed back due to the impact of travel restrictions and other factors. The large orders received in January and April 2022 are currently being assembled at the Company's factory and are scheduled for delivery in sequence from the second half onward, as initially planned.」
Delivery dates for overseas projects were pushed back due to the impact of travel restrictions, causing first-quarter sales to fall below the plan. The large orders are scheduled for delivery from the second half onward. - FY2022MaterialisedAnnual report
「In projects initially planned for the Chinese market, prolonged and severe travel restrictions prevented negotiations from progressing as planned, and large projects were pushed into the following period. As a result, sales for the fiscal year fell below the initial plan.」
Travel restrictions in the Chinese market prevented negotiations from progressing, pushing delivery and revenue recognition for large projects into the following period. Fluctuations in performance due to customer acceptance and delivery timing materialized over the full fiscal year. - FY2022-Q3MaterialisedAnnual report
「For the third-quarter cumulative period, sales fell below the initial plan, mainly because deliveries and installation work for overseas projects took longer due to the continuing travel restrictions, and delivery plans for repeat orders were pushed back because of delays in customers' capital investment.」
For overseas projects, travel restrictions prolonged delivery and installation work, while delays in customers' capital investment pushed back delivery plans for repeat orders. Fluctuations in performance due to delivery and customer acceptance timing materialized as a shortfall against the plan. - FY2022-Q2MitigatedAnnual report
「Sales for the second-quarter cumulative period exceeded the initial plan, partly because some projects were delivered and accepted earlier than initially planned.」
In contrast to the previous risk of sales recognition being delayed by delivery and customer acceptance timing, some projects were delivered and accepted earlier than planned in the quarter, resulting in sales exceeding the plan. - FY2021MaterialisedAnnual report
「The Company's inspection equipment normally takes approximately 4–6 months from order receipt to customer acceptance, and revenue is recognized based on customer acceptance.」
In addition to longer customer acceptance periods, deliveries of overseas projects were delayed because the necessary acceptance arrangements were not in place, and sales fell below the initial plan. Earnings fluctuations due to customer acceptance timing have materialized in actual results. - FY2020Longer customer acceptance periodsAnnual report
「The Company's inspection equipment normally takes approximately 4–6 months from order receipt to customer acceptance, and revenue is recognized based on customer acceptance.」
The description of the customer acceptance period was expanded from "approximately 4 months" to "approximately 4–6 months," indicating a wider range of sales fluctuations due to delivery and customer acceptance timing. - FY2020-Q3RestatedAnnual report
「Demand for the Company's group is concentrated mainly in the fourth quarter of the consolidated fiscal year, when customers' production increases are concentrated. As a result, sales and operating expenses tend to increase significantly in the fourth quarter of the consolidated fiscal year.」
The Company continues to disclose the seasonality whereby demand, sales and operating expenses are concentrated in the fourth quarter, when customers' production increases are concentrated. - FY2020-Q2RestatedAnnual report
「Demand for the Company's group is concentrated mainly in the fourth quarter of the consolidated fiscal year, when customers' production increases are concentrated. As a result, sales and operating expenses tend to increase significantly in the fourth quarter of the consolidated fiscal year.」
The Company continues to disclose the seasonality whereby demand, sales and operating expenses are concentrated in the fourth quarter, when customers' production increases are concentrated. - FY2020-Q1RestatedAnnual report
「Demand for the Company's group is concentrated mainly in the fourth quarter of the consolidated fiscal year, when customers' production increases are concentrated. As a result, sales and operating expenses tend to increase significantly in the fourth quarter of the consolidated fiscal year.」
The Company continues to disclose the seasonality whereby demand, sales and operating expenses are concentrated in the fourth quarter, when customers' production increases are concentrated. - FY2019RestatedAnnual report
「As a result of these factors, revenue recognition tends to be concentrated in the second half, particularly the fourth quarter.」
The Company continues to disclose the seasonality whereby revenue recognition is concentrated in the second half, particularly the fourth quarter, due to the sequence of capital investment planning, ordering, delivery and customer acceptance. - FY2019-Q3RestatedAnnual report
「Demand for the Company's group is concentrated mainly in the fourth quarter of the consolidated fiscal year, when customers' production increases are concentrated. As a result, sales and operating expenses tend to increase significantly in the fourth quarter of the consolidated fiscal year.」
The Company continues to disclose the seasonality whereby demand, sales and operating expenses are concentrated in the fourth quarter, when customers' production increases are concentrated. - FY2019-Q2RestatedAnnual report
「Demand for the Company's group is concentrated mainly in the fourth quarter of the consolidated fiscal year, when customers' production increases are concentrated. As a result, sales and operating expenses tend to increase significantly in the fourth quarter of the consolidated fiscal year.」
The Company continues to disclose the seasonality whereby demand, sales and operating expenses are concentrated in the fourth quarter, when customers' production increases are concentrated. - FY2018RestatedAnnual report
「As a result of these factors, revenue recognition tends to be concentrated in the second half, particularly the fourth quarter.」
The Company continues to disclose the seasonality whereby revenue recognition is concentrated in the second half, particularly the fourth quarter, due to the sequence of capital investment planning, ordering, delivery and customer acceptance. - FY2018-Q3RestatedAnnual report
「Demand for the Company's group is concentrated mainly in the fourth quarter of the consolidated fiscal year, when customers' production increases are concentrated. As a result, sales and operating expenses tend to increase significantly in the fourth quarter of the consolidated fiscal year.」
The Company continues to disclose the seasonality whereby demand, sales and operating expenses are concentrated in the fourth quarter. - FY2018-Q2RestatedAnnual report
「Demand for the Company's group is concentrated mainly in the fourth quarter of the consolidated fiscal year, when customers' production increases are concentrated. As a result, sales and operating expenses tend to increase significantly in the fourth quarter of the consolidated fiscal year.」
The Company continues to disclose the seasonality whereby demand, sales and operating expenses are concentrated in the fourth quarter. - FY2018-Q1RestatedAnnual report
「Demand for the Company's group is concentrated mainly in the fourth quarter of the consolidated fiscal year, when customers' production increases are concentrated. As a result, sales and operating expenses tend to increase significantly in the fourth quarter of the consolidated fiscal year.」
The Company continues to disclose the same seasonality, with demand, sales and operating expenses concentrated in the fourth quarter. - FY2017-Q2RestatedAnnual report
「Demand for the Company's group is concentrated mainly in the fourth quarter of the consolidated fiscal year, when customers' production increases are concentrated. As a result, sales and operating expenses tend to increase significantly in the fourth quarter of the consolidated fiscal year.」
The Company continues to disclose the seasonality whereby demand, sales and operating expenses are concentrated in the fourth quarter, when customers' production increases are concentrated. - FY2017-Q1MaterialisedAnnual report
「However, because many of the current orders were scheduled for delivery from the second quarter onward, sales for the first-quarter cumulative consolidated period remained low.」
The timing gap between order receipt and delivery and customer acceptance resulted in low first-quarter sales in the AOI and AVI businesses, demonstrating that the risk of earnings fluctuations had materialized in the quarter. - FY2016MaterialisedAnnual report
「The Company's inspection equipment normally takes approximately 4 months from order receipt to customer acceptance, and revenue is recognized based on customer acceptance. Accordingly, specifications or delivery schedules may change as a result of changes to customers' capital investment plans or business policies.」
The Company states that the process from order receipt to delivery and customer acceptance takes approximately 4 months, and that the delivery timing for domestic orders was carried over to the following period, resulting in lower sales. This was treated as the materialization of the risk.