Large-Scale Project Order Intake, Profitability and Cash Management Risks
First written in FY2016. 20 of 22 entries say "Materialised", first in FY2018. Latest entry: FY2026.
Media Links moved to the "Worse" side of this theme in 2018, 1 year before the typical company in this theme (2019).
The whole theme swung hardest in 2019: 5 of 9 companies on the "Worse" side.
4 other companies' latest entry also says "Materialised".
- FY2026MaterialisedAnnual report
「Revenue in the EMEA market declined significantly from the same period of the previous year because multiple large projects that had been scheduled were postponed due to the effects of Israel's and the United States' military actions against Iran.」
Several planned large projects were postponed, resulting in a substantial decline in sales in the EMEA market. Dependence on the timing of orders and revenue recognition for large projects appeared in full-year results. - 2026-05-14MaterialisedOccurring Fact
「The Asia market recorded lower revenue than in the same period of the previous year, reflecting the absence of major projects both in Japan and overseas.」
The absence of large projects translated directly into lower regional revenue, demonstrating the full-year results' dependence on large projects. - FY2025MaterialisedAnnual report
「This was due to the absence in the current period of a large project such as the one in the same period of the previous year, a substantial delay in the validation of the Company's new products by a major telecommunications operator, its main business partner, and delays or freezes in companies' capital investment decisions attributable to U.S. trade policy, among other factors.」
The absence of large projects and delays or freezes in capital investment decisions appeared as a full-year decline in sales in the Americas market. - FY2025-H1MaterialisedAnnual report
「Meanwhile, revenue in the North American market decreased significantly from the same period of the previous year. This was because there were no large-scale projects during the current period comparable to those in the same period of the previous year.」
The large project undertaken in the same period of the previous year was absent in the current period, resulting in a substantial decline in sales in the North American market. Dependence on large projects continues to be reflected in results. - FY2024-Q3MaterialisedAnnual report
「Revenue in the Asian market decreased from the same period of the previous year because there were no sales from large-scale projects. Revenue in the North American market increased from the same period of the previous year, mainly because large-scale projects were under way at major telecommunications carriers.」
While sales in Asia declined because there were no sales from large projects, sales in North America increased as large projects progressed, and dependence on individual large projects continues. - FY2024-Q2MaterialisedAnnual report
「Revenue in the Asian market decreased from the same period of the previous year because there were no sales from large-scale projects. Revenue in the North American market increased from the same period of the previous year, mainly because large-scale projects were under way at major telecommunications carriers.」
While sales in Asia declined because there were no sales from large projects, sales in North America increased as large projects progressed, and continued dependence on individual large projects has appeared in performance. - FY2024-Q1MaterialisedAnnual report
「Revenue in the Asian market declined from the same period of the previous year because there were no large-scale project sales, although order backlog increased significantly due to the impact of orders received for large-scale projects. Revenue in the North American market increased from the same period of the previous year because a large-scale project was under way for a major telecommunications operator.」
While sales in Asia declined due to the timing of revenue recognition for large projects, sales in North America increased as large projects progressed. Sales fluctuations driven by dependence on large projects are continuing. - FY2023MaterialisedAnnual report
「Sales in the Asian market declined from the previous consolidated fiscal year. This was due to the impact of sales recorded in Korea in the previous consolidated fiscal year for network renewal projects for 2 major broadcasters.」
The Korean renewal project for a major broadcaster recorded in the previous fiscal year was absent in the current period, and sales fluctuations arising from the presence or absence of individual large projects appeared as a full-year decline in sales in the Asian market. - FY2023-Q3MaterialisedAnnual report
「Sales in the Asian market declined from the same period of the previous year. This was due to the impact of sales recorded in Korea in the same period of the previous year for a project for a major broadcaster.」
The project for a major Korean broadcaster recorded in the same period of the previous year was absent in the current period, and sales fluctuations arising from the presence or absence of individual large projects appeared as a decline in sales in the Asian market. - FY2023-Q2MaterialisedAnnual report
「Sales in the Asian market declined from the same period of the previous year. This was due to the impact of sales recorded in Korea in the same period of the previous year for a project for a major broadcaster.」
The project for a major Korean broadcaster recorded in the same period of the previous year was absent in the current period, and sales fluctuations arising from the presence or absence of individual large projects appeared as a decline in sales in the Asian market. - FY2022MaterialisedAnnual report
「Revenue in the North American market declined from the previous consolidated fiscal year because there were no large-scale capital investment projects for major customers like those in the previous consolidated fiscal year.」
The absence of large capital investment projects in the previous period and the freezing of EMEA projects meant that the presence or absence of individual large projects affected sales by region. - FY2022-Q3RestatedAnnual report
「Revenue in the North American market increased from the same period of the previous year because the company received a new capital investment project order from a major telecommunications operator and recognized revenue from part of it.」
The company continues to show that individual large-scale and capital investment projects affect results through orders for new capital investment projects from major telecommunications operators and the recording of some related sales. - FY2022-Q2MaterialisedAnnual report
「Revenue in Asia increased year on year because the company was able to record sales from a project for a broadcaster in South Korea. ……Revenue in EMEA declined year on year.」
While revenue from a project for a South Korean broadcaster contributed to higher revenue in Asia, EMEA revenue declined, with sales fluctuations due to the presence or absence of large-scale and individual projects continuing. - FY2022-Q1MaterialisedAnnual report
「In North America, sales to major customers were almost unchanged from the same period of the previous year, but revenue increased because a new capital investment project ordered in the previous period continued.」
The continuation of the new capital investment project ordered in the previous period contributed to higher revenue in North America, with sales fluctuations resulting from the presence or absence of large-scale capital investment projects also reflected in the current quarter. - FY2021MaterialisedAnnual report
「Revenue in North America increased compared with the previous consolidated fiscal year. Although ordinary demand from major customers was flat, revenue increased substantially because the company won orders for new capital investment projects.」
While North American revenue increased due to orders for large-scale capital investment projects, revenue in Asia declined because there were no large-scale projects, with fluctuations in sales resulting from the presence or absence of such projects reflected in full-year results. - FY2021-Q3MaterialisedAnnual report
「Revenue in the Asian market declined from the same period of the previous year because, although the Japanese market recorded sales from Olympic-related projects in the previous fiscal year, there were no such sales in the current fiscal year. Revenue in the North American market increased from the same period of the previous year because the company received a new capital investment order from a major telecommunications operator and recognized revenue from part of it.」
The disclosure cites lower revenue in Asia due to the absence of large-scale event projects in the previous period and orders for new capital investment projects in North America, with sales fluctuations resulting from the presence or absence of large-scale projects reflected in current-period results. - FY2020-Q3MaterialisedAnnual report
「Revenue in EMEA declined because there were no large-scale projects such as the FIFA World Cup in Russia in the same period of the previous year. Revenue in Asia, including Japan, declined because, although there were sales from projects related to the Tokyo Olympics, there were no sales from large-scale projects for cable television operators or broadcasters like those in the same period of the previous year.」
The absence of large-scale projects in the same period of the previous year and differences in the sales mix of large-scale projects by region resulted in lower revenue in EMEA and Asia, including Japan. - FY2020-Q2MaterialisedAnnual report
「Revenue in EMEA declined because there were no large-scale projects such as the FIFA World Cup in Russia in the same period of the previous year. Revenue in Japan declined year on year, partly because the main sales are expected in the second half.」
Dependence on large-scale projects and project timing was reflected in first-half revenue declines due to the reaction to the large-scale project in the previous period and the expected concentration of revenue in the second half. - FY2020-Q1MaterialisedAnnual report
「This was because there was no large-scale event comparable to the Russia World Cup held in the same period of the previous year, and because the main sales for the current period are expected from the second half onward.」
First-quarter revenue declined because of the reaction to the large-scale event in the same period of the previous year and the expected concentration of main sales in the second half, bringing dependence on large-scale projects and events to the fore. - FY2019MaterialisedAnnual report
「Overall purchasing activity, including that of other customers, declined substantially because there were few network expansions and new services. In addition, several customer projects were delayed and carried over into the following fiscal year.」
The suspension of purchasing activity by major customers, fewer network expansions and new services, and projects carried over to the following period occurred, with dependence on large-scale projects and capital investment plans materializing as lower revenue. - FY2018MaterialisedAnnual report
「Revenue declined year on year because there were fewer large-scale projects, such as the U.S. presidential election and the Olympics, … some capital investment plans were delayed in execution, and customers revised their capital investment plans for projects in Latin America, among other factors.」
Fewer large-scale projects and delays in or revisions to capital investment plans materialized as lower revenue in North America and elsewhere, bringing the risk of dependence on large-scale projects to the fore. - FY2016First statedAnnual report
「The order value of a single project may be large relative to the company's historical revenue scale.」
The company discloses that the success or failure of orders, progress spanning fiscal years, upfront cash outflows, profitability management and the production capacity of subcontractors could materially affect results.