Reliance on equipment replacement cycles and new demand
First written in FY2016. 29 of 33 entries say "Materialised", first in FY2017-Q3. Latest entry: FY2026.
Media Links moved to the "Worse" side of this theme in 2017, 2 years before the typical company in this theme (2019).
The whole theme swung hardest in 2019: 13 of 26 companies on the "Worse" side.
2 other companies' latest entry also says "Materialised".
- FY2026MaterialisedAnnual report
「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-scale projects and postponements of projects in the EMEA market continued to be reflected in full-year regional revenue declines, demonstrating dependence on the equipment replacement and individual project cycles. - FY2026-H1MaterialisedAnnual report
「Revenue in the Australian market decreased slightly from the same period of the previous year, mainly because equipment sales declined.」
Fluctuations in equipment replacement and hardware sales continued to be reflected in a slight year-on-year decline in the Australian market. Meanwhile, revenue increased in the Asian and Americas markets. - FY2025MaterialisedAnnual report
「Meanwhile, revenue in the Americas market decreased significantly from the same period of the previous year. This reflected the absence during the current period of large-scale projects comparable to those in the same period of the previous year, significant delays in validating the Company's new products at major telecommunications carriers, its key customers, and delays or freezes in companies' capital investment decisions resulting from U.S. trade policy, among other factors.」
The absence of large-scale projects, delays in validating new products at key customers, and delays or freezes in capital investment decisions were reflected in a significant decline in revenue 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.」
Large-scale projects that existed in the same period of the previous year were absent during the current period, resulting in a significant decline in revenue in the North American market. Dependence on the large-scale project and capital investment cycles has become evident in the 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. In Australia, the Company continued to provide maintenance support services, as in the previous period, but revenue decreased from the same period of the previous year because equipment sales declined.」
Regional performance in Asia, North America and Australia fluctuated with the presence or absence of large-scale projects and changes in customer equipment and hardware sales, with continued results reflecting dependence on the equipment replacement and project cycles. - 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.」
The presence or absence and progress of large-scale projects resulted in lower revenue in Asia and higher revenue in North America, with continued results reflecting dependence on the equipment replacement and large-scale project cycles. - 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.」
In Asia, the absence of large-scale projects resulted in lower revenue, while in North America, progress on large-scale projects contributed to higher revenue. Regional performance fluctuations driven by capital investment and the presence or absence of large-scale projects continue to be reflected in results. - FY2023MaterialisedAnnual report
「Revenue in the Asian market declined from the previous consolidated fiscal year due to the effect of revenue recognized in the previous consolidated fiscal year from network replacement projects for 2 major broadcasters in Korea. Revenue in the North American market increased from the previous consolidated fiscal year because sales to a major telecommunications operator, a key customer, remained firm. Revenue in the Australian market declined from the previous consolidated fiscal year because hardware sales decreased, although maintenance support services remained approximately flat.」
The impact of large-scale replacement projects in the previous fiscal year, sales to major customers and lower hardware sales in Australia were reflected in regional performance, with dependence on equipment replacement and individual project cycles continuing to be evident in full-year results. - FY2023-Q3MaterialisedAnnual report
「Revenue in the Asian market declined from the same period of the previous year due to the effect of revenue recognized from a project for a major broadcaster in Korea in the same period of the previous year. Revenue in the North American market increased from the same period of the previous year due to higher sales to a major telecommunications operator. Revenue in the Australian market declined from the same period of the previous year due to lower hardware sales to major customers.」
The impact of the Korean project in the same period of the previous year, fluctuations in sales to major customers and lower hardware sales in the Australian market were reflected in regional results, with dependence on equipment replacement and individual project cycles continuing to materialize. - FY2023-Q2MaterialisedAnnual report
「Revenue in the Asian market declined from the same period of the previous year due to the effect of revenue recognized from a project for a major broadcaster in Korea in the same period of the previous year. Revenue in the North American market also declined from the same period of the previous year due to lower sales to a major telecommunications operator.」
The decline in revenue in Asia and North America continued to reflect dependence on equipment replacement and individual project cycles, due to the impact of the Korean project for a major broadcaster in the same period of the previous year and lower sales to major telecommunications operators. - 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 North American market recorded lower revenue in the absence of the large-scale capital investment projects of the previous fiscal year, reflecting dependence on equipment replacement and large-project cycles in full-year results. - 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 receipt and recognition of revenue from a new capital investment project for a major telecommunications operator continues to demonstrate a business structure in which the presence or absence of capital investment projects affects performance. - FY2022-Q2MaterialisedAnnual report
「Revenue in the Asian market increased from the same period of the previous year because the company was able to recognize revenue from a project for a broadcaster in Korea. Revenue in the North American market was approximately unchanged from the same period of the previous year because, although sales to a major customer declined, sales to other customers increased. Revenue in the Australian market was approximately unchanged from the same period of the previous year due to the continued maintenance support contract with a major customer. Revenue in the EMEA market declined from the same period of the previous year.」
The recognition of revenue from a project for a Korean broadcaster, fluctuations in sales by customer and lower revenue in the EMEA market were reported, with dependence on capital investment and project cycles continuing to be reflected in regional results. - FY2021MaterialisedAnnual report
「Revenue in the Asian market declined from the previous consolidated fiscal year because there were no large-scale new capital investment projects like those in the previous fiscal year, while customer demand for equipment replacement remained at a certain level.」
The absence of large-scale projects, an interim period between equipment replacement demand cycles and the carryover of projects in Korea into the following fiscal year resulted in dependence on equipment replacement and project cycles materializing as lower revenue in the Asian market for the full year. - 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.」
Lower revenue in the Asian market following large projects in the previous fiscal year and the receipt and recognition of revenue from a new capital investment project in North America were reported together, with dependence on capital investment and project cycles reflected in cumulative quarterly results. - FY2020-Q3MaterialisedAnnual report
「Revenue in the North American market increased from the same period of the previous year as the market recovered from the purchasing slowdown caused by M&A involving a major customer. Revenue in the Australian market declined from the same period of the previous year. This was due to a review of maintenance support pricing and a decline in hardware product sales as major customers reduced investment in equipment upgrades. Revenue in the EMEA market declined because there was no large-scale project comparable to the Russia World Cup in the same period of the previous year. Revenue in Asian markets, including Japan, declined because, despite sales from projects related to the Tokyo Olympic Games, there were no large-scale projects for cable television operators and broadcasters comparable to those in the same period of the previous year.」
Lower investment by customers in equipment upgrades, the absence of large-scale projects and differences in the project mix from the same period of the previous year materialized as lower revenue in the Australian, EMEA and Asian markets, including Japan. In North America, the recovery from the purchasing slowdown caused by M&A involving a major customer was noted. - FY2020-Q2MaterialisedAnnual report
「Revenue in the North American market increased from the same period of the previous year as purchasing activity by major customers, which had been depressed by M&A, began to recover. Revenue in the Australian market declined from the same period of the previous year due to a review of maintenance support pricing. Revenue in the EMEA market declined because there was no large-scale project comparable to the Russia World Cup in the same period of the previous year. Revenue in the Japanese market declined year on year, partly because the main sales are expected in the second half.」
Dependence on the presence of large-scale projects, the timing of revenue recognition and customer purchasing activity was reflected in first-half results as lower revenue in the EMEA, Japanese and Australian markets. - 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.」
The effects of the large-scale event in the same period of the previous year and the concentration of revenue recognition in the second half resulted in dependence on equipment and project cycles being reflected as lower first-quarter revenue. - FY2019MaterialisedAnnual report
「The main factor was the temporary interruption of purchasing activity by major customers due to M&A issues. Although purchasing resumed in 2019, it was insufficient to make up for the decline, and sales fell. In addition, several customer projects were delayed and carried over into the following fiscal year.」
The interruption of purchasing by major customers and the delay and carryover of multiple projects into the following fiscal year resulted in the dependence on capital investment and project cycles materializing as lower revenue in the North American market for the full year. - FY2019-Q3MaterialisedAnnual report
「Revenue in the North American market declined from the same period of the previous year because the implementation of capital investment plans by some customers was delayed.」
Delays in the implementation of customers' capital investment plans led to lower revenue in the North American market, and dependence on equipment replacement and new demand cycles was reflected in cumulative nine-month results. - FY2019-Q2MaterialisedAnnual report
「Sales in the North American market declined from the same period of the previous year because the implementation of capital investment plans by some customers was delayed.」
Delays in the implementation of customers' capital investment plans led to lower sales in the North American market, and dependence on equipment replacement and new demand cycles was reflected in cumulative second-quarter results. - FY2019-Q1MaterialisedAnnual report
「Revenue in the North American market declined from the same period of the previous year because the implementation of capital investment plans by some customers was delayed.」
Delays in the implementation of customers' capital investment plans led to lower revenue in the North American market, and dependence on equipment replacement and new demand cycles was reflected in first-quarter results. - FY2018MaterialisedAnnual report
「Against this backdrop, demand in the North American market remained firm for remote production, in which broadcasters control filming and editing that had traditionally been conducted at stadiums. However, revenue declined from the same period of the previous year because of fewer large-scale projects, such as those related to the US presidential election and the Olympic Games, as well as fundamental changes in the capital investment policies of major customers. Revenue in the Australian market declined from the same period of the previous year because changes in customers' investment plans made it difficult to expand sales of the company's products.」
Lower revenue caused by fewer large-scale projects, changes in major customers' capital investment policies and changes in Australian customers' investment plans materialized in full-year results. - FY2018-Q3MaterialisedAnnual report
「Demand in the North American market remained firm for remote production, in which broadcasters control filming and editing that had traditionally been conducted at stadiums. However, revenue declined from the same period of the previous year because there were fewer large-scale projects, such as those related to the US presidential election and the Olympic Games. Revenue in the Australian market also declined from the same period of the previous year because changes in customers' investment plans made it difficult to expand adoption of the company's products.」
Lower revenue in the North American and Australian markets due to fewer large-scale projects and changes in customers' investment plans reflected dependence on project and capital investment cycles in cumulative nine-month results. - FY2018-Q2MaterialisedAnnual report
「However, revenue declined from the same period of the previous year as demand remained weak this fiscal year following the large number of major projects in the previous fiscal year. The Australian market was below the same period of the previous year because changes in customers' investment plans delayed the construction of new networks.」
Lower demand following the decline in large-scale projects and lower revenue in the Australian market due to changes in customers' investment plans showed the dependence on capital investment and project cycles in first-half results. - FY2018-Q1MaterialisedAnnual report
「Demand in the North American market remained firm for remote production, in which broadcasters control filming and editing that had traditionally been conducted at stadiums, and sales to new customers increased. However, sales were lower than in the previous year because there were fewer large-scale projects, such as those related to the US presidential election and the Olympic Games. The Australian market was also lower than in the previous year due to the effects of demand having run its course.」
The Australian market continued to fall short of the previous year as demand ran its course, while the North American market also fell below the previous year due to fewer large-scale projects. Dependence on capital investment and project cycles was reflected in results for the quarter. - FY2017MaterialisedAnnual report
「The Australian market, which had driven performance together with the North American market through the previous fiscal year, recorded lower revenue because demand had run its course and changes to customers' capital investment plans resulted in scheduled investments being postponed or put on hold.」
The risk associated with the cyclical nature of equipment replacement and new demand materialized for the full year as lower revenue in the Australian market following the completion of demand and the postponement or suspension of capital investment. - FY2017-Q3MaterialisedAnnual report
「The Australian market was significantly below the previous year's results due to the completion of a period of strong demand.」
The risk associated with the cyclical nature of equipment replacement and new demand materialized in the Australian market as a decline in sales following the completion of a period of strong demand. - FY2016First statedAnnual report
「Equipment is replaced once every 4 to 5 years by telecommunications operators and once every 8 to 10 years by broadcasters.」
The company explains that it is difficult to generate recurring large orders from equipment once installed, making it necessary to continuously win demand for new installations and replacements.