Revenue decline as corporate PC refresh demand runs its course
First written in FY2021-Q1. 3 of 4 entries say "Worsened", first in FY2021-Q3. Latest entry: FY2022.
Nec moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
The whole theme swung hardest in 2020: 4 of 6 companies on the "Worse" side.
2 other companies' latest entry also says "Worsened".
- FY2022WorsenedAnnual report
「Revenue from the Social Infrastructure business decreased by ¥42.0 billion, or 6.1%, from the previous consolidated fiscal year to ¥650.9 billion, due mainly to the end of demand for PCs for educational institutions following the government’s GIGA School initiative, as well as lower revenue from the media sector.」
Following corporate PCs, the end of demand for PCs for educational institutions, driven by the GIGA School initiative, became a factor behind the full-year revenue decline. - FY2022-Q3WorsenedAnnual report
「Revenue from the Social Infrastructure business decreased by ¥15.3 billion, or 3.3%, year on year to ¥445.2 billion, due mainly to the end of demand for PCs for educational institutions following the government’s GIGA School initiative, as well as lower revenue from the media sector.」
Following corporate PCs, the end of demand for PCs for educational institutions, driven by the GIGA School initiative, also became a factor behind the revenue decline, with Social Infrastructure revenue down 3.3%. - FY2021-Q3WorsenedAnnual report
「Revenue from the Enterprise business decreased by ¥54.7 billion, or 13.4%, year on year to ¥354.4 billion, due to lower revenue from large projects recorded in the same period of the previous year, the end of corporate PC replacement demand, and restrained IT investment in the manufacturing and distribution and services sectors.」
In addition to the end of corporate PC replacement demand, restrained IT investment in the manufacturing and distribution and services sectors was identified as a new factor behind the revenue decline, with revenue from the Enterprise business down 13.4%. - FY2021-Q1MaterialisedAnnual report
「Revenue from the Social Infrastructure business decreased by ¥12.4 billion, or 14.2%, year on year to ¥74.8 billion, due to lower revenue from the healthcare and public sectors, as well as the end of corporate PC replacement demand. Revenue from the Enterprise business decreased by ¥22.6 billion, or 16.4%, year on year to ¥115.0 billion, due to lower revenue from large projects in the distribution and services and financial sectors that had been recorded in the same period of the previous year, as well as the end of corporate PC replacement demand.」
The end of corporate PC replacement demand was cited as a factor behind revenue declines in the Social Infrastructure and Enterprise businesses, which saw year-on-year declines of 14.2% and 16.4%, respectively.