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Aiphone (6718) · FactWeak North American sales due to intensifying competition and slower capital investment

Stagnant order growth for large projects in North America

First written in FY2018-Q3. 2 of 7 entries say "Advanced", first in FY2020-Q3. Latest entry: FY2025.

7entries
8years
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How it moved
ProgressHeldSoftenedWorseFirst statedFY2018-Q3 – FY2020-Q2AdvancedFY2020-Q3AdvancedFY2022-Q12018: 120182019: 120192020: 120202021: 220212022: 020222023: 020232024: 120242025: 12025
Same theme, other companies
Earnings volatility due to concentration of orders for large projectsA theme 20 companies write about · 20 as a headwind · 0 as a tailwind

The whole theme swung hardest in 2019: 6 of 11 companies on the "Worse" side.

0 other companies' latest entry also says "Other".

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Showing 14 of the 20 companies compared. The sentences above are computed from all 20.
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  1. FY2025Weak North American sales due to intensifying competition and slower capital investmentAnnual report

    「Although proposal activities for core video door phones targeting small and medium-sized properties were successful, sales declined following the previous year's increase in revenue from the resolution of back orders, while aggressive pricing by competitors intensified in urban areas on the East Coast, the center of the multi-unit residential market, making sales difficult.」

    Although proposals for small and medium-sized properties produced results, North American sales struggled due to the reaction to the resolution of the previous year's back orders and aggressive pricing in urban areas on the East Coast.
  2. FY2025-H1Successful proposals for small and medium-sized properties and an update on sales trends excluding large projectsAnnual report

    「Although proposals for core video doorphones for small- and medium-sized properties proved effective, local-currency revenue declined substantially because sales fell from the high level in the same period of the previous year following the elimination of back orders, and intensified price competition from competitors in the urban East Coast multifamily housing market made sales difficult.」

    In North America, proposal activities for small and medium-sized properties were successful, while sales struggled due to the reaction to the resolution of the previous year's back orders and aggressive pricing.
  3. FY2022-Q1AdvancedAnnual report

    「At Aiphone Corporation, its US sales subsidiary, although construction delays were observed in some multi-unit residential renovation projects due to the impact of COVID-19, sales remained strong, particularly in the commercial market, including school projects, as demand recovered rapidly with the increase in vaccination rates, and revenue increased substantially.」

    In North America, construction delays for multi-unit residential renovations remained, but demand recovered in the commercial market, including school projects, and strong sales and a substantial increase in revenue were reported.
  4. FY2021-Q3WorsenedAnnual report

    「Revenue declined from the same period of the previous year due to the substantial decline in revenue caused by restrictions on economic activity in the first quarter and the stagnation of new projects for schools and government-related customers in the commercial market, among other factors.」

    The stagnation of new school and government-related projects in North America is explicitly stated, updating the situation from progress in order-taking activities targeting large properties to one involving stagnation in project formation.
  5. FY2020-Q3AdvancedAnnual report

    「Active order-taking activities led to orders for large projects, and sales of IP network-compatible intercom systems remained strong.」

    In North America, active order-taking activities targeting large properties led to actual orders for large projects, marking concrete progress from the previous sluggish order trend.
  6. FY2020-Q2Progress in order-taking activities for large propertiesAnnual report

    「Sales of IP network-compatible intercom systems remained strong, and revenue increased as the company actively pursued orders targeting large properties such as schools and public facilities.」

    It is stated that active order-taking activities targeting large properties in North America resulted in strong sales of IP network-compatible systems.
  7. FY2018-Q3First statedAnnual report

    「Sales declined, partly because orders for large projects remained sluggish.」

    It is stated for the first time that sluggish orders for large projects in North America, despite strong sales of IP network-compatible systems, became a factor behind the overall decline in sales.
Moved together

"Expansion through sales subsidiaries in priority overseas markets" moved the same way as this thread, in the same document, in 2 of its 7 moves.

22★12
  1. ★This thread
  2. 1Expansion through sales subsidiaries in priority overseas markets2×
  3. 2Expansion of IP network-compatible intercoms2×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

When this could move next
Aiphone's next results are scheduled for 2026-11-10. Read the earnings preview
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