Seasonal Fluctuations in Results Due to the Concentration of Completed Construction Work in the Fourth Quarter
First written in FY2017-Q1. 14 of 15 entries say "Restated". Latest entry: FY2021-Q3.
The whole theme swung hardest in 2025: 6 of 20 companies on the "Worse" side.
24 other companies' latest entry also says "Restated".
- FY2021-Q3RestatedAnnual report
「The Group’s normal business cycle involves a large proportion of construction projects being completed in the fourth-quarter consolidated accounting period. Consequently, net sales in the fourth-quarter consolidated accounting period differ significantly from those in the other quarterly consolidated accounting periods, resulting in seasonal fluctuations in performance.」
This reconfirms the seasonal fluctuations in quarterly performance caused by the concentration of completed construction projects in the fourth quarter. - FY2021-Q2RestatedAnnual report
「The Group’s normal business cycle involves a large proportion of construction projects being completed in the fourth-quarter consolidated accounting period. Consequently, net sales in the fourth-quarter consolidated accounting period differ significantly from those in the other quarterly consolidated accounting periods, resulting in seasonal fluctuations in performance.」
This reconfirms the seasonal fluctuations in quarterly performance caused by the concentration of completed construction projects in the fourth quarter. - FY2021-Q1RestatedAnnual report
「The Group’s normal business cycle involves a large proportion of construction projects being completed in the fourth-quarter consolidated accounting period. Consequently, net sales in the fourth-quarter consolidated accounting period differ significantly from those in the other quarterly consolidated accounting periods, resulting in seasonal fluctuations in performance.」
This reconfirms the seasonal fluctuations in quarterly performance caused by the concentration of completed construction projects in the fourth quarter. - FY2020RestatedAnnual report
「Because the completion period for domestic construction investment related to demand from the Tokyo Olympic and Paralympic Games peaked, both construction revenue and equipment sales revenue increased for fire alarm systems and fire suppression systems.」
This reconfirms the structure whereby the completion timing of construction projects affects performance, in the form of a peak in domestic construction investment. - FY2020-Q3RestatedAnnual report
「The Group’s normal business cycle involves a large proportion of construction projects being completed in the fourth-quarter consolidated accounting period. Consequently, net sales in the fourth-quarter consolidated accounting period differ significantly from those in the other quarterly consolidated accounting periods, resulting in seasonal fluctuations in performance.」
This reconfirms the seasonal fluctuations in performance caused by the concentration of completed construction projects in the fourth quarter. - FY2020-Q2RestatedAnnual report
「The Group’s normal business cycle involves a large proportion of construction projects being completed in the fourth-quarter consolidated accounting period. Consequently, net sales in the fourth-quarter consolidated accounting period differ significantly from those in the other quarterly consolidated accounting periods, resulting in seasonal fluctuations in performance.」
This reconfirms the seasonal fluctuations in performance caused by the concentration of completed construction projects in the fourth quarter. - FY2020-Q1RestatedAnnual report
「The Group’s normal business cycle involves a large proportion of construction projects being completed in the fourth-quarter consolidated accounting period. Consequently, net sales in the fourth-quarter consolidated accounting period differ significantly from those in the other quarterly consolidated accounting periods, resulting in seasonal fluctuations in performance.」
This reconfirms the seasonal fluctuations in performance caused by the concentration of completed construction projects in the fourth quarter. - FY2019RestatedAnnual report
「As part of the Group’s normal operating cycle, a large proportion of construction work is completed in the fourth quarter of the consolidated fiscal year. Consequently, revenue in the fourth quarter differs significantly from revenue in the other quarters, resulting in seasonal fluctuations in operating results.」
This reconfirms the seasonal fluctuations in performance caused by the concentration of completed construction projects in the fourth quarter. - FY2019-Q3RestatedAnnual report
「The Group’s normal business cycle involves a large proportion of construction projects being completed in the fourth-quarter consolidated accounting period. Consequently, net sales in the fourth-quarter consolidated accounting period differ significantly from those in the other quarterly consolidated accounting periods, resulting in seasonal fluctuations in performance.」
This reiterates the seasonal fluctuations in performance caused by the concentration of completed construction projects in the fourth quarter. - FY2019-Q2RestatedAnnual report
「The Group’s normal business cycle involves a large proportion of construction projects being completed in the fourth-quarter consolidated accounting period. Consequently, net sales in the fourth-quarter consolidated accounting period differ significantly from those in the other quarterly consolidated accounting periods, resulting in seasonal fluctuations in performance.」
This reiterates the seasonal fluctuations in performance caused by the concentration of completed construction projects in the fourth quarter. - FY2018-Q3RestatedAnnual report
「The Group’s normal business cycle involves a large proportion of construction projects being completed in the fourth-quarter consolidated accounting period. Consequently, net sales in the fourth-quarter consolidated accounting period differ significantly from those in the other quarterly consolidated accounting periods, resulting in seasonal fluctuations in performance.」
This reiterates the seasonal fluctuations in performance caused by the concentration of completed construction projects in the fourth quarter. - FY2018-Q2RestatedAnnual report
「The Group’s normal business cycle involves a large proportion of construction projects being completed in the fourth-quarter consolidated accounting period. Consequently, net sales in the fourth-quarter consolidated accounting period differ significantly from those in the other quarterly consolidated accounting periods, resulting in seasonal fluctuations in performance.」
This reiterates the seasonal fluctuations in performance caused by the concentration of completed construction projects in the fourth quarter. - FY2017-Q3RestatedAnnual report
「The Group’s normal business cycle involves a large proportion of construction projects being completed in the fourth-quarter consolidated accounting period. Consequently, net sales in the fourth-quarter consolidated accounting period differ significantly from those in the other quarterly consolidated accounting periods, resulting in seasonal fluctuations in performance.」
This reiterates the seasonal fluctuations in performance caused by the concentration of completed construction projects in the fourth quarter. - FY2017-Q2RestatedAnnual report
「The Group’s normal business cycle involves a large proportion of construction projects being completed in the fourth-quarter consolidated accounting period. Consequently, net sales in the fourth-quarter consolidated accounting period differ significantly from those in the other quarterly consolidated accounting periods, resulting in seasonal fluctuations in performance.」
This reiterates the seasonal fluctuations in performance caused by the concentration of completed construction projects in the fourth quarter. - FY2017-Q1First statedAnnual report
「As part of the Group’s normal operating cycle, a large proportion of construction work is completed in the fourth quarter of the consolidated fiscal year. Consequently, revenue in the fourth quarter differs significantly from revenue in the other quarters, resulting in seasonal fluctuations in operating results.」
The Group explicitly identifies a seasonal pattern in quarterly revenue and results caused by construction completions being concentrated in the fourth quarter.