Establishment of an Asian Sales and Materials Procurement Hub by a Vietnamese Subsidiary
First written in FY2021-Q1. 5 of 8 entries say "Restated". Latest entry: FY2022.
No other company in this theme has enough history to compare yet.
- FY2022Business impact from changes in distribution channelsAnnual report
「Revenue from amateur radio communications equipment declined substantially because of difficulties procuring raw materials such as electronic components. Revenue from the Vietnamese subsidiary also declined because of a change in its distribution channels.」
Following the establishment and commencement of operations by the Vietnamese subsidiary, the filing describes a decline in revenue resulting from a change in distribution channels. Although the Asia and Oceania segment as a whole recorded higher revenue, the impact of the change in distribution channels is indicated for the subsidiary on a standalone basis. - FY2022-Q3RestatedAnnual report
「In terms of profit, operating income was ¥28 million, down 21.3% year on year, as selling, general and administrative expenses increased due to the launch of the Vietnamese subsidiary and other factors.」
The filing describes an increase in selling, general and administrative expenses associated with operating the Vietnamese subsidiary following its launch. Revenue from external customers in Asia and Oceania increased 14.8% year on year. - FY2022-Q2RestatedAnnual report
「In Australia, the main market, the impact of the COVID-19 pandemic remained in some areas, but revenue from land-mobile and marine wireless communications equipment increased as economic activity became more active. The yen also remained 15.4% weaker against the Australian dollar than in the same period of the previous year. As a result, revenue from external customers in this segment was ¥609 million, up 27.3% year on year. In terms of profit, operating income was ¥25 million, down 2.3% year on year, as selling, general and administrative expenses increased due to the launch of the Vietnamese subsidiary and other factors.」
The filing describes an increase in selling, general and administrative expenses associated with operating the Vietnamese subsidiary following its launch. Revenue from external customers in Asia and Oceania increased 27.3% year on year. - FY2022-Q1RestatedAnnual report
「In Australia, the main market, demand for land-mobile and marine wireless communications equipment recovered as economic activity rapidly intensified following the retreat of the COVID-19 pandemic. In addition, the yen depreciated 23.1% against the Australian dollar from the level in the same period of the previous year. As a result, revenue from external customers in this segment was ¥297 million, up 50.6% year on year. In terms of profit, operating income was ¥8 million, down 5.7% year on year, as selling, general and administrative expenses increased due to the launch of the Vietnamese subsidiary and other factors.」
Costs associated with launching the Vietnamese subsidiary were incurred, and operations have continued following the establishment and commencement of operations at the base. Revenue from external customers in Asia and Oceania increased 50.6% year on year. - FY2021RestatedAnnual report
「April 2020 Established ICOM ASIA CO.,LTD in Vietnam to sell the Company's products throughout Asia and procure peripheral equipment and production materials.」
The annual report reconfirms the establishment and business activities of the Vietnamese subsidiary as a consolidated subsidiary positioned as a sales and materials procurement base for all of Asia. - FY2021-Q3RestatedAnnual report
「In Asia, sales were solid in China and Vietnam, where recovery was rapid, but revenue declined in major countries such as Indonesia and Thailand because of the impact of economic stagnation.」
Following the commencement of operations by the Vietnamese subsidiary, the filing describes sales conditions in the region, including Vietnam. It does not indicate any new milestone concerning the establishment or commencement of operations at the base. - FY2021-Q2AdvancedAnnual report
「The Vietnamese subsidiary established to serve as a sales and materials procurement base for Asia had been delayed in commencing operations because of travel restrictions, but began operations in September.」
The Vietnamese subsidiary, whose operations had been delayed by travel restrictions, began operating in September and commenced business as a sales and materials procurement base for Asia. - FY2021-Q1First statedAnnual report
「In April, the Company established a local subsidiary in Vietnam to serve as a sales and materials procurement base for the Asian region, but was unable to commence sales activities because of travel restrictions.」
The Company established a Vietnamese subsidiary in April to serve as a sales and materials procurement base for Asia, but it had not commenced sales activities because of travel restrictions.