Seasonality and earnings volatility associated with corporate customers’ budgeting
First written in FY2016. 7 of 8 entries say "Restated". Latest entry: FY2023.
The whole theme swung hardest in 2024: 4 of 13 companies on the "Worse" side.
15 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「The company's past fluctuations in business performance have reflected a tendency for revenue to increase in the fourth quarter of the second half of the fiscal year, from January to March, due in part to corporate customers' budgeting cycles.」
It reaffirms the risk of revenue concentration in the fourth quarter and earnings volatility arising from corporate customers' budgeting cycles. - FY2022RestatedAnnual report
「The company's past fluctuations in business performance have reflected a tendency for revenue to increase in the fourth quarter of the second half of the fiscal year, from January to March, due in part to corporate customers' budgeting cycles.」
It reaffirms the risk of revenue concentration in the fourth quarter and earnings volatility arising from corporate customers' budgeting cycles. - FY2021RestatedAnnual report
「The company's past fluctuations in business performance have reflected a tendency for revenue to increase in the fourth quarter of the second half of the fiscal year, from January to March, due in part to corporate customers' budgeting cycles.」
It reiterates the risk of revenue concentration in the fourth quarter and earnings volatility arising from corporate customers' budgeting cycles. - FY2020RestatedAnnual report
「The company's past fluctuations in business performance have reflected a tendency for revenue to increase in the fourth quarter of the second half of the fiscal year, from January to March, due in part to corporate customers' budgeting cycles.」
It reiterates the risk of revenue concentration in the fourth quarter and earnings volatility arising from corporate customers' budgeting cycles. - FY2019RestatedAnnual report
「The company's past fluctuations in business performance have reflected a tendency for revenue to increase in the fourth quarter of the second half of the fiscal year, from January to March, due in part to corporate customers' budgeting cycles.」
It reiterates the risk of revenue concentration in the fourth quarter and earnings volatility arising from corporate customers' budgeting cycles. - FY2018RestatedAnnual report
「The company's past fluctuations in business performance have reflected a tendency for revenue to increase in the fourth quarter of the second half of the fiscal year, from January to March, due in part to corporate customers' budgeting cycles.」
It reiterates the risk of revenue concentration in the fourth quarter and earnings volatility arising from corporate customers' budgeting cycles. - FY2017RestatedAnnual report
「The company's past fluctuations in business performance have reflected a tendency for revenue to increase in the fourth quarter of the second half of the fiscal year, from January to March, due in part to corporate customers' budgeting cycles.」
It reiterates the risk of revenue concentration in the fourth quarter and earnings volatility arising from corporate customers' budgeting cycles. - FY2016First statedAnnual report
「The company's past fluctuations in business performance have reflected a tendency for revenue to increase in the fourth quarter of the second half of the fiscal year, from January to March, due in part to corporate customers' budgeting cycles.」
It identifies the concentration of revenue in the second half and fourth quarter, and the potential decline in earnings power if business trends change, as risks.