Risk of inventory write-downs for memory modules due to price fluctuations and expected orders
First written in FY2022. 2 of 4 entries say "Worsened", first in FY2026-H1. Latest entry: FY2026.
Minato Holdings moved to the "Worse" side of this theme in 2025, 1 year after the typical company in this theme (2024).
The whole theme swung hardest in 2018: 11 of 37 companies on the "Worse" side.
35 other companies' latest entry also says "Materialised".
- FY2026MaterialisedAnnual report
「The amount of inventory write-downs due to lower profitability of inventory held for ordinary sales purposes (△ indicates a reversal) was ¥392.935 million for the current consolidated fiscal year.」
For inventory such as memory products, ¥392.935 million in write-downs due to lower profitability was recorded, indicating that the inventory write-down risk materialized. - 2026-05-12WorsenedEarnings
「The main factors behind the decrease were increases of ¥2,573 million in trade receivables, ¥1,451 million in advances paid and ¥8,156 million in inventories.」
Inventories exposed to potential valuation-loss risk from fluctuations in memory prices and demand increased by an amount large enough to become a significant use of operating cash flow. - FY2026-H1WorsenedAnnual report
「The main factors were interim profit before income taxes of ¥619 million, an increase of ¥1,054 million in inventories, an increase of ¥534 million in securities for operating investment purposes, an increase of ¥600 million in trade payables, and income tax refunds of ¥127 million.」
Inventory potentially subject to write-down risk from fluctuations in memory prices and demand increased by ¥1,054 million. No actual inventory write-down was reported. - FY2022First statedAnnual report
「Inventory in the memory module business is exposed to the risk of price fluctuations resulting from changes in supply and demand. The Company may also hold a certain level of inventory to ensure the long-term supply of items with the same model number to customers. In such cases, estimates of expected sales volumes are based on assumptions regarding future expected orders.」
For inventory in the memory module business, the possibility of additional inventory write-downs due to supply-and-demand-driven price fluctuations and lower expected future orders was identified for the first time as a material accounting estimate.