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Nf Holdings (6864) · FactWorsened

Sluggish Demand in the Environment and Energy-Related Sectors and Declining Revenue from Custom Application Equipment

First written in FY2016. 16 of 38 entries say "Worsened", first in FY2017. Latest entry: 2026-07-30.

38entries
11years
2from disclosures
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How it moved
ProgressHeldSoftenedWorseWorsenedFY2024-Q3 – 2026-07-302016: 320162017: 420172018: 420182019: 420192020: 420202021: 420212022: 420222023: 420232024: 220242025: 220252026: 32026
Same theme, other companies
Demand Fluctuations in the Environmental and Energy-Related MarketsA theme 6 companies write about · 5 as a headwind · 1 as a tailwind

Nf Holdings moved to the "Worse" side of this theme in 2020.

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

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Full recordFilings, disclosures and news, newest first
  1. 2026-07-30WorsenedEarnings

    「売上は、電力事業者向け機器が堅調に推移しましたが、蓄電事業の方針転換の影響もあり、293百万円(前年同期比58.8%減)となりました。」

    蓄電事業の方針転換の影響により、環境エネルギー関連分野の売上減少が続いている。
  2. FY2026WorsenedAnnual report

    「Orders in the environmental and energy-related field totaled ¥1,707 million, down 15.9% year on year, as equipment for electric utilities and environmental power equipment performed solidly but the residential energy storage systems business was restructured. Revenue totaled ¥2,128 million, down 3.2% year on year, for the same reason.」

    Restructuring of the residential energy storage systems business reduced orders and revenue in the environmental and energy-related field. Equipment for electric utilities and other products remained solid.
  3. 2026-05-15WorsenedEarnings

    「環境エネルギー関連分野での受注は、電力事業者向け機器や環境関連電源機器は堅調に推移しましたが、家庭用蓄電システム商品の事業整理により、1,707百万円(前年同期比15.9%減)となりました。」

    家庭用蓄電システム商品の事業整理が続き、環境エネルギー関連分野の受注減少が通期でも確認されている。
  4. FY2026-H1WorsenedAnnual report

    「Orders in the environmental and energy-related field totaled ¥511 million, down 62.8% year on year, as equipment for electric utilities performed solidly but residential energy storage systems remained weak. Revenue totaled ¥972 million, down 16.5% year on year, as equipment for electric utilities performed solidly but residential energy storage systems remained weak.」

    Weak performance by residential energy storage systems continued, with orders in the environmental and energy-related field down 62.8% year on year and revenue down 16.5%. An extraordinary loss related to the restructuring of the business was also recorded.
  5. FY2025WorsenedAnnual report

    「Orders in the environmental and energy-related field totaled ¥2,031 million, down 26.8% year on year, as residential energy storage systems remained weak. Revenue totaled ¥2,198 million, down 28.7% year on year, as equipment for electric utilities performed solidly but residential energy storage systems remained weak.」

    Weak performance by residential energy storage systems continued, with orders in the environmental and energy-related field down 26.8% and revenue down 28.7% year on year.
  6. FY2025-H1WorsenedAnnual report

    「Orders in the environmental and energy-related field totaled ¥1,374 million, down 20.2% year on year, as residential energy storage systems remained weak. Revenue totaled ¥1,164 million, down 51.4% year on year, as equipment for electric utilities performed solidly but residential energy storage systems remained weak.」

    Weak performance by residential energy storage systems continued, and revenue from the environmental and energy-related field fell 51.4% year on year. Costs related to the restructuring of the energy storage systems business were also recorded.
  7. FY2024-Q3WorsenedAnnual report

    「At the Group, demand for our products and sales activities recovered as economic activity normalized after the COVID-19 pandemic, and delays in procuring components also began to improve. Consequently, revenue increased year on year in the cumulative third quarter, following the cumulative second quarter. However, the rate of increase slowed from the cumulative second quarter because planned development and production activities for residential energy storage systems were significantly delayed, while the pace of sales recovery for other products also showed some signs of slowing.」

    The disclosure states that, while economic and sales activities continued to recover, planned development and production activities for residential energy storage systems were significantly delayed and the pace of sales recovery also slowed.
  8. FY2024-Q2MitigatedAnnual report

    「Revenue totaled ¥2,395 million, up 55.2% year on year, driven by strong performance in equipment for electric utilities and an increase in shipments of residential energy storage systems.」

    In the environmental and energy-related field, which had remained weak through the previous fiscal year, shipments of equipment for electric utilities and residential energy storage systems increased, resulting in a 55.2% year-on-year increase in revenue.
  9. FY2024-Q1MitigatedAnnual report

    「Revenue totaled ¥912 million, up 44.3% year on year, as products such as equipment for electric utilities performed steadily and residential energy storage systems also remained firm.」

    In the environmental and energy-related field, where weakness and declining revenue had continued through the previous fiscal year, equipment for electric utilities and residential energy storage systems performed solidly, resulting in a 44.3% year-on-year increase in revenue.
  10. FY2023WorsenedAnnual report

    「Orders in the environmental and energy-related field totaled ¥3,806 million, up 3.6% year on year, as products such as equipment for electric utilities performed solidly despite weak performance by residential energy storage systems. Revenue totaled ¥3,461 million, down 17.9% year on year, due to a decline in the number of residential energy storage systems sold.」

    Orders increased due to equipment for electric utilities, while revenue declined 17.9% year on year due to a decline in residential energy storage system sales volumes.
  11. FY2023-Q3Continued revenue decline, with orders increasingAnnual report

    「Orders in the environmental and energy-related field totaled ¥2,749 million, up 5.7% year on year, as products such as equipment for electric utilities performed solidly despite weak performance by residential energy storage systems. Revenue totaled ¥2,557 million, down 11.8% year on year, as the number of residential energy storage systems sold remained below the previous-year level.」

    Orders in the environmental and energy-related field increased 5.7% year on year, driven by equipment for electric utilities and other products, while revenue declined 11.8% due to weak sales of residential energy storage systems.
  12. FY2023-Q2Revenue decline continues, but the decrease narrowsAnnual report

    「In the environmental and energy-related field, performance remained weak because the recovery in sales of residential energy storage systems to general households was delayed. As a result, revenue from the environmental and energy-related business field was ¥1,543 million, down 19.8% year on year.」

    Weak performance continued due to the delayed recovery in sales of residential energy storage systems. Meanwhile, the year-on-year decline narrowed from 44.4% in the first quarter to 19.8%.
  13. FY2023-Q1WorsenedAnnual report

    「In the environmental and energy-related field, capital investment in products such as power testers for power grids remained weak. Residential energy storage systems also continued to face difficult sales conditions due to changes in supply and demand trends. As a result, revenue from the environmental and energy-related business field was ¥631 million, down 44.4% year on year.」

    Weak capital investment in the power business and difficult sales conditions for residential energy storage systems continued, resulting in a 44.4% year-on-year decline in revenue from the environmental and energy-related field.
  14. FY2022Revenue decline continues, but the decrease narrowsAnnual report

    「In the environmental and energy-related field, sales of residential energy storage systems remained weak as the prolonged impact of the COVID-19 pandemic prevented the expected recovery trend from taking hold. Power testers for power grids and other products also remained weak. As a result, revenue from the environmental and energy-related business field was ¥4,215 million, down 11.7% year on year.」

    Revenue from the environmental and energy-related field continued to decline, but the decline narrowed from 30.5% year on year to 11.7%.
  15. FY2022-Q3Continued decline in revenue from the environmental and energy-related business, with the decline narrowing slightlyAnnual report

    「In the environmental and energy-related field, residential energy storage systems affected by restrictions on sales activities resulting from the renewed spread of COVID-19, declarations of a state of emergency and other factors, as well as power testers for power grids, remained weak. As a result, revenue from the environmental and energy-related business field was ¥2,901 million, down 20.6% year on year.」

    Residential energy storage systems and power testers for power grids remained weak, and the environmental and energy-related field declined 20.6% year on year. The decline narrowed slightly from 20.8% in the previous quarter.
  16. FY2022-Q2WorsenedAnnual report

    「In the environmental and energy-related field, residential energy storage systems remained weak due to restrictions on sales activities resulting from the renewed spread of COVID-19, declarations of a state of emergency and other factors. As a result, revenue from the environmental and energy-related business field was ¥1,925 million, down 20.8% year on year.」

    Residential energy storage systems remained weak due to restrictions on sales activities and other factors, and revenue from the environmental and energy-related field fell 20.8% year on year.
  17. FY2022-Q1MitigatedAnnual report

    「In the environmental and energy-related field, residential energy storage systems remained firm, while demand for products such as power testers for social infrastructure progressed steadily. As a result, revenue from the environmental and energy-related business field was ¥1,135 million, up 2.9% year on year.」

    In the environmental and energy-related field, where stagnation and declining revenue had been reported through the previous fiscal year, residential energy storage systems and demand for social infrastructure were firm, resulting in a 2.9% year-on-year increase.
  18. FY2021WorsenedAnnual report

    「In the environmental and energy-related field, demand for protection relay testers for power grids remained firm among end users, but industrial demand declined. Sales of residential energy storage systems and other products also declined because sales activities stagnated. As a result, revenue from the environmental and energy-related business field was ¥4,776 million, down 30.5% year on year.」

    Revenue from the environmental and energy-related field fell 30.5% year on year due to stagnant sales activities for residential energy storage systems and other products.
  19. FY2021-Q3Continued decline in revenue from the environmental and energy-related businessAnnual report

    「In the environmental and energy-related field, sales of products such as protection relay testers for power grids and residential energy storage systems declined. Although demand remained firm, sales activities stagnated. As a result, revenue from the environmental and energy-related field was ¥3,663 million, down 27.7% year on year.」

    Revenue from the environmental and energy-related field continues to decline due to stagnant sales activities, despite firm demand.
  20. FY2021-Q2WorsenedAnnual report

    「In the environment and energy-related field, protective relay testers for power grids performed relatively steadily, but energy storage systems and other businesses stagnated, resulting in lower revenue overall. As a result, sales in the environment and energy-related field were ¥2,436 million, down 28.7% year on year.」

    Energy storage systems and other businesses stagnated in the environment and energy-related field, resulting in a 28.7% year-on-year decline in field sales.
  21. FY2021-Q1MitigatedAnnual report

    「In the application systems field, aerospace and automotive-related businesses weakened, but electronic component-related and environment and energy-related businesses performed steadily, resulting in higher revenue overall. As a result, sales in the application systems field were ¥188 million, up 5.1% year on year.」

    The application systems field, which had seen revenue decline in the previous fiscal year, returned to growth, with sales up 5.1% year on year as electronic component-related and environment and energy-related businesses remained firm.
  22. FY2020WorsenedAnnual report

    「In the application systems field, railway-related business and other areas performed steadily, but environment and energy-related and electronic component-related businesses weakened, resulting in lower revenue overall. As a result, sales in the application systems field were ¥1,299 million, down 15.2% year on year.」

    Weakness in environment and energy-related and electronic component-related businesses continued, with the application systems field down 15.2% year on year.
  23. FY2020-Q3WorsenedAnnual report

    「In the application systems field, railway-related business and other areas performed steadily, but environment and energy-related and electronic component-related businesses weakened, resulting in lower revenue overall. As a result, sales in the application systems field were ¥776 million, down 16.9% year on year.」

    Weakness in environment and energy-related and electronic component-related businesses continued, and the decline in the application systems field widened to 16.9% year on year, compared with a 13.3% decline in the cumulative second quarter of the previous fiscal year.
  24. FY2020-Q2RestatedAnnual report

    「In the application systems field, railway-related business and other areas performed steadily, but environment and energy-related and electronic component-related businesses weakened, resulting in lower revenue overall. As a result, sales in the application systems field were ¥510 million, down 13.3% year on year.」

    Weakness in environment and energy-related and electronic component-related businesses continued, with the application systems field down 13.3% year on year.
  25. FY2020-Q1WorsenedAnnual report

    「In the application systems field, railway-related business and other areas performed steadily, but environment and energy-related and electronic component-related businesses weakened, resulting in lower revenue overall. As a result, sales in the application systems field were ¥179 million, down 33.9% year on year.」

    Environment and energy-related and electronic component-related businesses weakened in the application systems field, with sales down 33.9% year on year.
  26. FY2019Lower revenue in the application systems fieldAnnual report

    「In the application systems field, electronic component evaluation and aerospace-related businesses performed steadily, but automotive measurement systems and university and public-sector-related businesses weakened, resulting in lower revenue overall. As a result, sales in the application systems field were ¥1,532 million, down 10.3% year on year.」

    In the application systems field, which corresponds to the former custom application equipment field, electronic component evaluation and aerospace-related businesses performed steadily, while weakness in automotive measurement systems and university and public-sector-related businesses resulted in a 10.3% year-on-year decline.
  27. FY2019-Q3RestatedAnnual report

    「In the application systems field, the company worked to develop and provide solutions addressing diverse customer needs based on accumulated technologies and expertise. During the fiscal year, power infrastructure-related and electronic component-related businesses performed steadily. As a result, sales in the application systems field were ¥933 million, up 7.7% year on year.」

    In the application systems field, which corresponds to the former custom application equipment field, power infrastructure-related and electronic component-related businesses performed steadily, with sales up 7.7% year on year.
  28. FY2019-Q2RestatedAnnual report

    「In the application systems field, the company focused on developing and providing solutions addressing diverse customer needs based on accumulated technologies and expertise. During the fiscal year, transactions related to power infrastructure, electronic component evaluation, and automotive systems lifted overall performance, which exceeded the previous year. As a result, sales in the application systems field were ¥588 million, up 36.2% year on year.」

    In the application systems field, which corresponds to the former custom application equipment field, power infrastructure, electronic component evaluation, and automotive-related businesses grew, resulting in a 36.2% year-on-year increase.
  29. FY2019-Q1RestatedAnnual report

    「In the application systems field, the company focused on developing and providing solutions addressing diverse customer needs based on accumulated technologies and expertise. During the fiscal year, electronic component evaluation, power infrastructure, and automotive systems-related businesses performed steadily. As a result, sales in the application systems field were ¥226 million, up 40.3% year on year.」

    In the application systems field, which corresponds to the former custom application equipment field, power infrastructure-related business and other areas performed steadily, with sales up 40.3% year on year. The recovery trend identified in the previous full-year report has continued.
  30. FY2018MitigatedAnnual report

    「In the custom application equipment field, the company worked to develop and expand sales of new solutions addressing diverse customer needs based on measurement and power control technologies. During the fiscal year, EV-related and smart energy businesses performed steadily in addition to simulation power supply equipment. In DC power supply application equipment, surface treatment equipment for production facilities was flat, while general industrial applications performed well. New environmental measurement businesses, including seismological measurement equipment, and automotive businesses, including HILS measurement systems, also contributed, driving steady growth across the custom application equipment field. As a result, sales in the field were ¥2,979 million, up 47.2% year on year.」

    The custom application equipment field, which had experienced lower revenue because of sluggish environment and energy-related demand, returned to growth, with sales up 47.2% year on year, driven by growth in EV, smart energy, environmental measurement, and automotive-related businesses.
  31. FY2018-Q3MitigatedAnnual report

    「In the custom application equipment field, the company actively expanded its solutions business to address diverse customer needs, from research and development systems to embedded equipment and equipment for production facilities. During the fiscal year, equipment for production facilities and testing equipment performed steadily, resulting in performance exceeding the previous year. As a result, sales in the custom application equipment field were ¥1,893 million, up 53.5% year on year.」

    Equipment for production facilities and testing equipment performed steadily in the custom application equipment field, with sales up 53.5% year on year.
  32. FY2018-Q2MitigatedAnnual report

    「While sales in the electronic components field declined in existing business areas, orders and sales in new areas such as energy storage systems performed well. In the custom application equipment field, applications for production equipment remained firm and new applications were added, resulting in overall performance exceeding the previous fiscal year. As a result, sales in the custom application equipment field were ¥1,074 million, up 24.5% year on year.」

    New areas such as energy storage systems and the custom application equipment field performed well, with sales in the custom application equipment field up 24.5% year on year.
  33. FY2018-Q1MitigatedAnnual report

    「In the custom application equipment field, the company has actively developed its solutions business to address a broad range of customer needs, from embedded equipment and peripheral devices and software to systems integration, using measurement and power control technologies. As a result, overall business, including for the environment and energy-related markets, remained firm, and sales in the custom application equipment field were ¥406 million, up 54.2% year on year.」

    While the decline in environment and energy-related demand had been reported through the previous fiscal year, the custom application equipment field turned firm, with sales up 54.2% year on year.
  34. FY2017WorsenedAnnual report

    「Although the company strengthened measures such as introducing new electronic measuring instruments and custom devices in response to declining demand in the environment and energy-related markets, it was unable to recover the decline in custom demand in the solar-related energy field.」

    Although the company strengthened its response, including the launch of new products, it was unable to recover the decline in custom demand in the solar-related energy field, and sales of custom application equipment fell 17.1% year on year.
  35. FY2017-Q3RestatedAnnual report

    「In the custom application equipment field, the company has actively expanded its solutions business, ranging from various power supply devices to systems using measurement and power control technologies, and has focused on developing demand. However, demand in the environment and energy-related markets remained stagnant, and overall performance was subdued.」

    Stagnant demand in the environment and energy-related markets and subdued performance in the custom application equipment field have continued.
  36. FY2017-Q2RestatedAnnual report

    「Under these operating conditions, custom devices for the aerospace market and new electronic measuring instruments for research and development performed steadily, but the group was unable to make up for the decline in custom demand related to solar panels in the environment and energy market.」

    The decline in custom demand in the environment and energy market, particularly demand related to solar panels, is continuing.
  37. FY2017-Q1RestatedAnnual report

    「In the custom application equipment field, the company has actively expanded its solutions business, ranging from various power supply devices to systems using measurement and power control technologies, and has focused on developing demand. However, demand in the environment and energy-related markets remained stagnant, and overall performance was subdued.」

    The report states that demand in the environment and energy-related markets remains stagnant.
  38. FY2016First statedAnnual report

    「Revenue declined year on year, mainly because of lower sales of custom application equipment and related products, reflecting stagnant demand in the environment and energy-related markets and other factors.」

    The report describes stagnant demand in the environment and energy-related markets identified as priority markets.
Moved together

"Uncertainty in the Business Environment Due to a Global Economic Slowdown, Geopolitical Risks, Brexit and Yen Appreciation" moved the same way as this thread, in the same document, in 16 of its 38 moves.

16107655★123456
  1. ★This thread
  2. 1Uncertainty in the Business Environment Due to a Global Economic Slowdown, Geopolitical Risks, Brexit and Yen Appreciation16×
  3. 2Development of New Business Areas, Including Environmental and Energy-Related Fields10×
  4. 3Business Activity and Performance Risks Arising from COVID-197×
  5. 4Decline in Total Assets Amid Higher Inventories and Lower Trade Receivables6×
  6. 5A Challenging Business Environment Due to Soaring Raw Material Prices5×
  7. 6FY2016 Revenue and Earnings Decline5×

★ 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
Nf Holdings's next results are scheduled for 2026-10-30. Read the earnings preview It last moved in the Earnings of 2026-07-30: "Worsened".
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