Komori
Denso (6902) · RiskWorsened

Dependence on OEM Customers and the Toyota Group for Sales

First written in FY2016. 20 of 37 entries say "Restated". Latest entry: FY2026.

37entries
11years
2from disclosures
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How it moved
ProgressHeldSoftenedWorseRestatedFY2016 – FY2020-Q3WorsenedFY2024-Q1 – 2026-04-282016: 320162017: 420172018: 420182019: 420192020: 320202021: 420212022: 420222023: 320232024: 320242025: 220252026: 32026
Same theme, other companies
Dependence on sales to Toyota Motor CorporationA theme 5 companies write about · 6 as a headwind · 0 as a tailwind

Denso moved to the "Worse" side of this theme in 2020, 4 years before the typical company in this theme (2024).

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. FY2026WorsenedAnnual report

    「The Toyota Group accounts for approximately half of the consolidated companies’ revenue.」

    Revenue from the Toyota Group for the fiscal year was ¥4,134.5 billion, representing approximately 54.8% of consolidated revenue of ¥7,540.0 billion. Customer concentration increased from approximately 54.5% in the previous fiscal year.
  3. FY2026-H1WorsenedAnnual report

    「For the Toyota Group　1,981,725　Other　1,300,666　Total, parts supply business for automotive manufacturers　3,282,391　Aftermarket and non-automotive businesses　308,076　Total　3,590,467」

    Revenue from the Toyota Group was ¥198,172.5 million, accounting for approximately 55.2% of consolidated revenue for the interim period. Customer concentration increased from approximately 53.2% in the same period of the previous year.
  4. FY2025WorsenedAnnual report

    「Of the consolidated companies’ trade receivables as of the consolidated fiscal year-end, 41% were attributable to the Toyota Group.」

    Sales to the Toyota Group were ¥3,903.1 billion, accounting for approximately 54.5% of consolidated revenue, while the group accounted for 41% of trade receivables. Customer concentration increased from approximately 51.3% of sales and 37% of trade receivables in the previous fiscal year.
  5. FY2025-H1WorsenedAnnual report

    「Revenue from the Toyota Group　1,850,039」「Other　1,317,200」「Total, parts supply business for automotive manufacturers　3,167,239」「Aftermarket and non-automotive businesses　307,613」「Total　3,474,852」

    Revenue from the Toyota Group was ¥185,003.9 million, accounting for approximately 53.2% of consolidated revenue for the first half. Customer concentration increased from approximately 51.5% in the same period of the previous year.
  6. FY2024WorsenedAnnual report

    「The Toyota Group accounts for approximately half of the consolidated companies’ revenue.」「Of the consolidated companies’ trade receivables as of the consolidated fiscal year-end, 37% were attributable to the Toyota Group.」

    Sales to the Toyota Group were ¥3,667,452 million, or approximately 51.3% of consolidated revenue, again exceeding half compared with approximately 49% in the previous fiscal year. The group also accounted for 37% of trade receivables.
  7. FY2024-Q3WorsenedAnnual report

    「For the Toyota Group　2,781,467　Other　2,077,072　Total, parts supply business for automotive manufacturers　4,858,539　Aftermarket and non-automotive businesses　496,350　Total　5,354,889」

    Revenue from the Toyota Group was ¥278,146.7 million, accounting for approximately 52.0% of consolidated revenue. Customer concentration increased from approximately 49.2% in the same period of the previous year, again exceeding half of revenue.
  8. FY2024-Q2WorsenedAnnual report

    「Revenue from the Toyota Group　1,810,107」「Other　1,362,519」「Total, parts supply business for automotive manufacturers　3,172,626」「Aftermarket and non-automotive businesses　340,872」「Total　3,513,498」

    Revenue from the Toyota Group was ¥181,010.7 million, increasing to approximately 51.5% of consolidated revenue. This exceeded approximately 49.1% in the same period of the previous year, with customer concentration again surpassing half of revenue.
  9. FY2024-Q1WorsenedAnnual report

    「For the Toyota Group　879,208　Other　660,237　Total, parts supply business for automotive manufacturers　1,539,445　Aftermarket and non-automotive businesses　173,415　Total　1,712,860」

    Revenue from the Toyota Group was ¥87,920.8 million, accounting for approximately 51.3% of consolidated revenue. Customer concentration increased from approximately 49.0% in the same period of the previous year, exceeding half of revenue.
  10. FY2023-Q3RestatedAnnual report

    「For the Toyota Group　2,281,211」「Other　1,825,689」「Total, parts supply business for automotive manufacturers　4,106,900」「Aftermarket and non-automotive businesses　528,782」「Total　4,635,682」

    Revenue from the Toyota Group was ¥228,121.1 million, accounting for approximately 49.2% of consolidated revenue, and the company continued to disclose its dependence on a major customer.
  11. FY2023-Q2SoftenedAnnual report

    「For the Toyota Group　1,482,363」「Other　1,187,681」「Total, parts supply business for automotive manufacturers　2,670,044」「Aftermarket and non-automotive businesses　350,070」「Total　3,020,114」

    Revenue from the Toyota Group was ¥148,236.3 million, accounting for approximately 49.1% of consolidated revenue. Customer concentration eased slightly from approximately 51.9% in the same period of the previous year, but remained at approximately half of revenue.
  12. FY2023-Q1SoftenedAnnual report

    「For the Toyota Group　693,132　Other　548,725　Total, parts supply business for automotive manufacturers　1,241,857　Aftermarket and non-automotive businesses　173,152　Total　1,415,009」

    Revenue from the Toyota Group was ¥69,313.2 million, accounting for approximately 49.0% of consolidated revenue for the first quarter. Although down from approximately 53.0% in the same period of the previous year, it remained at approximately half of revenue.
  13. FY2022RestatedAnnual report

    「Of the consolidated companies’ trade receivables as of the consolidated fiscal year-end, 33% were attributable to the Toyota Group.」

    In addition to customer concentration, with sales to the Toyota Group accounting for approximately half of revenue, the company reconfirmed in its full-year disclosure that 33% of trade receivables were attributable to the group.
  14. FY2022-Q3RestatedAnnual report

    「For the Toyota Group　2,085,079」「Other　1,452,858」「Total, parts supply business for automotive manufacturers　3,537,937」「Aftermarket and non-automotive businesses　471,111」「Total　4,009,048」

    Revenue from the Toyota Group was ¥208,507.9 million for the nine-month period ended the third quarter, accounting for approximately 52.0% of consolidated revenue and reconfirming the company’s dependence on a major customer.
  15. FY2022-Q2RestatedAnnual report

    「For the Toyota Group　1,339,498」「Other　928,804」「Total, parts supply business for automotive manufacturers　2,268,302」「Aftermarket and non-automotive businesses　314,638」「Total　2,582,940」

    Revenue from the Toyota Group was ¥133,949.8 million, accounting for approximately 51.9% of consolidated revenue for the six-month period ended the second quarter, reconfirming the company’s dependence on a major customer.
  16. FY2022-Q1RestatedAnnual report

    「For the Toyota Group　718,668」「Other　471,371」「Total, parts supply business for automotive manufacturers　1,190,039」「Aftermarket and non-automotive businesses　166,827」「Total　1,356,866」

    Revenue from the Toyota Group was ¥71,866.8 million, accounting for approximately 53.0% of first-quarter revenue of ¥135,686.6 million, reconfirming the company’s dependence on a major customer.
  17. FY2021WorsenedAnnual report

    「For the Toyota Group　2,619,778」「Other　1,727,214」「Total, parts supply business for automotive manufacturers　4,346,992」「Aftermarket and non-automotive businesses　589,733」「Total　4,936,725」

    In FY2021, revenue from the Toyota Group was ¥2,619.8 billion, accounting for approximately 53.1% of consolidated revenue, up from approximately 49.6% in the previous year and indicating increased customer concentration.
  18. FY2021-Q3WorsenedAnnual report

    「For the TOYOTA MOTOR CORPORATION Group　1,892,607」「Other　1,194,849」「Total, parts supply business for automotive manufacturers　3,087,456」「Aftermarket and non-automotive businesses　421,139」「Total　3,508,595」

    Revenue from the Toyota Group was ¥1,892.6 billion, accounting for approximately 53.9% of total revenue. Customer concentration increased from approximately 49.7% in the same period of the previous year.
  19. FY2021-Q2WorsenedAnnual report

    「For the TOYOTA MOTOR CORPORATION Group　1,114,664」「Other　692,844」「Total, parts supply business for automotive manufacturers　1,807,508」「Aftermarket and non-automotive businesses　267,214」「Total　2,074,722」

    Revenue from the Toyota Group was ¥1,114.6 billion, accounting for approximately 53.7% of revenue for the first half. The ratio has increased from the previous concentration level of approximately half of revenue over the cumulative period of the current quarter.
  20. FY2020WorsenedAnnual report

    「Of the consolidated companies’ trade receivables as of the consolidated fiscal year-end, 38% were attributable to the TOYOTA MOTOR CORPORATION Group.」

    In addition to sales to the Toyota Group accounting for approximately half of revenue, the company disclosed that the group accounted for 38% of trade receivables, updating its customer concentration exposure.
  21. FY2020-Q3RestatedAnnual report

    「TOYOTA MOTOR CORPORATION Group　Sales of various automotive parts　1,934,201」「Purchases of various automotive parts　49,592」

    The company disclosed parts sales of ¥1,934,201 million to the Toyota Group for the nine-month period ended the third quarter and reconfirmed its transaction dependence on a major customer.
  22. FY2020-Q2RestatedAnnual report

    「Revenue from the TOYOTA MOTOR CORPORATION Group　1,297,449」

    The company disclosed revenue of ¥1,297,449 million from the TOYOTA MOTOR CORPORATION Group for the six-month period ended the second quarter and reconfirmed its transaction dependence on a major customer.
  23. FY2020-Q1RestatedAnnual report

    「For the TOYOTA MOTOR CORPORATION Group　Sales of various automotive parts　655,061」「Purchases of various automotive parts　16,285」

    The company disclosed parts sales of ¥655,061 million to the Toyota Group, reconfirming its transaction dependence on a major customer that accounts for approximately half of first-quarter revenue of ¥1,324,119 million.
  24. FY2019RestatedAnnual report

    「Approximately half of the consolidated companies' sales are generated from the Toyota Group. Sales to these specific customer groups may be significantly affected by the performance of the customer companies.」

    Sales to the Toyota Group were ¥2,519,262 million, reconfirming the customer concentration risk of relying on a customer that accounts for approximately half of consolidated revenue. The company also states that 32% of trade receivables are attributable to the Toyota Group.
  25. FY2019-Q3RestatedAnnual report

    「TOYOTA MOTOR CORPORATION Group　Sales of various automotive parts　1,849,722」「Purchases of various automotive parts　39,227」

    The company disclosed parts sales of ¥1,849,722 million to the Toyota Group for the nine-month period ended the third quarter and reconfirmed its transaction dependence on a major customer.
  26. FY2019-Q2RestatedAnnual report

    「For the TOYOTA MOTOR CORPORATION Group　1,214,134」

    The company disclosed automotive parts sales of ¥1,214,134 million to the TOYOTA MOTOR CORPORATION Group for the six-month period ended the second quarter and reconfirmed its transaction dependence on a major customer.
  27. FY2019-Q1RestatedAnnual report

    「TOYOTA MOTOR CORPORATION Group　Sales of various automotive parts　610,508　Purchases of various automotive parts　12,700」

    The company disclosed automotive parts sales of ¥610,508 million to the TOYOTA MOTOR CORPORATION Group for the first quarter and reconfirmed its transaction dependence on a major customer.
  28. FY2018RestatedAnnual report

    「Approximately half of the consolidated companies' sales are generated from the Toyota Group, and sales to these specific customer groups may be significantly affected by the performance of the customer companies. In addition, 29% of trade receivables as of the consolidated fiscal year-end were due from the TOYOTA MOTOR CORPORATION Group.」

    In addition to the concentration risk arising from approximately half of sales being generated from the Toyota Group, the disclosure states that 29% of trade receivables were due from the same group.
  29. FY2018-Q3RestatedAnnual report

    「TOYOTA MOTOR CORPORATION Group　Sales of various automotive parts　1,684,399　Purchases of various automotive parts　30,340」

    Sales of automotive parts to the TOYOTA MOTOR CORPORATION Group totaled ¥1,684,399 million in the cumulative third quarter and were disclosed, reaffirming transaction dependence on a major customer.
  30. FY2018-Q2RestatedAnnual report

    「TOYOTA MOTOR CORPORATION Group　Sales of various automotive parts　1,074,455　Purchases of various automotive parts　18,284」

    Sales of automotive parts to the TOYOTA MOTOR CORPORATION Group totaled ¥1,074,455 million in the cumulative second quarter and were disclosed, reaffirming transaction dependence on a major customer.
  31. FY2018-Q1RestatedAnnual report

    「TOYOTA MOTOR CORPORATION Group　Sales of various automotive parts　534,916　Purchases of various automotive parts　9,187」

    Sales of automotive parts to the TOYOTA MOTOR CORPORATION Group totaled ¥534,916 million in the cumulative first quarter and were disclosed, reaffirming transaction dependence on a major customer.
  32. FY2017RestatedAnnual report

    「Approximately half of the consolidated companies' sales are generated from the Toyota Group. Sales to these specific customer groups may be significantly affected by the performance of the customer companies.」

    The customer-concentration risk arising from approximately half of sales being generated from the Toyota Group is reaffirmed.
  33. FY2017-Q3RestatedAnnual report

    「TOYOTA MOTOR CORPORATION Group　Sales of various automotive parts　1,563,400　Purchases of various automotive parts　26,058」

    Sales of automotive parts to the TOYOTA MOTOR CORPORATION Group totaled ¥1,563,400 million in the cumulative third quarter and were disclosed as related-party transactions, reaffirming the dependence on a major customer.
  34. FY2017-Q2RestatedAnnual report

    「Cumulative consolidated period for the second quarter (from 1 April 2016 to 30 September 2016)　TOYOTA MOTOR CORPORATION Group　Sales of various automotive parts　1,028,321　Purchases of various automotive parts　17,574」

    Sales of automotive parts to the TOYOTA MOTOR CORPORATION Group totaled ¥1,028,321 million and were disclosed as related-party transactions, reaffirming the dependence on a major customer.
  35. FY2017-Q1RestatedAnnual report

    「TOYOTA MOTOR CORPORATION Group　Sales of various automotive parts　503,474」

    Sales of automotive parts to the TOYOTA MOTOR CORPORATION Group totaled ¥503,474 million in the first quarter and were disclosed as related-party transactions, reaffirming the dependence on a major customer.
  36. FY2016First statedAnnual report

    「Approximately half of the consolidated companies' sales are generated from the Toyota Group. Sales to these specific customer groups may be significantly affected by the performance of the customer companies.」

    The disclosure specifies that approximately half of sales are concentrated in the Toyota Group.
Moved together

"Product Defects, Recalls and Product Liability" moved the same way as this thread, in the same document, in 9 of its 37 moves.

987755★123456
  1. ★This thread
  2. 1Product Defects, Recalls and Product Liability9×
  3. 2Soaring prices and shortages of raw materials and components, supply stoppages8×
  4. 3Exchange-rate fluctuations, including yen appreciation7×
  5. 4Economic Downturns in Key Markets and Declining Automotive Demand7×
  6. 5Growth plan focused on the environment, safety and security, over-the-counter products and new businesses, and overseas markets5×
  7. 6Capital Investment in Production Expansion, Next-Generation Models and New Product Transitions5×

★ 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.

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Denso's next results are scheduled for 2026-10-29. Read the earnings preview It last moved in the Governance of 2026-04-28: "Mitigated".
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Dependence on OEM Customers and the Toyota Group for Sales | DENSO CORPORATION (6902) | Komori