Revenue dependence on specific customers and manufacturers
First written in FY2016. 3 of 7 entries say "Worsened", first in FY2017. Latest entry: FY2026.
Tokyo Radiator Mfg. moved to the "Worse" side of this theme in 2025, 5 years after the typical company in this theme (2020).
The whole theme swung hardest in 2020: 12 of 25 companies on the "Worse" side.
3 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「ISUZU MOTORS LIMITED 17,331,665 50.9 20,042,079 56.6」
The share of sales to ISUZU MOTORS LIMITED in total sales increased from 50.9% to 56.6%, indicating greater sales concentration in a specific customer. - FY2025WorsenedAnnual report
「ISUZU MOTORS LIMITED 15,784,190 47.3 17,331,665 50.9」
The share of sales to ISUZU MOTORS LIMITED in total sales increased from 47.3% to 50.9%, indicating greater sales concentration in a specific customer. - FY2024MitigatedAnnual report
「ISUZU MOTORS LIMITED 15,063,901 47.4 15,784,190 47.3」
The share of sales to ISUZU MOTORS LIMITED, the largest customer, in total sales edged down from 47.4% to 47.3%. Customer concentration continues. - FY2023MitigatedAnnual report
「ISUZU MOTORS LIMITED 12,868,229 47.7 15,063,901 47.4」
The share of sales to ISUZU MOTORS LIMITED, the largest customer, in total sales declined from 47.7% to 47.4%. Customer concentration risk remains, but sales concentration has edged down. - FY2020Higher sales concentration and lower accounts receivable concentrationAnnual report
「Of notes and accounts receivable at the consolidated financial year-end, 45.9% was attributable to 1 major customer.」
While the ratio of accounts receivable attributable to 1 major customer fell from 47.6% in the previous fiscal year to 45.9%, the share of sales to ISUZU MOTORS LIMITED in total sales increased from 50.1% to 51.1%. - FY2017WorsenedAnnual report
「Of notes and accounts receivable at the consolidated financial year-end, 47.6% was attributable to 1 major customer.」
The share of accounts receivable attributable to 1 major customer rose from 41.2% in the previous fiscal year to 47.6%, increasing exposure to customer concentration. - FY2016First statedAnnual report
「The manufacture of heat exchangers, pressed-molded products and other items depends heavily on several specific truck, industrial machinery and construction machinery manufacturers for sales, and a decline in sales volumes due to economic fluctuations could materially affect the Group's financial condition and operating results.」
The filing states that 41.2% of accounts receivable at the consolidated financial year-end was attributable to 1 major customer, while sales to ISUZU MOTORS LIMITED accounted for 42.9% of total sales.