Concentration of Sales Among Major Customers and Fluctuations in Capital Investment
First written in FY2016. 26 of 32 entries say "Restated". Latest entry: FY2026-H1.
Nishikawa Keisoku moved to the "Worse" side of this theme in 2018, 6 years before the typical company in this theme (2024).
The whole theme swung hardest in 2025: 22 of 67 companies on the "Worse" side.
11 other companies' latest entry also says "Restated".
- FY2026-H1RestatedAnnual report
「During the interim accounting period, there were no new matters relating to the business or accounting information described in this interim report that could materially affect investment decisions, nor any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The company states that there have been no material changes to existing risks, including concentration among major customers and fluctuations in capital investment. - FY2025RestatedAnnual report
「We have approximately 3,000 customers annually, of which the top 10 account for approximately 30% of total sales.」
The company continues to identify customer concentration, with the top 10 accounting for approximately 30% of total sales, and the risk that lower capital investment and deferred upgrades by lifeline-related customers may affect orders. - FY2025-H1RestatedAnnual report
「During the interim accounting period, there were no new matters relating to the business or accounting information described in this interim report that could materially affect investment decisions, nor any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The company states that there have been no material changes to existing risks, including concentration among major customers and fluctuations in capital investment. - FY2024RestatedAnnual report
「We have approximately 3,000 customers annually, of which the top 10 account for approximately 30% of total sales.」
The company continues to identify customer concentration, with the top 10 accounting for approximately 30% of total sales, and the risk that lower capital investment and deferred upgrades by lifeline-related customers may affect orders. - FY2024-Q2RestatedAnnual report
「During the cumulative second-quarter period, there were no new matters relating to the business or accounting information described in this quarterly report that could materially affect investment decisions, nor any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The company states that there have been no material changes to existing risks, including concentration among major customers and fluctuations in capital investment. - FY2024-Q1RestatedAnnual report
「During the cumulative first-quarter period, there were no new matters relating to the business or accounting information described in this quarterly report that could materially affect investment decisions, nor any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The company states that there have been no material changes to existing risks, including concentration among major customers and fluctuations in capital investment. - FY2023RestatedAnnual report
「We have approximately 3,000 customers annually, of which the top 10 account for approximately 30% of total sales.」
The company continues to identify customer concentration, with the top 10 accounting for approximately 30% of total sales, and the risk of lower capital investment and deferred upgrades by lifeline-related customers. - FY2023-Q3RestatedAnnual report
「During the cumulative third-quarter period, there were no new matters relating to the business or accounting information described in this quarterly report that could materially affect investment decisions, nor any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The company states that there have been no material changes to existing risks, including concentration among major customers and fluctuations in capital investment. - FY2023-Q2RestatedAnnual report
「During the cumulative second-quarter period, there were no new matters relating to the business or accounting information described in this quarterly report that could materially affect investment decisions, nor any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The company states that there have been no material changes to existing risks, including concentration among major customers and fluctuations in capital investment. - FY2023-Q1RestatedAnnual report
「During the cumulative first-quarter period, there were no new matters relating to the business or accounting information described in this quarterly report that could materially affect investment decisions, nor any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The company states that there have been no material changes to existing risks, including concentration among major customers and fluctuations in capital investment. - FY2022RestatedAnnual report
「We have approximately 3,000 customers annually, of which the top 10 account for approximately 30% of total sales.」
The company continues to identify customer concentration, with the top 10 accounting for approximately 30% of total sales, and the risk that lower capital investment and deferred upgrades by lifeline-related customers may affect orders. - FY2022-Q2RestatedAnnual report
「During the cumulative second-quarter period, there were no new matters relating to the business or accounting information described in this quarterly report that could materially affect investment decisions, nor any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The company states that there have been no material changes to existing risks, including concentration among major customers and fluctuations in capital investment. - FY2022-Q1RestatedAnnual report
「During the cumulative first-quarter period, there were no new matters relating to the business or accounting information described in this quarterly report that could materially affect investment decisions, nor any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The company states that there have been no material changes to existing risks, including concentration among major customers and fluctuations in capital investment. - FY2021SoftenedAnnual report
「We have approximately 3,000 customers annually, of which the top 10 account for approximately 30% of total sales.」
The top 10 customers' share of sales declined from 35% reported for the preceding fiscal year to 30%. Customer concentration risk remains, although the degree of concentration has decreased. - FY2021-Q3RestatedAnnual report
「During the cumulative third-quarter period, there were no new matters relating to the business or accounting information described in this quarterly report that could materially affect investment decisions, nor any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The company states that there have been no material changes to existing risks, including concentration among major customers and fluctuations in capital investment. - FY2021-Q2RestatedAnnual report
「During the cumulative second-quarter period, there were no new matters relating to the business or accounting information described in this quarterly report that could materially affect investment decisions, nor any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The company states that there have been no material changes to existing risks, including concentration among major customers and fluctuations in capital investment. - FY2021-Q1RestatedAnnual report
「During the cumulative first-quarter period, there were no new matters relating to the business or accounting information described in this quarterly report that could materially affect investment decisions, nor any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The company states that there have been no material changes to existing risks, including concentration among major customers and fluctuations in capital investment. - FY2020RestatedAnnual report
「We will maintain customer confidence by ensuring service quality, while expanding our business areas and customer base through proactive marketing and sales activities, in an effort to secure sales and profits.」
The top 10 customers accounted for 35% of sales, unchanged from the preceding fiscal year. The company describes the risk of lower capital investment by customers and its responses through service quality and marketing. - FY2020-Q3RestatedAnnual report
「During the cumulative third-quarter period, there were no new matters relating to the business or accounting information described in this quarterly report that could materially affect investment decisions, nor any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The company states that there have been no material changes to existing risks, including concentration among major customers and fluctuations in capital investment. - FY2020-Q2RestatedAnnual report
「During the cumulative second-quarter period, there were no new matters relating to the business or accounting information described in this quarterly report that could materially affect investment decisions, nor any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The company states that there have been no material changes to existing risks, including concentration among major customers and fluctuations in capital investment. - FY2019WorsenedAnnual report
「We have approximately 3,000 customers annually, of which the top 10 account for approximately 35% of total sales.」
The top 10 customers' share of sales rose from approximately 27% in the preceding fiscal year to approximately 35%, worsening customer concentration. - FY2019-Q3RestatedAnnual report
「During the cumulative third-quarter period, there were no new matters relating to the business or accounting information described in this quarterly report that could materially affect investment decisions, nor any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The company states that there have been no material changes to existing risks, including concentration among major customers and fluctuations in capital investment. - FY2019-Q2RestatedAnnual report
「During the cumulative second-quarter period, there were no new matters relating to the business or accounting information described in this quarterly report that could materially affect investment decisions, nor any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The company states that there have been no material changes to existing risks, including concentration among major customers and fluctuations in capital investment. - FY2018WorsenedAnnual report
「We have approximately 3,000 customers annually, of which the top 10 account for approximately 27% of total sales. Among these top 10 customers, those related to lifeline services, including water supply, city gas and electricity, rank highest, and a high level of reliability is required as a public utility business.」
The top 10 customers' share of sales rose from approximately 25% in the preceding fiscal year to approximately 27%, worsening customer concentration. The risks of lower capital investment and deferred upgrades among lifeline-related customers also remain. - FY2018-Q3RestatedAnnual report
「During the cumulative third-quarter period, there were no new matters relating to the business or accounting information described in this quarterly report that could materially affect investment decisions, nor any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The company states that there have been no material changes to existing risks, including concentration among major customers and fluctuations in capital investment. - FY2018-Q2MaterialisedAnnual report
「Orders for the cumulative second-quarter period amounted to ¥14,940 million, down 7.2% year on year, as the increase in measuring instrument orders for the semiconductor and communications industries was more than offset by a decline in large water supply and city gas projects for control and information equipment systems.」
Large water supply and city gas projects did in fact decline, resulting in orders falling 7.2% year on year. This is cited as an example of the risk that fluctuations in capital investment and large projects may affect performance. - FY2018-Q1RestatedAnnual report
「During the cumulative first-quarter period, there were no new matters relating to the business or accounting information described in this quarterly report that could materially affect investment decisions, nor any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The company states that there have been no material changes to existing risks, including concentration among major customers and fluctuations in capital investment. - FY2017SoftenedAnnual report
「We have approximately 3,000 customers annually, of which the top 10 account for approximately 25% of total sales.」
The top 10 customers' share of sales declined from approximately 30% in FY2016 to approximately 25%. The risks associated with dependence on lifeline-related customers, lower capital investment and deferred upgrades remain. - FY2017-Q3RestatedAnnual report
「During the cumulative third-quarter period, there were no new matters relating to the business or accounting information described in this quarterly report that could materially affect investment decisions, nor any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The company states that there have been no material changes to existing risks, including concentration among major customers and fluctuations in capital investment. - FY2017-Q2RestatedAnnual report
「During the cumulative second-quarter period, there were no new matters relating to the business or accounting information described in this quarterly report that could materially affect investment decisions, nor any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The company states that there have been no material changes to existing risks, including concentration among major customers and fluctuations in capital investment. - FY2017-Q1RestatedAnnual report
「During the cumulative first-quarter period, there were no new matters relating to the business or accounting information described in this quarterly report that could materially affect investment decisions, nor any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The company explicitly states that there have been no material changes to the business and other risks described in the preceding fiscal year, and the risks associated with concentration among major customers and fluctuations in capital investment remain applicable. - FY2016First statedAnnual report
「We have approximately 3,000 customers annually, of which the top 10 account for approximately 30% of total sales.」
The top 10 customers account for approximately 30% of sales, and a decline in trust among lifeline-related customers, lower capital investment and deferred upgrades could affect orders.