Risk of changes in demand and development failures for discretionary products
First written in FY2016. 12 of 24 entries say "Materialised", first in FY2019-Q1. Latest entry: FY2026.
Weds moved to the "Worse" side of this theme in 2018, 2 years before the typical company in this theme (2020).
The whole theme swung hardest in 2026: 7 of 8 companies on the "Worse" side.
3 other companies' latest entry also says "Materialised".
- FY2026MaterialisedAnnual report
「This was due in part to consumers' increased focus on saving amid higher prices and other factors. Although sales volumes of the mainstay wheels edged up, changes in the product mix and other factors affected results.」
Although sales volumes edged up, changes in the product mix and other factors resulted in lower revenue and profit in the wholesale business, with changes in demand composition for preference-driven, high-value-added products reflected in results. - 2026-05-13MaterialisedRevisions to earnings forecasts
「This was due in part to consumers' increased focus on saving amid higher prices and other factors. Although sales volumes of the mainstay wheels edged up, changes in the product mix and other factors affected results.」
販売数量が微増する一方で、商品構成の変化により主力ホイールの売上高・利益が減少し、需要や嗜好の変化が業績に現れている。 - FY2026-H1MaterialisedAnnual report
「Revenue from the automotive wholesale business was ¥9,962 million, down ¥443 million year on year, or 4.3%. This was due to lower sales of the core aluminum wheel products, partly reflecting consumers' increased thrift in response to rising prices.」
Higher prices and consumers' increased focus on saving led to lower sales of the mainstay aluminum wheels, which are the core of the preference-driven, high-value-added product range, resulting in lower wholesale revenue. - FY2025Revenue increased on sales of mid- to high-priced products despite lower volumesAnnual report
「This was due to efforts to promote sales of mid- to high-priced aluminum wheels with high added value and higher sales of automotive products, despite a decline in total sales of the core wheel products.」
As total wheel sales volumes continued to decline, sales promotion for mid- to high-priced aluminum wheels produced differing impacts from changing demand across product categories. - FY2025-H1Total sales volume declined, but premium aluminum wheels performed wellAnnual report
「Although total unit sales of the core wheels declined, sales of premium aluminum wheels for luxury vehicles remained strong」
While total wheel sales volumes continued to decline, sales of premium aluminum wheels for luxury vehicles were reportedly strong, indicating differing demand trends across product categories. - FY2024-Q3MaterialisedAnnual report
「Revenue from the automotive-related wholesale business was ¥20,224 million, down ¥1,632 million (7.5%) year on year, due to lower sales of the mainstay aluminum wheels, automotive accessories and other products.」
Lower sales of the mainstay aluminum wheels, automotive accessories and other products were reflected in actual results as a 7.5% decline in wholesale revenue, and the risk associated with changing demand materialized. - FY2024-Q2MaterialisedAnnual report
「Revenue from the automotive-related wholesale business was ¥9,727 million, down ¥1,184 million, or 10.9%, year on year. This was due to lower sales of the mainstay aluminum wheels, automotive accessories and other products.」
Lower sales of the mainstay aluminum wheels, automotive accessories and other products were reflected in actual results as a 10.9% decline in automotive-related wholesale revenue, and the risk associated with changing demand resurfaced. - FY2023-Q3MitigatedAnnual report
「This was due to higher sales of core aluminum wheels and steel wheels.」
While the risk of changes in demand for discretionary and high-value-added products remains, higher sales of core wheels reduced the adverse impact on results for the cumulative third-quarter period. - FY2023-Q2MitigatedAnnual report
「This was due to increased sales, particularly of core aluminum wheels.」
Higher sales of core aluminum wheels increased revenue and profit in the wholesale business, reducing the adverse impact of changes in demand for discretionary and high-value-added products on quarterly results. - FY2023-Q1MitigatedAnnual report
「This was because sales of core aluminum wheels increased, despite a decline in sales of automotive products and other items.」
Sales of core aluminum wheels increased, partially reducing the adverse impact of changes in demand for discretionary and high-value-added products on quarterly results. - FY2022MitigatedAnnual report
「Revenue in the automotive-related wholesale business was ¥25,486 million, an increase of ¥2,762 million, or 12.2%, from the previous fiscal year. This was due to increased sales across products, including core aluminum wheels.」
While the risk of changes in demand for mid- to high-end and high-value-added products remains, higher sales across products, including core aluminum wheels, increased wholesale revenue by 12.2% and reduced the adverse impact on results for the fiscal year. - FY2022-Q3MitigatedAnnual report
「This was due to increased sales across products, including core aluminum wheels, particularly those for winter use.」
Sales across products, including core aluminum wheels, increased, and the adverse impact of changes in demand on quarterly results was described as having declined. However, the disclosure does not state that the demand-change risk itself has been eliminated. - FY2022-Q1MitigatedAnnual report
「Revenue from automotive-related wholesale was ¥4,575 million, up ¥713 million year on year (18.5%), owing to higher sales across the product range, including the core aluminum wheels and automotive products. Segment profit also increased by ¥90 million (143.0%) to ¥152 million, reflecting higher revenue from aluminum wheels and other products.」
Revenue and profit in the wholesale business increased due to higher sales across products, including core aluminum wheels, and the disclosure states that the impact of changes in demand for discretionary and high-value-added products on quarterly results declined. - FY2021MitigatedAnnual report
「Revenue in the automotive-related wholesale business was ¥22,723 million, an increase of ¥830 million, or 3.8%, from the previous fiscal year. This was mainly due to higher sales of mid-range aluminum wheels, automotive products and other items.」
While the risk of changes in demand for discretionary and high-value-added wheels remains, revenue in the wholesale business increased due to higher sales of mid-range aluminum wheels and other products, partially reducing the impact on results for the fiscal year. - FY2021-Q3MitigatedAnnual report
「This was mainly due to increased sales of core aluminum wheels and other products during the consolidated third-quarter accounting period, reflecting higher sales of new vehicles, snowfall and other factors. Segment profit was ¥1,175 million, an increase of ¥147 million, or 14.3%, year on year.」
Sales of core aluminum wheels increased due to higher new-vehicle sales, snowfall and other factors, and wholesale business profit also increased, temporarily reducing the earnings impact of the demand-change risk in the quarter. However, the disclosure does not state that the demand environment for high-value-added products has been resolved. - FY2021-Q2MaterialisedAnnual report
「Revenue from the automotive-related wholesale business was ¥8,792 million, down ¥843 million (8.8%) year on year, as sales of the mainstay aluminum wheels declined due to market deterioration accompanying the spread of COVID-19 and constraints on sales activities, while the previous year benefited from special demand ahead of the consumption tax increase.」
In addition to the existing risk related to the demand environment for discretionary and high-value-added products, the decline in sales of core aluminum wheels has appeared in actual results as an 8.8% decrease in revenue. - FY2020-Q3MaterialisedAnnual report
「The group is strengthening its structure to address the maturing automotive aftermarket and intensifying competition. However, the core aluminum wheel business continues to face a difficult operating environment, including a decline in high-value-added wheels due to customers' preference for lower prices, lower volumes resulting from changes in customers' distribution channels, and stagnant selling prices.」
The decline in high-value-added wheels due to customers' preference for lower prices, lower volumes resulting from changes in customers' distribution channels, and stagnant selling prices continue to be described as actual operating conditions. - FY2020-Q2MaterialisedAnnual report
「The group is strengthening its structure to address the maturing automotive aftermarket and intensifying competition. However, the core aluminum wheel business continues to face a difficult operating environment, including a decline in high-value-added wheels due to customers' preference for lower prices, lower volumes resulting from changes in customers' distribution channels, and stagnant selling prices.」
The decline in high-value-added wheels due to customers' preference for lower prices, lower volumes resulting from changes in customers' distribution channels, and stagnant selling prices continue to be described as actual operating conditions. - FY2020-Q1MaterialisedAnnual report
「The core aluminum wheel business continues to face a difficult operating environment, including a decline in high-value-added wheels due to customers' preference for lower prices, lower volumes resulting from changes in customers' distribution channels, and stagnant selling prices.」
The company states that, in addition to a decline in high-value-added wheels due to customers' preference for lower prices, volumes have fallen as a result of changes in customers' distribution channels. Changes in demand for discretionary and high-value-added products are reflected in actual business conditions. - FY2019-Q3MaterialisedAnnual report
「Operating profit increased by 1.3% year on year to ¥1,562 million, supported, like revenue, by the effect of Logix Co., Ltd., despite negative effects including a decline in high-value-added wheels as customers favored lower prices and the impact of higher raw material prices and other factors. Ordinary profit similarly increased by 6.7% year on year to ¥1,721 million.」
The decline in high-value-added wheels due to customers' preference for lower prices was actually cited, along with the impact of higher raw material and other prices, as a factor behind the decline in profit. - FY2019-Q2MaterialisedAnnual report
「Operating profit was ¥351 million, down 31.5% year on year, as sales of high- and mid-range products, particularly among the core aluminum wheel products, stagnated, while higher raw material and other prices also increased costs.」
Stagnant sales of high- and mid-range aluminum wheels were actually cited as a factor behind the 31.5% year-on-year decline in operating profit. - FY2019-Q1MaterialisedAnnual report
「Meanwhile, operating profit decreased by ¥124 million to ¥129 million, a 49.1% decline year on year, as premium and mid-grade products among the core aluminum wheels struggled to gain traction, compounded by the impact of higher costs resulting from price increases for raw materials and other items.」
Weak sales of mid- to high-end aluminum wheels were actually cited as a factor behind the decline in operating profit in the quarter. - FY2018WorsenedAnnual report
「In particular, mid- to high-end aluminum wheels are highly discretionary products aimed at car and racing enthusiasts and are easily influenced by trends in design and other attributes. The company is making every effort to create highly attractive products by drawing on frontline sales information from its sales staff nationwide and the innovative sensibilities of its product planners. However, as user needs change and the products compete with those of other companies, there is no assurance that the company will secure the expected sales volumes.」
The risk has been specified in greater detail, including the possibility of failing to secure expected sales volumes because of trends, user needs and competition, and the impact on growth and profitability. - FY2016First statedAnnual report
「In particular, mid- to high-end aluminum wheels are highly discretionary products aimed at car and racing enthusiasts and are easily influenced by trends in design and other attributes.」
The company identifies dependence on trends and user needs for mid- to high-end aluminum wheels, as well as the possibility of failing to secure expected sales volumes, as risks.