Delayed acceptance of a large project
First written in FY2018-Q2. 7 of 12 entries say "Materialised", first in FY2018-Q2. Latest entry: FY2026.
Avix moved to the "Worse" side of this theme in 2019, 1 year before the typical company in this theme (2020).
The whole theme swung hardest in 2024: 5 of 6 companies on the "Worse" side.
0 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「In the information equipment division, we have steadily won projects across a diverse range of industries, including large stadiums and arenas, major commercial facilities, the sports market, office entrances and multiplex cinemas, and applications and industries are becoming increasingly diverse.」
While the concentration of acceptance for large projects had previously pressured performance, the company steadily received orders across a range of industries during the period, expanding revenue to ¥5,406.080 million. - FY2023MitigatedAnnual report
「The absorption-type company split involving part of the business of Proteras Co., Ltd., carried out on 1 November 2021 as part of this initiative, contributed to performance throughout the year from the current consolidated fiscal year, resulting in a substantial increase in revenue.」
Whereas previous filings had described the concentration of project acceptance in a particular period and the resulting lack of revenue contribution, this filing explains that the Proteras business contributed to performance throughout the year. - FY2023-Q3MaterialisedAnnual report
「However, price competition resulting from new competitors entering the market as the signage market expanded, higher procurement prices caused by the yen's depreciation, and the concentration of acceptance for second-half projects in the fourth quarter, among other factors, resulted in an operating loss for the third-quarter cumulative consolidated period.」
Acceptance of second-half projects was concentrated in the fourth quarter, and the resulting lack of contribution to revenue and profit during the third-quarter cumulative period actually occurred and was cited as a factor behind the operating loss. - FY2023-Q2MitigatedAnnual report
「The effects of these initiatives, together with stronger collaboration with distributors and the development of new markets leveraging our integrated production capabilities, became evident. In the second quarter, revenue increased substantially as the company expanded into sports facilities such as stadiums, large chain stores in the food service and retail industries, and large commercial facilities.」
The previous quarter stated that large projects had not contributed to first-quarter revenue, whereas this filing states that revenue increased substantially in the second quarter as the company expanded into sports facilities, large commercial facilities and other areas. The resolution of the acceptance delay itself was not explicitly stated. - FY2023-Q1MaterialisedAnnual report
「However, large projects are concentrated in the second half and did not contribute to revenue in the first quarter, while the sharp depreciation of the yen drove up procurement prices and pressured profitability, resulting in an operating loss.」
The disclosure states that large projects were concentrated in the second half and did not contribute to revenue in the first quarter. - FY2021-Q3MaterialisedAnnual report
「However, acceptance of projects is concentrated in the fourth quarter, and their contribution to performance is also expected to occur during that period.」
The disclosure states that project acceptance is concentrated in the fourth quarter and that the contribution to performance is also expected during that period. The existing risk relating to timing differences in large projects and project acceptance continues to materialize. - FY2020-Q2MaterialisedAnnual report
「Among these, during the second quarter, large projects did not progress to the point of being recognized as revenue, resulting in lackluster performance, but they are expected to contribute to performance in the second half.」
The disclosure states that large projects did not progress to revenue recognition during the second quarter. It also states that they are expected to contribute to performance in the second half. - FY2020-Q1MaterialisedAnnual report
「Among these, during the first-quarter accounting period, large projects did not progress to the point of being recognized as revenue, resulting in lackluster performance, but they are expected to contribute to performance in the second half.」
The disclosure states that large projects did not progress to revenue recognition during the first-quarter accounting period, resulting in lackluster performance. It also states that they are expected to contribute to performance in the second half. - FY2019-Q3MaterialisedAnnual report
「Among these, during the third-quarter consolidated accounting period, large projects did not progress to the point of being recognized as revenue, resulting in lackluster performance, but they are expected to contribute to performance toward the end of the fiscal year.」
The disclosure states that large projects did not progress to revenue recognition during the third-quarter accounting period, resulting in lackluster performance. It also states that they are expected to contribute to performance toward the end of the fiscal year. - FY2019-Q2MitigatedAnnual report
「In addition, as large projects tend to be concentrated in the second half, they are expected to contribute to future performance.」
The delay in accepting the large project mentioned in the previous quarter was not mentioned again, and the company explained that large projects were expected to contribute to performance in the second half. However, the resolution of the acceptance delay itself was not explicitly stated. - FY2018-Q3MitigatedAnnual report
「The information equipment market is trending upward due to lower product prices and Olympic-related demand, while large projects are performing steadily.」
The delay in accepting a large project that occurred in the previous quarter was not mentioned again this quarter, and the company explained that large projects were progressing steadily, weakening the disclosure of the risk. However, the resolution of the acceptance delay itself was not explicitly stated. - FY2018-Q2MaterialisedAnnual report
「Although delays have occurred in the acceptance inspection of large projects, the market continues to expand as a result of handling Chinese-made LED displays.」
The disclosure states that acceptance of a large project was in fact delayed in the Information Equipment business. The amount and duration of the delay were not disclosed.