Earnings deterioration due to the downsizing and freezing of existing projects and intensifying sales competition
First written in FY2017-Q3. 2 of 5 entries say "Worsened", first in FY2019. Latest entry: FY2023.
No other company in this theme has enough history to compare yet.
- FY2023WorsenedAnnual report
「Due to lower test media usage, sales to major customers, including manufacturers of in-vehicle equipment such as car audio and car navigation systems, fell below both the previous year's revenue and the current year's plan.」
The sales shortfall resulting from lower usage of test media for existing automotive equipment customers continued through the full year. - FY2019WorsenedAnnual report
「Sales of test media to major customers in the in-vehicle equipment market, including car audio and car navigation systems, fell short of plan due to factors including lower test media usage.」
The full-year shortfall against plan due to lower usage of test media by existing customers was confirmed, and revenue in the business declined 24.0% year on year. - FY2019-Q2RestatedAnnual report
「Sales of test media to major customers in the in-vehicle equipment market, including car audio and car navigation systems, fell short of plan due to factors including lower test media usage.」
The sales plan continues to fall short due to lower usage volumes in existing markets. - FY2017MaterialisedAnnual report
「In Japan, the Company sought to expand large orders, including engineering and construction projects for industrial furnace heating plants. However, as companies adopted a more cautious approach to capital investment amid uncertainty over the economic outlook, existing projects were downsized or frozen, causing results to fall short of plan.」
The downsizing and freezing of existing projects was reflected in the insulation materials business falling short of its full-year plan. - FY2017-Q3First statedAnnual report
「As a result, revenue for the first nine months of the current consolidated fiscal year was ¥2,323 million, down 21.9% year on year, due to the downsizing and suspension of existing projects and falling selling prices amid intensifying sales competition. Operating profit was ¥58 million, down 43.0% year on year.」
The downsizing and freezing of existing projects and price declines caused by sales competition were reflected in a 21.9% decrease in revenue and a 43.0% decrease in operating profit.