Downside in Agricultural Equipment Sales Due to Delays in Facility Construction Completion
First written in FY2019-Q1. 2 of 4 entries say "Materialised", first in FY2019-Q1. Latest entry: FY2021-Q3.
Nepon moved to the "Worse" side of this theme in 2018.
0 other companies' latest entry also says "Restated".
- FY2021-Q3RestatedAnnual report
「Although the agricultural equipment division of the thermal equipment business, which is a core business of our Group, continued to face restrictions on sales activities through the third quarter due to the COVID-19 pandemic, sales decreased substantially because completion of large-scale facility horticulture heating projects was concentrated in the first quarter of the previous fiscal year and there was front-loaded demand ahead of the consumption tax increase in the second quarter of the previous fiscal year, among other factors.」
Restrictions on sales activities, the concentration of large-scale construction completions in the same period of the previous year, and the backlash from front-loaded demand ahead of the consumption tax increase continue to put downward pressure on agricultural equipment sales. - FY2020-Q3ReframedAnnual report
「The agricultural equipment division of our core Thermal Equipment business fell below the same period of the previous year, mainly due to delays in delivery of facility horticulture heating systems caused by typhoon damage and the impact of the consumption tax increase.」
In addition to the previous delays in facility construction completion, the factors cited this time as putting downward pressure on agricultural equipment sales were delays in the delivery of heating construction caused by typhoon damage and the impact of the consumption tax increase. - FY2020-Q1MaterialisedAnnual report
「The agricultural equipment division of the thermal equipment business, which is a core business of our Group, focused on proactive sales activities, but sales fell below the same period of the previous year, mainly because completion of facility horticulture construction was delayed until the second quarter or later.」
Completion of facility horticulture construction was delayed until the second quarter or later, and this was again reflected in the results as agricultural equipment division sales falling below the same period of the previous year. - FY2019-Q1MaterialisedAnnual report
「Agricultural equipment, the core product of the Group’s thermal equipment business, underperformed the same period of the previous year because completion of facility construction was pushed back to after the second quarter, despite a focus on proactive sales activities. The Group also focused on aggressively expanding sales of general-purpose equipment, but this was insufficient to offset the decline in agricultural equipment sales. As a result, net sales in the thermal equipment business totaled ¥1.228 billion, down 0.5% year on year.」
Completion of facility construction was delayed until the second quarter or later, and this was reflected in the results as agricultural equipment sales falling below the same period of the previous year.