Advance Recognition of Costs Due to Schedule Delays in Smart Agriculture Projects
First written in FY2019-Q3. 4 of 9 entries say "Restated". Latest entry: FY2026.
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- FY2026MitigatedAnnual report
「As a whole, X-Tech posted higher income because our accumulated energy-saving technologies were effectively applied to business operations in the smart-agriculture field, achieving profitability for the full year.」
X-Tech overall, including Smart Agri, became profitable for the full fiscal year, partially reducing the previous risk of losses from business launches and upfront costs. - FY2025MitigatedAnnual report
「In the Smart Agri field, the company secured earnings by pursuing a high-value-added product strategy and continued to generate monthly profits from the latter half of the fiscal period.」
It explains that, in contrast to the previously weak performance caused by project schedule postponements and preparations for the business model transition, the high-value-added product strategy enabled the company to maintain monthly profitability from the latter half of the fiscal period. - FY2023-Q3RestatedAnnual report
「In the Smart Agri field, the company continues to work toward full-scale spinach production at “Block FARM,” the next-generation plant factory completed in May 2022 and the world’s first enclosed, artificial-light plant factory to achieve mass production of spinach.」
The company continues to work toward full-scale spinach production following completion of the plant factory. No new milestone, such as completion of mass production, is indicated. - FY2023-Q2RestatedAnnual report
「In the Smart Agri field, the company continues to work toward the full-scale production of spinach at the next-generation plant factory “Block FARM,” completed in May 2022, which is the world’s first enclosed, artificial-light plant factory to achieve mass production of spinach.」
Following completion of the plant factory, the company continues to work toward the world’s first mass production of spinach at an enclosed, artificial-light plant factory. X-Tech overall continues to report an operating loss of ¥97 million. - FY2023-Q1MitigatedAnnual report
「In the Smart Agri field, the next-generation plant factory “Block FARM” was completed in May 2022, and the company is working to launch its production business as soon as possible.」
Preparations for the business model transition and a focus on constructing its own plant factory had previously been identified as factors behind weak performance, but the factory was completed during the quarter and the company has moved into the launch phase of its production business. - FY2022-Q3RestatedAnnual report
「Meanwhile, performance in the Smart Agri field was weak because the company focused on constructing its own plant factory in preparation for the transition to a production business model.」
It explains that the company is focusing on constructing its own plant factory in preparation for the transition to a production business model in the Smart Agri field. No new milestone, such as completion of construction, is indicated. - FY2022-Q2RestatedAnnual report
「Meanwhile, performance in the Smart Agri field was weak because it coincided with a preparation period for the transition to a production business model, while new orders for factory management systems, including monitoring systems, remained weak in the network systems field.」
In the Smart Agri field, the preparation period for the transition to a production business model was a factor behind weak performance, while new orders for factory management systems were also weak in the network systems field. - FY2021Weak performance due to preparations for the business model transitionAnnual report
「In the Smart Agri field, a large-scale plant factory project was recognized in the first half of the fiscal year, but performance was weak in the second half because it coincided with a preparation period for the transition to a production business model.」
In addition to the early recognition of costs due to the previously postponed project schedule, the preparation period for the transition to a production business model was identified as a factor behind weak performance in the Smart Agri business in the second half of the fiscal year. - FY2019-Q3First statedAnnual report
「However, the early recognition of selling, general and administrative expenses and other costs due to the postponement of the project schedule in the Smart Agri field had a significant impact, resulting in an operating loss.」
It states that the postponement of the project schedule in the Smart Agri field and the early recognition of selling, general and administrative expenses and other costs had a significant impact on the operating loss.