Quarterly fluctuations in performance due to development and construction timing
First written in FY2016-Q3. 27 of 31 entries say "Restated". Latest entry: 2026-05-27.
Meiho Enterprise moved to the "Worse" side of this theme in 2026, 2 years after the typical company in this theme (2024).
The whole theme swung hardest in 2025: 6 of 18 companies on the "Worse" side.
3 other companies' latest entry also says "Materialised".
- FY2025RestatedAnnual report
「In the real estate development business, revenue is recognized when properties are handed over to customers. Handover dates tend to be concentrated from February to March, when transfers and relocations are generally more common, resulting in a tendency for revenue recognition to be concentrated in the second half of the fiscal year. In addition, if an unforeseen event such as a natural disaster delays a property handover beyond the fiscal year-end, or if a property scheduled for completion and handover near the fiscal year-end is handed over to the customer in the following fiscal year, the Group’s earnings for the relevant fiscal year may be affected.」
The concentration of revenue recognition in the second half due to the timing of property completion and handover, and the risk of earnings fluctuations caused by delays or slippage into the following fiscal year, continue. - FY2025-H1RestatedAnnual report
「In the Group's real estate sales business, revenue is recognized when completed buildings are handed over to buyers. Accordingly, quarterly sales tend to be uneven depending on development timing, construction schedules and other factors.」
The structure causing quarterly sales to be uneven depending on the timing of completion and handover continues to be disclosed. - FY2024-Q3RestatedAnnual report
「In the Group's real estate sales business, revenue is recognized when completed buildings are handed over to buyers. Accordingly, quarterly sales tend to be uneven depending on development timing, construction schedules and other factors.」
The structure causing quarterly sales to be uneven depending on the timing of completion and handover continues to be disclosed. - FY2024-Q2RestatedAnnual report
「In the Group's real estate sales business, revenue is recognized when completed buildings are handed over to buyers. Accordingly, quarterly sales tend to be uneven depending on development timing, construction schedules and other factors.」
The structure causing quarterly sales to be uneven depending on the timing of completion and handover continues to be disclosed. - FY2023RestatedAnnual report
「Handover dates tend to be concentrated from February to March, when transfers and relocations are generally more common, resulting in a tendency for revenue recognition to be concentrated in the second half of the fiscal year. In addition, if an unforeseen event such as a natural disaster delays a property handover beyond the fiscal year-end, or if a property scheduled for completion and handover near the fiscal year-end is handed over to the customer in the following fiscal year, the Group’s earnings for the relevant fiscal year may be affected.」
In addition to the concentration of handovers in the second half, the report cites the risk of earnings fluctuations caused by delays extending beyond the fiscal year-end or into the following fiscal year due to natural disasters or other events. - FY2023-Q2RestatedAnnual report
「In the Group's real estate sales business, revenue is recognized when completed buildings are handed over to buyers. Accordingly, quarterly sales tend to be uneven depending on development timing, construction schedules and other factors.」
The quarterly earnings skew caused by the timing of completion and handover continues to be disclosed. - FY2022RestatedAnnual report
「Handover dates tend to be concentrated from February to March, when transfers and relocations are generally more common, resulting in a tendency for revenue recognition to be concentrated in the second half of the fiscal year.」
The structure in which revenue is concentrated in the second half due to the seasonality of property handovers continues to be disclosed. - FY2022-Q3RestatedAnnual report
「In the Group's real estate sales business, revenue is recognized when completed buildings are handed over to buyers. Accordingly, quarterly sales tend to be uneven depending on development timing, construction schedules and other factors.」
The structure causing quarterly earnings to be uneven depending on the timing of completion and handover continues to be disclosed. - FY2022-Q2RestatedAnnual report
「In the Group's real estate sales business, revenue is recognized when completed buildings are handed over to buyers. Accordingly, quarterly sales tend to be uneven depending on development timing, construction schedules and other factors.」
The structure causing quarterly earnings to be uneven depending on the timing of completion and handover continues to be disclosed. - FY2022-Q1RestatedAnnual report
「In the Group's real estate sales business, revenue is recognized when completed buildings are handed over to buyers. Accordingly, quarterly sales tend to be uneven depending on development timing, construction schedules and other factors.」
The structure causing quarterly earnings to be uneven depending on the timing of completion and handover continues to be disclosed. - FY2021-Q3RestatedAnnual report
「In the Group's real estate sales business, revenue is recognized when completed buildings are handed over to buyers. Accordingly, quarterly sales tend to be uneven depending on development timing, construction schedules and other factors.」
The quarterly earnings skew caused by the timing of completion and handover continues to be disclosed. - FY2021-Q2RestatedAnnual report
「In the Group's real estate sales business, revenue is recognized when completed buildings are handed over to buyers. Accordingly, quarterly sales tend to be uneven depending on development timing, construction schedules and other factors.」
The quarterly earnings skew caused by the timing of completion and handover continues to be disclosed. - FY2021-Q1RestatedAnnual report
「In the Group's real estate sales business, revenue is recognized when completed buildings are handed over to buyers. Accordingly, quarterly sales tend to be uneven depending on development timing, construction schedules and other factors.」
The structure causing quarterly earnings to be uneven depending on the timing of completion and handover continues to be disclosed. - FY2020-Q3RestatedAnnual report
「In the Group's real estate sales business, revenue is recognized when completed buildings are handed over to buyers. Accordingly, quarterly sales tend to be uneven depending on development timing, construction schedules and other factors.」
The quarterly earnings skew caused by the timing of completion and handover continues to be disclosed. - FY2020-Q2RestatedAnnual report
「In the Group's real estate sales business, revenue is recognized when completed buildings are handed over to buyers. Accordingly, quarterly sales tend to be uneven depending on development timing, construction schedules and other factors.」
The quarterly earnings skew caused by the timing of completion and handover continues to be disclosed. - FY2020-Q1RestatedAnnual report
「In the Group's real estate sales business, revenue is recognized when completed buildings are handed over to buyers. Accordingly, quarterly sales tend to be uneven depending on development timing, construction schedules and other factors.」
The quarterly earnings skew caused by the timing of completion and handover continues to be disclosed. - FY2019RestatedAnnual report
「Handover dates tend to be concentrated from February to March, when transfers and relocations are generally more common, resulting in a tendency for revenue recognition to be concentrated in the second half of the fiscal year.」
The seasonality of revenue recognition concentrated in the second half due to handover timing, and the risk of earnings fluctuations caused by delays extending beyond the fiscal year-end, continue. - FY2019-Q3RestatedAnnual report
「In the Group's real estate sales business, revenue is recognized when completed buildings are handed over to buyers. Accordingly, quarterly sales tend to be uneven depending on development timing, construction schedules and other factors.」
The structure causing quarterly sales to be uneven depending on the timing of completion and handover is reiterated. - FY2019-Q2RestatedAnnual report
「In the Group's real estate sales business, revenue is recognized when completed buildings are handed over to buyers. Accordingly, quarterly sales tend to be uneven depending on development timing, construction schedules and other factors.」
The structure causing quarterly sales to be uneven depending on the timing of completion and handover is reiterated. - FY2019-Q1RestatedAnnual report
「In the Group's real estate sales business, revenue is recognized when completed buildings are handed over to buyers. Accordingly, quarterly sales tend to be uneven depending on development timing, construction schedules and other factors.」
The structure causing quarterly sales to be uneven depending on the timing of completion and handover is reiterated. - FY2018-Q3RestatedAnnual report
「In the Group's real estate sales business, revenue is recognized when completed buildings are handed over to buyers. Accordingly, quarterly sales tend to be uneven depending on development timing, construction schedules and other factors.」
The structure causing quarterly sales to be uneven depending on the timing of completion and handover is reiterated. - FY2018-Q2RestatedAnnual report
「In the Group's real estate sales business, revenue is recognized when completed buildings are handed over to buyers. Accordingly, quarterly sales tend to be uneven depending on development timing, construction schedules and other factors.」
The structure causing quarterly sales to be uneven depending on the timing of completion and handover is reiterated. - FY2018-Q1RestatedAnnual report
「In the Group's real estate sales business, revenue is recognized when completed buildings are handed over to buyers. Accordingly, quarterly sales tend to be uneven depending on development timing, construction schedules and other factors.」
The structure causing quarterly sales to be uneven depending on the timing of completion and handover is reiterated. - FY2017-Q3RestatedAnnual report
「In the Group's real estate sales business, revenue is recognized when completed buildings are handed over to buyers. Accordingly, quarterly sales tend to be uneven depending on development timing, construction schedules and other factors.」
The structure causing quarterly sales to be uneven depending on the timing of completion and handover is reiterated. - FY2017-Q2RestatedAnnual report
「In the Group's real estate sales business, revenue is recognized when completed buildings are handed over to buyers. Accordingly, quarterly sales tend to be uneven depending on development timing, construction schedules and other factors.」
The structure causing quarterly sales to be uneven depending on the timing of completion and handover is reiterated. - FY2017-Q1RestatedAnnual report
「In the Group's real estate sales business, revenue is recognized when completed buildings are handed over to buyers. Accordingly, quarterly sales tend to be uneven depending on development timing, construction schedules and other factors.」
The structure causing quarterly sales to be uneven depending on the timing of completion and handover is reiterated. - FY2016RestatedAnnual report
「In the real estate sales business, revenue is recognized when properties are handed over to customers. Handover dates tend to be concentrated from February to March, when transfers and relocations are generally more common, resulting in a tendency for revenue recognition to be concentrated in the second half of the fiscal year.」
The seasonality and quarterly concentration of revenue recognition due to the timing of property completion and handover continue to be disclosed as a full-year risk. - FY2016-Q3First statedAnnual report
「In the Group's real estate sales business, revenue is recognized when completed buildings are handed over to buyers. Accordingly, quarterly sales tend to be uneven depending on development timing, construction schedules and other factors.」
The structure causing quarterly sales to be uneven depending on the timing of completion and handover is described.