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U-Next Holdings (9418) · InitiativeRestatedLatest Earnings presentation (2026-10-14): "Advanced"

Shift to Recurring Revenue in the Telecommunications Business

First written in FY2020-Q1. 12 of 18 entries say "Advanced", first in FY2021-Q1. Latest entry: 2026-10-14.

18entries
7years
2from disclosures
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How it moved
ProgressHeldSoftenedWorseRestatedFY2020-Q1 – FY2020-Q3AdvancedFY2021-Q1 – FY2021AdvancedFY2022 – FY2023-Q3AdvancedFY2024-Q3 – FY2025-H12020: 320202021: 320212022: 220222023: 320232024: 320242025: 220252026: 22026
Same theme, other companies
Stable Revenue Base from Recurring RevenueA theme 23 companies write about · 0 as a headwind · 24 as a tailwind

The whole theme swung hardest in 2019: 1 of 11 companies on the "Worse" side.

13 other companies' latest entry also says "Advanced".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Showing 14 of the 23 companies compared. The sentences above are computed from all 23.
Full recordFilings, disclosures and news, newest first
  1. FY2025RestatedAnnual report

    「For business customers, we provide a range of services tailored to their needs, primarily including the fiber-optic broadband service “USEN Hikari plus,” provided directly by USEN NETWORKS Co., Ltd., the ISP service “USEN NET,” and next-generation IP telephone services.」

    Our business strategy continues to focus on providing subscription-based services, including our own fiber-optic broadband service, and shifting from an agency commission-based model to a recurring revenue model.
  2. FY2025-H1AdvancedAnnual report

    「At ㈱USEN NETWORKS, new customer acquisition for its own corporate “USEN光plus” fibre-optic service has continued to increase steadily through collaboration and initiatives with various companies, enabling a shift from a one-off commission model to a recurring revenue model, while the customer base has also grown steadily.」

    New customer acquisition and the customer base for corporate USEN光plus are steadily increasing, and the shift from a one-off commission model to a recurring revenue model is being updated.
  3. FY2024AdvancedAnnual report

    「The shift from a one-off commission model to a recurring revenue model has progressed, and the customer base has also grown steadily.」

    For USEN光plus, continued growth in new customer acquisition and the customer base confirms the shift from a one-off commission model to a recurring revenue model for the full fiscal year.
  4. FY2024-Q3AdvancedAnnual report

    「At ㈱USEN NETWORKS, new customer acquisition for its own corporate “USEN光plus” fibre-optic service has continued to increase steadily, enabling a shift from a one-off commission model to a recurring revenue model, while the customer base has also grown steadily.」

    The company states that new customer acquisition and the customer base for corporate USEN光plus are steadily increasing and that the shift from a one-off commission model to a recurring revenue model is progressing.
  5. FY2024-Q1RestatedAnnual report

    「At ㈱USEN NETWORKS, new customer acquisition for its own corporate “USEN光plus” fibre-optic service has continued to increase steadily, enabling a shift from a one-off commission model to a recurring revenue model.」

    The company continues to report increased new customer acquisition for USEN光plus and a shift from a one-off commission model to a recurring revenue model.
  6. FY2023-Q3AdvancedAnnual report

    「At ㈱USEN NETWORKS, new customer acquisition for its own corporate “USEN光 plus” fibre-optic service has been steadily increasing, enabling a shift from a one-off commission model to a recurring revenue model.」

    The company states that new customer acquisition for corporate USEN光 plus is steadily increasing and that the shift from a one-off commission model to a recurring revenue model is progressing.
  7. FY2023-Q2AdvancedAnnual report

    「At ㈱USEN NETWORKS, new customer acquisition for its own corporate “USEN光 plus” fibre-optic service has been steadily increasing, enabling a shift from a one-off commission model to a recurring revenue model.」

    New customer acquisition for corporate USEN光 plus is steadily increasing, and the company is shifting from a one-off commission model to a recurring revenue model.
  8. FY2023-Q1AdvancedAnnual report

    「At ㈱USEN NETWORKS, new customer acquisition for its own corporate “USEN光 plus” fibre-optic service has been steadily increasing, enabling a shift from a one-off commission model to a recurring revenue model.」

    The company states that new customer acquisition for corporate “USEN光 plus” is steadily increasing and that the shift from a one-off commission model to a recurring revenue model is progressing.
  9. FY2022AdvancedAnnual report

    「The company also began handling the “U-NEXT” video streaming service operated by U-NEXT, a group company, and launched “エンタメ割,” which offers benefits to customers signing new contracts for both “USEN光01” and “U-NEXT.”」

    In addition to monetising “USEN光01” through recurring revenue, the company began bundled sales with U-NEXT and launched “エンタメ割,” making the expansion of its own service usage through cross-selling more specific.
  10. FY2022-Q2Mass cancellations by a major existing customerAnnual report

    「At ㈱USEN NETWORKS, mass cancellations occurred during the quarter due to the bankruptcy of a major existing customer of its corporate “USEN光 plus” fibre-optic service. However, new customer acquisition remained steady, enabling a shift from a one-off commission model to a recurring revenue model.」

    The company states that, while it was pursuing a shift toward recurring revenue, mass cancellations due to the bankruptcy of a major existing customer occurred during the quarter, whereas new customer acquisition remained steady.
  11. FY2021AdvancedAnnual report

    「The company also began accepting applications for a new “B2B2X model” using the “USEN光plus” fibre-optic service.」

    In addition to shifting toward recurring revenue through its own fibre-optic service, the company has launched a B2B2X model in which companies provide business-use fibre-optic lines to their employees.
  12. FY2021-Q3AdvancedAnnual report

    「The company also began accepting applications for a new “B2B2X model” using the “USEN光plus” fibre-optic service.」

    In addition to shifting toward recurring revenue through its own “USEN光plus” service, the company began accepting applications for a “B2B2X model” in which companies provide business-use fibre-optic lines to their employees.
  13. FY2021-Q1AdvancedAnnual report

    「The company steadily acquired its own services, including the “USEN光plus” fibre-optic service, rather than relying on the agency business, which generates one-off commissions, and is shifting toward more stable earnings through growth in recurring revenue.」

    The company is shifting from an agency commission model to acquiring contracted lines for its own services, including “USEN光plus,” and is making the stabilisation of earnings through recurring revenue more specific.
  14. FY2020-Q3RestatedAnnual report

    「The company has steadily acquired contracted lines and other services through its own service offerings, rather than through the agency business, which generates one-off commissions, and is shifting toward more stable earnings through growth in recurring revenue.」

    The company has reiterated its policy of shifting from an agency commission model to acquiring contracted lines through its own services and expanding recurring revenue.
  15. FY2020-Q2RestatedAnnual report

    「The company has steadily acquired contracted lines and other services through its own service offerings, rather than through the agency business, which generates one-off commissions, and is shifting toward more stable earnings through growth in recurring revenue.」

    The company has reiterated its policy of shifting in the telecommunications business from an agency commission model to acquiring contracted lines through its own services and expanding recurring revenue.
  16. FY2020-Q1First statedAnnual report

    「The company has steadily acquired contracted lines and other services through its own service offerings, rather than through the agency business, which generates one-off commissions, and is shifting toward more stable earnings through growth in recurring revenue.」

    The company has stated for the first time its policy of shifting in the telecommunications business from one-off agency commissions to acquiring contracted lines through its own services, thereby stabilising earnings through recurring revenue.
Moved together

"Expanding the Group’s Overall Business Scale" moved the same way as this thread, in the same document, in 12 of its 18 moves.

1212101099★123456
  1. ★This thread
  2. 1Expanding the Group’s Overall Business Scale12×
  3. 2Customer retention and expansion and improved customer satisfaction for U-NEXT12×
  4. 3USEN Group’s B2B One-Stop Solutions and Expanded Service Lineup10×
  5. 4Entry into the Energy Business and Electricity Sales10×
  6. 5Deterioration in Profit Levels Amid Sales Growth9×
  7. 6New Products and Expansion into New Markets for Business-Use Systems9×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

When this could move next
U-Next Holdings's next results are scheduled for 2026-10-14. Read the earnings preview It last moved in the Earnings presentation of 2026-10-14: "Advanced".
News
No news is linked to this thread yet. When an article touches it, it will appear here by date.
Shift to Recurring Revenue in the Telecommunications Business | U-NEXT HOLDINGS Co.,Ltd. (9418) | Komori