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NJ Holdings (9421) · RiskDiversification of major customers and emergence of new concentrated customers

Concentration of sales among major customers

First written in FY2016. 4 of 8 entries say "Mitigated", first in FY2021. Latest entry: FY2026.

8entries
11years
0from disclosures
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How it moved
ProgressHeldSoftenedWorseFirst statedFY2016WorsenedFY2018 – FY2020MitigatedFY2021 – FY20252016: 120162017: 020172018: 120182019: 020192020: 120202021: 120212022: 120222023: 020232024: 120242025: 120252026: 12026
Same theme, other companies
Dependence on Specific Customers for RevenueA theme 90 companies write about · 90 as a headwind · 0 as a tailwind

NJ Holdings moved to the "Worse" side of this theme in 2018, 6 years before the typical company in this theme (2024).

The whole theme swung hardest in 2025: 22 of 67 companies on the "Worse" side.

26 other companies' latest entry also says "Other".

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 90 companies compared. The sentences above are computed from all 90.
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  1. FY2026Diversification of major customers and emergence of new concentrated customersAnnual report

    「Bandai Namco Entertainment Inc.　1,776,188　17.9　J-Communication Co., Ltd.　1,782,556　17.9　SNK CORPORATION　1,458,771　14.7　GungHo Online Entertainment, Inc.　1,054,451　10.6　Nintendo Co., Ltd.　1,001,595　10.1」

    The number of customers accounting for more than 10% of revenue increased from 3 to 5, and while the combined share of the top 3 customers was 50.5%, GungHo Online Entertainment and Nintendo also became major customers accounting for more than 10%.
  2. FY2025MitigatedAnnual report

    「Bandai Namco Entertainment Co., Ltd.　2,131,955　23.4　J-Communication Co., Ltd.　1,627,507　17.9　SNK Co., Ltd.　910,147　10.0」

    The three major customers accounted for a combined 51.3% of sales, down from the previous fiscal year's 57.8%. Sales remain concentrated among major customers, but the concentration eased year on year.
  3. FY2024MitigatedAnnual report

    「Bandai Namco Entertainment Co., Ltd.　3,153,170　32.5　J-Communication Co., Ltd.　1,423,525　14.7　Square Enix Co., Ltd.　1,023,407　10.6」

    The three major customers accounted for a combined 57.8% of sales, down from the previous fiscal year's combined 60.0%. Concentration remains high but eased further year on year.
  4. FY2022MitigatedAnnual report

    「Square Enix Co., Ltd.　3,089,529　29.0　Bandai Namco Entertainment Co., Ltd.　2,419,338　22.7　J-Communication Co., Ltd.　1,806,293　17.0」

    The three major customers accounted for a combined 68.7% of sales, down 1.6 percentage points from 70.3% in the previous fiscal year. Concentration remains high but declined year on year.
  5. FY2021MitigatedAnnual report

    「Square Enix Co., Ltd.　3,979,356　33.2　Bandai Namco Entertainment Co., Ltd.　2,445,052　20.4　J-Communication Co., Ltd.　1,874,018　15.6」

    The three major customers accounted for a combined 69.2% of sales, down 1.1 percentage points from the previous fiscal year's 70.3%. Concentration remains high but declined slightly from the immediately preceding fiscal year.
  6. FY2020WorsenedAnnual report

    「Square Enix Co., Ltd.　5,157,868　35.6　J-Communication Co., Ltd.　3,008,398　20.8　Bandai Namco Entertainment Co., Ltd.　2,016,282　13.9」

    The three major customers accounted for a combined 70.3% of sales. Sales concentration among major customers increased further from the combined 60.3% of the two major customers identified previously.
  7. FY2018WorsenedAnnual report

    「Square Enix Co., Ltd.　3,812,537　33.6　J-Communication Co., Ltd.　3,030,980　26.7」

    The two major customers accounted for a combined 60.3% of sales, with Square Enix at 33.6% and J-Communication at 26.7%, indicating greater concentration than in the previous fiscal year.
  8. FY2016First statedAnnual report

    「Square Enix Co., Ltd.」

    Square Enix accounted for 30.1% of sales for the period, J-Communication for 26.2% and Rannet Communications for 11.7%, indicating a concentration of sales among major customers.
Moved together

"Expanding Recruitment and Registered Worker Numbers and Improving Productivity in the Temporary Staffing Business" moved the same way as this thread, in the same document, in 3 of its 8 moves.

332222★123456
  1. ★This thread
  2. 1Expanding Recruitment and Registered Worker Numbers and Improving Productivity in the Temporary Staffing Business3×
  3. 2Excess Liabilities at Game Subsidiary3×
  4. 3Improving the Profitability of Mobile Stores and Focusing the Business Base2×
  5. 4Strengthening management oversight and governance through the election of an outside director2×
  6. 5Valuation Losses on Investment Securities and Market Price Fluctuation Risk2×
  7. 6Borrowings and Financial Covenants Associated with the Succession of ウィットワン2×

★ 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.

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Concentration of sales among major customers | NJ Holdings Inc. (9421) | Komori