Dependence on Specific Customers
First written in FY2022. 2 of 4 entries say "Worsened", first in FY2025. Latest entry: FY2026.
SE Holdings and Incubations moved to the "Worse" side of this theme in 2025, 3 years after the typical company in this theme (2022).
The whole theme swung hardest in 2017: 4 of 15 companies on the "Worse" side.
6 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「Four customers, including major book wholesalers, account for 28% of the Group’s consolidated net sales. The Group is addressing this risk through multifaceted business development, including diversifying book distribution channels and its business portfolio.」
The number of customers on which the Group depends, including major book wholesalers, increased from 3 to 4, and their share of consolidated net sales rose from 26% previously to 28%. Diversification of distribution channels and the business portfolio continues as the response. - FY2025WorsenedAnnual report
「Three customers, including major book wholesalers, account for 26% of the Group’s consolidated net sales.」
The Group’s reliance on 3 major customers, including book wholesalers, increased from 25% in the previous disclosure to 26%. Diversification of book distribution channels and the business portfolio continues as the response. - FY2023MitigatedAnnual report
「Three customers, including major book wholesalers, account for 25% of the Group’s consolidated net sales. The Group is addressing this risk through multifaceted business development, including diversifying book distribution channels and its business portfolio.」
The Group’s reliance on 3 major customers, including book wholesalers, decreased from 32% in the previous disclosure to 25%. Diversification of book distribution channels and the business portfolio continues as the response. - FY2022First statedAnnual report
「Three customers, including major book wholesalers, account for 32% of the Group’s consolidated net sales. The Group is addressing this risk through multifaceted business development, including diversifying book distribution channels and its business portfolio. However, significant changes in the business policies of these customers could affect the Group’s operating results.」
Customer concentration, with 3 customers including major book wholesalers accounting for 32% of consolidated net sales, was identified explicitly as a standalone risk for the first time. Diversification of book distribution channels and the business portfolio are the stated responses.