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SE Holdings and Incubations (9478) · RiskWorsened

Weak inquiry activity from foreign-affiliated clients

First written in FY2016. 8 of 24 entries say "Mitigated", first in FY2018-Q1. Latest entry: 2026-07-23.

24entries
11years
2from disclosures
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How it moved
ProgressHeldSoftenedWorseWorsenedFY2019-Q1 – FY2021-Q2MitigatedFY2023-Q2 – FY20242016: 320162017: 420172018: 220182019: 020192020: 220202021: 420212022: 320222023: 120232024: 120242025: 220252026: 22026
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  1. FY2026-H1WorsenedAnnual report

    「In the corporate services business, mainly due to continued lower orders from existing clients, revenue was ¥304 million, down 13.6% year on year, and segment loss (operating loss) was ¥22 million, an improvement of ¥1 million from the previous year.」

    Orders from existing clients continued to decline, and the corporate services business remained loss-making after the previous year. The loss improved by ¥1 million from the previous year, but weak customer demand continued.
  2. FY2025WorsenedAnnual report

    「In the Corporate Services business, mainly due to a decline in orders from existing clients, net sales were ¥840 million, down 15.6% year on year, and the segment loss (operating loss) was ¥26 million, compared with segment profit of ¥82 million in the previous fiscal year.」

    Orders from existing clients declined throughout the year, and the corporate services business swung from profit in the previous fiscal year to a loss. Weak customer demand has again become more severe.
  3. FY2024MitigatedAnnual report

    「In the corporate services business, inquiries increased, mainly from existing clients, due to measures including strengthening the sales structure and developing management personnel. Revenue was ¥996 million, up 4.5% from the previous fiscal year, and segment profit (operating profit) was ¥82 million, up 24.6%, resulting in higher revenue and higher profit.」

    Inquiries increased, mainly from existing clients, resulting in higher revenue and higher profit in the corporate services business. The business description for the period indicated that the previously weak customer demand was easing.
  4. FY2023-Q3MitigatedAnnual report

    「In the corporate services business, orders increased, mainly from existing clients, around the middle of the period. However, higher marketing expenses and personnel costs resulted in revenue of ¥599 million, up 6.4% year on year, and segment profit (operating profit) of ¥27 million, down 48.4%.」

    Orders increased, mainly from existing clients, and weak customer demand eased compared with the previous quarter. However, higher marketing expenses and personnel costs reduced profit.
  5. FY2023-Q2MitigatedAnnual report

    「In the corporate services business, orders increased, mainly from existing clients, while higher marketing expenses and other factors resulted in revenue of ¥396 million, up 23.0% year on year, and segment profit (operating profit) of ¥9 million, down 36.3%.」

    Orders increased, mainly from existing clients, and the company states that weak customer demand had eased compared with the previous quarter. However, higher marketing expenses reduced profit.
  6. FY2023-Q1WorsenedAnnual report

    「In the Corporate Services business, although the number of inquiries for projects from new customers increased, orders from existing customers remained sluggish. Net sales were ¥137 million, down 7.3% year on year, and the segment loss (operating loss) was ¥13 million, compared with segment profit of ¥0 million in the same period of the previous year.」

    Although the number of inquiries from new clients increased, orders from existing clients remained sluggish, resulting in lower revenue and a swing from profit in the previous year to a loss of ¥13 million. Weak demand from existing clients has again affected performance.
  7. FY2022-Q3MitigatedAnnual report

    「In the corporate services business, revenue increased from both major and new clients, and together with cost reductions initiated at the beginning of the period, the recovery trend became more pronounced. Revenue was ¥563 million, up 22.6% year on year, and segment profit (operating profit) was ¥53 million, compared with a segment loss of ¥13 million in the previous year.」

    Increased revenue from major and new clients and cost reductions further mitigated the previously identified risk of weak customer demand, and the corporate services business turned from a loss in the previous year to a profit.
  8. FY2022-Q2MitigatedAnnual report

    「In the corporate services business, the recovery trend from the second half of the previous consolidated fiscal year was maintained. A certain level of commissioned projects was secured, mainly from major clients, and cost reductions also contributed. Revenue was ¥322 million, up 19.7% year on year, and segment profit (operating profit) was ¥14 million, compared with a segment loss of ¥26 million in the previous year.」

    The company secured a certain level of commissioned projects from major clients, and the corporate services business turned from a loss in the previous year to a profit. The weakness in demand from clients, including foreign-affiliated and existing clients, was described as having eased amid the recovery trend.
  9. FY2022-Q1MitigatedAnnual report

    「In the corporate services business, the recovery trend from the second half of the previous consolidated fiscal year was maintained and a certain level of revenue from commissioned production projects was secured. Revenue was ¥148 million, up 39.6% year on year, and segment profit (operating profit) was ¥0 million, compared with a segment loss of ¥24 million in the previous year.」

    The recovery trend from the second half of the previous consolidated fiscal year was maintained, and securing revenue from commissioned production projects improved the corporate services business from a loss in the previous year to segment profit of ¥0 million.
  10. FY2021MitigatedAnnual report

    「In the corporate services business, the impact of fewer orders and delays in project progress due to the spread of COVID-19 was substantial during the cumulative second-quarter period. However, commissioned projects gradually increased from the third quarter onward, resulting in a recovery trend. Revenue was ¥681 million, down 24.4% from the previous fiscal year, and segment profit (operating profit) was ¥7 million, down 88.3%, representing a return to profitability for the full year.」

    Although fewer orders and delays in project progress continued to affect full-year results, commissioned projects increased from the third quarter onward, and the corporate services business returned to profitability for the full year.
  11. FY2021-Q3The business returned to profitability on a standalone basis in the third quarter, but the impact of fewer commissioned projects continuedAnnual report

    「In the Corporate Services business, performance gradually recovered and the business was profitable during the third-quarter consolidated accounting period. However, it could not fully offset the decline in contracted projects during the first and second quarters caused by the spread of COVID-19. Net sales were ¥459 million, down 31.3% year on year, and the segment loss (operating loss) was ¥13 million, compared with segment profit of ¥58 million in the same period of the previous year.」

    The business was profitable on a standalone basis in the third quarter, indicating signs of recovery. However, the cumulative impact of fewer commissioned projects due to the spread of the pandemic could not be offset, leaving lower revenue and a segment loss of ¥13 million.
  12. FY2021-Q2WorsenedAnnual report

    「Although the corporate services business was gradually recovering, the effects of temporary freezes and delays in commissioned projects caused by the spread of COVID-19 continued. Revenue was ¥269 million, down 36.9% year on year, and segment loss (operating loss) was ¥26 million, compared with segment profit of ¥28 million in the previous year.」

    Temporary freezes and delays in commissioned projects continued, and the business swung from segment profit of ¥28 million in the previous year to a loss of ¥26 million. Although performance was showing signs of recovery, stagnation in customer projects had worsened results.
  13. FY2021-Q1WorsenedAnnual report

    「In the corporate services business, temporary freezes and delays in the progress of commissioned projects, mainly due to the spread of COVID-19, resulted in revenue of ¥106 million, down 39.6% year on year, and segment loss (operating loss) of ¥24 million, compared with segment profit of ¥6 million in the previous year.」

    Temporary freezes and delays in commissioned projects occurred, and the corporate services business swung from profit in the previous year to a loss. Existing weakness in customer demand and project progress worsened amid the impact of the pandemic.
  14. FY2019-Q1WorsenedAnnual report

    「In the corporate services business, lower orders from existing clients could not be fully offset by increased orders from new clients, and the company made upfront investments, including marketing expenses to acquire new clients. As a result, revenue was ¥165 million, down 2.5% year on year, and segment loss (operating loss) was ¥7 million, compared with segment profit of ¥7 million in the previous year.」

    Orders from existing clients declined and could not be offset by increased orders from new clients. Weak demand from existing clients, previously a factor behind lower revenue, has now emerged in the form of a segment loss.
  15. FY2018-Q3RestatedAnnual report

    「In the Corporate Services business, although inquiries from existing clients remained weak throughout the fiscal year, the effects of reducing outsourcing costs and other measures resulted in revenue of ¥534 million, down 9.8% year on year, and segment profit (operating profit) of ¥36 million, up 24.0% year on year, representing lower revenue but higher profit.」

    Inquiries from existing clients remained weak throughout the period, but profit increased due to measures including reductions in outsourcing costs.
  16. FY2018-Q2Profit increased through cost reductions despite continued weakness in demand from existing clientsAnnual report

    「In the Corporate Services business, although inquiries from existing clients remained weak, the effects of reducing outsourcing costs and other measures resulted in revenue of ¥332 million, down 9.9% year on year, and segment profit (operating profit) of ¥14 million, up 29.2% year on year, representing lower revenue but higher profit.」

    Inquiries from existing clients remained weak, but profit exceeded the year-earlier level due to measures including reductions in outsourcing costs.
  17. FY2018-Q1MitigatedAnnual report

    「In the corporate services business, order inquiries from new clients increased, while orders from existing foreign-affiliated clients also increased against a backdrop of an economic recovery overseas. Revenue was ¥169 million, up 5.6% year on year, and segment profit (operating profit) was ¥7 million, compared with a segment loss of ¥8 million in the previous year, marking a return to profitability.」

    Orders increased from existing foreign-affiliated clients as well as new clients, and the previously weak demand from foreign-affiliated clients was described as having eased during the quarter.
  18. FY2017Profit declined despite increased new ordersAnnual report

    「In the corporate services business, increased orders from new clients enabled the company to secure revenue broadly in line with the previous consolidated fiscal year. However, mainly due to upfront investments, including the strengthening of the production staff, revenue was ¥737 million, down 1.5% from the previous fiscal year, and segment profit (operating profit) was ¥27 million, down 25.3%.」

    Increased orders from new clients kept revenue broadly in line with the previous fiscal year, while upfront investments, including the strengthening of the production staff, reduced profit.
  19. FY2017-Q3New orders continued to increase, but profitability declinedAnnual report

    「In the corporate services business, upfront investments, including the strengthening of the production staff, began to bear fruit. As a result, orders from new clients continued to increase from the second quarter of the consolidated fiscal year, resulting in revenue of ¥592 million, down 0.9% year on year, and segment profit (operating profit) of ¥29 million, down 34.9%. The business maintained a recovery trend.」

    Orders from new clients continued to increase, but revenue declined slightly and segment profit fell 34.9%, indicating that improving demand had not translated fully into improved profitability.
  20. FY2017-Q2Inquiries from new clients continued to increaseAnnual report

    「As upfront investments, including the strengthening of the production staff, began to bear fruit, order inquiries from new clients gradually increased」

    The company states that order inquiries from new clients gradually increased, but does not state that lower orders from existing major clients or weak demand from foreign-affiliated clients had been resolved.
  21. FY2017-Q1Lower orders from existing major clients alongside increased new inquiriesAnnual report

    「Although sales efforts increased order inquiries from new clients, this was not enough to cover lower orders from some existing major clients」

    Inquiries from new clients increased, but this was not enough to offset lower orders from some existing major clients, and weak customer demand continued to weigh on performance.
  22. FY2016MaterialisedAnnual report

    「Demand from foreign-affiliated clients remained weak through the latter half of the period」

    The company states that weaker customer demand actually emerged during the period in the corporate services business.
Moved together

"All operating companies turn profitable" moved the same way as this thread, in the same document, in 10 of its 24 moves.

1087776★123456
  1. ★This thread
  2. 1All operating companies turn profitable10×
  3. 2Rehabilitation of a Loss-Making Operating Company8×
  4. 3Earnings growth and business structure improvements7×
  5. 4Recovery in operating profit, ordinary profit and net income7×
  6. 5Risks Related to Investee Performance, Investment Recovery and Market Fluctuations7×
  7. 6Expanding revenue from digital media, events and e-books6×

★ 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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SE Holdings and Incubations's next results are scheduled for 2026-10-22. Read the earnings preview It last moved in the Earnings of 2026-07-23: "Worsened".
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Weak inquiry activity from foreign-affiliated clients | SE Holdings and Incubations Co.,Ltd. (9478) | Komori