Seasonality in the Education Business
First written in FY2016. 21 of 25 entries say "Restated". Latest entry: FY2024.
The whole theme swung hardest in 2023: 1 of 7 companies on the "Worse" side.
7 other companies' latest entry also says "Restated".
- FY2024RestatedAnnual report
「In the Group’s Education Business, student numbers tend to be lowest in the first quarter, shortly after the new academic year begins, and highest in the third quarter, when the examination season arrives. Revenue increases during the periods when spring, summer and winter seasonal classes are held. Meanwhile, school operating costs, including personnel expenses and rent, continue to be incurred throughout the year. Advertising and promotional expenses for recruiting students for the new academic year are incurred mainly in the fourth quarter. Accordingly, profitability tends to be lower in the first and fourth quarters than in the second and third quarters.」
The disclosure continues to describe seasonality arising from student numbers, seasonal classes, fixed costs and fourth-quarter advertising expenses for student recruitment. - FY2024-Q2RestatedAnnual report
「In the Group’s Education Business, the Group provides spring, summer and winter seasonal classes in addition to regular classes. As a result, revenue increases during the periods when these classes are held, causing seasonal fluctuations in quarterly results.」
The disclosure continues to describe the seasonality of the Education Business, with revenue increasing during the periods when seasonal classes are held. - FY2024-Q1MitigatedAnnual report
「In the Group’s core Education Business, student numbers tend to be lowest in the first quarter, when the new academic year begins, and highest in the third and fourth quarters, when the examination season arrives. Revenue increases during the periods when spring, summer and winter seasonal classes are held, while school operating costs, including personnel expenses and rent, are incurred on a fixed basis. Although the Group normally records an operating loss in the first quarter, it recorded an operating profit for the cumulative first quarter of the current consolidated fiscal year, following the same quarter of the previous year, due to increased revenue in the Education Business, among other factors. From the second quarter onward, its earnings structure continues to enable it to secure profits through income from summer and winter classes and other sources.」
The disclosure states that, although the first quarter normally results in an operating loss, the Group recorded an operating profit for the second consecutive year due to increased revenue in the Education Business, among other factors. The underlying seasonal structure remains unchanged. - FY2023Explicit disclosure of seasonality arising from fourth-quarter advertising expensesAnnual report
「Advertising and promotional expenses for recruiting students for the new academic year are incurred mainly in the fourth quarter. Accordingly, profitability tends to be lower in the first and fourth quarters than in the second and third quarters.」
In addition to the previously identified seasonality arising from student numbers, seasonal classes and fixed costs, the disclosure specifies that advertising and promotional expenses for recruiting students for the new academic year are concentrated in the fourth quarter. - FY2023-Q3RestatedAnnual report
「In the Group’s Education Business, the Group provides spring, summer and winter seasonal classes in addition to regular classes. As a result, revenue increases during the periods when these classes are held, causing seasonal fluctuations in quarterly results.」
The disclosure continues to describe the seasonality of the Education Business, with revenue increasing during the periods when spring, summer and winter classes are held. - FY2023-Q2RestatedAnnual report
「In the Group’s Education Business, the Group provides spring, summer and winter seasonal classes in addition to regular classes. As a result, revenue increases during the periods when these classes are held, causing seasonal fluctuations in quarterly results.」
The disclosure continues to describe the seasonality of the Education Business, with revenue increasing during the spring, summer and winter class periods. - FY2023-Q1MitigatedAnnual report
「In the Group’s core Education Business, student numbers tend to be lowest in the first quarter, when the new academic year begins, and highest in the third and fourth quarters, when the examination season arrives. Revenue increases during the periods when spring, summer and winter seasonal classes are held, while school operating costs, including personnel expenses and rent, are incurred on a fixed basis. Although the Group normally records an operating loss in the first quarter, it recorded an operating profit for the cumulative first quarter of the current consolidated fiscal year due to increased revenue in the Education and Real Estate Businesses, among other factors. From the second quarter onward, its earnings structure continues to enable it to secure profits through income from summer and winter classes and other sources.」
Although the seasonal structure normally results in an operating loss in the first quarter, the Group recorded an operating profit this quarter due to increased revenue in the Education and Real Estate Businesses, among other factors. - FY2022-Q3RestatedAnnual report
「In the Group’s Education Business, the Group provides spring, summer and winter seasonal classes in addition to regular classes. As a result, revenue increases during the periods when these classes are held, causing seasonal fluctuations in quarterly results.」
The disclosure continues to describe the seasonality of the Education Business, with revenue increasing during the periods when spring, summer and winter classes are held. - FY2022-Q2RestatedAnnual report
「In the Group’s Education Business, the Group provides spring, summer and winter seasonal classes in addition to regular classes. As a result, revenue increases during the periods when these classes are held, causing seasonal fluctuations in quarterly results.」
The disclosure continues to describe the seasonality of the Education Business, with revenue increasing during the periods when spring, summer and winter classes are held. - FY2022-Q1RestatedAnnual report
「In the Group’s core Education Business, student numbers tend to be lowest in the first quarter, when the new academic year begins, and highest in the third quarter, when the examination season arrives. Revenue increases during the periods when spring, summer and winter seasonal classes are held, while school operating costs, including personnel expenses and rent, are incurred on a fixed basis. Consequently, the Group records an operating loss in the first quarter. From the second quarter onward, its earnings structure enables it to secure profits through income from summer and winter classes and other sources.」
The disclosure continues to explain the seasonal earnings structure in which an operating loss is incurred in the first quarter and profits are secured from the second quarter onward through income from seasonal classes. - FY2021-Q3RestatedAnnual report
「In the Group’s Education Business, the Group provides spring, summer and winter seasonal classes in addition to regular classes. As a result, revenue increases during the periods when these classes are held, causing seasonal fluctuations in quarterly results.」
The disclosure continues to describe the seasonality of the Education Business, with revenue increasing during the periods when classes are held. - FY2020RestatedAnnual report
「In the Group’s Education Business, student numbers tend to be lowest in the first quarter, shortly after the new academic year begins, and highest in the third quarter, when the examination season arrives. Revenue also increases during the periods when spring, summer and winter seasonal classes are held. Meanwhile, school operating costs, including personnel expenses and rent, continue to be incurred throughout the year.」
The disclosure continues to explain quarterly seasonality arising from student numbers, seasonal classes and fixed costs. - FY2020-Q2RestatedAnnual report
「In the Group’s Education Business, the Group provides spring, summer and winter seasonal classes in addition to regular classes. As a result, revenue increases during the periods when these classes are held, causing seasonal fluctuations in quarterly results.」
The disclosure continues to describe the seasonal increase in revenue during the spring, summer and winter class periods. - FY2020-Q1RestatedAnnual report
「In the Group’s core Education Business, student numbers tend to be lowest in the first quarter, when the new academic year begins, and highest in the third quarter, when the examination season arrives. Revenue increases during the periods when spring, summer and winter seasonal classes are held, while school operating costs, including personnel expenses and rent, are incurred on a fixed basis. Consequently, the Group records an operating loss in the first quarter. However, from the second quarter onward, its earnings structure enables it to secure profits through income from summer and winter classes and other sources, and business performance is progressing steadily as planned.」
The disclosure continues to explain the earnings structure in which an operating loss is incurred in the first quarter and profits are secured from the second quarter onward through income from seasonal classes. - FY2019-Q3RestatedAnnual report
「In the Group’s Education Business, the Group provides spring, summer and winter seasonal classes in addition to regular classes. As a result, revenue increases during the periods when these classes are held, causing seasonal fluctuations in quarterly results.」
The disclosure continues to describe quarterly seasonality, with revenue increasing during the periods when seasonal classes are held. - FY2019-Q2RestatedAnnual report
「In the Group’s Education Business, the Group provides spring, summer and winter seasonal classes in addition to regular classes. As a result, revenue increases during the periods when these classes are held, causing seasonal fluctuations in quarterly results.」
The disclosure continues to describe quarterly seasonality, with revenue increasing during the periods when seasonal classes are held. - FY2019-Q1RestatedAnnual report
「In the Group’s core Education Business, student numbers tend to be lowest in the first quarter, when the new academic year begins, and highest in the third quarter, when the examination season arrives. Revenue increases during the periods when spring, summer and winter seasonal classes are held, while school operating costs, including personnel expenses and rent, are incurred on a fixed basis. Consequently, the Group records an operating loss in the first quarter. However, from the second quarter onward, its earnings structure enables it to secure profits through income from summer and winter classes and other sources, and business performance is progressing steadily as planned.」
The disclosure continues to explain the earnings structure of an operating loss in the first quarter and profits secured from the second quarter onward through income from seasonal classes. - FY2018RestatedAnnual report
「In the Group’s core Education Business, student numbers tend to be lowest in the first quarter, shortly after the new academic year begins, and highest in the third quarter, when the examination season arrives. Revenue also increases during the periods when spring, summer and winter seasonal classes are held. Meanwhile, school operating costs, including personnel expenses and rent, continue to be incurred throughout the year.」
The disclosure continues to explain quarterly seasonality arising from student numbers, seasonal classes and fixed costs. - FY2018-Q3RestatedAnnual report
「In the Group’s Education Business, the Group provides spring, summer and winter seasonal classes in addition to regular classes. As a result, revenue increases during the periods when these classes are held, causing seasonal fluctuations in quarterly results.」
The disclosure continues to describe the seasonal increase in revenue during the periods when spring, summer and winter classes are held. - FY2018-Q2RestatedAnnual report
「In the Group’s Education Business, the Group provides spring, summer and winter seasonal classes in addition to regular classes. As a result, revenue increases during the periods when these classes are held, causing seasonal fluctuations in quarterly results.」
The disclosure continues to describe the seasonal increase in revenue during the periods when spring, summer and winter classes are held. - FY2018-Q1RestatedAnnual report
「In the Group’s core Education Business, student numbers tend to be lowest in the first quarter, when the new academic year begins, and highest in the third quarter, when the examination season arrives. Revenue increases during the periods when spring, summer and winter seasonal classes are held, while school operating costs, including personnel expenses and rent, are incurred on a fixed basis. Consequently, the Group records an operating loss in the first quarter. However, from the second quarter onward, its earnings structure enables it to secure profits through income from summer and winter classes and other sources, and business performance is progressing steadily as planned.」
The disclosure continues to explain the seasonal earnings structure, with an operating loss in the first quarter and profits secured from the second quarter onward through income from seasonal classes. - FY2017-Q3RestatedAnnual report
「In the Group’s Education Business, the Group provides spring, summer and winter seasonal classes in addition to regular classes. As a result, revenue increases during the periods when these classes are held, causing seasonal fluctuations in quarterly results.」
The disclosure continues to describe the seasonal increase in revenue during the spring, summer and winter class periods. - FY2017-Q2RestatedAnnual report
「In the Group’s Education Business, the Group provides spring, summer and winter seasonal classes in addition to regular classes. As a result, revenue increases during the periods when these classes are held, causing seasonal fluctuations in quarterly results.」
The disclosure continues to describe the seasonality of the Education Business arising from the timing of seasonal classes. - FY2017-Q1RestatedAnnual report
「Revenue for the cumulative first quarter of the current consolidated fiscal year was ¥1,779 million, up 0.7% year on year, while the operating loss was ¥167 million, compared with an operating loss of ¥180 million in the same quarter of the previous year. In the Group’s core Education Business, student numbers tend to be lowest in the first quarter, when the new academic year begins, and highest in the third quarter, when the examination season arrives.」
The disclosure continues to explain the operating loss in the first quarter and the seasonality in which student numbers increase in the third quarter. - FY2016First statedAnnual report
「In the Group’s core Education Business, student numbers tend to be lowest in the first quarter, shortly after the new academic year begins, and highest in the third quarter, when the examination season arrives.」
The disclosure describes the tendency for profitability to be lower in the first and fourth quarters due to quarterly student numbers, seasonal classes and fixed school operating costs.