XML 69 R23.htm IDEA: XBRL DOCUMENT
v3.20.2

Concentrations of Credit Risk and Major Customers | 12 Months Ended
--- | ---
Mar. 31, 2020
Risks and Uncertainties [Abstract] |
CONCENTRATIONS OF CREDIT RISK AND MAJOR CUSTOMERS |
15. | CONCENTRATIONS OF CREDIT RISK AND MAJOR CUSTOMERS
The Group's financial instruments that are exposed to concentrations of credit risk consist primarily of its cash and cash equivalents and trade receivables. The Group's cash and cash equivalents are high-quality deposits placed with banking institutions with high credit ratings. This investment policy limits the Group's exposure to concentrations of credit risk. The trade receivable balances largely represent amounts due from the Group's principal customers who are generally international organizations with high credit ratings. Letters of credit are the principal security obtained to support lines of credit or negotiated contracts from a customer. As a consequence, related credit risk is limited. Accounts receivable from the three customers with the largest receivable balances as of March 31, 2019 and 2020 are as follows:
|  | Percentage of |
|  | accounts receivable |
|  | 2019 |  |  | 2020 |
|  | % |  |  | % |
Customer A |  |  | 61.1 |  |  |  | 47.4 |
Customer B |  |  | 10.2 |  |  |  | ** |
Customer C |  |  | 6.9 |  |  |  | 18.4 |
Customer D |  |  | ** |  |  |  | 6.7 |
Three largest receivable balances |  |  | 78.2 |  |  |  | 72.5 |
| ** | not among the top three receivable balances as of respective year end.
A substantial percentage of the Group's sales are made to three customers and are typically on an open account basis. Customers accounting for 10% or more of total revenue from contracts with customers in any of the years ended March 31, 2018, 2019 and 2020 are as follows:
|  | Year ended March 31, |
|  | 2018 |  |  | 2019 |  |  | 2020 |
|  | % |  |  | % |  |  | % |
Customer A (note a) |  |  | 51.4 |  |  |  | 47.7 |  |  |  | 48.2 |
Customer B (note a) |  |  | 15.8 |  |  |  | 18.0 |  |  |  | 20.8 |
Customer C (note b) |  |  | 10.8 |  |  |  | 11.2 |  |  |  | N/A |
|  |  | 78.0 |  |  |  | 76.9 |  |  |  | 69.0 |
Notes:
| (a) | Sales to this customer were reported in both of the Metal Stamping and Mechanical OEM and Electric OEM operating segments.
| (b) | Sales to this customer were reported in the Electric OEM operating segment.

X
- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI http://asc.fasb.org/topic&trid=2134479 + Details
Name: | us-gaap_ConcentrationRiskDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RisksAndUncertaintiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration