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Concentrations of Credit Risk and Major Customers and Suppliers | 12 Months Ended
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Mar. 31, 2025
Concentrations of Credit Risk and Major Customers and Suppliers [Abstract] |
CONCENTRATIONS OF CREDIT RISK AND MAJOR CUSTOMERS AND SUPPLIERS |
| 17. | CONCENTRATIONS OF CREDIT RISK AND MAJOR CUSTOMERS AND SUPPLIERS
The Group’s financial instruments that are exposed to concentrations of credit risk consist primarily of its cash and cash equivalents and accounts receivables. The Group’s cash and cash equivalents are high-quality deposits placed with authorized banking institutions. This investment policy limits the Group’s exposure to concentrations of credit risk. Accounts receivable from the four customers with the largest receivable balances or customers that individually comprised 10% or more of receivable balance as of March 31, 2024 and 2025 are as follows:
|  | Percentage of |
|  | accounts receivable |
|  | 2024 |  |  | 2025 |
|  | % |  |  | % |
Customer D |  |  | 10.7 |  |  |  | 32.9 |
Customer C (note f) |  |  | 21.8 |  |  |  | 25.4 |
Customer B (note e) |  |  | 22.1 |  |  |  | 21.5 |
Customer A. |  |  | 28.4 |  |  |  | *** |
Four largest receivable balances |  |  | 83.0 |  |  |  | 79.8 |
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, 2023, 2024 and 2025 are as follows:
|  | Year ended March 31, |
|  | 2023 |  |  | 2024 |  |  | 2025 |
|  | % |  |  | % |  |  | % |
Customer C (note b, note f) |  |  | 33.0 |  |  |  | 34.4 |  |  |  | 41.2 |
Customer B (note a, note e) |  |  | 35.3 |  |  |  | 24.0 |  |  |  | 31.9 |
Customer D (note a) |  |  | 16.5 |  |  |  | 11.2 |  |  |  | 15.4 |
Customer E (note a) |  |  | 11.9 |  |  |  | 10.7 |  |  |  | *** |
Customer A (note c, note d) |  |  | *** |  |  |  | 12.9 |  |  |  | *** |
|  |  | 96.7 |  |  |  | 93.2 |  |  |  | 88.5 |
Notes:
(a) | Sales to these customers were reported in both of the Metal Stamping and Mechanical OEM and Electric OEM operating segments.
(b) | Sales to this customer was reported in the Metal Stamping operating segment.
(c) | Sub-contracting income received was reported in Electric OEM operating segment.
(d) | Customer A is the same entity as Supplier E below.
(e) | Customer B is the same entity as Supplier D below.
(f) | Customer C is the same entity as Supplier A below.
*** | Represented not reaching 10% threshold in the respective years.
Accounts payable to suppliers that individually comprised 10% or more of accounts payable balance as of March 31, 2024 and 2025 are as follows:
|  | Percentage of |
|  | accounts payable |
|  | 2024 |  |  | 2025 |
|  | % |  |  | % |
Supplier A (note i) |  |  | 10.9 |  |  |  | 19.7 |
Supplier E (note h) |  |  | 11.5 |  |  |  | 15.5 |
Supplier F |  |  | 11.0 |  |  |  | *** |
Supplier D (note g) |  |  | 24.2 |  |  |  | *** |
Supplier B |  |  | *** |  |  |  | *** |
|  |  | 57.6 |  |  |  | 35.2 |
Suppliers accounting for 10% or more of net purchases for the years ended March 31, 2023, 2024 and 2025 are as follows:
|  | Year ended March 31, |
|  | 2023 |  |  | 2024 |  |  | 2025 |
|  | % |  |  | % |  |  | % |
Supplier A (note i) |  |  | *** |  |  |  | 10.7 |  |  |  | 19.3 |
Supplier C |  |  | 11.3 |  |  |  | *** |  |  |  | 16.2 |
Supplier B |  |  | 10.3 |  |  |  | *** |  |  |  | *** |
|  |  | 21.6 |  |  |  | 10.7 |  |  |  | 35.5 |
Notes:
(a) | Supplier D is the same entity as Customer B above.
(b) | Supplier E is the same entity as Customer A above.
(c) | Supplier A is the same entity as Customer C above.
*** | Represented not reaching 10% threshold in the respective years

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- 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://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (d)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (d)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-21 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (c)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-21 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-21 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-21 Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 275 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 3A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482836/275-10-55-3A Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 275 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482861/275-10-50-2A Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 275 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482861/275-10-50-1 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 275 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/275/tableOfContent + Details
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