Cash Flow Management and Funding Risks Associated with R&D Investment
First written in FY2023. 1 of 5 entries say "Dropped", first in FY2025. Latest entry: 2026-10-13.
The whole theme swung hardest in 2026: 8 of 18 companies on the "Worse" side.
0 other companies' latest entry also says "Advanced".
- FY2025DroppedAnnual report
「As a general principle, we meet this funding requirement using internal funds. At the end of the fiscal year, we had no borrowings from financial institutions or other lenders.」
The financing risk associated with research and development investment, previously disclosed separately, was not expressly listed as a risk for the current fiscal year. The company states that funding needs are generally met with internal funds and that it has no borrowings. - FY2023First statedAnnual report
「Depending on whether in-house drug-discovery research is required and on the status of future agreements, we plan to raise funds and otherwise strengthen our financial base at appropriate times as necessary. However, if we cannot raise funds at an appropriate time or if returns are small relative to investment, our business, financial condition and operating results may be affected.」
The company explains that upfront investment in strengthening the platform and future in-house drug discovery may be required, creating risks relating to the timing of financing and recovery of investment.