Liquidity and Additional Financing Risks from Continued Upfront Investment
First written in FY2024. 2 of 4 entries say "Worsened", first in FY2025. Latest entry: 2026-05-18.
The whole theme swung hardest in 2024: 3 of 7 companies on the "Worse" side.
1 other company's latest entry also says "Mitigated".
- FY2025WorsenedAnnual report
「During this period, we continuously recorded operating losses, and cash flow from operating activities tended to be negative.」
Cash flow from operating activities changed from ¥150.144 million generated to ¥1,468.363 million used, indicating a quantified increase in the cash flow risk associated with continued upfront investment. - FY2024First statedAnnual report
「Accordingly, until stable revenue sources exceed upfront investment, we intend to strengthen our financial base by raising funds at appropriate times in line with progress in research and development. However, if we are unable to secure the necessary funds at the required timing or on appropriate terms, this may raise serious concerns about the continuation of our business or affect the rights held by shareholders.」
The company disclosed research and development expenses of ¥571.628 million, a net loss of ¥1,049.514 million and cash and cash equivalents of ¥4,392.022 million, among other figures.