M&A execution and post-acquisition integration risks
First written in FY2016. 8 of 13 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2025: 9 of 29 companies on the "Worse" side.
34 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「Following acquisitions, the Company also conducts regular monitoring through the Board of Directors, the Management Committee and other bodies, and aims to improve performance by strengthening its oversight functions.」
The Company continues regular monitoring by the Board of Directors and the Management Committee in relation to post-M&A business plan and integration risks. - FY2023MitigatedAnnual report
「Following acquisitions, the PMI organization established within the Corporate Infrastructure Division, which supports the management infrastructure of all Group companies, will strengthen governance and build a framework for realizing Group synergies at an early stage.」
The Company specified a framework for strengthening governance and realizing synergies through the PMI organization within the Corporate Infrastructure Division as part of post-acquisition integration. - FY2023-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The Company states that there have been no material changes regarding M&A execution and post-acquisition integration risks. - FY2023-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The Company states that there have been no material changes regarding M&A execution and post-acquisition integration risks. - FY2022MitigatedAnnual report
「Following acquisitions, the Company also conducts regular monitoring through the Board of Directors, the Management Committee and other bodies, and aims to improve performance by strengthening its oversight functions.」
In addition to a dedicated M&A organization, due diligence, transaction review meetings and resolutions by the Board of Directors, the Company explicitly describes regular post-acquisition monitoring. - FY2022-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The Company states that there have been no material changes regarding M&A execution and post-acquisition integration risks. - FY2022-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The Company states that there have been no material changes regarding M&A execution and post-acquisition integration risks. - FY2020-Q3MaterialisedAnnual report
「On 29 January 2020, the Company sold all of its shares in Lei Hau'oli, formerly a consolidated subsidiary. Accordingly, the company was excluded from the scope of consolidation, using the end of the cumulative third-quarter consolidated accounting period as the deemed disposal date.」
Regarding Lei Hau'oli, for which failure to meet its post-acquisition earnings plan and a full goodwill impairment had been disclosed, all shares held were sold and the company was excluded from the scope of consolidation. - FY2020-Q2RestatedAnnual report
「During the six-month period ended the second quarter of the current fiscal year, there were no new business or other risks, and no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The Company states that there have been no material changes regarding M&A execution and post-acquisition integration risks. - FY2019MaterialisedAnnual report
「The goodwill described above was fully impaired because, following a review of the future earnings plan of consolidated subsidiary Lei Hau'oli, its performance had remained substantially below the earnings plan initially anticipated. The recoverable amount was therefore carefully examined, and the entire unamortized balance was impaired.」
Regarding the existing risks of post-M&A failure to meet business plans and unsuccessful post-integration monetization, an event occurred in which ¥378 million of goodwill was fully impaired because Lei Hau'oli failed to meet its earnings plan. - FY2019-Q3RestatedAnnual report
「During the nine-month consolidated period, there were no new business or other risks, and no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
The Company states that there have been no material changes regarding M&A execution and post-acquisition integration risks. - FY2018RestatedAnnual report
「The Company has established a dedicated department for M&A and capital alliances, with personnel possessing extensive experience in each area conducting transaction investigations, alliance negotiations and sales activities. However, if an acquisition does not progress as anticipated or post-acquisition management is unsuccessful, it may affect the performance of the Group.」
The Company describes its dedicated M&A department and management procedures, including due diligence, while continuing to identify the risk that post-acquisition integration and management may not progress as anticipated. - FY2016First statedAnnual report
「However, if an acquisition does not progress as anticipated or post-acquisition management is unsuccessful, it may affect the performance of the Company.」
While using M&A as a means of growth, the Company discloses the risks of transactions not being completed, failing to meet expectations, and ineffective post-acquisition management.