StrongKey's Sales Difficulties and Investment Impairment
First written in FY2021. 3 of 6 entries say "Mitigated", first in FY2023. Latest entry: FY2025-H1.
0 other companies' latest entry also says "Advanced".
- FY2025-H1AdvancedAnnual report
「US-based ONE Tech, an investee company of the US subsidiary, focused on selling its proprietary edge AI solution, MicroAI™, to manufacturers and telecommunications companies. At another investee company, US-based StrongKey, its FIDO authentication security service was newly adopted by a US payments company, while adoption of its Matter-compatible PKI service expanded among European smart-device companies.」
StrongKey's FIDO authentication service was newly adopted by a US payments company, while adoption of its Matter-compatible PKI service expanded among European smart-device companies. - FY2024-Q3RestatedAnnual report
「Another investee company, US-based StrongKey, is focusing on selling security services using FIDO authentication and a PKI (Public Key Infrastructure) service compatible with Matter, the new communications standard for smart homes.」
StrongKey continues to focus on sales of its FIDO authentication services and Matter-compatible PKI service. - FY2024-Q2MitigatedAnnual report
「The other investee, U.S.-based StrongKey, progressed from new adoption of its FIDO authentication security service by a major U.S. telecommunications carrier through delivery. Inquiries from companies involved in smart-home IoT devices and related areas have also continued for its PKI service compatible with Matter, the new smart-home communications standard.」
Regarding StrongKey, which previously experienced sales difficulties and an impairment loss on the investment, the business has advanced to new adoption and delivery by a major telecommunications operator, while inquiries about its Matter-compatible PKI service continue. - FY2024-Q1MitigatedAnnual report
「The other investee, U.S.-based StrongKey, has newly secured adoption of its security services based on data encryption and FIDO authentication by a major U.S. company. It also released a PKI service for secure internet communications that supports Matter, the new smart-home communications standard, resulting in an increase in inquiries from companies involved in smart-home IoT devices and related areas.」
Regarding StrongKey, which previously experienced sales difficulties and an impairment loss on the investment, the company describes new adoption by major US companies, the release of a Matter-compatible PKI service, and an increase in inquiries from related companies. - FY2023MitigatedAnnual report
「Another investee company, US-based StrongKey, is rolling out data encryption and FIDO authentication security services to major companies worldwide. After releasing a PKI (Public Key Infrastructure) service for secure internet communications that supports Matter, the new communications standard for smart homes, inquiries from companies involved in smart-home IoT devices and related areas have increased rapidly.」
For StrongKey, inquiries from companies involved in smart-home IoT increased sharply following the release of its Matter-compatible PKI service, describing business opportunities after the earlier sales difficulties and impairment loss. - FY2021MaterialisedAnnual report
「In addition, sales activities at StrongKey, Inc., an equity-method affiliate, have become difficult due to the spread of COVID-19 in the United States. Combined with weaker consumption resulting from the economic downturn, this led to a review of its future business plans. Following a reassessment of the investment's value, an impairment loss of ¥547 million was recognized.」
Difficulties in selling StrongKey and a review of its future business plans led to a reassessment of the investment's value and recognition of an impairment loss of ¥547 million.