Risk of Post-M&A Underperformance and Impairment of Investment Value
First written in FY2018. 15 of 16 entries say "Restated". Latest entry: FY2027-H1.
The whole theme swung hardest in 2024: 38 of 92 companies on the "Worse" side.
59 other companies' latest entry also says "Restated".
- FY2027-H1RestatedAnnual report
「No new business or other risks arose during the six months ended 30 June. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
M&A後の計画未達・投資価値減損リスクについて、新たな発生や重要な変更はないと記載している。 - FY2026-H1RestatedAnnual report
「No new business or other risks arose during the six months ended 30 June. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
M&A後の計画未達・投資価値減損リスクについて、重要な変更はないと記載している。 - FY2024-Q4RestatedAnnual report
「There were no newly arising business or other risks during the first quarter of the current consolidated cumulative period. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
M&A後の計画未達・投資価値減損リスクについて、重要な変更はないと記載している。 - FY2024-Q2RestatedAnnual report
「No new business or other risks arose during the first nine months of the current fiscal year. There were also no significant changes to the business and other risks described in the securities report for the previous fiscal year.」
M&A後の計画未達・投資価値減損リスクについて、重要な変更はないと記載している。 - FY2023-Q2RestatedAnnual report
「No new business or other risks arose during the first nine months of the current fiscal year. There were also no significant changes to the business and other risks described in the securities report for the previous fiscal year.」
M&A後の計画未達・投資価値減損リスクについて、新たな発生や重要な変更はないと記載している。 - FY2022-Q4RestatedAnnual report
「No new business or other risks arose during the cumulative first-quarter period. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
M&A後の計画未達・投資価値減損リスクについて、新たな発生や重要な変更はないと記載している。 - FY2022-Q1RestatedAnnual report
「No new business or other risks arose during the cumulative first-quarter period. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
M&A後の計画未達・投資価値減損リスクについて、新たな発生や重要な変更はないと記載している。 - FY2021-Q3RestatedAnnual report
「No new business or other risks arose during the first nine months of the current fiscal year. There were also no significant changes to the business and other risks described in the securities report for the previous fiscal year.」
M&A後の計画未達・投資価値減損リスクについて、新たな発生や重要な変更はないと記載している。 - FY2021-Q2RestatedAnnual report
「当第2四半期連結累計期間において、新たに発生した事業等のリスクはありません。また、前事業年度の有価証券報告書に記載した事業等のリスクについて重要な変更はありません。」
M&A後の計画未達・投資価値減損リスクについて、新たな発生や重要な変更はないと記載している。 - FY2021-Q1RestatedAnnual report
「No new business or other risks arose during the cumulative first-quarter period. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
M&A後の計画未達・投資価値減損リスクについて、新たな発生や重要な変更はないと記載している。 - FY2020-Q3RestatedAnnual report
「No new business or other risks arose during the first nine months of the current fiscal year. There were also no significant changes to the business and other risks described in the securities report for the previous fiscal year.」
M&A後の計画未達・投資価値減損リスクについて、新たな発生や重要な変更はないと記載している。 - FY2020-Q1RestatedAnnual report
「No new business or other risks arose during the cumulative first-quarter period. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
M&A後の計画未達・投資価値減損リスクについて、新たな発生や重要な変更はないと記載している。 - FY2019-Q3RestatedAnnual report
「No new business or other risks arose during the nine-month period ended December 31, and there were no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
M&A後の計画未達・投資価値減損リスクについて、新たな発生や重要な変更はないと記載している。 - FY2019-Q2RestatedAnnual report
「During the second quarter of the current consolidated cumulative period, there were no newly arising business or other risks. In addition, there were no material changes to the business or other risks described in the securities report for the previous fiscal year.」
M&A後の計画未達・投資価値減損リスクについて、新たな発生や重要な変更はないと記載している。 - FY2019-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, there were no newly arising business or other risks. In addition, there were no material changes to the business or other risks described in the securities report for the previous fiscal year.」
M&A後の計画未達・投資価値減損リスクについて、新たな発生や重要な変更はないと記載している。 - FY2018First statedAnnual report
「In connection with M&A, we conduct detailed due diligence on the target company's business, financial condition, legal matters, and other areas to reduce various risks. However, events that were not identified or anticipated during due diligence may occur or come to light after the M&A, and the business may not develop as planned after the transaction.」
The company identifies as a standalone risk the possibility that unforeseen events may arise or be discovered after M&A, that the business may not develop as planned, and that the investment may therefore require impairment.