Dependence on Affiliate Marketing Services
First written in FY2017. 1 of 2 entries say "Dropped", first in FY2018. Latest entry: FY2018.
1 other company's latest entry also says "Dropped".
- FY2018DroppedAnnual report
「The group operates its business based on a business model in which improving the performance of its customers, commerce operators, including conversions (purchases and applications), leads to higher group earnings, with the aim of realizing its vision of “becoming Japan’s leading performance marketing company.”」
The former disclosure explicitly referring to dependence on affiliate marketing has been removed and replaced with a broader risk disclosure concerning dependence on a business model that links customer performance to revenue. - FY2017First statedAnnual report
「At present, our advertising business is highly dependent on affiliate marketing services. If changes in the e-commerce business environment, tighter legal regulations, system failures or other rapid changes in the internet environment cause problems with the growth of affiliate marketing services, this could have a material impact on our group’s results.」
States that the group remains highly dependent on affiliate marketing services and identifies market, regulatory and system risks to their growth.