Material Doubt Regarding the Going Concern Assumption
First written in FY2017-Q1. 13 of 36 entries say "Worsened", first in FY2017-Q3. Latest entry: 2026-09-14.
SHINTO Holdings moved to the "Worse" side of this theme in 2017, 4 years before the typical company in this theme (2021).
The whole theme swung hardest in 2020: 30 of 71 companies on the "Worse" side.
40 other companies' latest entry also says "Restated".
- 2026-09-14RestatedEarnings
「There are no applicable matters.」
継続企業の前提に関する注記において、該当事項なしとの記載を継続している。 - FY2027-H1RestatedAnnual report
「There are no applicable matters.」
Following the previous year and the previous interim period, the Group stated that no material doubt or significant events related to the going-concern assumption were applicable. - 2026-06-11RestatedEarnings
「(Notes on going concern) Not applicable.」
The company continues to state that there are no material uncertainties or significant events relating to the going-concern assumption. - FY2026RestatedAnnual report
「(Matters related to the going concern assumption) Not applicable.」
Following the previous year and the previous interim period, the Group stated that no material doubt or significant events related to the going-concern assumption were applicable. - FY2026-H1RestatedAnnual report
「(Matters related to the going concern assumption) Not applicable.」
Following the previous year, the Group stated that no material doubt or significant events related to the going-concern assumption were applicable. - FY2025AchievedAnnual report
「(Matters related to the going concern assumption) Not applicable.」
Regarding material doubt about the going-concern assumption that had been disclosed through the previous year, the Group stated that none was applicable in the consolidated fiscal year under review. It reported operating profit of ¥42.892 million, ordinary profit of ¥49.460 million, net profit attributable to owners of the parent of ¥16.543 million, and operating cash flow of ¥353.887 million. - FY2025-H1RestatedAnnual report
「The Group reported operating, ordinary, and net losses attributable to owners of the parent in the previous consolidated fiscal year, as well as negative operating cash flow. The same situation continued during the interim consolidated accounting period under review.」
The Group continued to state that material doubt about the going-concern assumption exists due to operating losses and other losses and negative operating cash flow in the previous consolidated fiscal year and the interim consolidated accounting period under review. At the same time, it determined that there are no significant concerns about liquidity or material uncertainty because it has ¥233 million in cash and deposits and ¥1,479 million in current assets. - FY2025-Q1RestatedAnnual report
「The Group reported significant operating, ordinary, and net losses attributable to owners of the parent in the previous consolidated fiscal year, as well as significant negative operating cash flow. The same situation continued during the cumulative first quarter under review. Accordingly, events or circumstances that raise material doubt about the going-concern assumption exist.」
The Group continued to state that material doubt about the going-concern assumption exists due to operating losses and other losses and negative operating cash flow in the previous fiscal year and the first quarter under review. - FY2024RestatedAnnual report
「Following the previous consolidated fiscal year, the Group also reported significant operating, ordinary, and net losses attributable to owners of the parent in the consolidated fiscal year under review, as well as negative operating cash flow.」
Material doubt arising from operating losses and other losses and negative operating cash flow continues. At the same time, the Group stated that no material uncertainty exists because it has ¥180 million in cash and deposits and other resources. - FY2024-Q3RestatedAnnual report
「The same situation continued during the cumulative third quarter under review. Accordingly, events or circumstances that raise material doubt about the going-concern assumption exist.」
The Group reported operating losses and other losses and negative operating cash flow in the previous fiscal year and the cumulative third quarter under review, and continued to state that material doubt about the going-concern assumption exists. - FY2024-Q2RestatedAnnual report
「The Group reported operating, ordinary, and net losses attributable to owners of the parent in the previous consolidated fiscal year, as well as negative operating cash flow. The same situation continued during the cumulative second quarter under review. Accordingly, events or circumstances that raise material doubt about the going-concern assumption exist.」
The Group continued to state that material doubt about the going-concern assumption exists due to operating losses and other losses and negative operating cash flow in the previous fiscal year and the cumulative second quarter under review. - FY2024-Q1RestatedAnnual report
「The Group reported significant operating, ordinary, and net losses attributable to owners of the parent in the previous consolidated fiscal year, as well as significant negative operating cash flow. The same situation continued during the cumulative first quarter under review. Accordingly, events or circumstances that raise material doubt about the going-concern assumption exist. However, the Group secured sufficient funds for the immediate future through a capital increase in the previous consolidated fiscal year, so there are no significant concerns about liquidity. Accordingly, the Group determined that no material uncertainty regarding the going-concern assumption exists.」
The Group continued to report operating losses and other losses and negative operating cash flow from the previous year, and stated that material doubt exists. At the same time, it continued to determine that there are no significant concerns about liquidity or material uncertainty because funds had been secured through a capital increase. - FY2023WorsenedAnnual report
「The Group reported significant operating, ordinary, and net losses attributable to owners of the parent for the consolidated fiscal year under review, as well as significant negative operating cash flow. Accordingly, events or circumstances that raise material doubt about the going-concern assumption exist. However, cash and deposits at the end of the fiscal year were ¥425 million, and the Group secured sufficient funds for the immediate future through a capital increase, so there are no significant concerns about liquidity. Accordingly, the Group determined that no material uncertainty regarding the going-concern assumption exists.」
Significant events, etc. related to the going-concern assumption, which had been stated as “not applicable” in the previous year, were disclosed again. At the same time, the Group stated that no material uncertainty exists because it has ¥425 million in cash and deposits and secured funds through a capital increase. - FY2022AchievedAnnual report
「(7) Significant events, etc. related to the going-concern assumption: Not applicable.」
Regarding the significant events, etc. related to the going-concern assumption that had been disclosed in prior years, the Group stated that none were applicable in the consolidated fiscal year under review. It also reported operating profit of ¥44.625 million, ordinary profit of ¥15.441 million, net profit attributable to owners of the parent of ¥64.312 million, and net assets of ¥909.700 million. - FY2022-Q3WorsenedAnnual report
「As the Group had continued to report operating losses since the previous consolidated fiscal year and earlier, it promoted sales expansion and reforms to its earnings structure to achieve improvement. As a result, revenue increased 400.64% year on year to ¥3,163.989 million during the cumulative third quarter under review, but the Group continued to report an operating loss of ¥117.280 million, an ordinary loss of ¥147.964 million, and a quarterly net loss attributable to owners of the parent of ¥88.259 million.」
Although revenue increased 400.64% year on year, the Group reported an operating loss of ¥117.280 million, an ordinary loss of ¥147.964 million, and a quarterly net loss attributable to owners of the parent of ¥88.259 million, with losses widening from the same period of the previous year. Material doubt about the going-concern assumption and the urgent need to improve profitability and the financial position continue. - FY2022-Q2WorsenedAnnual report
「Although the Group has continued to report operating losses since the previous consolidated fiscal year and earlier, as a result of promoting sales expansion and reforms to its earnings structure to achieve improvement, it reported an operating loss of ¥54.919 million, an ordinary loss of ¥88.620 million, and a quarterly net loss attributable to owners of the parent of ¥24.133 million during the cumulative second quarter under review.」
Amid continuing material doubt about the going-concern assumption, the Group reported an operating loss of ¥54.919 million, an ordinary loss of ¥88.620 million, and a quarterly net loss attributable to owners of the parent of ¥24.133 million. Losses widened from the same period of the previous year, when they were ¥8.816 million, ¥1.587 million, and ¥2.064 million, respectively. - FY2022-Q1MitigatedAnnual report
「The Group had continued to report operating losses since the previous consolidated fiscal year and earlier. As a result of promoting sales expansion and reforms to its earnings structure to achieve improvement, it reported operating profit of ¥18.161 million, an ordinary loss of ¥30.008 million, and a quarterly net loss attributable to owners of the parent of ¥31.361 million during the cumulative first quarter under review.」
The Group reported operating profit of ¥18.161 million, turning from an operating loss to operating profit. However, it reported an ordinary loss of ¥30.008 million and a quarterly net loss attributable to owners of the parent of ¥31.361 million, and material doubt about the going-concern assumption remains. - FY2021Narrower losses, deterioration in operating cash flowAnnual report
「The Group had continued to report operating losses since the previous consolidated fiscal year and earlier. Although performance showed signs of recovery during the cumulative second quarter as a result of promoting sales expansion and reforms to its earnings structure to achieve improvement, results for the consolidated fiscal year under review were severe. Consequently, it reported an operating loss of ¥136.284 million, an ordinary loss of ¥163.366 million, and a net loss attributable to owners of the parent of ¥164.319 million for the consolidated fiscal year under review. Operating cash flow was also negative by ¥342.730 million in the consolidated fiscal year under review.」
Although operating losses and other losses narrowed from the previous year, operating cash flow was negative by ¥342.730 million, deteriorating from negative ¥227.056 million in the previous year. Material doubt and uncertainty about the going-concern assumption continue. - FY2021-Q3WorsenedAnnual report
「Although performance showed signs of recovery during the cumulative second quarter, the results for the third quarter under review were severe. Consequently, during the cumulative third quarter under review, the Group reported an operating loss of ¥46.609 million, an ordinary loss of ¥53.319 million, and a quarterly net loss attributable to owners of the parent of ¥54.035 million.」
Following the recovery in the cumulative second quarter, results in the third quarter were severe, resulting in a consolidated cumulative operating loss of ¥46.609 million and other losses. Material doubt about the going-concern assumption also continues. - FY2021-Q2WorsenedAnnual report
「The Group had continued to report operating losses since the previous consolidated fiscal year and earlier. As a result of promoting sales expansion and reforms to its earnings structure to achieve improvement, the Company remained profitable in the second quarter, following the first quarter. However, its Chinese subsidiary remained loss-making in the second quarter, following the first quarter. Consequently, during the cumulative second quarter under review, the Group reported an operating loss of ¥8.816 million, an ordinary loss of ¥1.587 million, and a quarterly net loss attributable to owners of the parent of ¥2.064 million.」
Although the parent company was profitable in the first and second quarters, losses continued at the Chinese subsidiary, resulting in consolidated cumulative operating, ordinary, and net losses of ¥8.816 million, ¥1.587 million, and ¥2.064 million, respectively. Material doubt continues because the Chinese subsidiary is expected to require time to recover its performance. - FY2021-Q1MitigatedAnnual report
「The Group had continued to report operating losses since the previous consolidated fiscal year and earlier. As a result of promoting sales expansion and reforms to its earnings structure to achieve improvement, it reported operating profit of ¥3.189 million, ordinary profit of ¥0.702 million, and quarterly net profit attributable to owners of the parent of ¥0.462 million in the cumulative first quarter under review. However, events or circumstances that raise material doubt about the going-concern assumption still exist.」
Although sales expansion and reforms to the earnings structure resulted in operating profit, ordinary profit, and quarterly net profit attributable to owners of the parent, material doubt about the going-concern assumption remains. - FY2020MitigatedAnnual report
「The Group has continued to report operating losses since the previous consolidated fiscal year and earlier. In the consolidated fiscal year under review, it reported an operating loss of ¥294.820 million, an ordinary loss of ¥321.646 million, and a net loss attributable to owners of the parent of ¥327.599 million. Operating cash flow has also been negative since the previous consolidated fiscal year, and was negative by ¥227.056 million in the consolidated fiscal year under review.」
Although material doubt continues, the operating loss, ordinary loss, and net loss narrowed from the previous year, while negative operating cash flow also narrowed from ¥944.288 million to ¥227.056 million. - FY2020-Q3MitigatedAnnual report
「The Group has continued to report operating losses since the previous consolidated fiscal year and earlier. During the cumulative third quarter under review, it reported an operating loss of ¥184.931 million, an ordinary loss of ¥195.879 million, and a quarterly net loss attributable to owners of the parent of ¥195.185 million.」
Although material doubt about the going-concern assumption remains, the operating loss, ordinary loss, and net loss all narrowed from ¥251.156 million, ¥275.573 million, and ¥280.794 million, respectively, in the same period of the previous year. Meanwhile, net assets declined to ¥102.234 million. - FY2020-Q2MitigatedAnnual report
「The Group has continued to report operating losses since the previous consolidated fiscal year and earlier. During the cumulative second quarter under review, it reported an operating loss of ¥98.033 million, an ordinary loss of ¥92.124 million, and a quarterly net loss attributable to owners of the parent of ¥90.931 million.」
Although material doubt about the going-concern assumption remains, the operating loss, ordinary loss, and net loss all narrowed from ¥158.272 million, ¥178.952 million, and ¥183.305 million, respectively, in the same period of the previous year. - FY2020-Q1MitigatedAnnual report
「The Group has continued to report operating losses since the previous consolidated fiscal year and earlier. During the cumulative first quarter under review, it reported an operating loss of ¥54.786 million, an ordinary loss of ¥73.528 million, and a quarterly net loss attributable to owners of the parent of ¥74.027 million.」
Although material doubt about the going-concern assumption remains, the operating loss, ordinary loss, and net loss all narrowed from ¥89.265 million, ¥92.433 million, and ¥93.301 million, respectively, in the same period of the previous year. - FY2019WorsenedAnnual report
「The Group has continued to report operating losses since the previous consolidated fiscal year and earlier. In the consolidated fiscal year under review, it reported an operating loss of ¥324.761 million, an ordinary loss of ¥367.612 million, and a net loss attributable to owners of the parent of ¥385.272 million. Operating cash flow turned positive in the previous consolidated fiscal year, but was negative by ¥944.288 million in the consolidated fiscal year under review.」
The Group reported an operating loss of ¥324.761 million, an ordinary loss of ¥367.612 million, and a net loss of ¥385.272 million, while operating cash flow turned negative by ¥944.288 million. As a result, circumstances relating to the going-concern assumption have deteriorated. - FY2019-Q3WorsenedAnnual report
「The Group has continued to report operating losses since the previous consolidated fiscal year and earlier. During the cumulative third quarter under review, it reported an operating loss of ¥251.156 million, an ordinary loss of ¥275.573 million, and a quarterly net loss attributable to owners of the parent of ¥280.794 million.」
Amid continuing material doubt about the going-concern assumption, the Group reported an operating loss of ¥251.156 million, an ordinary loss of ¥275.573 million, and a net loss of ¥280.794 million. The loss amounts increased from the previous cumulative quarter. - FY2019-Q2WorsenedAnnual report
「The Group has continued to report operating losses since the previous consolidated fiscal year and earlier. During the cumulative second quarter under review, it reported an operating loss of ¥158.272 million, an ordinary loss of ¥178.952 million, and a quarterly net loss attributable to owners of the parent of ¥183.305 million.」
Amid continuing material doubt about the going-concern assumption, the Group reported an operating loss of ¥158.272 million, an ordinary loss of ¥178.952 million, and a net loss of ¥183.305 million. Each loss widened from the same period of the previous year. - FY2019-Q1WorsenedAnnual report
「The Group has continued to report operating losses since the previous consolidated fiscal year and earlier. During the cumulative first quarter under review, it reported an operating loss of ¥89.265 million, an ordinary loss of ¥92.433 million, and a quarterly net loss attributable to owners of the parent of ¥93.301 million. Accordingly, we recognize that events or circumstances exist that raise material doubt about the going-concern assumption, and the Group is required to improve its profitability and financial position.」
Operating losses and other issues, as well as material doubt about the going-concern assumption, continue. Net assets remain positive at ¥23.267 million, but decreased by ¥93.464 million from the end of the previous consolidated fiscal year due to the quarterly net loss of ¥93.301 million. - FY2018MitigatedAnnual report
「Negative operating cash flow, which had continued since the previous fiscal year and earlier, turned positive during the consolidated fiscal year, and the company eliminated its negative net worth as of the end of the fiscal year. However, it has continued to record operating losses since the previous fiscal year and earlier, including an operating loss of ¥29.906 million, an ordinary loss of ¥26.807 million and a net loss attributable to owners of the parent of ¥33.413 million for the consolidated fiscal year.」
Although negative operating cash flow and negative net worth have been eliminated, operating losses and other issues continue, and material doubt about the going-concern assumption remains. - FY2018-Q3WorsenedAnnual report
「As a result, revenue was ¥231.285 million, a substantial decrease from the same period of the previous year, while the company recorded an operating loss of ¥179.326 million, an ordinary loss of ¥175.921 million and a quarterly net loss attributable to owners of the parent of ¥177.407 million. This resulted in a negative net worth of ¥277.207 million at the end of the third quarter. These circumstances give rise to material doubt regarding the going-concern assumption, and the company is under pressure to promptly improve its profitability and financial position.」
The company continues to disclose material doubt regarding the going-concern assumption, while the negative net worth has increased from ¥135.091 million in the first quarter to ¥277.207 million. It also recorded an operating loss and other losses, indicating a more substantial deterioration in its financial position. - FY2018-Q1WorsenedAnnual report
「As a result, revenue was ¥59.433 million, down ¥142.315 million from the same period of the previous year, while the company recorded an operating loss of ¥44.890 million, an ordinary loss of ¥34.665 million and a quarterly net loss of ¥35.160 million. The company also had a negative net worth of ¥135.091 million at the end of the first quarter. These circumstances give rise to material doubt regarding the going-concern assumption, and the company is under pressure to promptly improve its profitability and financial position.」
The company continues to disclose material doubt regarding the going-concern assumption and explicitly reports lower revenue than in the same period of the previous year, losses at each profit level and a negative net worth of ¥135.091 million. - FY2017WorsenedAnnual report
「The company recorded an operating loss of ¥140.956 million, an ordinary loss of ¥120.718 million and a net loss of ¥129.979 million for the fiscal year, resulting in a negative net worth of ¥99.931 million. Operating cash flow was also negative for the fourth consecutive period. Given the substantial losses, the negative net worth at the end of the fiscal year and the continued negative operating cash flow, conditions exist that raise material doubt regarding the going-concern assumption, and the company is under pressure to promptly improve its profitability and financial position.」
The company continues to disclose material doubt regarding the going-concern assumption and explicitly reports a negative net worth of ¥99.931 million and negative operating cash flow for the fourth consecutive period. - FY2017-Q3WorsenedAnnual report
「As a result, we recorded an operating loss of ¥88,666 thousand, an ordinary loss of ¥36,136 thousand and a quarterly net loss of ¥38,621 thousand, leaving us in a state of insolvency of ¥8,572 thousand. Given the substantial losses recorded, material doubt exists regarding the going-concern assumption, and we are required to urgently improve profitability and our financial condition.」
Continues to disclose material doubt regarding the going-concern assumption and, in this period, explicitly states that net assets were negative by ¥8,572 thousand, indicating a more serious financial position. - FY2017-Q2RestatedAnnual report
「As a result, we recorded an operating loss of ¥48,325 thousand. Given the substantial loss recorded, material doubt exists regarding the going-concern assumption, and we are required to urgently improve profitability and our financial condition.」
Continues to disclose material doubt regarding the going-concern assumption following an operating loss of ¥48,325 thousand. The loss narrowed from the ¥120,417 thousand operating loss in the same period of the prior year. - FY2017-Q1First statedAnnual report
「As a result, we recorded an operating loss of ¥24,712 thousand. Given the substantial loss recorded, material doubt exists regarding the going-concern assumption, and we are required to urgently improve profitability and our financial condition.」
States that the ¥24,712 thousand operating loss gives rise to material doubt regarding the going-concern assumption.