Unexpected Post-M&A Risks and Failure to Achieve Synergies
First written in FY2016. 4 of 8 entries say "Mitigated", first in FY2017. Latest entry: FY2026.
The whole theme swung hardest in 2025: 9 of 30 companies on the "Worse" side.
36 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「In pursuing M&A, we will carefully investigate the target company's performance, financial condition and contractual relationships in detail through due diligence by external organizations, while fully considering synergies with the Group, but」
The policy of using M&A and responses to post-acquisition risks, including due diligence and consideration of synergies, continue to be disclosed. - FY2025MitigatedAnnual report
「With respect to M&A, we will clarify the expected synergies and objectives, as well as the post-closing PMI design, and seek to acquire businesses that will become core businesses of the Group in the future.」
As a response to failure to achieve synergies and other post-M&A risks, the disclosure states the policy of clarifying in advance the objectives and synergies, as well as the post-closing PMI design. - FY2024RestatedAnnual report
「In pursuing M&A, we will carefully investigate the target company's performance, financial condition and contractual relationships in detail through due diligence by external organizations, while fully considering synergies with the Group, but」
The disclosure reconfirms the policy of continuing to use M&A, due diligence by external organizations, and the risks of failing to achieve synergies and related responses. - FY2022MitigatedAnnual report
「In pursuing M&A, we will carefully investigate the target company's performance, financial condition and contractual relationships in detail through due diligence by external organizations, while fully considering synergies with the Group.」
Responses to M&A risks specified in the disclosure include due diligence by external organizations, consideration of synergies and monitoring of investment returns. - FY2020MitigatedAnnual report
「In pursuing M&A, we will carefully investigate the target company's performance, financial condition and contractual relationships in detail through due diligence by external organizations, while fully considering synergies with the Group.」
As a response to unexpected post-M&A risks and the risk of failing to achieve synergies, the disclosure specifies due diligence by external organizations. - FY2019RestatedAnnual report
「In pursuing M&A, the company will proceed carefully by conducting a detailed investigation of the target company's performance, financial condition and contractual relationships, and by fully considering synergies with the Group. However, if unexpected risks emerge after an acquisition, or if the initially expected benefits are not achieved and strategic objectives cannot be met, this could affect the Group's performance and financial position.」
Continues to disclose the policy of actively using M&A, the risks of unexpected events after an acquisition and failure to achieve synergies, and responses through due diligence. - FY2017MitigatedAnnual report
「In pursuing M&A, we will carefully investigate the target company's performance, financial condition and contractual relationships in detail, while fully considering synergies with the Group, but」
While continuing to highlight the possibility of unexpected post-M&A risks and failure to achieve synergies, the disclosure specifies responses based on detailed investigations of target companies and consideration of synergies. - FY2016First statedAnnual report
「If unexpected risks emerge after an acquisition, or if the initially expected benefits are not achieved and strategic objectives cannot be met, this could affect the Group's performance and financial position.」
Discloses the possibility that risks will materialize after an acquisition or that expected benefits will not be achieved in line with the policy of actively using M&A.