Failure to Achieve Results Following M&A and Capital Alliances
First written in FY2017. 6 of 13 entries say "Materialised", first in FY2020. Latest entry: FY2026.
Media Do moved to the "Worse" side of this theme in 2023, 1 year before the typical company in this theme (2024).
The whole theme swung hardest in 2023: 35 of 97 companies on the "Worse" side.
54 other companies' latest entry also says "Materialised".
- FY2026MaterialisedAnnual report
「During the consolidated fiscal year, the company recorded ¥328 million in impairment losses on goodwill and other assets related to consolidated subsidiaries in the Strategic Investment Business and ¥528 million in valuation losses on investment securities as extraordinary losses.」
The risks of failure to achieve results and valuation losses after M&A and investment have also materialized during the current period as ¥328 million in impairment losses on goodwill and other assets and ¥528 million in valuation losses on investment securities. - 2026-04-15MaterialisedEarnings presentation
「4Qに日本文芸社ののれんの減損等による特別損失を計上した」
M&A後の成果未達・収益化リスクについて、日本文芸社ののれん減損等が当期の特別損失として発生している。 - FY2025MaterialisedAnnual report
「During the consolidated fiscal year, the company recorded ¥482 million in impairment losses on goodwill and other assets related to consolidated subsidiaries in the Strategic Investment Business as an extraordinary loss.」
The risk of failure to achieve results after M&A and strategic investment has materialized during the current period as ¥482 million in impairment losses on goodwill and other assets. The company recorded impairment losses of ¥247 million for 日本文芸社 and ¥235 million for アルトラエンタテインメント. - FY2023-Q3MaterialisedAnnual report
「In the Strategic Investment Business, the company recorded a ¥287 million impairment loss on goodwill related to 株式会社Nagisa and a ¥171 million impairment loss on fixed assets associated with the termination of the GREET business.」
The risk of failure to achieve results after M&A and new businesses has additionally materialized as impairment losses of ¥287 million on Nagisa's goodwill and ¥171 million on the GREET business. - FY2022RestatedAnnual report
「During the consolidated fiscal year, the company also carried out multiple M&A transactions and capital and business alliances. Some acquired subsidiaries and investees have performed better than initially planned, while some transactions have not progressed as anticipated in terms of PMI (note).」
It continues to disclose the risk that PMI after M&A may not progress as anticipated, with stronger management through investment policies, criteria and the assignment of personnel serving as countermeasures. - FY2022-Q2MaterialisedAnnual report
「The company recorded an extraordinary loss, comprising an impairment loss of ¥394 million, related to its consolidated subsidiary 株式会社Nagisa. In the manga app business, its main business, the company reviewed the progress of revenue and other items under the initial plan in light of changes in the external environment, including digital platforms' responses to regulations concerning online advertising, and examined the recoverability of goodwill. As a result, it recognized an impairment loss.」
The risk of failure to meet post-M&A business plans and monetize the business has actually materialized as a ¥394 million impairment loss in Nagisa's manga app business, against a backdrop of changes in the external environment. - FY2021MitigatedAnnual report
「The Group currently has a clear investment policy and strict investment criteria, and is strengthening its management structure by assigning appropriate personnel to achieve business growth at its subsidiaries and investees. Based on its clear investment policy and strict investment criteria, it is pursuing new M&A transactions aimed at securing competitiveness over the medium to long term.」
While acknowledging that some past transactions have not progressed as anticipated in terms of PMI, it indicates that the management structure is being strengthened through investment policies and criteria and the assignment of personnel. - FY2020MaterialisedAnnual report
「Some of the acquired subsidiaries and investees have performed better than initially planned, while some past M&A transactions have not progressed as anticipated in terms of PMI (note).」
It states that some M&A transactions actually exist in which PMI after investment has not progressed as anticipated, making concrete a risk that had previously been presented as a possibility. - FY2018RestatedAnnual report
「In connection with these investment activities, if the relevant investee is added to the scope of consolidation, negative impacts and other effects may arise, potentially affecting the Group's business performance and financial condition. In addition, if an investee is unable to develop its business as anticipated at the time of investment, impairment losses on goodwill, property, plant and equipment and intangible assets arising from the investment, as well as valuation losses on financial assets such as shares, may arise, potentially affecting the Group's business performance and financial condition.」
It continues to disclose the risks arising from investees being brought into the scope of consolidation, business underperformance, impairment and valuation losses, and internal control problems. - FY2018-Q3Clarifying the scope of the impact of investment activity risksAnnual report
「In connection with these investment activities, if the relevant investee is added to the scope of consolidation, negative impacts and other effects may arise, potentially affecting the Group's business performance and financial condition.」
In addition to the underperformance, impairment losses and internal control problems at existing investees, it specifies as a risk the impact on business performance and financial condition arising from the investee itself being brought into the scope of consolidation. - FY2018-Q2RestatedAnnual report
「There is also a possibility that an investee may have internal control problems or engage in conduct that violates laws and regulations. If such problems or conduct cannot be remedied promptly after the investment, the credibility and corporate image of the Group may decline, potentially affecting its business performance and financial condition.」
It continues to disclose the risk that internal control problems or violations of laws and regulations at investees may be discovered or continue after investment. - FY2018-Q1RestatedAnnual report
「There is also a possibility that an investee may have internal control problems or engage in conduct that violates laws and regulations. If such problems or conduct cannot be remedied promptly after the investment, the credibility and corporate image of the Group may decline, potentially affecting its business performance and financial condition.」
In connection with investment activities, including the acquisition of 株式会社出版デジタル機構 as a subsidiary, it reiterates the risk that internal control problems or violations of laws and regulations at investees may be discovered or continue after investment. - FY2017First statedAnnual report
「If issues not recognized by the Company become apparent after an investment or alliance, or if the expected results are not achieved, the Company’s results may be affected.」
Discloses the possibility that previously unrecognized issues may emerge after investments, M&A or alliances, or that expected results may not be achieved.