Upfront R&D in New Businesses and Commercialization Risk
First written in FY2016. 5 of 7 entries say "Restated". Latest entry: FY2026.
OPTiM moved to the "Worse" side of this theme in 2026, 4 years after the typical company in this theme (2022).
The whole theme swung hardest in 2025: 15 of 49 companies on the "Worse" side.
6 other companies' latest entry also says "Reframed".
- FY2026ReframedAnnual report
「To promote balanced portfolio management that is resilient to changes in the operating environment, the Group invests in M&A and new businesses, as well as in R&D. However, these initiatives involve uncertainty, and the Group’s business and performance could be affected if the results of its R&D or business investments fail to materialize as expected.」
The risk of front-loaded R&D spending in new businesses was reorganized as uncertainty over the results of portfolio management combining M&A, business investment and R&D investment. - FY2024RestatedAnnual report
「As the Company continues to pursue new businesses, R&D expenses may be incurred ahead of revenue, causing profit margins to decline. In addition, the Group’s performance could be affected if a new business fails to grow as expected or an unforeseen event occurs.」
The Company continues to disclose the risks in new businesses of front-loaded R&D spending, declining profit margins and failure to achieve commercialization. - FY2022RestatedAnnual report
「As the Company continues to pursue new businesses, R&D expenses may be incurred ahead of revenue, causing profit margins to decline. In addition, if a new business fails to grow as expected, the Group’s performance could be affected.」
The Company continues to disclose the risks in new businesses of front-loaded R&D spending, declining profit margins and failure to achieve commercialization. - FY2021RestatedAnnual report
「As the Company continues to pursue new businesses, R&D expenses may be incurred ahead of revenue, causing profit margins to decline. In addition, if a new business fails to grow as expected, the Group’s performance could be affected.」
The Company continues to disclose the risks of front-loaded R&D spending and failure to commercialize new businesses. - FY2019RestatedAnnual report
「As the Company continues to pursue new businesses, R&D expenses may be incurred ahead of revenue, causing profit margins to decline. In addition, if a new business fails to grow as expected, the Company’s performance could be affected.」
The Company continues to disclose the risks of front-loaded R&D spending, declining profit margins and failure to commercialize new businesses. - FY2018RestatedAnnual report
「As the Company continues to pursue new businesses, R&D expenses may be incurred ahead of revenue, causing profit margins to decline. In addition, if a new business fails to grow as expected, the Company’s performance could be affected.」
The Company continues to disclose the risks of front-loaded R&D spending and failure to commercialize new businesses. - FY2016First statedAnnual report
「As the Company continues to pursue new businesses, R&D expenses may be incurred ahead of revenue, causing profit margins to decline. In addition, if a new business fails to grow as expected, the Company’s performance could be affected.」
The Company discloses that continued efforts in new businesses could result in front-loaded R&D spending or failure to achieve expected results.