Failure to Achieve Plan for Second Growth Engine
First written in FY2017. 16 of 32 entries say "Mitigated", first in FY2018-Q1. Latest entry: 2026-08-14.
Advanced Media moved to the "Worse" side of this theme in 2019, 4 years before the typical company in this theme (2023).
The whole theme swung hardest in 2025: 15 of 49 companies on the "Worse" side.
4 other companies' latest entry also says "Mitigated".
- 2026-08-14MitigatedEarnings
「BSR2 status (before consolidated adjustments, Japanese GAAP)」
BSR2 revenue increased from ¥200 million in the same period of the previous year to ¥560 million, while its operating loss narrowed from ¥19 million to ¥16 million. - FY2026MitigatedAnnual report
「In BSR2, the second growth engine, the loss narrowed.」
BSR2 reported revenue of ¥911 million, up 19.5% year on year, and its operating loss narrowed from ¥98 million to ¥62 million. The business remains loss-making, but an improvement in profitability was indicated. - 2026-05-13MitigatedRevision of earnings forecasts
「In BSR2, the second growth engine, the loss narrowed.」
BSR2's operating loss was ¥62 million, indicating a narrower loss. - FY2026-H1MitigatedAnnual report
「BSR2 (before consolidation adjustments): revenue (year-on-year change) ¥392 million (up 31.3%); operating profit (year-on-year change) △¥51 million (—)」
BSR2 reported revenue growth, and its operating loss narrowed from ¥68 million in the same period a year earlier to ¥51 million. The business remains loss-making, but an improvement in profitability was indicated. - FY2025MitigatedAnnual report
「BSR2 (before consolidation adjustments): revenue (year-on-year change) ¥762 million (up 13.8%); operating profit (year-on-year change) △¥98 million (—)」
BSR2 reported revenue growth, and its operating loss narrowed from ¥120 million in the previous fiscal year to ¥98 million. However, the loss at its Thai subsidiary widened due to restructuring-related costs. - FY2025-H1Revenue growth, with the loss broadly unchangedAnnual report
「BSR2 (the second growth engine) (before consolidation adjustments): revenue ¥299 million (up 4.7% year on year); operating profit △¥68 million (year-on-year change) —」
BSR2 reported revenue growth of 4.7% year on year, while posting an operating loss of ¥68 million, with the loss described as broadly unchanged from the same period a year earlier. Risks continue to materialize. - FY2024WorsenedAnnual report
「Regarding earnings, BSR1 (the first growth engine) saw substantial profit growth in its CTI, VoXT and Medical divisions, resulting in a 27.7% increase from the same period a year earlier, while BSR2 (the second growth engine) saw its loss increase.」
While BSR1's profit increased, BSR2 posted an operating loss of ¥120 million, with an increase in the loss explicitly stated. - FY2024-Q3WorsenedAnnual report
「For BSR2 (the second growth engine), revenue was up 8.3% year on year. For BSR2 (the second growth engine), the loss increased slightly.」
BSR2 reported revenue growth of 8.3% year on year, while its operating loss was ¥104 million and the loss increased slightly. The disclosure indicates that profitability deteriorated despite revenue growth. - FY2024-Q2Revenue growth, with the loss broadly unchangedAnnual report
「For BSR2 (the second growth engine), revenue was up 4.2% year on year. For BSR2 (the second growth engine), the loss was broadly unchanged from the same period a year earlier.」
BSR2 reported revenue growth, while the loss was described as broadly unchanged from the same period a year earlier, indicating limited progress in improving profitability. - FY2024-Q1MitigatedAnnual report
「BSR2 (the second growth engine) ¥134 million, up 28.5%, △¥38 million」
BSR2 reported revenue of ¥134 million, up 28.5% year on year, and its operating loss narrowed to ¥38 million. - FY2023-Q3MitigatedAnnual report
「For BSR2 (the second growth engine), the operating loss narrowed from the same period a year earlier.」
BSR2 posted an operating loss of ¥91 million, but the loss narrowed from ¥107 million in the same period a year earlier, with improvements toward profitability noted. - FY2023-Q2MitigatedAnnual report
「For BSR2 (the second growth engine), the operating loss narrowed from the same period a year earlier.」
BSR2 reported revenue growth of 25.2% year on year, and its operating loss narrowed to ¥63 million from ¥81 million in the same period a year earlier. - FY2023-Q1Higher revenue, loss broadly unchanged year on yearAnnual report
「BSR2 (the second growth engine) ¥104 million, up 20.3%, △¥50 million” “In BSR2 (the second growth engine), the loss was broadly unchanged from the same period of the previous year.」
BSR2 reported revenue of ¥104 million, up 20.3% year on year, while its operating loss was ¥50 million, leaving the deficit broadly unchanged from the same period a year earlier. - FY2022MitigatedAnnual report
「BSR2 (second growth engine) ¥568 million, down 15.9%, △¥103 million」
BSR2 continued to report lower revenue and an operating loss, but its operating loss narrowed from ¥215 million in the previous fiscal year to ¥103 million as the overseas business improved earnings and Rixio's loss was no longer recognized, among other factors. - FY2022-Q3MitigatedAnnual report
「In addition, in BSR2 (the second growth engine), the overseas business improved earnings and narrowed its loss, while the loss previously recorded by consolidated group company 株式会社Rixio was no longer recognized, resulting in a substantial year-on-year narrowing of the loss.」
BSR2 continued to report lower revenue and an operating loss, with revenue down 25.2% year on year and an operating loss of ¥107 million. However, its loss narrowed substantially year on year as the overseas business improved earnings and Rixio's loss was no longer recognized, among other factors. quantified is true, materialized is true. - FY2022-Q2MitigatedAnnual report
「In addition, in BSR2 (the second growth engine), the overseas business substantially narrowed its loss, while the loss previously recorded by consolidated group company 株式会社Rixio was no longer recognized, resulting in a narrower loss year on year.」
BSR2 remained in a difficult position, reporting revenue of ¥218 million, down 30.0% year on year, and an operating loss of ¥81 million. However, its loss narrowed year on year as the overseas business improved earnings and Rixio's loss was no longer recognized. - FY2022-Q1MitigatedAnnual report
「In terms of operating profit, BSR2 (the second growth engine) narrowed its loss year on year as the overseas business improved earnings and the loss previously recorded by consolidated group company 株式会社Rixio was no longer recognized.」
BSR2 continued to report lower revenue, but its loss narrowed year on year as the overseas business improved earnings and Rixio's loss was no longer recognized. - FY2021WorsenedAnnual report
「BSR2 (second growth engine) ¥676 million, down 38.1%, △¥215 million」
The second growth engine reported revenue of ¥676 million, down 38.1% year on year, and an operating loss of ¥215 million, with lower revenue and a loss continuing. - FY2021-Q3WorsenedAnnual report
「BSR2 (second growth engine) ¥475 million, down 36.8%, △¥186 million」
BSR2 reported revenue of ¥475 million, down 36.8% year on year, and an operating loss of ¥186 million. The second growth engine continued to report lower revenue and a loss because of the impact of COVID-19 on the Thai subsidiary and the disappearance of revenue recognition at Gramo, among other factors. - FY2021-Q2Lower revenue continues due to changes in the scope of consolidation and other factorsAnnual report
「BSR2, the second growth engine, also posted lower revenue because its subsidiary Rixio specialized its business in the provision of on-site personnel dispatch services at construction sites, while sales from 株式会社グラモ, which was part of the consolidated group in the previous fiscal year, were no longer recorded.」
The disclosure identified Rixio's business specialisation and the disappearance of revenue recognition following Gramo's exclusion from consolidation as factors behind BSR2's lower revenue. - FY2021-Q1MitigatedAnnual report
「In terms of earnings, operating profit declined year on year in BSR1 (the first growth engine) because the Medical business division, which was most affected by COVID-19, reported a substantial decline in profit. In BSR2 (the second growth engine), however, the loss narrowed year on year as earnings improved and the loss previously recorded by consolidated group company 株式会社グラモ was no longer recognized.」
BSR2 revenue declined because Gramo was excluded from consolidation, but the loss narrowed year on year as earnings improved and Gramo's loss was no longer recognized. - FY2020WorsenedAnnual report
「In BSR2 (the second growth engine), profit declined year on year because losses widened at consolidated subsidiary AMIVOICE THAI CO., LTD. and Gramo. However, the group as a whole achieved substantial profit growth of 60.0% year on year, driven by a significant increase in profit at BSR1 (the first growth engine).」
BSR2 reported lower profit because losses widened at the Thai subsidiary and Gramo, resulting in an operating loss of ¥301 million. Higher profit at BSR1 offset the impact at the group level. - FY2020-Q3WorsenedAnnual report
「In BSR2 (the second growth engine), profit declined year on year because losses widened at consolidated subsidiary AMIVOICE THAI CO., LTD. and Gramo. However, the group as a whole achieved substantial profit growth of 60.0% year on year, driven by a significant increase in profit at BSR1 (the first growth engine).」
BSR2 reported lower profit because losses widened at the Thai subsidiary and Gramo, and the monetisation risk associated with the second growth engine continued and worsened. BSR2 disclosed an operating loss of ¥273 million. - FY2020-Q2WorsenedAnnual report
「In BSR2 (the second growth engine), profit declined year on year because the wider losses at consolidated subsidiary AMIVOICE THAI CO., LTD. in Thailand and 株式会社グラモ affected results.」
In the second growth engine, profit declined year on year because losses widened at the Thai subsidiary and Gramo, and the monetisation risk deteriorated. - FY2020-Q1WorsenedAnnual report
「In BSR2 (the second growth engine), the loss widened year on year, partly because consolidated subsidiaries AMIVOICE THAI CO., LTD. and 株式会社グラモ reported lower revenue. As a result, the group as a whole reported lower profit year on year, affected by the wider loss of BSR2.」
In the second growth engine, lower revenue at the Thai subsidiary and Gramo widened the loss and reduced profit for the group as a whole. - FY2019WorsenedAnnual report
「In BSR2 (the second growth engine), AMIVOICE THAI CO., LTD. increased profit, but the loss widened because the overseas business incurred costs ahead of the rebuilding of its business structure, among other factors.」
BSR2 as a whole increased revenue, but its loss widened because of costs incurred ahead of the rebuilding of the overseas business structure, and the monetisation risk associated with the second growth engine remained. - FY2019-Q3WorsenedAnnual report
「In BSR2 (the second growth engine), the loss widened because the overseas business incurred costs ahead of the rebuilding of its business structure. Nevertheless, the group as a whole increased profit 44.5% year on year and strengthened its earnings structure.」
BSR2 as a whole increased revenue, but its loss widened because of costs incurred ahead of the rebuilding of the overseas business structure. - FY2019-Q2MitigatedAnnual report
「BSR2 (the second growth engine) increased revenue 57.8% year on year, driven by substantial revenue growth in the Business Development Center, consolidated subsidiary AMIVOICE THAI CO., LTD. and Gramo.” “BSR2 (the second growth engine) narrowed its loss year on year and strengthened its earnings structure.」
Against the risk of lower BSR2 revenue caused by planned projects being pushed back, as disclosed in the previous quarter, BSR2 as a whole increased revenue 57.8% year on year in the current quarter and also narrowed its loss. - FY2019-Q1MaterialisedAnnual report
「However, revenue declined because planned projects were pushed back to the second quarter and beyond.」
In BSR2's SEC business division, planned projects were pushed back to the second quarter and beyond, contributing to lower revenue in the division. BSR2 as a whole, however, reported higher revenue. - FY2018MitigatedAnnual report
「BSR2 will reduce its loss as planned on a year-on-year basis and continue to drive higher profit for the group as a whole.」
Although the second growth engine remained loss-making, its loss narrowed as planned. The overseas business did not achieve the expected expansion, and the disclosure separately referred to rebuilding the partner strategy. - FY2018-Q1MitigatedAnnual report
「In this environment, revenue rose 35.1% from the same quarter of the previous year, exceeding the initial plan in every division of both the first and second growth engines.」
The disclosure stated that, following the shortfall against plan in the second growth engine in the previous fiscal year, every division of the first and second growth engines exceeded the initial plan in the current quarter. - FY2017First statedAnnual report
「The second growth engine increased revenue 16.3% year on year but fell substantially short of the initial plan. In particular, AMIVOICE THAI CO., LTD., a consolidated subsidiary in Thailand, fell significantly below plan because True Voice Campany Limited, a joint venture with Thailand's leading telecommunications operator True Group, struggled to acquire new customers, delaying the planned business rollout. In addition, at consolidated subsidiary 株式会社グラモ, the timing of revenue recognition for some of the large projects initially anticipated was pushed back because delivery schedules were reviewed, causing results to fall short of the initial plan.」
Although the second growth engine increased revenue, it fell short of plan because the Thai subsidiary struggled to acquire customers and delivery dates at Gramo were pushed back.