Insufficient fundraising for the IoT fund
First written in FY2016. 3 of 8 entries say "Materialised", first in FY2021-Q3. Latest entry: FY2025.
BroadBand Tower moved to the "Worse" side of this theme in 2021, 3 years after the typical company in this theme (2018).
The whole theme swung hardest in 2018: 3 of 8 companies on the "Worse" side.
2 other companies' latest entry also says "Materialised".
- FY2025MaterialisedAnnual report
「Our group recognized an impairment loss of ¥88.257 million on investment securities held by GiTV 1, consisting of investments in investment limited partnerships and other vehicles classified as other securities without market prices. Because losses are expected to arise from the liquidation of the relevant partnership, we recognized an impairment loss for the estimated amount of those losses on part of GiTV 1's investments in investment limited partnerships and other vehicles.」
Regarding the risk of valuation losses on GiTV fund investees and investment partnerships, an impairment loss of ¥88.257 million was recognized on investments in investment partnerships and other vehicles. - FY2022MaterialisedAnnual report
「The company recognized an impairment loss of ¥68.649 million on investment securities held by GiTV 1, consisting of unlisted stock acquisition rights classified as other securities.」
Regarding the risk of valuation losses at investee companies, an impairment loss of ¥68.649 million was actually recognized on stock acquisition rights held by GiTV FundⅠ. - FY2021WorsenedAnnual report
「We recorded an impairment loss of ¥946.818 million on investment securities held by GiTV 1, comprising ¥762.336 million in unlisted shares, ¥38.962 million in unlisted bonds and ¥145.518 million in stock acquisition rights.」
Impairment of more than ¥946 million was recognized on investment securities held by GiTV FundⅠ. The previously disclosed risk of valuation losses at investee companies has materialized as a larger loss. - FY2021-Q3MaterialisedAnnual report
「GiTV FundⅠInvestment,L.P. recorded an impairment loss on investment securities of ¥680 million as an extraordinary loss in the third quarter consolidated accounting period.」
Regarding the risk of valuation losses due to declines in the intrinsic value of investees and other factors, a valuation loss of ¥680 million was actually recorded on securities held by GiTV FundⅠ. - FY2020WorsenedAnnual report
「If the performance of an investee deteriorates or the investee is unable to develop its business as anticipated at the time of investment, impairment losses or valuation losses may arise, and we may be unable to recover the investment.」
In addition to the previously disclosed risk of insufficient fundraising, the company explicitly identified the risks of impairment losses, valuation losses and inability to recover investments due to deterioration in investee performance or failure to achieve business development targets. - FY2018RestatedAnnual report
「GiTV FundⅠInvestment,L.P. invests in AI- and IoT-related venture companies.」
While continuing investment activities through the fund, the company continues to disclose the risk of being unable to raise sufficient funds from investors. - FY2017RestatedAnnual report
「If sufficient funds cannot be raised from investors in the fund offering, investment activities may be hindered and business performance may be affected.」
The risk that insufficient fundraising for the IoT fund will affect investment activities and operating results continues. - FY2016First statedAnnual report
「If sufficient funds cannot be raised from investors in the fund offering, investment activities may be hindered and business performance may be affected.」
The company discloses the risk that fundraising for Global IoT Technology Ventures may be insufficient.