Delay in recovering upfront investment associated with new service development
First written in FY2019. 2 of 5 entries say "Materialised", first in FY2021. Latest entry: 2026-06-12.
The whole theme swung hardest in 2025: 4 of 15 companies on the "Worse" side.
11 other companies' latest entry also says "Mitigated".
- 2026-06-12MitigatedEarnings presentation
「As the various investments made since the fiscal year ending January 2026 enter the recovery phase, we expect to secure profit.」
The Company indicated that upfront investments would enter the recovery phase and that profit was expected to be secured. It did not state that recovery had been completed. - FY2026MaterialisedAnnual report
「Monetization was delayed because the sale of this site resulted in the contract being concluded in the fiscal year ending January 2027. However, based on the expertise acquired through this project, we will continue working to secure new projects.」
Regarding the risk of delayed monetization of new businesses and upfront investments, the sale agreement for the real estate site and its monetization were actually postponed to the fiscal year ending January 2027. - FY2024RestatedAnnual report
「Our group intends to make effective use of the membership and other assets cultivated through its golf business to develop new services in the travel business that other companies do not offer. Developing these services may require unanticipated upfront investment, temporarily reducing earnings.」
The development of new travel services using golf membership and other assets, together with the associated risks of upfront investment and lower earnings, has been reconfirmed. - FY2021MaterialisedAnnual report
「To further expand its business areas, our group recognized an impairment loss of ¥59.409 million on goodwill in the travel business as an extraordinary loss.」
Regarding investment in new services and businesses, the travel business failed to meet its plan and incurred an impairment loss of ¥59.409 million, demonstrating the actual delay and uncertainty in recovering the investment. - FY2019First statedAnnual report
「Developing these services may require unanticipated upfront investment, temporarily reducing earnings. We are advancing plans to recover these investments at an early stage, but if progress does not proceed as planned, our group's operating results and financial position could be affected.」
The potential for unanticipated upfront investment and delayed recovery was newly disclosed in connection with developing new travel services using golf and medical membership assets.