Uncertainty surrounding new business development
First written in FY2021. 1 of 2 entries say "Restated". Latest entry: FY2023.
The whole theme swung hardest in 2025: 15 of 49 companies on the "Worse" side.
68 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「However, new business development is still at the conceptual stage. If additional expenditures such as personnel expenses are incurred as upfront investment, or new risks not previously anticipated arise, the business may fail to progress as planned, potentially affecting the company's operating results and financial condition.」
The company continues to state that new-market development and new businesses are still at the conceptual stage and involve upfront investment risks. - FY2021First statedAnnual report
「However, new business development is still at the conceptual stage. If additional expenditures such as personnel expenses are incurred as upfront investment, or new risks not previously anticipated arise, the business may fail to progress as planned, potentially affecting the Group's operating results and financial condition.」
The company explicitly states that the development of new markets, including SRM, is still at the conceptual stage.