Risk of deterioration in performance due to continued research and development investment
First written in FY2016. 1 of 3 entries say "Restated". Latest entry: FY2020.
Osaka Organic Chemical Industry moved to the "Worse" side of this theme in 2021, 4 years before the typical company in this theme (2025).
The whole theme swung hardest in 2026: 14 of 29 companies on the "Worse" side.
6 other companies' latest entry also says "Reframed".
- FY2020ReframedAnnual report
「The Company and its subsidiaries make R&D investments at a certain level to maintain technological superiority. However, if the expected results are not achieved, this may affect the operating results of the Company and its subsidiaries.」
The explanation of the R&D investment risk has been reframed from the burden of investing regardless of fluctuations in operating results to the impact on operating results if the expected results of the investment are not achieved. - FY2018RestatedAnnual report
「The Company and its subsidiaries have adopted as a management policy the making of R&D investments at a certain level regardless of fluctuations in operating results in order to maintain technological superiority. Depending on the circumstances of fluctuations in operating results, making such R&D investments may cause operating results to deteriorate.」
Reiterates the policy of making R&D investments at a certain level regardless of operating results and the possibility that the investment burden may cause operating results to deteriorate. - FY2016First statedAnnual report
「The Company and its subsidiaries have adopted as a management policy the making of R&D investments at a certain level regardless of fluctuations in operating results in order to maintain technological superiority. Depending on the circumstances of fluctuations in operating results, making such R&D investments may cause operating results to deteriorate.」
The policy of making R&D investments at a certain level regardless of fluctuations in operating results explicitly identifies the investment burden as a risk that may cause operating results to deteriorate.