Financial soundness risk due to a substantial decline in revenue and persistent negative operating cash flow
First written in FY2025. 4 of 6 entries say "Mitigated", first in FY2026-H1. Latest entry: 2026-08-13.
The whole theme swung hardest in 2025: 2 of 11 companies on the "Worse" side.
1 other company's latest entry also says "Restated".
- 2026-08-13RestatedEarnings
「Accordingly, we determined that no material uncertainty exists regarding the going-concern assumption.」
Although material events relating to the going-concern assumption were disclosed, the company reiterated its determination that no material uncertainty existed because the cash-flow plan was proceeding as scheduled. The original canonical thread has not been changed. - FY2026MitigatedAnnual report
「Through a company-wide review of the cost structure, operating cash flow for the current consolidated fiscal year turned positive for the first time in 4 fiscal years, generating ¥26.652 million.」
Although the going-concern risk remains a material event, it was determined that there are no significant concerns regarding cash flow for the foreseeable future due to the return to positive operating cash flow, financing and the return to profitability of the 2 core businesses. - FY2026-H1MitigatedAnnual report
「These initiatives are progressing smoothly, and the cash flow plan for the current consolidated fiscal year is also proceeding as scheduled. In addition, following the execution of borrowings from financial institutions, we have determined that there are currently no significant concerns regarding cash flow for the foreseeable future. Accordingly, we have determined that no material uncertainty regarding the going-concern assumption exists.」
Although the going-concern risk arising from the substantial revenue decline and operating cash flow deficit continues to be disclosed as a material event, it was determined that there are no significant concerns regarding cash flow for the foreseeable future due to the execution of borrowings and progress under the cash flow plan. - FY2025First statedAnnual report
「In addition, the platform/Web3 business, a new business, failed to progress as anticipated due to changes in the external environment and other factors, resulting in negative operating cash flow for the third consecutive fiscal year. As a result, events or circumstances exist that raise significant doubt about the going-concern assumption.」
For the first time, explicitly stated the existence of events and circumstances that raise significant doubt about the going-concern assumption. This was against a backdrop of a substantial revenue decline, significant losses and operating cash flow deficits for 3 consecutive fiscal years.