ONGAESHI Project Fails to Meet Funding Target
First written in FY2023. 2 of 7 entries say "Materialised", first in 2026-05-14. Latest entry: FY2026.
No other company in this theme has enough history to compare yet.
- FY2026MaterialisedAnnual report
「An allowance for doubtful accounts of ¥150 million was recognized in respect of trade receivables from the Singapore company operating overseas in the ONGAESHI project.」
An allowance for doubtful accounts of ¥150 million was recognized for trade receivables from the overseas entity involved in ONGAESHI's overseas expansion, and the risks relating to financing and overseas expansion materialized as an actual loss. - FY2025RestatedAnnual report
「We invested in BOUNDLESSEDU PTE.LTD., established in Singapore with a view to expanding this project overseas, and executed a silent partnership investment to finance that company.」
The investment in BOUNDLESSEDU and the silent partnership investment for ONGAESHI's overseas expansion have been completed, and the risk of impairment losses if the business does not progress as expected continues to be disclosed. - FY2025-H1MitigatedAnnual report
「We made a silent partnership investment to finance BOUNDLESSEDU PTE.LTD., a Singapore company established with a view to expanding this project overseas.」
The silent partnership investment to finance the overseas corporation, which had been listed as planned in the previous year, was made, and the funding arrangements for ONGAESHI's overseas expansion moved into the implementation stage. - FY2024ReframedAnnual report
「We plan to invest in BOUNDLESSEDU PTE.LTD., established in Singapore with a view to expanding this project overseas, and to make a silent partnership investment for the purpose of financing that company. These investments are intended to promote the project's overseas expansion, but if the company's business does not progress as expected, an impairment loss or other loss may arise.」
The plan changed from the previous assumption of securing funds through third-party investment in ONGAESHI Corporation to an overseas expansion structure involving investment in an overseas corporation, the sale of the system and a silent partnership investment, and the risk of impairment losses was disclosed. - FY2023First statedAnnual report
「The plan is based on ONGAESHI Corporation securing the necessary business funds through investment from third parties, being removed from the Group's subsidiaries, and then launching its services. We are currently developing the business based on the 3-year STAR project and seeking financing from investors across a broad range of fields, including operating companies and funds wishing to participate in the DAO (decentralized autonomous organization). However, if funding does not progress as scheduled, financial performance may fluctuate significantly.」
A new disclosure describes the financing plan based on ONGAESHI Corporation securing funds through third-party investment, being removed from the Group's subsidiaries and launching its services, as well as the risk of fluctuations in financial performance if funding does not progress as scheduled.