Komori
Ray (4317) · RiskRestated

Changes in the Advertising Business Model Driven by Media Diversification

First written in FY2017. 5 of 13 entries say "Restated". Latest entry: FY2026.

13entries
10years
1from disclosures
Share on X
How it moved
ProgressHeldSoftenedWorseRestatedFY2017 – FY2018WorsenedFY2020 – FY2022ReframedFY2024 – 2026-05-012017: 120172018: 220182019: 020192020: 120202021: 120212022: 120222023: 320232024: 120242025: 120252026: 22026
Same theme, other companies
Market shift from traditional advertising to programmatic advertisingA theme 7 companies write about · 2 as a headwind · 3 as a tailwind

Ray moved to the "Worse" side of this theme in 2020.

2 other companies' latest entry also says "Restated".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Full recordFilings, disclosures and news, newest first
  1. FY2026RestatedAnnual report

    「In the advertising industry, the principal market for our Group, domestic advertising expenditure in 2025 was ¥8,062.3 billion, or 105.1% of the previous year, according to Dentsu Inc. The overall market expanded, supported by large events such as Expo 2025 Osaka, Kansai, and growing demand for video advertising.」

    The disclosure states that, in addition to digitalization, large events and growing demand for video advertising contributed to the expansion of the advertising market.
  2. 2026-05-01ReframedGeneral Meetings of Shareholders

    「Clients are increasingly demanding promotions that use digital tools such as social media in addition to simply holding physical events.」

    The change in market structure is described as a shift from physical events alone to demand combining them with social media and other digital tools.
  3. FY2025ReframedAnnual report

    「Internet advertising expenditure, supported by the growing use of AI, vertical video advertising and connected TV, is driving the growth rate of total advertising expenditure, while advertising expenditure in the four mass media also exceeded the previous year for the first time in 3 years.」

    The disclosure specifies changes in the advertising business model as the expanded use of AI, vertical video advertising and connected TV in addition to the previous trend toward digitalization.
  4. FY2024ReframedAnnual report

    「As social and economic activity became more vibrant, driven by the increased use of digital methods including AI and the recovery in foot traffic, demand for advertising rose across various fields, including transportation, leisure and food service, while internet advertising expenditure and promotional media advertising expenditure for events, exhibitions, video and other media also increased.」

    The disclosure has reorganized the previous view of media diversification and digitalization into a structure characterized by digital methods including AI, the recovery in foot traffic, in-person events and increased demand for promotional media.
  5. FY2024-Q2RestatedAnnual report

    「The entertainment-related market, which is the market for our Group's businesses, is recovering steadily. Although the promotional media market is showing a trend toward a return to in-person events, its recovery is slow and the outlook remains uncertain.」

    The disclosure reconfirms a market structure in which recovery in the entertainment-related market coexists with a slow recovery and an uncertain outlook in the promotional media market.
  6. FY2024-Q1RestatedAnnual report

    「In the promotional media market, although foot traffic is recovering, we expect it will take time for various promotional activities, exhibitions and other events to return to pre-pandemic levels.」

    The disclosure describes a difference in market structure: the entertainment market is recovering markedly, while the promotional and exhibition fields will take time to recover to pre-pandemic levels.
  7. FY2023ReframedAnnual report

    「Japan's advertising expenditure reached a record high in 2022 and was beginning to shift from the decline seen in 2020 to a growth trajectory. However, only internet advertising expenditure exceeded the previous year, while advertising expenditure in the four mass media and promotional media advertising expenditure, one of our principal business areas, fell below the previous year.」

    The disclosure specifies a structural change in the advertising market in which growth in internet advertising expenditure coexists with declines in advertising expenditure in the four mass media and promotional media, rather than characterizing the change simply as the progress of digitalization.
  8. FY2022WorsenedAnnual report

    「In Japan's advertising industry, internet advertising expenditure exceeded advertising expenditure in the four traditional mass media—newspapers, magazines, radio and television—for the first time in 2021. In advertising, events and promotions alike, digital and in-person channels are now closely interconnected, and demand will increasingly grow for approaches that transcend the boundary between the two rather than relying solely on digital or in-person channels.」

    The disclosure specifies an environmental change in which internet advertising expenditure exceeded advertising expenditure in the four traditional media for the first time, increasing the need for greater integration of digital and in-person channels and approaches that transcend the boundary between them.
  9. FY2021WorsenedAnnual report

    「Against this backdrop, the spread of the novel coronavirus infection has significantly changed consumers' behavior and values, accelerating the trend toward digitalization known as digital transformation.」

    The disclosure specifies that, in addition to changes in media, technology and devices, the infectious disease changed consumers' behavior and values and accelerated digitalization.
  10. FY2020WorsenedAnnual report

    「However, the advertising and promotional industry is undergoing major changes as media diversify with the rise of the internet, technologies such as VR (virtual reality) and AR (augmented reality) evolve dramatically, and devices such as smartphones and tablets become more diverse, while customers are increasingly seeking direct results from advertising and promotional activities each year.」

    In addition to the previous diversification of media, the disclosure specifies changes in technology and devices, including VR, AR and smartphones, as well as stronger demands for advertising effectiveness, indicating that changes in the business environment are broadening.
  11. FY2018RestatedAnnual report

    「The advertising and promotional industry surrounding us is undergoing major changes as media become increasingly diversified, and there is growing demand for us to provide appropriate solutions to customers' diverse marketing challenges.」

    The diversification of the advertising and media environment, changes in business models and the resulting diversification of customer needs remain challenges.
  12. FY2018-Q3RestatedAnnual report

    「In the advertising, events and promotions fields, which are undergoing major changes, TV Asahi's "TV Asahi 360°" is expected to have a major impact.」

    The disclosure recognizes that the advertising, events and promotions fields are undergoing major changes, reconfirming the previous theme of changes in the advertising business environment.
  13. FY2017First statedAnnual report

    「The advertising and promotional industry surrounding us is undergoing major changes as media become increasingly diversified, and there is growing demand for us to provide appropriate solutions to customers' diverse marketing challenges.」

    The disclosure describes a structural change in which media diversification and business-model changes are progressing in the advertising industry, while demand for responses to customers' marketing challenges is increasing.
Moved together

"Stable growth with profitability through concentrating management resources on 4 businesses" moved the same way as this thread, in the same document, in 3 of its 13 moves.

333222★123456
  1. ★This thread
  2. 1Stable growth with profitability through concentrating management resources on 4 businesses3×
  3. 2Risk of an Economic Downturn Due to Supply-Side Constraints and Raw Material Prices3×
  4. 3Cancellation or Postponement of Events, Exhibitions and Concerts Due to Disasters3×
  5. 4Uncertainty over the outlook for economic conditions and the advertising market2×
  6. 5Securing stable revenue and orders2×
  7. 6Quarterly Results Marked by Lower Revenue and Profit2×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

When this could move next
Ray's next results are scheduled for 2026-10-14. Read the earnings preview It last moved in the General Meetings of Shareholders of 2026-05-01: "Reframed".
News
No news is linked to this thread yet. When an article touches it, it will appear here by date.
Changes in the Advertising Business Model Driven by Media Diversification | Ray Corporation (4317) | Komori