Delay in Launching the Crowdfunding Business and Impairment Loss
First written in FY2021. 4 of 13 entries say "Worsened", first in FY2022-Q2. Latest entry: 2026-05-18.
Zuu moved to the "Worse" side of this theme in 2021.
1 other company's latest entry also says "Mitigated".
- 2026-05-18MitigatedEarnings presentation
「The crowdfunding business took time to launch but recorded rapid revenue growth from the previous fiscal year. Operating income turned positive.」
The description of the crowdfunding business progressed from taking time to launch to reporting revenue growth and a return to operating profitability. - FY2025-H1MitigatedAnnual report
「Loan-based crowdfunding continued to produce successful offerings, while financial instrument intermediary and insurance agency services, led primarily by ZUU Wealth Management Co., Ltd., also grew steadily. New orders for PDCA-related services (Note) continued to accumulate steadily and finished in line with the initial plan. Meanwhile, costs continued to precede revenue in the equity investment-type crowdfunding business. As a result, for the current interim consolidated accounting period, revenue was ¥859,319 thousand, up 70.9% year on year, and the operating loss was ¥42,334 thousand, compared with an operating loss of ¥111,562 thousand in the same period of the previous year.」
Although costs continue to precede revenue in the equity investment-type crowdfunding business, revenue for the fintech transaction business as a whole increased 70.9% year on year, while the operating loss narrowed from ¥111,562 thousand to ¥42,334 thousand. - FY2024-Q2Revenue increased, but equity investment-type crowdfunding remained stagnant and costs continued to precede revenueAnnual report
「Loan-based crowdfunding continued to generate completed projects steadily, while financial instruments intermediary and insurance agency services, led mainly by ZUU Wealth Management, which became a consolidated subsidiary in the previous consolidated fiscal year, showed solid growth. Meanwhile, equity investment-type crowdfunding continued to face a situation in which costs preceded revenue because the number of projects remained sluggish,」
Loan-based crowdfunding continued to generate completed projects steadily, while the number of equity investment-type projects remained sluggish and costs continued to precede revenue. Total revenue from the fintech transaction business was ¥502.861 million. - FY2024-Q1RestatedAnnual report
「Loan-based crowdfunding continued to generate completed projects steadily, while financial instruments intermediary and insurance agency services, led mainly by ZUU Wealth Management, which became a consolidated subsidiary in the previous consolidated fiscal year, showed solid growth. Meanwhile, equity investment-type crowdfunding continued to face a situation in which costs preceded revenue because the number of projects remained sluggish,」
Loan-based crowdfunding continued to generate completed projects steadily, while the number of equity investment-type crowdfunding projects remained sluggish and costs continued to precede revenue. - FY2023Full-year revenue increased and the operating loss narrowed, but equity investment-type crowdfunding remained stagnantAnnual report
「In the crowdfunding business, we continued to advance PMI at the subsidiaries operating crowdfunding, as in the previous consolidated fiscal year. However, the sluggish number of closed deals meant that costs continued to precede revenue. We will pursue future growth by continuing to advance PMI and form attractive deals.」
PMI continued, and full-year revenue improved to ¥96.595 million while the operating loss narrowed to ¥112.138 million. However, the sluggish number of completed projects and costs preceding revenue remain. - FY2023-Q3Revenue increased and the operating loss narrowed, but equity investment-type crowdfunding remained stagnant and costs continued to precede revenueAnnual report
「During the nine months ended December 31, 2025, closed deals continued at a steady pace in lending-based crowdfunding, but the number of equity crowdfunding deals remained sluggish. As a result, costs continued to precede revenue, with revenue of ¥81.262 million, up 54.2% year on year, and an operating loss of ¥82.743 million, compared with an operating loss of ¥135.534 million in the same period of the previous year.」
For the crowdfunding business as a whole, revenue increased 54.2% year on year and the operating loss narrowed from the same quarter of the previous year. However, the sluggish number of equity investment-type projects and costs preceding revenue continued. - FY2023-Q2Overall recovery, but equity investment-type crowdfunding remained stagnant and costs continued to precede revenueAnnual report
「During the first half of the current fiscal year on a consolidated basis, loan-based crowdfunding continued to generate completed projects steadily. However, equity investment-type crowdfunding continued to face a situation in which costs preceded revenue because the number of projects remained sluggish. Revenue was ¥58.834 million, up 46.2% year on year, and the operating loss was ¥54.368 million, compared with an operating loss of ¥85.222 million in the same period of the previous year.」
Loan-based crowdfunding continued to generate completed projects steadily, and total business revenue increased 46.2% year on year while the operating loss narrowed. Meanwhile, the sluggish number of equity investment-type projects and costs preceding revenue continued. - FY2023-Q1WorsenedAnnual report
「During the three months ended June 30, 2025, closed deals continued at a steady pace in lending-based crowdfunding, but the number of equity crowdfunding deals remained sluggish. As a result, costs continued to precede revenue, with revenue of ¥8.623 million, down 63.0% year on year, and an operating loss of ¥50.662 million, compared with an operating loss of ¥43.083 million in the same period of the previous year.」
In the crowdfunding business, the number of equity investment-type projects remained sluggish and costs continued to precede revenue. Revenue declined 63.0% year on year, and the operating loss widened from the same quarter of the previous year. - FY2022WorsenedAnnual report
「Since the previous consolidated fiscal year, the company has been developing the structure needed to operate financial services directly in the future. In the current consolidated fiscal year, costs continued to precede revenue because the number of completed projects remained sluggish. Revenue was ¥77.898 million, down 31.5% from the previous consolidated fiscal year, and the operating loss was ¥196.421 million, compared with an operating loss of ¥232.251 million in the previous consolidated fiscal year.」
In the crowdfunding business, the sluggish number of completed projects and costs preceding revenue continued, resulting in a 31.5% year-on-year decline in full-year revenue. The operating loss narrowed from the previous fiscal year. - FY2022-Q3WorsenedAnnual report
「Since the previous consolidated fiscal year, we have been building the structure needed to operate financial services directly going forward. During the nine months ended December 31, 2024, costs continued to precede revenue because the number of closed deals remained sluggish. Revenue was ¥52.696 million, down 34.9% year on year, and the operating loss was ¥135.534 million, compared with an operating loss of ¥181.212 million in the same period of the previous year.」
The sluggish number of completed projects and costs preceding revenue continued, and revenue from the crowdfunding business declined 34.9% year on year. Although the operating loss narrowed, the risk of a delayed launch accompanied by declining revenue has become more quantifiable. - FY2022-Q2WorsenedAnnual report
「Since the previous consolidated fiscal year, we have been building the structure needed to operate financial services directly going forward. During the six months ended September 30, 2024, costs continued to precede revenue because the number of closed deals remained sluggish. Revenue was ¥40.249 million, down 8.7% year on year, and the operating loss was ¥85.222 million, compared with an operating loss of ¥131.263 million in the same period of the previous year.」
In the crowdfunding business, the number of completed projects remained sluggish and revenue declined year on year, while costs continued to precede revenue. The operating loss narrowed from the same period of the previous year. - FY2022-Q1RestatedAnnual report
「Since the previous consolidated fiscal year, the company has been developing the structure needed to operate financial services directly in the future. Although costs continued to precede revenue during the first quarter of the current fiscal year on a consolidated cumulative basis, revenue was ¥23.320 million, up 123.7% year on year, and the operating loss was ¥43.083 million, compared with an operating loss of ¥68.656 million in the same quarter of the previous year.」
In the crowdfunding business, costs continue to precede revenue, but revenue increased and the operating loss narrowed from the same quarter of the previous year. - FY2021MaterialisedAnnual report
「Because the crowdfunding business performed below the results initially anticipated, the company carefully reviewed its future business plan and recorded impairment losses on goodwill and related fixed assets associated with the business.」
The delayed service launch and revision of the business plan actually occurred, and the company recorded an impairment loss of ¥247.988 million on goodwill and other assets.