Failure to Monetize New Businesses
First written in FY2020. 8 of 10 entries say "Restated". Latest entry: FY2025-H1.
The whole theme swung hardest in 2025: 6 of 14 companies on the "Worse" side.
19 other companies' latest entry also says "Restated".
- FY2025-H1RestatedAnnual report
「During the current interim consolidated accounting period, there were no new business or other risks, nor any material changes to the business and other risks described in the securities report for the previous fiscal year.」
The Group states that there has been no new occurrence or material change in the risk that new businesses may fail to achieve monetization. - FY2024RestatedAnnual report
「If the Group fails to make progress in monetizing a business after entering a field different from its current business areas, or becomes newly subject to laws and regulations relating to that field, this may affect the Group's business and performance.」
The Group continues to identify the risks of failing to achieve monetization, regulatory compliance or M&A synergies as it expands its financial services, transaction platform and ERP businesses. - FY2024-Q3RestatedAnnual report
「During the nine-month period ended [the current third quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」
The Group states that there has been no new occurrence or material change in the risk that new businesses may fail to achieve monetization. - FY2024-Q1RestatedAnnual report
「During the three-month period ended [the current first quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」
The Group states that there has been no new occurrence or material change in the risk that new businesses may fail to achieve monetization. - FY2023-Q3RestatedAnnual report
「During the nine-month period ended [the current third quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」
The Group states that there has been no new occurrence or material change in the risk that new businesses may fail to achieve monetization. - FY2023-Q2RestatedAnnual report
「During the six-month period ended [the current second quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」
The Group states that there has been no new occurrence or material change in the risk that new businesses may fail to achieve monetization. - FY2023-Q1RestatedAnnual report
「During the three-month period ended [the current first quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」
The Group states that there has been no new occurrence or material change in the risk that new businesses may fail to achieve monetization. - FY2022-Q3RestatedAnnual report
「During the nine-month period ended [the current third quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」
The Group states that there has been no new occurrence or material change in the risk that new businesses may fail to achieve monetization. - FY2021WorsenedAnnual report
「The Group also recognizes capital alliances and M&A as effective means of expanding its business and developing new businesses. In connection with capital alliances and M&A, the Group plans to reduce risks by thoroughly examining synergies with existing services and other risks. However, the expected business synergies may not materialize, new legal or business risks may arise because of the limitations of due diligence, or the expected return on investment may not be achieved.」
In addition to the risk that new businesses may fail to achieve monetization, the Group explicitly identifies the risks of unrealized synergies in M&A and capital alliances, due diligence, investment returns and impairment. - FY2020First statedAnnual report
「These strategies are still at an early stage. For example, the Group may in the future expand into fields different from its current business areas, including new financial services in the fintech sector.」
The Group states that expanding its ERP scope, financial services and transaction platform is still at an early stage, and identifies the risk that monetization and regulatory compliance may not progress.