User acquisition risk from customer acquisition costs and changes to advertising regulations
First written in FY2021. 1 of 2 entries say "Restated". Latest entry: FY2023.
The whole theme swung hardest in 2018: 5 of 18 companies on the "Worse" side.
27 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「The Company is focusing on acquiring project supporters through upfront investment in web and app advertising and various CRM activities and by promoting PR activities using media outlets and other channels. However, if customer-acquisition costs rise, regulations governing web and app advertising relating to personal information protection change, or the Company's ability to attract customers declines, its operating results and financial condition may be affected.」
The Company reconfirms the risks of higher customer-acquisition costs, changes in advertising regulations and declining customer-acquisition capability associated with upfront investment in advertising, CRM and PR. - FY2021First statedAnnual report
「The Company is focusing on acquiring project supporters through active upfront investment in television, web and app advertising and by promoting PR activities using media outlets and other channels. However, if customer-acquisition costs rise, regulations governing web and app advertising relating to personal information protection change, or the Company's ability to attract customers declines, its operating results and financial condition may be affected.」
In connection with customer-acquisition initiatives through advertising investment, the Company newly disclosed higher customer-acquisition costs, changes in web and app advertising regulations, and declining customer-acquisition capability as separate risks.