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Tms (4891) · FactRestated

Losses Resulting from R&D Investment Ahead of Revenue

First written in FY2023-Q3. 9 of 10 entries say "Restated". Latest entry: FY2027-H1.

10entries
4years
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ProgressHeldSoftenedWorseRestatedFY2023-Q3 – FY2027-H12023: 420232024: 320242025: 220252026: 12026
Same theme, other companies
Progress from Losses to Profitability through Growth InvestmentA theme 24 companies write about · 18 as a headwind · 5 as a tailwind

The whole theme swung hardest in 2017: 3 of 6 companies on the "Worse" side.

1 other company's 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.
Showing 14 of the 24 companies compared. The sentences above are computed from all 24.
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  1. FY2027-H1RestatedAnnual report

    「As a result of these activities, operating expenses during the interim accounting period totaled ¥392,262 thousand, comprising ¥239,806 thousand in R&D expenses, primarily for TMS-007, TMS-008 and other programs, and ¥152,455 thousand in other selling, general and administrative expenses. The operating loss was ¥392,262 thousand, the ordinary loss was ¥392,479 thousand and the interim net loss was ¥393,538 thousand.」

    The R&D-first loss structure continued, with no operating revenue and advance recognition of R&D expenses resulting in an operating loss of ¥392,262 thousand and an interim net loss of ¥393,538 thousand.
  2. FY2026-H1RestatedAnnual report

    「As a result of these activities, operating expenses during the interim accounting period totaled ¥471,934 thousand, comprising ¥298,666 thousand in R&D expenses, primarily for TMS-007, TMS-008 and other programs, and ¥173,267 thousand in other selling, general and administrative expenses. The operating loss was ¥471,934 thousand (¥452,240 thousand in the previous corresponding period), the ordinary loss was ¥484,716 thousand (¥451,834 thousand) and the interim net loss was ¥487,473 thousand (¥477,820 thousand).」

    The R&D-first loss structure continued, with the operating loss increasing from ¥452,240 thousand to ¥471,934 thousand year on year.
  3. FY2025RestatedAnnual report

    「Operating expenses during the fiscal year totaled ¥907,791 thousand, comprising ¥621,099 thousand in R&D expenses, primarily for TMS-008 development, and ¥286,692 thousand in other selling, general and administrative expenses. The operating loss was ¥907,791 thousand, the ordinary loss was ¥633,026 thousand and the net loss was ¥660,548 thousand.」

    The Company continued to record operating expenses ahead of revenue, resulting in an operating loss of ¥907,791 thousand and a net loss of ¥660,548 thousand. Although losses narrowed from the previous fiscal year, the R&D-first loss structure continued.
  4. FY2025-H1RestatedAnnual report

    「As a result of these activities, operating expenses during the interim accounting period totaled ¥452,240 thousand, comprising ¥314,515 thousand in R&D expenses, primarily for TMS-008 and other programs, and ¥137,724 thousand in other selling, general and administrative expenses. The operating loss was ¥452,240 thousand (¥345,107 thousand in the previous corresponding period), the ordinary loss was ¥451,834 thousand (¥342,149 thousand) and the interim net loss was ¥477,820 thousand (¥342,624 thousand).」

    The Company recorded operating expenses ahead of revenue, resulting in an operating loss of ¥452,240 thousand and an interim net loss of ¥477,820 thousand. Losses increased year on year.
  5. FY2025-Q1RestatedAnnual report

    「As a result of these activities, operating expenses during the first quarter totaled ¥223,250 thousand, comprising ¥154,173 thousand in R&D expenses, primarily for TMS-008 and other programs, and ¥69,077 thousand in other selling, general and administrative expenses. The operating loss was ¥223,250 thousand (¥151,762 thousand in the same period of the previous year), the ordinary loss was ¥223,808 thousand (¥148,619 thousand) and the quarterly net loss was ¥247,670 thousand (¥148,856 thousand).」

    The Company continued to record operating expenses ahead of revenue, resulting in an operating loss of ¥223,250 thousand, an ordinary loss of ¥223,808 thousand and a quarterly net loss of ¥247,670 thousand.
  6. FY2024-Q3RestatedAnnual report

    「Operating expenses during the first nine months totaled ¥566,505 thousand, comprising ¥364,393 thousand in R&D expenses, primarily for TMS-008 development, and ¥202,112 thousand in other selling, general and administrative expenses. The operating loss was ¥566,505 thousand (¥412,616 thousand in the same period of the previous year), the ordinary loss was ¥563,602 thousand (¥753,942 thousand) and the quarterly net loss was ¥564,315 thousand (¥753,159 thousand).」

    The Company continued to incur operating expenses ahead of revenue, resulting in an operating loss of ¥566,505 thousand and a quarterly net loss of ¥564,315 thousand. The operating loss increased from ¥412,616 thousand in the same period of the previous year.
  7. FY2024-Q2RestatedAnnual report

    「As a result of these activities, operating expenses during the first six months totaled ¥345,107 thousand, comprising ¥213,843 thousand in R&D expenses, primarily for TMS-008 and other programs, and ¥131,264 thousand in other selling, general and administrative expenses. The operating loss was ¥345,107 thousand (operating loss of ¥268,513 thousand in the same period of the previous year), the ordinary loss was ¥342,149 thousand (ordinary loss of ¥469,091 thousand) and the quarterly net loss was ¥342,624 thousand (quarterly net loss of ¥468,070 thousand).」

    The Company recorded operating expenses ahead of revenue, resulting in an operating loss of ¥345,107 thousand, an ordinary loss of ¥342,149 thousand and a quarterly net loss of ¥342,624 thousand.
  8. FY2024-Q1RestatedAnnual report

    「As a result of these activities, operating expenses during the first quarter totaled ¥151,762 thousand, comprising ¥76,927 thousand in R&D expenses, primarily for TMS-008 and other programs, and ¥74,834 thousand in other selling, general and administrative expenses. The operating loss was ¥151,762 thousand, the ordinary loss was ¥148,619 thousand and the quarterly net loss was ¥148,856 thousand.」

    The Company recorded operating expenses ahead of revenue, resulting in an operating loss of ¥151,762 thousand, an ordinary loss of ¥148,619 thousand and a quarterly net loss of ¥148,856 thousand.
  9. FY2023RestatedAnnual report

    「As a result, operating expenses for the fiscal year consisted of ¥297,895 thousand in R&D expenses, primarily for TMS-008 development, and ¥222,254 thousand in other selling, general and administrative expenses, totaling ¥520,149 thousand. Accordingly, the operating loss was ¥520,149 thousand, the ordinary loss was ¥861,471 thousand and the net loss was ¥860,925 thousand.」

    No operating revenue was recorded, and advance recognition of R&D expenses, including for TMS-008, resulted in an operating loss of ¥520,149 thousand and a net loss of ¥860,925 thousand.
  10. FY2023-Q3First statedAnnual report

    「As a result, the operating loss was ¥412,616 thousand, the ordinary loss was ¥753,942 thousand, mainly because ¥328,186 thousand in costs related to the stock listing was recorded as a non-operating expense, and the quarterly net loss was ¥753,159 thousand.」

    The Company recorded operating and quarterly net losses because operating expenses, including R&D expenses, were incurred ahead of revenue.
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Losses Resulting from R&D Investment Ahead of Revenue | TMS Co.,Ltd. (4891) | Komori