Risk that the benefits of the business integration will not be fully realized
First written in FY2022-Q3. 3 of 4 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2017: 1 of 10 companies on the "Worse" side.
7 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「In addition to continued changes in the internal environment following Sumitomo Mitsui Construction Co., Ltd.'s entry into the Group, the external environment has also changed significantly due to the escalating situation in the Middle East and other factors. We will therefore work to manage risks while paying close attention to these developments.」
The company continues to manage integration-related risks in light of changes in the internal environment following Sumitomo Mitsui Construction Co., Ltd.'s entry into the Group. - FY2026-H1RestatedAnnual report
「As the internal environment has changed following Sumitomo Mitsui Construction Co., Ltd.'s entry into the Group, we will work to manage risks while paying close attention to these changes.」
While stating that there have been no material changes in business and other risks, the company continues to manage integration-related risks in light of changes in the internal environment following Sumitomo Mitsui Construction Co., Ltd.'s entry into the Group. - FY2023RestatedAnnual report
「Factors that could prevent the full realization of the benefits of the acquisition include cases in which the synergies expected from the M&A are not fully realized, rationalization and other measures take time due to differences in organizational structures, and goodwill impairment losses due to lower-than-expected profitability or unforeseen additional costs arise from the development and integration of management infrastructure associated with the M&A.」
The company continues to identify insufficient integration benefits, organizational differences, management infrastructure integration costs, and goodwill impairment as risks associated with M&A. - FY2022-Q3First statedAnnual report
「If the integration benefits initially expected cannot be fully realized, this may have a material adverse effect on the Group's financial position and results of operations.」
The company identifies insufficient synergies, differences in organizational structures, and additional costs associated with integrating management infrastructure as integration risks.