Slower advertising-market growth and economic-cycle risk
First written in FY2022. 8 of 9 entries say "Restated". Latest entry: FY2026-H1.
The whole theme swung hardest in 2020: 7 of 17 companies on the "Worse" side.
19 other companies' latest entry also says "Restated".
- FY2026-H1RestatedAnnual report
「The economic outlook remains uncertain due to the effects of overseas monetary policy and geopolitical risks, as well as volatility in financial and capital markets.」
Although the company presents a positive outlook for advertising-market growth, it continues to disclose uncertainty from overseas monetary policy, geopolitical risks and financial and capital-market volatility. - 2026-05-15RestatedEarnings
「The economic outlook remains uncertain due to the effects of overseas monetary policy and geopolitical risks, as well as volatility in financial and capital markets.」
The company reiterated economic uncertainty arising from overseas monetary policy, geopolitical risks and volatility in financial capital markets. - FY2025RestatedAnnual report
「The economic outlook remains uncertain due to the effects of overseas monetary policy and geopolitical risks, as well as volatility in financial and capital markets.」
Despite a record high in 2025 internet advertising spending, the company continues to identify economic cycles, geopolitical risks, overseas monetary policy and financial and capital-market volatility as sources of uncertainty. - FY2025-H1RestatedAnnual report
「The economic outlook remains uncertain due to the effects of overseas monetary policy, supply-side constraints and volatility in financial and capital markets.」
The company says the economic outlook remains uncertain due to overseas monetary policy, supply constraints and financial and capital-market volatility. - FY2024RestatedAnnual report
「The economic outlook remains uncertain due to the effects of overseas monetary policy, supply-side constraints and volatility in financial and capital markets.」
The company reiterates the risks from impeded advertising-market growth, economic cycles and weaker customer investment and says the economic outlook remains uncertain. - FY2024-H1RestatedAnnual report
「The economic outlook remains uncertain due to the effects of overseas monetary policy, supply-side constraints and volatility in financial and capital markets.」
The company says the economic outlook remains uncertain because of overseas monetary policy, supply constraints and financial and capital-market volatility. - FY2023RestatedAnnual report
「Although we expect the market to remain firm, if conditions arise that impede market growth, or if changes in domestic macroeconomic trends or the business environment in major domestic industries affect advertising spending, our operating results and financial position could be affected.」
The company reiterates the risk that impeded market growth, economic cycles and weaker client sales and marketing investment could affect results and financial position. - FY2023-Q3RestatedAnnual report
「The economic outlook remains uncertain due to the effects of overseas monetary policy, rising prices, supply-side constraints and volatility in financial and capital markets.」
The company says the economic outlook remains uncertain because of overseas monetary policy, inflation, supply constraints and financial and capital-market volatility. - FY2022First statedAnnual report
「Internet advertising spending reached ¥3.0912 trillion in 2022, or 114.3% of the prior year, increasing by approximately ¥1 trillion in just 3 years from 2019, when it exceeded ¥2 trillion. Although we expect the market to remain firm, if conditions arise that impede market growth, or if changes in domestic macroeconomic trends or the business environment in major domestic industries affect advertising spending, which tends to fluctuate with economic cycles, our operating results and financial position could be affected.」
The company warns that impediments to advertising-market growth or lower advertiser spending due to economic cycles could affect operating results and financial position.