Limited Operating History and Changes in Core Services
First written in FY2023. 1 of 2 entries say "Worsened", first in FY2024. Latest entry: FY2024.
Elements moved to the "Worse" side of this theme in 2025.
The whole theme swung hardest in 2025: 1 of 7 companies on the "Worse" side.
0 other companies' latest entry also says "Worsened".
- FY2024WorsenedAnnual report
「In addition, as the business has undergone changes in the past, including the discontinuation of the biometric payments business, further changes in the core services may affect our group's business, financial position and operating results.」
In addition to its short operating history, the possibility of changes in its core services, in light of the past discontinuation of the biometric payments business, has been explicitly identified as a risk. - FY2023First statedAnnual report
「Our group was established in December 2013 and has a short operating history. In addition, our core service, LIQUID eKYC, was launched in July 2019 and also has a short operating history. Accordingly, past results and financial position alone may be insufficient to assess our group's future business results and growth potential.」
A new risk has been identified: because the company was established only recently and its core service was launched only recently, it is difficult to assess future business results and growth potential based solely on past performance.