Risk of Contingent Liabilities and Unmaterialised Synergies Following M&A
First written in FY2016. 2 of 3 entries say "Restated". Latest entry: FY2021.
The whole theme swung hardest in 2025: 10 of 32 companies on the "Worse" side.
37 other companies' latest entry also says "Restated".
- FY2021RestatedAnnual report
「However, contingent liabilities or unrecognized liabilities may come to light after an M&A transaction. In addition, the acquired company may fail to achieve the results initially expected due to changes in the external environment and other factors.」
The company reiterates the possibility of contingent liabilities, unrecognized liabilities and unrealized synergies after an M&A transaction. - FY2017RestatedAnnual report
「However, contingent liabilities or unrecognized liabilities may come to light after an M&A transaction. In addition, the acquired company may fail to achieve the results initially expected due to changes in the external environment and other factors.」
While conducting due diligence, the company reiterates the risks of contingent liabilities, unrecognized liabilities and unrealized synergies after an acquisition. - FY2016First statedAnnual report
「Contingent liabilities or unrecognized liabilities may come to light after an M&A transaction. In addition, the acquired company may fail to achieve the results initially expected due to changes in the external environment and other factors.」
While seeking to mitigate risks through due diligence, the company explicitly identifies the discovery of liabilities after an acquisition and failure to achieve expected results as risks.