Material uncertainty related to the going-concern assumption
First written in FY2024. 3 of 7 entries say "Mitigated", first in FY2025. Latest entry: 2026-08-14.
The whole theme swung hardest in 2020: 30 of 71 companies on the "Worse" side.
41 other companies' latest entry also says "Restated".
- 2026-08-14RestatedEarnings
「Based on the foregoing, although circumstances exist that could raise significant doubt about the going-concern assumption, we have determined that no material uncertainty exists.」
The company reconfirmed that, while significant doubt exists regarding the going-concern assumption, no material uncertainty regarding liquidity exists. - FY2026MitigatedAnnual report
「Based on the foregoing, although circumstances exist that could raise significant doubt about the going-concern assumption, we have determined that no material uncertainty exists.」
Although the equity ratio is low at 13.8%, the assessment that no significant uncertainty exists remained unchanged, supported by a return to profitability, compliance with financial covenants, an agreement among creditors, additional funding facilities, and financing through share acquisition rights. - 2026-05-14MitigatedRevision of earnings forecasts
「Based on the foregoing, although circumstances exist that could raise significant doubt about the going-concern assumption, we have determined that no material uncertainty exists.」
The company indicated that circumstances giving rise to significant doubt about the going-concern assumption remain, but that no material uncertainty exists. - FY2026-H1WorsenedAnnual report
「The Company recognizes that circumstances exist that raise significant doubt about the going concern assumption, as it recorded an interim net loss attributable to owners of the parent and its equity ratio remains low at 5.5%.」
Amid continuing significant doubt, the equity ratio declined from 6.4% to 5.5%, and an interim net loss was recorded. Meanwhile, the assessment that no significant uncertainty exists regarding liquidity remains unchanged. - FY2025MitigatedAnnual report
「Based on the foregoing, although circumstances exist that could raise significant doubt about the going-concern assumption, we have determined that no material uncertainty exists.」
The Company's assessment changed to one that no material uncertainty exists, based on an equity ratio of 10.2%, a third-party allotment, an intercreditor agreement, and a ¥5.0 billion loan commitment agreement. However, the circumstances themselves that raise significant doubt about the going concern assumption remain. - FY2025-H1RestatedAnnual report
「However, the equity ratio remains low at 6.4%, and, as announced by the Group on 13 May 2024, it is in the process of formulating a business rehabilitation plan. In addition, the Group requires continued support from its lending financial institutions for funding. Accordingly, the Group recognizes that circumstances raising significant doubt about the going concern assumption continue to exist.」
Although net assets recovered due to interim profit, the equity ratio remained at 6.4%. Significant doubt continues because the business rehabilitation plan is still being formulated and support from financial institutions is required. - FY2024MaterialisedAnnual report
「As the Group recorded a substantial net loss attributable to owners of the parent for the consolidated fiscal year, circumstances exist that raise significant doubt about the going concern assumption.」
Against a net loss attributable to owners of the parent of ¥46,452 million and consolidated net assets of ¥2,705 million, the Company for the first time explicitly stated that significant doubt and material uncertainty existed regarding the going concern assumption. The effects of the business rehabilitation plan and support from financial institutions were described as uncertain.