Improved valuation through better performance and financial condition at unlisted investee companies
First written in FY2023-Q3. 3 of 9 entries say "Restated". Latest entry: 2026-08-12.
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- 2026-08-12OtherEarnings
「Although the financial condition of unlisted portfolio companies generally improved, aggregate fair value declined because of higher interest rates used in fair-value measurement and deterioration in various metrics for comparable listed companies, reducing total investment income.」
The disclosure presented both improvements in portfolio-company financial condition and declines in fair value caused by market valuation metrics, showing the coexistence of valuation improvements and downward pressures. - FY2026-H1Financial improvement coexisted with weaker market metrics, resulting in lower valuationsAnnual report
「Although the financial condition of unlisted portfolio companies generally improved, aggregate fair value declined because of higher interest rates used in fair-value measurement and deterioration in various metrics for comparable listed companies, reducing total investment income.」
Financial condition generally improved, but higher interest rates and weaker comparable-company metrics reduced valuations and aggregate fair value. - 2026-05-11OtherEarnings
「Although the financial condition of unlisted portfolio companies has generally improved, their fair value decreased overall because interest rates used in fair value measurements rose and various metrics for comparable listed companies deteriorated, resulting in a decrease in total investment income.」
The disclosure presented both improvements in financial condition and an overall decline in fair value due to higher interest rates and weaker comparable-company metrics. - FY2025Some earnings adjustments, but higher aggregate valuationAnnual report
「Although some unlisted portfolio companies were in an adjustment phase in terms of recent operating performance, aggregate fair value increased because financial condition generally improved and the valuation method was changed for portfolio companies that had been held for more than one year since their most recent transaction.」
Despite recognizing earnings adjustments at some portfolio companies, improved financial condition and changes in valuation methods caused aggregate fair value to turn upward from the decline in the prior interim period. - FY2025-H1Improvement factors coexisted with an adjustment phase, resulting in lower valuationsAnnual report
「Although the financial condition of unlisted portfolio companies generally improved, some portfolio companies were in an adjustment phase in terms of recent operating performance, and aggregate fair value declined.」
While some portfolio companies improved their financial condition, others were in an earnings adjustment phase, resulting in a decline in aggregate fair value. - FY2024-H1RestatedAnnual report
「The fair value of several unlisted portfolio companies increased, mainly because their operating performance and financial condition improved. As a result, the aggregate fair value of unlisted portfolio companies increased.」
The increase in aggregate fair value due to improved performance and financial condition was reconfirmed. - FY2024-Q1RestatedAnnual report
「The fair value of several unlisted portfolio companies increased, mainly because their operating performance and financial condition improved and because metrics based on the financial data of comparable listed companies used in fair-value measurement increased. As a result, the aggregate fair value of unlisted portfolio companies increased.」
The increase was attributed to improved portfolio-company performance and financial condition and higher metrics for comparable listed companies. - FY2023RestatedAnnual report
「The fair value of several unlisted portfolio companies increased, mainly because operating performance and financial condition improved as restrictions on economic activity related to COVID-19 were eased, and because the fair value of portfolio companies held for more than one year after investment increased. As a result, the aggregate fair value of unlisted portfolio companies increased.」
The annual report reconfirmed the increase in fair value resulting from improved performance and financial condition. - FY2023-Q3First statedAnnual report
「The fair value of several unlisted portfolio companies increased, mainly because their operating performance and financial condition improved and because fair-value measurement began after one year had elapsed since the investment. As a result, the aggregate fair value of unlisted portfolio companies increased.」
The increase in fair value was attributed mainly to improved operating performance and financial condition.