Risk of Declining Advertising Effectiveness and Rising Advertising Costs
First written in FY2024. 1 of 2 entries say "Restated". Latest entry: FY2025.
The whole theme swung hardest in 2018: 5 of 18 companies on the "Worse" side.
27 other companies' latest entry also says "Restated".
- FY2025RestatedAnnual report
「We consider cost-effectiveness in selecting advertising methods, media, implementation methods and timing, deploy advertising expenses efficiently and seek to maximize advertising effectiveness. However, a significant decline in advertising effectiveness or an increase in advertising costs could affect the acquisition of new members.」
The company continues efficient advertising investment centered on web advertising while recognizing the risks of lower effectiveness and higher costs. - FY2024First statedAnnual report
「A significant decline in advertising effectiveness or an increase in advertising costs could affect the acquisition of new members and, through the resulting expense burden, our financial position and operating results.」
The company explicitly identifies lower effectiveness and higher costs as risks in acquiring new members, primarily through web advertising.