Risk of the Introduction of Regulations, Licensing and Registration Requirements for the M&A Brokerage Business
First written in FY2016. 7 of 14 entries say "Restated". Latest entry: FY2026-H1.
The whole theme swung hardest in 2025: 3 of 8 companies on the "Worse" side.
2 other companies' latest entry also says "Other".
- FY2026-H1Implementation of the system and establishment of industry standardsAnnual report
「The “Guidelines for M&A for Small and Medium Enterprises (Third Edition)” and the “Mission, Code of Ethics and Conduct, and Knowledge and Skills Map for Individual M&A Professionals Serving Small and Medium Enterprises,” published by the Small and Medium Enterprise Agency, strongly require intermediary firms and others to possess multifaceted knowledge, comprehensive skills and high professional ethics. As the guidelines have also been applied to all businesses registered under the M&A Support Institution Registration System, they are becoming established as industry standards」
The company indicates that applying the guidelines to all businesses registered under the M&A Support Institution Registration System, together with requirements concerning knowledge, skills and professional ethics, is becoming established as an industry standard. - FY2025WorsenedAnnual report
「On 30 August 2024, the Small and Medium Enterprise Agency published the “Guidelines for M&A for Small and Medium Enterprises (Third Edition)” and, in April 2025, the “Mission, Code of Ethics and Conduct, and Knowledge and Skills Map for Individual M&A Professionals Serving Small and Medium Enterprises,” strongly requiring intermediary firms and others to possess multifaceted knowledge, comprehensive skills and high professional ethics」
In addition to the third-edition guidelines, the mission, code of ethics and conduct, and knowledge and skills map for professionals were published, expanding the institutional and professional-ethics requirements for intermediary businesses. - FY2025-H1WorsenedAnnual report
「On 30 August 2024, the Small and Medium Enterprise Agency published the “Guidelines for M&A for Small and Medium Enterprises (Third Edition),” strongly requiring intermediary firms and others to possess multifaceted knowledge, comprehensive skills and high professional ethics. From January 2025, the guidelines have applied to all businesses registered under the M&A Support Institution Registration System.」
In addition to the existing registration system, the third-edition guidelines were published and applied to all registered businesses from January 2025. Institutional requirements concerning the knowledge, skills and professional ethics expected of M&A intermediary firms are becoming more stringent. - FY2022RestatedAnnual report
「The M&A intermediary and advisory businesses conducted by our group operate in an industry structure that is highly susceptible to the effects of laws such as the Companies Act and various tax laws.」
The company has reaffirmed that the M&A intermediary and advisory businesses are highly susceptible to the effects of the Companies Act and tax laws, and states that it will monitor developments in the legal framework. - FY2022-Q3RestatedAnnual report
「Public-private cooperation has also been strengthened. The Small and Medium Enterprise Agency formulated the “SME M&A Promotion Plan” in April 2021 and launched the M&A Support Institution Registration System in August 2021, under which numerous private-sector intermediary businesses have been registered.」
The company continues to describe the situation in which the M&A Support Institution Registration System has been launched and numerous private-sector intermediary businesses are registered. - FY2022-Q2RestatedAnnual report
「Public-private cooperation has also been strengthened. The Small and Medium Enterprise Agency formulated the “SME M&A Promotion Plan” in April 2021 and launched the M&A Support Institution Registration System in August 2021, under which numerous private-sector intermediary businesses have been registered.」
The company continues to describe the implementation of the regulatory and registration system, stating that the M&A Support Institution Registration System has been launched and that numerous private-sector intermediary businesses are registered. - FY2022-Q1MaterialisedAnnual report
「The Small and Medium Enterprise Agency formulated the “SME M&A Promotion Plan” in April 2021 and launched the M&A Support Institution Registration System in August 2021, under which numerous private-sector intermediary businesses have been registered.」
The filing states that the M&A Support Institution Registration System, which had previously been disclosed as a risk among registration requirements and the like, has actually been launched. However, this filing does not state that the system has affected performance. - FY2020RestatedAnnual report
「The M&A intermediary and advisory businesses conducted by our group operate in an industry structure that is highly susceptible to the effects of laws such as the Companies Act and various tax laws.」
The company has reaffirmed that the M&A intermediary and advisory businesses are highly susceptible to the effects of laws and regulations and that amendments to laws and other changes may affect performance. - FY2019RestatedAnnual report
「The M&A intermediary and advisory businesses conducted by our group operate in an industry structure that is highly susceptible to the effects of laws such as the Companies Act and various tax laws.」
The company continues to identify as a risk the fact that the M&A intermediary and advisory businesses operate in a structure that is highly susceptible to the effects of laws and regulations. - FY2018RestatedAnnual report
「At present, the M&A intermediary and advisory businesses are not subject to licensing or other restrictions, but if new regulations for the industry, such as licensing or registration requirements imposed by the national or local governments, are introduced in the future, they may affect our group’s performance.」
The company continues to disclose the risk that licensing, registration and other requirements may be introduced for the M&A intermediary and advisory businesses. - FY2017RestatedAnnual report
「If new regulations for the industry, such as licensing or registration requirements imposed by the national or local governments, are introduced in the future, they may affect our group’s performance.」
The company reiterates the risk that licensing, registration and other requirements may be introduced for the M&A intermediary and advisory businesses. - FY2016First statedAnnual report
「If new regulations for the industry, such as licensing or registration requirements imposed by the national or local governments, are introduced in the future, they may affect the company’s performance.」
Although no licensing requirements currently apply, the company discloses the possible future introduction of licensing, registration and other requirements as a risk.