Uncertainty Regarding Post-Acquisition Integration, Due Diligence and Realization of Synergies
First written in FY2016. 10 of 13 entries say "Restated". Latest entry: FY2022.
Recruit Holdings moved to the "Worse" side of this theme in 2022, 1 year before the typical company in this theme (2023).
The whole theme swung hardest in 2025: 9 of 30 companies on the "Worse" side.
1 other company's latest entry also says "Worsened".
- FY2022WorsenedAnnual report
「In the Group's HR Technology business, acquisitions of and investments in relatively young companies that have not yet generated profits are expected to increase for the purpose of acquiring innovative technologies and personnel. These acquisitions and investments may entail greater exposure to each of the risks described above.」
The risks associated with post-acquisition integration, due diligence and the realization of synergies were reconfirmed as potentially increasing as acquisitions of and investments in young, pre-revenue technology companies increase. - FY2020-Q2WorsenedAnnual report
「In the Group's HR Technology business, acquisitions of and investments in relatively young companies that have not yet generated profits are expected to increase for the purpose of acquiring innovative technologies and personnel. These acquisitions and investments may entail greater exposure to each of the risks described above.」
The disclosure expressly states that the risks associated with post-acquisition integration, due diligence and the realization of synergies may increase as acquisitions of and investments in young, unprofitable technology companies increase. - FY2020-Q1RestatedAnnual report
「During the first quarter, there were no material changes in matters described in the quarterly report concerning the business and financial condition that could materially affect investors’ decisions, nor in the risks described under “Business and Other Risks” in the securities report for the previous fiscal year.」
The disclosure states that there have been no material changes regarding uncertainty over post-acquisition integration, due diligence and the realization of synergies. - FY2019RestatedAnnual report
「When making acquisitions or investments, the Group may be unable to conduct sufficient due diligence depending on the nature of the transaction or other factors, and contingent liabilities or other matters may be discovered after the acquisition.」
Uncertainty over post-acquisition integration, due diligence, differences in policy with joint venture partners and failure to achieve synergies is disclosed again. - FY2019-Q3RestatedAnnual report
「During the nine months ended the third quarter, there were no material changes in matters described in the quarterly report concerning the business and financial condition that could materially affect investors’ decisions, nor in the risks described under “Business and Other Risks” in the securities report for the previous fiscal year.」
The disclosure states that there have been no material changes regarding uncertainty over post-acquisition integration, due diligence and the realization of synergies. - FY2018-Q3RestatedAnnual report
「During the nine months ended the third quarter, there were no material changes in matters described in the quarterly report concerning the business and financial condition that could materially affect investors’ decisions, nor in the risks described under “Business and Other Risks” in the securities report for the previous fiscal year.」
The disclosure states that there have been no material changes regarding uncertainty over post-acquisition integration, due diligence and the realization of synergies. - FY2018-Q2RestatedAnnual report
「During the six months ended the second quarter, there were no material changes in matters described in the quarterly report concerning the business and financial condition that could materially affect investors’ decisions, nor in the risks described under “Business and Other Risks” in the securities report for the previous fiscal year.」
The disclosure states that there have been no material changes regarding uncertainty over post-acquisition integration, due diligence and the realization of synergies. - FY2018-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
The disclosure states that there have been no material changes regarding uncertainty over post-acquisition integration, due diligence and the realization of synergies. - FY2017RestatedAnnual report
「When making acquisitions or investments, the Group may be unable to conduct sufficient due diligence depending on the nature of the transaction or other factors, and contingent liabilities or other matters may be discovered after the acquisition.」
Uncertainty over post-acquisition integration, due diligence, differences in policy with joint venture partners and failure to achieve synergies is disclosed again. - FY2017-Q3RestatedAnnual report
「When making acquisitions or investments, the Group may be unable to conduct sufficient due diligence depending on the nature of the transaction or other factors, and contingent liabilities or other matters may be discovered after the acquisition.」
Uncertainty over post-acquisition integration, due diligence, differences in policy with joint venture partners and failure to achieve synergies continues to be disclosed. - FY2017-Q2RestatedAnnual report
「When making acquisitions or investments, the Group may be unable to conduct sufficient due diligence depending on the nature of the transaction or other factors, and contingent liabilities or other matters may be discovered after the acquisition.」
Uncertainty over post-acquisition integration, due diligence and the realization of synergies continues to be disclosed. - FY2017-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
The disclosure states that there have been no material changes regarding uncertainty over post-acquisition integration, due diligence and the realization of synergies. - FY2016First statedAnnual report
「When making acquisitions or investments, the Group may be unable to conduct sufficient due diligence depending on the nature of the transaction or other factors, and contingent liabilities or other matters may be discovered after the acquisition.」
This includes post-acquisition business and technology integration, securing personnel, differences in policy with alliance partners and failure to achieve expected synergies.