Failure to Achieve Synergies in M&A and Partnerships
First written in FY2016. 2 of 4 entries say "Materialised", first in 2026-05-12. Latest entry: FY2026.
Sega Sammy Holdings moved to the "Worse" side of this theme in 2026, 4 years after the typical company in this theme (2022).
The whole theme swung hardest in 2025: 9 of 29 companies on the "Worse" side.
8 other companies' latest entry also says "Materialised".
- FY2026MaterialisedAnnual report
「The main components were ¥31,993 million in goodwill and other intangible fixed assets related to Rovio, and ¥18,054 million in goodwill and other tangible fixed assets related to Stakelogic.」
The risks of poor post-M&A performance and failure to achieve synergies materialized as total asset impairment losses of more than ¥50 billion at Rovio and Stakelogic. - 2026-05-12MaterialisedEarnings
「However, in the FY2026/3 financial results, impairment losses on Rovio's goodwill and other intangible assets, and on Stakelogic's goodwill and property, plant and equipment, were recorded as extraordinary losses.」
Risks associated with synergies from M&A and changes in the business environment materialized as impairment losses on assets of acquired businesses. - FY2018RestatedAnnual report
「However, legal regulations beyond the Group’s control, changes in the environment surrounding the Group, or failure to achieve the synergies initially expected could affect the Group’s operating results.」
The risks associated with M&A and partnerships, including legal regulations, changes in the business environment, and failure to achieve synergies, remain. - FY2016First statedAnnual report
「However, legal regulations beyond the Group’s control, changes in the environment surrounding the Group, or failure to achieve the synergies initially expected could affect the Group’s operating results.」
While pursuing M&A and business partnerships, the Group identifies legal regulations, changes in the business environment, and failure to achieve synergies as risks.