Risk of post-M&A integration burden and failure to achieve synergies
First written in FY2016. 5 of 6 entries say "Restated". Latest entry: FY2025.
The whole theme swung hardest in 2025: 9 of 30 companies on the "Worse" side.
36 other companies' latest entry also says "Restated".
- FY2025RestatedAnnual report
「Following an M&A transaction, rapid changes in market conditions, an increased burden from integrating systems and business processes, the loss of customers or personnel, or other unforeseen events may prevent the expected synergies from being achieved, make it impossible to recover the invested funds or result in additional costs.」
The company continues to cite the risks of integration burdens, failure to achieve synergies and inability to recover the investment associated with M&A. - FY2024RestatedAnnual report
「Following an M&A transaction, rapid changes in market conditions, an increased burden from integrating systems and business processes, the loss of customers or personnel, or other unforeseen events may prevent the expected synergies from being achieved, make it impossible to recover the invested funds or result in additional costs.」
The company continues to state its policy of using M&A and the risks of integration burdens, failure to achieve synergies and inability to recover the investment. - FY2021RestatedAnnual report
「Following an M&A transaction, rapid changes in market conditions, an increased burden from integrating systems and business processes, the loss of customers or personnel, or other unforeseen events may prevent the expected synergies from being achieved, make it impossible to recover the invested funds or result in additional costs.」
The company continues to state its policy of pursuing M&A and the risks of integration burdens, failure to achieve synergies and inability to recover the investment. - FY2020RestatedAnnual report
「Following an M&A transaction, rapid changes in market conditions, an increased burden from integrating systems and business processes, the loss of customers or personnel, or other unforeseen events may prevent the expected synergies from being achieved.」
The company continues to state its policy of using M&A and the risks of integration burdens, failure to achieve synergies and inability to recover the investment. - FY2018RestatedAnnual report
「Following an M&A transaction, the company will work to integrate the acquired business into the group promptly and maximize synergies. However, rapid changes in market conditions, an increased burden from integrating systems and business processes, and the loss of customers or personnel may prevent the expected synergies from being achieved.」
The company continues to state its policy of using M&A and the risks of integration burdens, failure to achieve synergies and inability to recover the investment. - FY2016First statedAnnual report
「Following an M&A transaction, rapid changes in market conditions, an increased burden from integrating systems and business processes, the loss of customers or personnel, or other unforeseen events may prevent the expected synergies from being achieved, make it impossible to recover the invested funds or result in additional costs.」
While pursuing strategic alliances and M&A, the company also explicitly identifies the risks related to integration and recovery of the investment.