Uncertainty Regarding the Market Size and Speed of Commercialization of New Businesses
First written in FY2017. 2 of 6 entries say "Restated". Latest entry: FY2023.
The whole theme swung hardest in 2025: 15 of 49 companies on the "Worse" side.
68 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「However, if the markets in which our Group seeks to establish these new businesses are smaller than expected, or if commercialization progresses at an extremely slow pace, we may be unable to recover the capital invested, which could have a material impact on our Group's results of operations. Furthermore, entering new business areas and new markets may entail additional risks specific to those businesses and markets.」
The document continues to describe the market size and speed of commercialization of new businesses, the recovery of invested capital, and risks specific to new markets. - FY2022RestatedAnnual report
「However, if the markets in which our Group seeks to establish these new businesses are smaller than expected, or if commercialization progresses at an extremely slow pace, we may be unable to recover the capital invested, which could have a material impact on our Group's results of operations. Furthermore, entering new business areas and new markets may entail additional risks specific to those businesses and markets.」
The document continues to describe the market size and speed of commercialization of new businesses, the recovery of invested capital, and risks specific to new markets. - FY2020Additional disclosure of risks specific to new marketsAnnual report
「Furthermore, entering new business areas and new markets may entail additional risks specific to those businesses and markets.」
In addition to the existing risks relating to the market size and speed of commercialization of new businesses, the document states that risks specific to new markets may also be added. - FY2019Expansion of the target areas for new businessesAnnual report
「In addition to graphics LSIs for the embedded equipment market, including medical and industrial equipment, we are currently focusing on efforts to commercialize businesses in four areas: middleware, machine learning, blockchain and security. However, if the markets in which we seek to establish these new businesses are smaller than expected, or if commercialization progresses at an extremely slow pace, we may be unable to recover the capital invested, which could have a material impact on our results of operations.」
The scope of the risks associated with new businesses has expanded to four areas, and the possibility that invested capital may not be recovered continues to be explicitly stated. - FY2018WorsenedAnnual report
「In addition, at a meeting of the Board of Directors held on 25 April 2018, we resolved to enter the blockchain business as a new business. However, if the markets in which we seek to establish these new businesses are smaller than expected, or if commercialization progresses at an extremely slow pace, we may be unable to recover the capital invested, which could have a material impact on our results of operations.」
The decision to enter the blockchain business has been added to the risks associated with new businesses, broadening the scope of the new business areas. - FY2017First statedAnnual report
「However, if the markets in which we seek to establish these new businesses are smaller than expected, or if commercialization progresses at an extremely slow pace, this may have a material impact on our results of operations.」
For new businesses involving embedded equipment, software IP and middleware, the document identifies for the first time the small market size and delays in commercialization as separate risks.