Failure to meet plans for acquired businesses and investment recovery risk
First written in FY2016. 5 of 8 entries say "Restated". Latest entry: FY2025.
The whole theme swung hardest in 2018: 13 of 79 companies on the "Worse" side.
98 other companies' latest entry also says "Restated".
- FY2025RestatedAnnual report
「In M&A transactions, the Group establishes standard targets for the measures to be implemented and the timing for achieving them in order to facilitate post-merger integration (PMI) and maximize integration synergies.」
The establishment of standard PMI measures and achievement timelines in response to the risks of failing to meet M&A plans and recovering investments has continued. - FY2024RestatedAnnual report
「In M&A transactions, the Group establishes standard targets for the measures to be implemented and the timing for achieving them in order to facilitate post-merger integration (PMI) and maximize integration synergies.」
PMI measures to standardize post-M&A integration activities and achievement timelines have continued. - FY2023MitigatedAnnual report
「In addition, to facilitate post-merger integration and maximize integration synergies, the Group has established standard targets for the measures to be implemented in post-merger integration and the timing for achieving them.」
As a response to M&A risks, the policy of establishing standard post-merger integration measures and timelines has continued, and PMI activities were conducted at a U.S. subsidiary acquired in February 2023. - FY2021MitigatedAnnual report
「In addition, to facilitate post-merger integration and maximize integration synergies, the Group has established standard targets for the measures to be implemented in post-merger integration and the timing for achieving them.」
As a response to the risks of failing to meet post-M&A plans and recovering investments, standard targets have been established under PMI for the measures to be implemented and the timing for achieving them. - FY2020RestatedAnnual report
「However, despite preliminary investigation and consideration, significant changes in the market or competitive environment after an acquisition, the inability to develop an acquired business as planned and recover invested funds, or the incurrence of additional costs could have a significant impact on the Group's results, growth and business development.」
The risks associated with post-M&A market changes, failure to meet plans, investment recovery and additional costs have continued. - FY2019RestatedAnnual report
「However, despite preliminary investigation and consideration, significant changes in the market or competitive environment after an acquisition, the inability to develop an acquired business as planned and recover invested funds, or the incurrence of additional costs could have a significant impact on the Group's results, growth and business development.」
The risks of failing to meet M&A plans, recovering investments and incurring additional costs continued to be disclosed. - FY2018RestatedAnnual report
「However, if preliminary investigation or consideration is insufficient or overlooks important matters, if the market or competitive environment changes significantly after an acquisition, if an acquired business cannot be developed as planned, resulting in the inability to recover invested funds, or if additional costs are incurred, this could have a significant impact on the Group's results, growth outlook and business development.」
The risks of failing to meet M&A plans, recovering investments and incurring additional costs have been reaffirmed, together with the policy of continuing acquisitions. - FY2016First statedAnnual report
「However, significant changes in the market or competitive environment, an acquired business's failure to develop as planned, inability to recover the funds invested or incurrence of additional costs may have a material impact on the group's business performance, growth outlook and business development.」
While using M&A as a means of accelerating growth, the Group identifies post-acquisition development, investment recovery and additional costs as risks.