Significant decline in consolidated net sales due to the transfer of a subsidiary and going concern assumption

「Because our group has reported operating losses for 8 consecutive fiscal years since the fiscal year ended March 2019, we recognize that events or conditions exist that raise significant doubt about the going-concern assumption.」

「Because our group has reported operating losses for 8 consecutive fiscal years since the fiscal year ended March 2019, we recognize that events or conditions exist that raise significant doubt about the going-concern assumption.」

「As the group has recorded operating losses for 7 consecutive fiscal years since the fiscal year ending March 2019 and operating losses continued during the interim consolidated accounting period, it recognizes that events or conditions exist that raise substantial doubt about the going concern assumption.」

「As the group has recorded operating losses for 6 consecutive fiscal years since the fiscal year ending March 2019 and operating losses continued during the interim consolidated accounting period, it recognizes that events or conditions exist that raise substantial doubt about the going concern assumption.」

「As the group has recorded operating losses for 6 consecutive fiscal years since the fiscal year ending March 2019, it recognizes that events or conditions exist that raise substantial doubt about the going concern assumption. To resolve these events or conditions at an early stage, the group will work to improve its earnings structure promptly by increasing revenue through stronger sales activities and intensified recruitment and training at the companies in its core system development segment, while reducing costs through measures including the proactive insourcing of contracted development projects.」

「As the group has recorded operating losses for 5 consecutive fiscal years since the fiscal year ending March 2019 and also recorded an operating loss in the nine-month period ended the third quarter of the current consolidated fiscal year, it recognizes that events or conditions exist that raise substantial doubt about the going concern assumption. Under these circumstances, to resolve the event or condition at an early stage, the company is continuing to strengthen the earnings structure of its existing businesses and has acquired all shares of 株式会社ＢＳ ＥＮＥＲＧＹ, which operates an agrivoltaic power generation business, to build a new earnings base through entry into new business areas. It is pursuing the development and monetization of power generation facilities in that business.」

「As of the end of the six-month period ended the second quarter of the current consolidated fiscal year, consolidated operating cash flow remained positive because the companies in the system development segment steadily executed their business plans. The group had also secured operating funds for the foreseeable future, and after reviewing its future liquidity, determined that it had no material liquidity concerns and that no material uncertainty related to the going concern assumption existed.」

「As the group has recorded operating losses for 5 consecutive fiscal years since the fiscal year ending March 2019 and also recorded an operating loss in the three-month period ended the first quarter of the current consolidated fiscal year, it recognizes that events or conditions exist that raise substantial doubt about the going concern assumption.」

「As the group has recorded operating losses for 5 consecutive fiscal years since the fiscal year ending March 2019, it recognizes that events or conditions exist that raise substantial doubt about the going concern assumption.」

「As the group has recorded operating losses for 4 consecutive fiscal years since the fiscal year ending March 2019 and also recorded an operating loss in the nine-month period ended the third quarter of the current consolidated fiscal year, it recognizes that events or conditions exist that raise substantial doubt about the going concern assumption. However, as of the end of that period, the group had secured operating funds for the foreseeable future, and after reviewing its future liquidity, determined that it had no material liquidity concerns and that no material uncertainty related to the going concern assumption existed.」

「As the group has recorded operating losses for 4 consecutive fiscal years since the fiscal year ending March 2019 and also recorded an operating loss in the six-month period ended the second quarter of the current consolidated fiscal year, it recognizes that events or conditions exist that raise substantial doubt about the going concern assumption. However, as of the end of that period, the group had secured operating funds for the foreseeable future, and after reviewing its future liquidity, determined that it had no material liquidity concerns and that no material uncertainty related to the going concern assumption existed.」

「As the group has recorded operating losses for 4 consecutive fiscal years since the fiscal year ending March 2019 and also recorded an operating loss in the three-month period ended the first quarter of the current consolidated fiscal year, it recognizes that events or conditions exist that raise substantial doubt about the going concern assumption. However, as of the end of that period, the group had secured operating funds for the foreseeable future, and after reviewing its future liquidity, determined that it had no material liquidity concerns and that no material uncertainty related to the going concern assumption existed.」

「As the group has recorded operating losses for 4 consecutive fiscal years since the fiscal year ending March 2019, it recognizes that events or conditions exist that raise substantial doubt about the going concern assumption.」

「As the group has recorded operating losses for 3 consecutive fiscal years since the fiscal year ending March 2019 and also recorded an operating loss in the nine-month period ended the third quarter of the current consolidated fiscal year, it recognizes that events or conditions exist that raise substantial doubt about the going concern assumption. However, as of the end of that period, the group had secured operating funds for the foreseeable future, and after reviewing its future liquidity, determined that it had no material liquidity concerns and that no material uncertainty related to the going concern assumption existed.」

「As of the end of the six-month period ended the second quarter of the current consolidated fiscal year, the group had secured operating funds for the foreseeable future through completion of payment for a third-party allotment of new shares and early collection of ¥1,500 million in loan receivables. After reviewing future liquidity, the company determined that there were no material liquidity concerns and that no material uncertainty related to the going concern assumption existed.」

「As the group has recorded operating losses for 3 consecutive fiscal years since the fiscal year ending March 2019 and also recorded an operating loss in the nine-month period ended the first quarter of the current consolidated fiscal year, it recognizes that events or conditions exist that raise substantial doubt about the going concern assumption. However, as of the end of that period, the group had secured sufficient operating funds for the foreseeable future, and after reviewing its future liquidity, determined that it had no material liquidity concerns and that no material uncertainty related to the going concern assumption existed.」

「As the group has recorded operating losses for 3 consecutive fiscal years since the fiscal year ending March 2019, it recognizes that events or conditions exist that raise substantial doubt about the going concern assumption.」

「The group's operating results for the nine-month period ended the third quarter of the current consolidated fiscal year were revenue of ¥1,169 million, down 97.2% year on year,」

「The group's operating results for the six-month period ended the second quarter of the current consolidated fiscal year were revenue of ¥859 million, down 97.1% year on year,」

「Although the group's consolidated revenue for the fiscal year ending March 2021 is expected to decline substantially,」

「Although the group's consolidated revenue for the fiscal year ending March 2021 is expected to decline substantially as a result of these subsidiary share transfers, the company will continue working to strengthen the earnings structure of its existing businesses and build a new earnings base through an active M&A strategy aimed at entering new business areas, thereby securing stable earnings power and enhancing corporate value.」