M&A and Alliance Feasibility Risk
First written in FY2016. 6 of 8 entries say "Restated". Latest entry: FY2021.
The whole theme swung hardest in 2020: 30 of 88 companies on the "Worse" side.
20 other companies' latest entry also says "Mitigated".
- FY2021MitigatedAnnual report
「In addition, with respect to M&A and alliances planned in various product fields in light of the business environment, the Group is implementing initiatives to facilitate PMI through activities such as initial-stage reviews and monitoring.」
The Group identified initial-stage reviews and monitoring to manage PMI as specific measures addressing the risks that M&A and alliances may fail to materialize and result in impairment. - FY2020RestatedAnnual report
「In addition, the Group engages in M&A and alliances with other companies in various product businesses. However, if these M&A transactions and alliances fail to materialize as planned due to changes in the market environment, declining business competitiveness, revisions to the management strategies of other companies, or other unforeseen events, the Group may record impairment losses and other charges as a result of reassessing the value of its assets.」
While using M&A and alliances as growth drivers, the Group continues to disclose the risks of asset revaluation and impairment resulting from changes in the environment or failure to realize these initiatives. - FY2020-Q3RestatedAnnual report
「The Group seeks to strengthen and expand many of its product businesses through M&A and alliances with other companies. However, if these M&A transactions and alliances fail to materialize as planned due to changes in the market environment, declining business competitiveness, revisions to the management strategies of other companies, or other unforeseen events, they could affect the Group’s business.」
The risk that M&A and alliances may fail to materialize as planned continues to be disclosed. Meanwhile, the arbitration concerning the South African project, which had been cited as a specific example, was suspended following a settlement in December 2019. - FY2019RestatedAnnual report
「The Group seeks to strengthen and expand many of its product businesses through M&A and alliances with other companies. However, if these M&A transactions and alliances fail to materialize as planned due to changes in the market environment, declining business competitiveness, revisions to the management strategies of other companies, or other unforeseen events, they could affect the Group’s business.」
The Group continues to disclose both its use of M&A and alliances as a growth driver and the risk that they may fail to materialize as planned. - FY2018-Q2RestatedAnnual report
「The Group seeks to strengthen and expand many of its product businesses through M&A and alliances with other companies. However, if these M&A transactions and alliances fail to materialize as planned due to changes in the market environment, declining business competitiveness, revisions to the management strategies of other companies, or other unforeseen events, they could affect the Group’s business.」
While using M&A and alliances to strengthen and expand its businesses, the Group continues to disclose the risk of an impact on its business if they fail to materialize as planned. - FY2018-Q1RestatedAnnual report
「The Group seeks to strengthen and expand many of its product businesses through M&A and alliances with other companies. However, if these M&A transactions and alliances fail to materialize as planned due to changes in the market environment, declining business competitiveness, revisions to the management strategies of other companies, or other unforeseen events, they could affect the Group’s business.」
The Group reiterates the risk that M&A and alliances may fail to materialize as planned and cites its arbitration filing against Hitachi concerning the South African thermal power project as a specific example. - FY2017RestatedAnnual report
「The Group seeks to strengthen and expand many of its product businesses through M&A and alliances with other companies. However, if these M&A transactions and alliances fail to materialize as planned due to changes in the market environment, declining business competitiveness, revisions to the management strategies of other companies, or other unforeseen events, they could affect the Group’s business.」
While using M&A and alliances as growth drivers, the Group continues to disclose the risk that they may fail to materialize as planned. - FY2016First statedAnnual report
「The Group seeks to strengthen and expand many of its product businesses through M&A and alliances with other companies. However, if these M&A transactions and alliances fail to materialize as planned due to changes in the market environment, declining business competitiveness, revisions to the management strategies of other companies, or other unforeseen events, they could affect the Group’s business.」
While using M&A and alliances as growth drivers, the Group discloses the potential business impact if they fail to materialize as planned as a risk.