Risk of Policy and Regulatory Changes by Platform Operators
First written in FY2020. 10 of 12 entries say "Materialised", first in FY2022-Q1. Latest entry: FY2026.
ALiNK Internet moved to the "Worse" side of this theme in 2021, 5 years before the typical company in this theme (2026).
The whole theme swung hardest in 2025: 10 of 27 companies on the "Worse" side.
7 other companies' latest entry also says "Materialised".
- FY2026MaterialisedAnnual report
「Due to the rise of AI search and the impact of weather data displayed independently by search engines and browsers, traffic from search engines declined, resulting in 5.3 billion page views, or 88.5% of the previous fiscal year.」
The company described actual results showing that changes in the platform environment, including search engines and browsers, led to declines in search traffic and page views. - 2026-05-01MaterialisedGeneral Meetings of Shareholders
「Although search rankings on major search engines reached their highest level in the past 24 months, PVs declined to 5.3 billion, or 88.5% of the previous fiscal year, because of a decrease in precipitation—the five major cities recorded a substantial decline from the previous fiscal year—as well as the rise of AI search and the impact of weather-data displays unique to search engines and browsers, which reduced traffic from search engines.」
The company describes the actual impact of risks related to changes in search-engine and browser policies and display environments, namely reduced search traffic due to AI search and other factors. - FY2026-H1MaterialisedAnnual report
「Due to lower search rankings on major search engines, page views were 2.8 billion, or 80.7% of the prior-year period.」
The company described actual results showing that lower rankings on search engines led to a decline in page views. - FY2023RestatedAnnual report
「Accordingly, if the business policies of platform operators, including Apple Inc. and Google LLC, which provide web search engines and apps, change or new regulations are introduced, this may affect our financial position and operating results.」
The risk of impacts from changes in the policies of search engine and app operators and related regulations is reiterated. - FY2023-Q3MaterialisedAnnual report
「As the importance of privacy protection has grown and advertising rates have remained weak due to the impact of cookie restrictions and other factors, the Company continued to support rates by strengthening business alliances with advertising companies, but advertising rates declined slightly.」
The company describes actual results in which advertising rates declined slightly despite stronger business alliances, as weak advertising rates due to Cookie restrictions and other factors continued. - FY2023-Q2MaterialisedAnnual report
「As the importance of privacy protection has grown and advertising rates have remained weak due to the impact of cookie restrictions and other factors, the Company’s advertising rates increased year on year, supported in part by stronger business alliances with advertising companies.」
Weak advertising rates due to the impact of Cookie restrictions and other factors continued to be described as an actual business-environment factor. However, the quarter was up year on year, supported by stronger business alliances. - FY2023-Q1MaterialisedAnnual report
「The business environment in the advertising network industry in which the Company operates includes the continued uncertainty surrounding the end of the COVID-19 pandemic and weakness in advertising rates resulting from the impact of cookie restrictions and other factors amid the growing importance of privacy protection.」
Weak advertising rates due to Cookie restrictions implemented for privacy protection continue to be described as an actual business-environment factor. - FY2022MaterialisedAnnual report
「In addition to continued restraint in advertising placements resulting from the impact of COVID-19, advertising rates remained weak due to Cookie restrictions implemented from the perspective of privacy protection, although signs that advertising rates had bottomed out had also begun to emerge around the third quarter.」
The annual results analysis also confirmed that Cookie restrictions had actually affected business performance through weak advertising rates, while referring to signs that advertising rates had bottomed out. - FY2022-Q3MaterialisedAnnual report
「During the cumulative third quarter period, on the revenue front, advertising rates remained weak, as in the previous fiscal year, due to continued restraint in advertising placements resulting from the impact of COVID-19, as well as Cookie restrictions implemented from the perspective of privacy protection. However, signs that advertising rates had bottomed out were also beginning to emerge.」
While weak advertising rates due to Cookie restrictions continued to occur in practice, the company also referred to signs that advertising rates had bottomed out. - FY2022-Q2MaterialisedAnnual report
「During the cumulative second quarter period, advertising rates remained weak, as in the previous fiscal year, due to continued restraint in advertising placements resulting from the impact of COVID-19, as well as Cookie restrictions implemented from the perspective of privacy protection.」
It was stated that Cookie restrictions introduced for privacy protection actually led to weak advertising rates. - FY2022-Q1MaterialisedAnnual report
「Advertising rates declined due in part to the impact of Apple’s restrictions on the use of device-specific identifiers (IDFA).」
An actual change in platform operators’ specifications occurred, and its impact in the form of lower advertising rates was described. - FY2020First statedAnnual report
「If the business policies of platform operators, including Apple Inc. and Google LLC, which provide web search engines and apps, change or new regulations are introduced, this may affect our financial position and operating results.」
Changes in the policies of search engine and app operators and related regulations were disclosed as advertising and user-acquisition risks.