Risk of failing to achieve the Structural Reform Stage 2 plan
First written in FY2016. 2 of 5 entries say "Restated". Latest entry: FY2020.
Mazda Motor moved to the "Worse" side of this theme in 2019.
1 other company's latest entry also says "Worsened".
- FY2020WorsenedAnnual report
「While maintaining the Medium-Term Management Policy, the Group will maximize efficiency in every area and review the scale and timing of initiatives and targets under the medium-term management plan.」
In response to the deterioration in the business environment caused by COVID-19, the Group explicitly stated that it may review the scale and timing of initiatives and targets under the medium-term management plan. - FY2020-Q3RestatedAnnual report
「These statements may differ from actual results and do not guarantee their achievement.」
The plan's cautionary language reiterates that actual results may differ if initiatives under the medium-term management plan do not progress as planned, among other circumstances. - FY2019ReframedAnnual report
「In May of this year, the Group outlined the desired state of the Mazda brand for 2030–2040 and announced its Medium-Term Management Policy (fiscal year ending March 2020 to fiscal year ending March 2025), which sets out its management policies and the direction of its initiatives during the six-year medium-term management period beginning in the fiscal year ending March 2020. In implementing these initiatives, the Group may be adversely affected in its operating results and financial position if expected benefits are not realized because of environmental changes that differ substantially from expectations or delays in implementation, among other factors.」
The scope of the risk of falling short of the plan shifted from Stage 2 of the structural reforms to the new Medium-Term Management Policy for the fiscal years ending March 2020 through March 2025. - FY2017RestatedAnnual report
「However, in executing the plan, the Group may be adversely affected in its operating results and financial position if expected benefits are not realized because of environmental changes that differ substantially from expectations or delays in implementation, among other factors.」
For Stage 2 of the structural reforms, the filing continues to describe the risk that benefits may not be realized because of unexpected environmental changes or failure to meet the plan. - FY2016First statedAnnual report
「In executing the plan, the Group may be adversely affected in its operating results and financial position if expected benefits are not realized because of environmental changes that differ substantially from expectations or delays in implementation, among other factors.」
For Stage 2 of the structural reforms, the filing explicitly identifies the risk that benefits may not be realized because of environmental changes or implementation delays.