Success or Failure of Business Partnerships and Alliances with Other Companies
First written in FY2017. 1 of 5 entries say "Worsened", first in FY2022. Latest entry: FY2026.
The whole theme swung hardest in 2026: 5 of 16 companies on the "Worse" side.
2 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「When entering into business alliances or conducting M&A with other companies, we carefully assess the business and financial conditions of investee and alliance companies through due diligence and other procedures, and take measures to minimize risks. After executing M&A transactions, we establish a PMI (post-merger integration) structure, strengthen governance by developing common group-wide operating rules and fostering a common corporate culture, and regularly check for divergences between the original plans and actual results.」
Its response to M&A and alliance risks includes due diligence, PMI, common operating rules and regular checks for divergence from expected results. - FY2023RestatedAnnual report
「In accordance with the medium-term management plan NF2023, our group is actively pursuing bold M&A transactions and business alliances to enter new materials, new markets and new businesses. We review matters from various perspectives through internal approval processes, including the Board of Directors and the Executive Committee, and work to mitigate risks. However, circumstances not initially anticipated could cause financial or other business problems at investee or alliance companies, or cause our intentions to diverge from those of the market.」
It continues to pursue the policy of advancing M&A and business alliances, while maintaining the risks arising from problems at investee or alliance companies and divergence from the market's intentions. - FY2022WorsenedAnnual report
「Our group reviews matters from various perspectives through internal approval processes, including the Board of Directors and the Executive Committee, and works to mitigate risks. However, circumstances not initially anticipated could cause financial or other business problems at investee or alliance companies, or cause our intentions to diverge from those of the market. In such cases, we may be unable to achieve the results originally planned, which could affect our group's operating results, financial position and growth plans.」
While accelerating M&A and business alliances under NF2023, it specifies the risk that problems at investee or alliance companies and divergence from the market's intentions could also affect the growth plan. - FY2021Establishment of the Alliance Procurement DivisionAnnual report
「To strengthen our product lineup and enter new markets, we have newly established the Alliance Procurement Division to expand our supply chain and accelerate the generation of earnings in the maintenance services field.」
While describing the risk of divergence between our intentions and those of alliance partners and the market, it presents measures to establish the Alliance Procurement Division and expand the supply chain and maintenance services. - FY2017First statedAnnual report
「In addition to supply-source-focused business alliances, such as alliances to expand our product lineup, our group is also actively pursuing technical and sales alliances. We intend to continue this policy, but circumstances not initially anticipated could cause our intentions to diverge from those of our alliance partners or the market. In such cases, we may be unable to achieve the results originally planned, which could affect our group's operating results and financial position.」
While pursuing alliances relating to the product lineup, technology and sales, it identifies divergence between our intentions and those of alliance partners and the market as a risk.