Integration Risk Associated with Strategic Investments, M&A and New Businesses
First written in FY2016. 1 of 3 entries say "Materialised", first in FY2017. Latest entry: FY2019.
The whole theme swung hardest in 2017: 1 of 10 companies on the "Worse" side.
7 other companies' latest entry also says "Restated".
- FY2019RestatedAnnual report
「When conducting M&A, sufficient due diligence may not be possible depending on the nature of the transaction and other factors, and contingent liabilities or other matters may be discovered after the M&A.」
The risks associated with M&A, including insufficient due diligence, integration, synergies, cost reductions and goodwill impairment, continue to be disclosed. - FY2017MaterialisedAnnual report
「However, sales stagnated because the development of the sales structure after the M&A was delayed.」
Risks relating to the sales structure and integration after the M&A materialised as stagnant sales in the public-sector consulting business. - FY2016First statedAnnual report
「M&A and similar transactions entail various risks and uncertainties, including the integration or combination of related businesses and systems, the standardisation or integration of accounting and data-processing systems, management structures, and the adjustment of relationships with customers and business partners.」
The Company identifies the difficulty of integrating operations, systems and management structures and achieving synergies in connection with strategic investments, mergers, joint ventures and entry into new businesses.