Risk of Termination of Material Contracts and Changes in Counterparties’ Management Policies
First written in FY2023. 2 of 3 entries say "Restated". Latest entry: FY2025.
The whole theme swung hardest in 2025: 3 of 9 companies on the "Worse" side.
10 other companies' latest entry also says "Restated".
- FY2025RestatedAnnual report
「When entering into joint development agreements, the company confirms that the objective is to achieve commercialization rather than R&D. Although it agrees in advance on a roadmap to commercialization and enters into agreements for each milestone, continued development may become difficult if development encounters difficulties or if budgets are cut because of changes in customers' management policies, deteriorating business performance or other factors.」
The risk that continued development may become difficult because of changes in joint development partners' policies, deteriorating business performance and budget cuts continues. - FY2024RestatedAnnual report
「When entering into joint development agreements, the company confirms that the objective is to achieve commercialization rather than R&D. Although it agrees in advance on a roadmap to commercialization and enters into agreements for each milestone, continued development may become difficult if development encounters difficulties or if budgets are cut because of changes in customers' management policies, deteriorating business performance or other factors.」
The company continues to disclose the risk that changes in joint development partners' policies, deteriorating business performance and budget cuts may affect material agreements and the continuation of development. - FY2023First statedAnnual report
「If the agreement is terminated or otherwise ends, or if the counterparty changes its management policy or there is an extreme change in the business environment, this may affect the company's business strategy and operating results.」
The company discloses the termination of material agreements, such as joint venture and licensing agreements, changes in counterparties' policies and changes in the business environment as risks.