Risk of Sluggish Activity by Secondary Agencies
First written in FY2016. 2 of 3 entries say "Restated". Latest entry: FY2025.
The whole theme swung hardest in 2020: 6 of 27 companies on the "Worse" side.
28 other companies' latest entry also says "Restated".
- FY2025RestatedAnnual report
「If the activities of distributors under the Group in this business stagnate and the number of referrals fails to progress in line with the business plan, this could affect the Group's results.」
The risk that the number of referrals will fall short of plan due to stagnation in distributor activities is reiterated, with direct sales and information gathering and product development through distributors identified as countermeasures. - FY2017RestatedAnnual report
「If referral activities conducted by the relevant distributor on behalf of the Group stagnate due to trends among operators other than the Group or changes in the distributor's sales policy」
The risk that the number of referrals will fall short of plan due to trends among sub-distributors and changes in their sales policies is reiterated. - FY2016First statedAnnual report
「If referral activities conducted by the relevant distributors on behalf of the Group stagnate due to trends among operators other than the Group or changes in distributors' sales policies, the number of referrals for usage agreements may fail to progress in line with the business plan, which could have a material adverse effect on the Group's results.」
The risk that the number of contract referrals will fall short of plan due to trends among other companies and changes in the sales policies of sub-distributors is explicitly identified.