| (1) |
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Industry-related risk (risk related to fluctuations in the economic and business environments, changes in common business practices and other advertising industry trends) |
| (2) |
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Competition-related risk (risk related to competition with other advertising companies and new market entrants, risk related to competition in new media advertising markets) |
| (3) |
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Risk related to advertisers and media companies |
| (4) |
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Risk related to efforts to reinforce domestic service capabilities in Japan |
| (5) |
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Risk related to efforts to adapt businesses in response to a changing market structure |
| (6) |
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Risk related to efforts to build a global business portfolio |
| (7) |
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Risk related to legal or regulatory changes |
| (8) |
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Risk of litigation |