Industry DependenceHeavy reliance on horse racing events exposes the company to industry-specific risks, such as regulatory changes or shifts in consumer preferences, which could impact revenue stability.
Limited DiversificationA narrow focus on horse racing limits diversification, potentially increasing vulnerability to sector downturns and reducing opportunities for revenue growth from other segments.
Market SaturationWhile a loyal customer base is beneficial, market saturation in Japan could limit growth potential, necessitating expansion or innovation to capture new revenue streams.