Valuation loss on investment securities due to a decline in shares related to Thai sugar companies
First written in FY2020-Q3. 2 of 4 entries say "Advanced", first in FY2021-Q2. Latest entry: FY2021.
The whole theme swung hardest in 2019: 69 of 144 companies on the "Worse" side.
0 other companies' latest entry also says "Advanced".
- FY2021AdvancedAnnual report
「Net cash used in investing activities was ¥482 million. The main items were a net decrease of ¥940 million in time deposits, a net increase of ¥1,000 million in securities used to invest surplus funds, cash used of ¥610 million for the acquisition of property, plant and equipment and intangible assets, proceeds of ¥494 million from the sale and redemption of investments, including the transfer of shares in the holding company of Kaset Thai, a major Thai sugar manufacturer and distributor, and other items, including the acquisition of business-use land, of ¥314 million.」
The company recorded ¥494 million in proceeds from the sale of investments, including the transfer of shares in the Kaset Thai holding company for which the valuation loss was recognized, in full-year cash flows. - FY2021-Q2AdvancedAnnual report
「The share transfer dates are as follows. The first transfer, representing 50% of the shares held by the company, was completed on 13 October 2020.」
The first transfer of 50% of the shares held by the company, or 243,117 shares, in the Kaset Thai holding company for which the valuation loss was recorded was completed on 13 October 2020. The remaining 50% was scheduled to be transferred on 17 March 2021. - FY2021-Q1MitigatedAnnual report
「At a meeting of the Board of Directors held on 10 June 2020, the company resolved to transfer its shares in the holding company of Kaset Thai, a major Thai sugar manufacturer and distributor, which are financial assets measured at fair value through other comprehensive income, and reached an agreement on the transfer on 15 July 2020.」
The company agreed to transfer all 486,234 shares in the Kaset Thai holding company that had incurred the valuation loss, and indicated a policy of improving asset efficiency and strengthening its financial position. The transfer was scheduled to take place in 2 installments, on 13 October 2020 and 17 March 2021, and had not been completed as of the date of submission of the quarterly report. - FY2020-Q3MaterialisedAnnual report
「The market price of shares in Kaset Thai International Sugar Corporation Public Company Limited (Kaset Thai), a major Thai sugar manufacturer and distributor, fell sharply, in line with other Thai sugar companies, amid expectations of deteriorating performance caused by drought and other factors. As a result, the company recognized a valuation loss on investment securities of ¥661 million for shares in its holding company, classified as investment securities without a market value, as an extraordinary loss.」
The market prices of related shares fell sharply amid expectations of deteriorating performance at Thai sugar companies due to drought and other factors, and the valuation loss on investment securities of ¥661 million was recorded.