Impairment of Idle Assets Following Partial Termination of Office Lease
First written in FY2021. 5 of 6 entries say "Materialised", first in FY2021. Latest entry: FY2024-Q2.
Fronteo moved to the "Worse" side of this theme in 2021.
1 other company's latest entry also says "Restated".
- FY2024-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
No material changes were identified regarding the impairment risk for idle assets associated with partial office lease termination. - FY2023MaterialisedAnnual report
「The costs arose from the restructuring of a U.S. subsidiary and comprised ¥86.190 million in special retirement allowances for local employees, ¥81.473 million in impairment losses on right-of-use assets, ¥68.982 million in losses on disposal of fixed assets and ¥22.229 million in other costs.」
The restructuring of a U.S. subsidiary resulted in total restructuring costs of ¥258.876 million, including an ¥81.473 million impairment loss on right-of-use assets. - FY2023-Q3MaterialisedAnnual report
「During the nine-month period of the fiscal year, an impairment loss of ¥82.074 million was recorded for Legal Tech AI.」
As part of the restructuring of a U.S. subsidiary, an ¥82.074 million impairment loss was recorded on right-of-use assets, and asset losses associated with office and data center closures continued to arise. - FY2023-Q2MaterialisedAnnual report
「During the six-month period of the fiscal year, an impairment loss of ¥80.595 million was recorded for Legal Tech AI.」
The company recorded an ¥80.595 million impairment loss on right-of-use assets as part of the restructuring involving the closure of offices and data centers of a U.S. subsidiary. Losses related to idle and closure-associated assets continued to arise. - FY2022-Q2MaterialisedAnnual report
「At an overseas consolidated subsidiary, the company recorded mainly the equivalent of rent and other payments after closure as losses associated with office closures for 2 sites confirmed for closure.」
The closure of 2 sites of a U.S. subsidiary was confirmed, and ¥120.794 million in office closure losses was recorded. Losses related to idle assets and closures resulting from partial office lease termination continued to arise. - FY2021MaterialisedAnnual report
「Following the decision during the consolidated fiscal year to terminate part of the office lease, the carrying amounts of leasehold improvements and tools, fixtures and equipment were reduced to their recoverable amounts, with the reduction recorded as an impairment loss under extraordinary losses.」
The decision to terminate part of the office lease resulted in idle assets, and impairment losses of ¥14.334 million for leasehold improvements and ¥67 thousand for tools, fixtures and equipment, totaling ¥14.402 million, were recorded.