Worsening external conditions and impairment at Ege-Tav
First written in FY2016. 8 of 20 entries say "Mitigated", first in FY2018-Q1. Latest entry: FY2024-Q3.
The whole theme swung hardest in 2022: 37 of 74 companies on the "Worse" side.
8 other companies' latest entry also says "Mitigated".
- FY2024-Q3MitigatedAnnual report
「Business profit was ¥2,155 million, compared with a business loss of ¥2,670 million in the same quarter of the previous year, due to the decline in live cattle prices in Australia's beef business, improved profitability from increased sales volumes, and strong performance in Turkey's chicken business, among other factors.」
The Turkish chicken business performed well, improving profit in the Overseas Business Division from the deterioration previously reported due to high feed costs and lower selling prices. - FY2023WorsenedAnnual report
「As for profit, in the Asian and European businesses, sales exceeded the previous year because processed-food sales performed well in Vietnam and Taiwan and chicken sales in Turkey maintained high prices. Profit declined due to the impact of higher raw material costs for processed products in Thailand and continued high grain feed costs in Turkey, among other factors.」
In Turkey, selling prices remained high, while grain feed costs continued to rise, reducing profit in the Asian and European businesses. - FY2023-Q3WorsenedAnnual report
「As for profit, profit declined due to lower volumes in Thailand and China, higher raw material costs for processed products, and continued high feed raw material costs in the Turkish poultry business.」
High feed raw material costs continued in the Turkish poultry business, reducing profit in the Asian and European businesses together with lower volumes and higher raw material costs in Thailand and China. - FY2023-Q1WorsenedAnnual report
「During the first quarter of the current consolidated fiscal year, the national wholesale price index of the Republic of Turkey indicated that the country's cumulative three-year inflation rate had exceeded 100%. Accordingly, the Group determined that its subsidiaries in the Republic of Turkey, whose functional currency is the Turkish lira, were operating in a hyperinflationary economy.」
The company determined that its Turkish subsidiaries operated in a hyperinflationary economy after the cumulative three-year inflation rate exceeded 100%, and began adjustments under hyperinflation accounting. An amount of ¥170 million relating to the net monetary position was recognized as finance costs. - FY2022MitigatedAnnual report
「As for profit, the Asian and European businesses struggled with higher raw material costs for processed products in Thailand, but profit increased due to the maintenance of high selling prices in Turkey and increased exports from the UK.」
In the Turkish business, maintaining high selling prices contributed to revenue, resulting in improvement from the deterioration previously reported due to lower selling prices and high feed prices. - FY2022-Q3MitigatedAnnual report
「Although profit declined due to higher raw material costs for processed products in Thailand and lower sales volumes in Greater China, profit increased as revenue growth from maintaining high selling prices in Turkey had an impact.」
In the Turkish business, increased revenue from maintaining high selling prices contributed to profit, and improvement was reported from the previous deterioration caused by lower selling prices and other factors. - FY2022-Q2MitigatedAnnual report
「As for profit, the businesses recorded higher profit, primarily due to the effect of maintaining high selling prices in Turkey.」
In the Turkish business, maintaining high selling prices increased profit in the Asian and European businesses, and improvement was reported from the previous deterioration caused by lower selling prices and high feed prices. - FY2021-Q2WorsenedAnnual report
「As for profit, the Asian and European businesses were below the previous year due to lower production volumes in Thailand, weak selling prices in Turkey, and high feed prices, among other factors.」
In Turkey, weak selling prices and high feed prices continued, and together with lower production volumes in Thailand, they caused profit in the Asian and European businesses to fall below the previous year. - FY2021-Q1WorsenedAnnual report
「As for profit, the Asian and European businesses were below the previous year due to lower production volumes in Thailand and lower selling prices in Turkey, among other factors.」
Regarding the Asian and European businesses, including Turkey, for which improvement had been reported in the previous year, profit fell below the previous year due to lower selling prices in Turkey, among other factors. - FY2020MitigatedAnnual report
「As for profit, the Asian and European businesses exceeded the previous year due to progress in improving productivity in Thailand and higher selling prices in Turkey.」
The company reported that the Asian and European businesses, including the Turkish poultry business, exceeded the previous year due to higher selling prices and other factors. - FY2020-Q2MitigatedAnnual report
「As for profit, the Asian and European businesses exceeded the previous year due to lower processed-food raw material costs in Thailand, stable meat procurement costs in the UK, and strong chicken sales in Turkey, among other factors.」
The company reported that profit in the Asian and European businesses exceeded the previous year, supported by strong chicken sales in Turkey and stable procurement costs. - FY2020-Q1MitigatedAnnual report
「As for profit, the Asian and European businesses exceeded the previous year due to increased sales volumes of processed foods for Japan in Thailand, stable meat procurement costs in the UK, and higher selling prices for chicken in Turkey.」
The company reported that profit in the Asian and European businesses exceeded the previous year, helped by higher selling prices for chicken in Turkey, among other factors. - FY2019-Q2RestatedAnnual report
「Profit for the Asia and Europe businesses fell below the previous year because labor costs rose at the processed-food manufacturing plant in Thailand and the depreciation of the Turkish lira drove up feed and materials prices in the poultry business in Turkey.」
In the Turkish poultry business, the impact of soaring feed and material prices caused by the weaker Turkish lira continued, and performance was below the previous year. - FY2019-Q1WorsenedAnnual report
「As for profit, the Asian and European businesses were below the previous year due to higher labor costs accompanying increased production volumes of processed foods in Thailand and soaring feed prices in the Turkish poultry business as a result of the weaker Turkish lira, among other factors.」
The company reported that soaring feed prices caused by the weaker Turkish lira reduced profit in the Turkish poultry business, which was below the previous year. - FY2018RestatedAnnual report
「As for profit, the Asian and European businesses struggled with soaring meat market prices in the UK and raw material prices in Thailand, but profit exceeded the previous year because the poultry business in Turkey performed well.」
The company continued to report that the Turkish poultry business performed well, while the impact of soaring prices remained in the UK and Thailand. - FY2018-Q3RestatedAnnual report
「As for profit, the Asian and European businesses struggled with soaring meat procurement prices in the UK, but profit exceeded the previous year because the poultry business in Turkey performed well.」
The company continued to report that the Turkish poultry business performed well, while the impact of soaring meat procurement prices remained in the UK. - FY2018-Q2RestatedAnnual report
「As for profit, the Asian and European businesses performed well in the poultry business in Turkey, but profit was below the previous year due to higher meat procurement prices in the UK and higher chicken procurement prices for processed-food manufacturing in Thailand.」
Regarding the Turkish poultry business, which had been reported as struggling in the previous year, the company stated that it also performed well during the current quarter. Meanwhile, the region continued to be affected by higher prices for other purchased goods. - FY2018-Q1MitigatedAnnual report
「As for profit, the Asian and European businesses performed well in processed-food manufacturing in Thailand and the poultry business in Turkey, but selling expenses increased in line with higher sales, and profit was below the previous year.」
Regarding the Turkish poultry business, which had been reported as struggling in the previous year, the company stated that it performed well during the current quarter. - FY2017-Q3WorsenedAnnual report
「The Asia and Europe businesses underperformed the previous year as exchange rates and raw material trends weighed on the manufacturing plant in Thailand and the poultry business in Turkey.」
For the poultry business in Turkey, the company reported difficulties caused by foreign exchange movements and raw material trends, with performance below the previous year, indicating that the impact of the deteriorating external environment has continued. - FY2016MaterialisedAnnual report
「During the consolidated fiscal year, the consolidated companies recognized an impairment loss on long-lived assets of ¥3,391 million. This resulted from impairing the carrying amounts of goodwill and other intangible assets to fair value after reviewing future plans and considering recoverable value, because Ege-Tav's performance had been below the initially established plan, mainly due to a deterioration in the external environment, including outbreaks of avian influenza in Turkey and heightened geopolitical risks.」
After acquiring 60.0% of Ege-Tav's shares on 1 April 2015, the company reported that performance fell short of plan and that impairment was recognized, mainly due to avian influenza and geopolitical risks.