Delay in Thailand's Political Transition and Decline in the Thai Baht
First written in FY2016-Q3. 8 of 22 entries say "Mitigated", first in FY2017-Q3. Latest entry: FY2024-Q2.
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- FY2024-Q2AdvancedAnnual report
「At THAI YOKOREI CO.,LTD., the Thai consolidated subsidiary, handling volumes for livestock products and dairy products, its core products, increased and drove segment profit.」
The Thai subsidiary, which had reported lower revenue and profit in the previous fiscal year due to a lower inventory ratio, progressed to a stage where increased handling volumes of its core livestock and dairy products were driving segment profit. - FY2024-Q1MitigatedAnnual report
「At THAI YOKOREI CO.,LTD., the Thai consolidated subsidiary, handling volumes for livestock products, its core products, increased and drove segment profit.」
The Thai subsidiary, which had reported lower revenue and profit in the previous fiscal year due to lower inventory ratios for its key products, improved to a position where increased handling volumes of its core livestock products were driving segment profit. - FY2023Lower revenue and profit at the Thai subsidiary due to a decline in inventory levelsAnnual report
「At THAI YOKOREI CO.,LTD., the Thai consolidated subsidiary, cargo moved quickly, and both inbound and outbound volumes exceeded the previous fiscal year, increasing cargo-handling fee revenue. However, the inventory ratio for key products, including livestock products, declined, reducing storage fee revenue and resulting in lower revenue and profit.」
The Thai subsidiary's handling volumes and cargo-handling fee revenue increased, but lower inventory ratios for livestock products and other items reduced storage fee revenue, resulting in lower revenue and profit. - FY2023-Q2Recovery in the Thai subsidiary's handling volumes after the removal of restrictions, offset by lower profits due to soaring electricity costsAnnual report
「At THAI YOKOREI CO.,LTD., the Thai consolidated subsidiary, inventory movements were returning to pre-pandemic levels following the complete removal of Thailand's COVID-19 policy restrictions. The inventory turnover rate increased, and both inbound and outbound volumes exceeded the previous fiscal year. However, inventory levels, particularly for chicken, declined, and, as in Japan, higher electricity rates resulted in lower profits.」
Handling volumes recovered following the removal of Thailand's COVID-19 policy restrictions, but lower chicken inventories and soaring electricity rates resulted in lower profits. - FY2022-Q3MitigatedAnnual report
「At THAI YOKOREI CO.,LTD., the Thai consolidated subsidiary, inbound and outbound volumes both exceeded the previous fiscal year despite the continuing impact of COVID-19, while handling volumes for its core products, particularly chicken and dairy products, increased, resulting in higher revenue and profit.」
Despite the continuing impact of COVID-19, the Thai subsidiary's inbound and outbound volumes exceeded the previous fiscal year, and increased volumes of its core products resulted in higher revenue and profit. - FY2022-Q1MitigatedAnnual report
「THAI YOKOREI CO.,LTD., the Thai consolidated subsidiary, reported higher revenue and profit as handling volumes for livestock products recovered.」
The Thai subsidiary shifted from lower profits due to declining inventory and inbound volumes through the previous fiscal year to higher revenue and profit as handling volumes for livestock products recovered. - FY2021-Q3Lower profit due to a decline in the Thai subsidiary’s inventory levelsAnnual report
「THAI YOKOREI CO.,LTD., our consolidated subsidiary in Thailand, reported lower profit as inbound volumes continued to decline due to worker shortages caused by the pandemic and manufacturers’ inventory adjustments, reducing inventory levels even as outbound volumes of livestock products, its main item, showed signs of recovery.」
The Thai subsidiary shifted from contributing to profit growth on the back of its previously high inventory levels to lower inbound volumes and inventory, and lower profits, due to labor shortages and manufacturers' inventory adjustments. - FY2021-Q2RestatedAnnual report
「THAI YOKOREI CO.,LTD., our consolidated subsidiary in Thailand, reported lower profit as inventories declined after production volumes fell, mainly for livestock products, its principal stored commodity, due to labor shortages and manufacturers’ production adjustments caused by the pandemic.」
At the Thai subsidiary, lower production and inventory levels due to labor shortages and production adjustments associated with the pandemic continued to weigh on profit. - FY2021-Q1Lower profit due to production adjustments for livestock products for overseas marketsAnnual report
「THAI YOKOREI CO.,LTD., our consolidated subsidiary in Thailand, adjusted production of livestock products for markets outside Thailand, resulting in lower inbound and inventory volumes and lower profit.」
The Thai subsidiary reported lower profit as production adjustments for livestock products for markets outside Thailand reduced inbound and inventory volumes. - FY2020Lower revenue and profit due to normalization of high inventory levels and lower inbound volumes caused by the pandemicAnnual report
「THAI YOKOREI CO.,LTD., our consolidated subsidiary in Thailand, reported lower revenue and profit as inbound volumes declined due to the spread of COVID-19, in addition to the high inventory levels through the previous fiscal year having moderated.」
The subsidiary shifted from contributing to higher profit on the back of high inventory levels to reporting lower revenue and profit due to the normalization of high inventory levels and lower inbound volumes caused by the pandemic. - FY2020-Q3Lower profit due to partial normalization of the Thai subsidiary’s high inventory levelsAnnual report
「THAI YOKOREI CO.,LTD., our consolidated subsidiary in Thailand, reported lower profit as the high inventory levels that had continued from the previous fiscal year moderated for some items.」
The Thai subsidiary shifted from contributing to higher profit on the back of high inventory levels to reporting lower profit as inventory levels moderated for some items. - FY2019RestatedAnnual report
「THAI YOKOREI CO.,LTD., our consolidated subsidiary in Thailand, contributed to higher segment profit as high inventory levels, mainly of livestock products in Thailand, continued.」
The Thai subsidiary continued to contribute to higher profit in the refrigerated warehousing business on the back of high inventory levels throughout the fiscal year. - FY2019-Q2RestatedAnnual report
「THAI YOKOREI CO.,LTD., our consolidated subsidiary in Thailand, contributed to higher segment profit as high inventory levels, mainly of livestock products, continued.」
The Thai subsidiary continued to contribute to higher profit in the refrigerated warehousing business on the back of high inventory levels. - FY2019-Q1RestatedAnnual report
「THAI YOKOREI CO.,LTD., our consolidated subsidiary in Thailand, contributed to higher segment profit as inventories of livestock products and fruit juice remained at high levels, continuing from the previous fiscal year.」
The Thai subsidiary contributed to higher profit in the refrigerated warehousing business on the back of high inventory levels that continued from the previous fiscal year, maintaining its position as a source of recovery and contribution. - FY2018MitigatedAnnual report
「Against a backdrop of political and economic stabilization in Thailand, THAI YOKOREI CO.,LTD., our consolidated subsidiary, saw inventories of livestock products, fruit and fruit juice reach high levels, significantly improving performance and contributing to segment earnings.」
The Thai subsidiary’s improved performance and contribution to earnings against a backdrop of political and economic stabilization in Thailand were confirmed for the full fiscal year. - FY2018-Q3MitigatedAnnual report
「THAI YOKOREI CO.,LTD., our consolidated subsidiary, saw production activity recover against a backdrop of recent political and economic stabilization in Thailand. Inventories of livestock products, fruit and fruit juice reached high levels, significantly improving performance and contributing to segment earnings.」
Against a backdrop of political and economic stabilization in Thailand and recovering production activity, the Thai subsidiary’s performance increased substantially. - FY2018-Q2MitigatedAnnual report
「The performance of each center at THAI YOKOREI CO.,LTD., our consolidated subsidiary in Thailand, recovered substantially, contributing to segment earnings.」
The recovery in performance at each center of the Thai subsidiary was described as contributing to earnings in the refrigerated warehousing business. - FY2018-Q1MitigatedAnnual report
「THAI YOKOREI CO.,LTD., our consolidated subsidiary in Thailand, contributed to segment earnings by significantly increasing revenue and profit as performance improved at each center, led by higher utilization at the Bang Pakong No. 2 Distribution Center.」
Regarding the subsidiary’s performance in connection with Thailand’s economic stagnation and other factors, improvements at each center progressed, resulting in significantly higher revenue and profit. - FY2017RestatedAnnual report
「In Thailand, where the economy had temporarily shown signs of stagnation, the performance of consolidated subsidiary THAI YOKOREI CO.,LTD. also began to recover.」
Despite the impact of Thailand’s economic stagnation, the view that the subsidiary’s performance is on a recovery trend remains unchanged. - FY2017-Q3MitigatedAnnual report
「Even in Thailand, where the economy had temporarily shown signs of stagnation, the performance of consolidated subsidiary THAI YOKOREI CO.,LTD. began to recover.」
The impact of Thailand’s economic stagnation on the subsidiary’s performance was described as having shifted to a recovery trend. - FY2016RestatedAnnual report
「THAI YOKOREI CO.,LTD., our consolidated subsidiary in Thailand, reported lower revenue and profit due to economic stagnation caused by delays in the schedule for the transition to civilian rule, as well as a significant decline in the Thai baht on a foreign-currency translation basis.」
The delay in Thailand’s political transition and the decline in the Thai baht continued to be reflected in lower revenue and profit at the subsidiary. - FY2016-Q3MaterialisedAnnual report
「Revenue and profit declined due to a slight economic slowdown caused by delays in the schedule for the transition to civilian rule, as well as a significant decline in the Thai baht on a foreign-currency translation basis.」
For the Thai subsidiary, the delay in the political transition and the currency decline were identified as actual factors behind lower revenue and profit. At the same time, local demand for cold-chain services was described as resilient.