Subsidiary’s Negative Net Worth and Recoverability Risk for Receivables from Affiliates
First written in FY2021. 2 of 4 entries say "Mitigated", first in FY2022. Latest entry: FY2024.
The whole theme swung hardest in 2018: 6 of 10 companies on the "Worse" side.
10 other companies' latest entry also says "Mitigated".
- FY2024MitigatedAnnual report
「“Short-term loans to affiliated companies ¥745.370 million” “Short-term loans to affiliated companies ¥30.370 million” “Reversal of allowance for doubtful accounts ¥541.842 million”」
Following the absorption-type merger of 宗國玄品ふぐ, the balance of short-term loans to affiliated companies decreased from ¥745 million to ¥30 million, and a ¥541 million reversal of the allowance for doubtful accounts was recognized. The subsidiary’s negative net worth and the company’s exposure to receivables from affiliated companies were substantially reduced. - FY2023WorsenedAnnual report
「The company had negative net worth, with the amount of negative net worth standing at ¥541 million as of the end of March 2023.」
宗國玄品ふぐ’s negative net worth increased from ¥467 million in the previous fiscal year to ¥541 million. The company also recognized an allowance for doubtful accounts of ¥565 million against short-term loans to affiliated companies of ¥745 million. - FY2022MitigatedAnnual report
「The company had negative net worth, with the amount of negative net worth standing at ¥467 million as of the end of March 2022.」
宗國玄品ふぐ’s negative net worth decreased from ¥693 million to ¥467 million, but the subsidiary’s negative net worth and the company’s exposure to receivables from affiliated companies remain. - FY2021First statedAnnual report
「The company had negative net worth, with the amount of negative net worth standing at ¥693 million as of the end of March 2021.」
The company disclosed that 宗國玄品ふぐ, a consolidated subsidiary, had negative net worth of ¥693 million as of the end of March 2021. The filing company also recognized an allowance for doubtful accounts of ¥718 million against short-term loans to affiliated companies of ¥890 million, making its exposure to the subsidiary’s finances explicit.