Declining Store Profitability and Impairment of Property, Plant and Equipment
First written in FY2017-Q3. 13 of 35 entries say "Materialised", first in FY2017. Latest entry: FY2027-H1.
Tokyo Base moved to the "Worse" side of this theme in 2017, the same year as the typical company in this theme.
The whole theme swung hardest in 2025: 32 of 75 companies on the "Worse" side.
19 other companies' latest entry also says "Materialised".
- FY2027-H1MaterialisedAnnual report
「Extraordinary losses included an impairment loss of ¥67.803 million and a loss on disposal of fixed assets of ¥2.519 million. These mainly resulted from impairment and disposal of fixed assets related to the former stores following the relocation of the PUBLIC TOKYO and CITY sales areas as part of the renovation of Ikebukuro PARCO.」
The relocation of the PUBLIC TOKYO and CITY sales areas as part of the renovation of Ikebukuro PARCO resulted in an impairment loss of ¥67.803 million and a loss on disposal of fixed assets of ¥2.519 million. - 2026-06-15MaterialisedFinancial Results Presentation
「Impairment and disposal losses incurred due to store closures」
Impairment and disposal losses associated with store closures were incurred in the first quarter, resulting in newly recorded losses from lower store profitability. - FY2026MitigatedAnnual report
「Extraordinary losses totaled ¥116.672 million. The main factors were decreases in impairment losses and store contract cancellation losses. Impairment losses were ¥70.292 million, and store contract cancellation losses were ¥9.495 million.」
Impairment losses decreased from ¥200.505 million in the previous fiscal year to ¥70.292 million, while store contract cancellation losses declined from ¥28.977 million to ¥9.495 million, reducing the scale of losses associated with declining store profitability. - FY2026-H1MitigatedAnnual report
「Revenue for the current interim consolidated accounting period was ¥10,293.142 million, up 13.0% year on year, while same-store sales were 109.5% of the previous year, resulting in higher revenue year on year.」
Same-store sales were 109.5% of the same period of the previous year, indicating progress in addressing the risk of declining store profitability through store expansion and recovery in existing stores. - FY2025MitigatedAnnual report
「Extraordinary losses totaled ¥231.902 million, a decrease of ¥88.841 million year on year, reflecting a decline in impairment losses and contract cancellation losses associated with store closures.」
Extraordinary losses associated with declining store profitability and store closures decreased from ¥320.744 million in the previous year to ¥231.902 million, while impairment losses also declined from ¥288.775 million to ¥200.505 million. - FY2025-H1MaterialisedAnnual report
「Extraordinary losses increased by ¥18.384 million compared with the previous interim consolidated accounting period, to ¥43.648 million. The main factors were impairment losses and store contract cancellation losses at a Chinese subsidiary.」
The Company recorded an impairment loss of ¥23.632 million at a Chinese subsidiary and a store contract cancellation loss of ¥20.016 million, resulting in an increase from the same period of the previous year in losses associated with declining store profitability and store closures. - FY2025-Q1MitigatedAnnual report
「Extraordinary losses decreased by ¥27.751 million compared with the first quarter of the previous consolidated fiscal year, and none were recorded in the first quarter of the current consolidated fiscal year. The main reason was that the Chinese subsidiary recorded an impairment loss in the first quarter of the previous consolidated fiscal year.」
Although closures of unprofitable stores in China continued, extraordinary losses, including impairment losses, were zero in the first quarter, and losses associated with declining store profitability decreased from the same period of the previous year. - FY2024WorsenedAnnual report
「During the consolidated fiscal year, the Group recorded impairment losses for the following asset groups: 9 stores in China (overseas), totaling ¥238.779 million. During the consolidated fiscal year, the Group also recorded a store contract cancellation loss of ¥31.923 million as a penalty associated with the closure of unprofitable stores.」
Impairment losses totaled ¥288.775 million, up from ¥262.631 million in the previous fiscal year. Impairment losses were recorded for 9 stores in China, 1 store in Hong Kong and other locations, and a store contract cancellation loss of ¥31.923 million also arose. - FY2024-Q2MitigatedAnnual report
「Extraordinary losses decreased by ¥11.099 million from the cumulative second quarter of the previous consolidated fiscal year to ¥25.264 million. The main factor was impairment losses resulting from closures in certain areas of the Chinese subsidiaries and exits from certain commercial facilities.」
Extraordinary losses, including impairment losses, declined from ¥36.363 million in the same period of the previous year to ¥25.264 million, reducing the scale of losses associated with declining store profitability and store closures. However, impairment losses associated with store closures in China continued. - FY2024-Q1MaterialisedAnnual report
「Extraordinary losses amounted to ¥27.751 million, compared with ¥204 thousand in the same period of the previous year. The main factor was impairment losses resulting from closures in certain areas of mainland China and exits from certain commercial facilities.」
The Company recorded an impairment loss of ¥27.751 million associated with store closures in mainland China, and losses associated with declining store profitability and store closures also arose during the quarter. - FY2023WorsenedAnnual report
「Extraordinary losses totaled ¥474.725 million. The main components were impairment losses and store contract cancellation losses resulting from the closure of stores operated by a Chinese subsidiary in certain regions and at commercial facilities.」
In addition to an impairment loss of ¥262.631 million, the Company recorded a store contract cancellation loss of ¥211.889 million. Losses associated with declining store profitability and store closures increased from the impairment loss of ¥99.352 million recorded in the previous consolidated fiscal year. - FY2023-Q3WorsenedAnnual report
「Extraordinary losses increased by ¥391.202 million from the cumulative third quarter of the previous consolidated fiscal year to ¥514.849 million. The main factors were increases in impairment losses and store cancellation losses.」
The Company recorded an impairment loss of ¥305.293 million and a store contract cancellation loss of ¥209.351 million, resulting in an increase from the same period of the previous year in losses associated with declining store profitability and store closures. - FY2023-Q2MitigatedAnnual report
「Extraordinary losses decreased by ¥43.375 million from the cumulative second quarter of the previous consolidated fiscal year to ¥36.363 million. The main factors were decreases in losses due to temporary closures and other measures and in impairment losses.」
Extraordinary losses decreased from the prior-year period, and impairment losses also declined from ¥41.759 million to ¥36.158 million. Although losses associated with declining store profitability remained, their scale decreased from the prior-year period. - FY2022MitigatedAnnual report
「During the current consolidated fiscal year, the group recognized impairment losses of ¥99.352 million.」
Impairment losses associated with store relocations and exits amounted to ¥99.352 million, down from ¥216.546 million in the previous consolidated fiscal year. - FY2022-Q3MitigatedAnnual report
「Extraordinary losses decreased by ¥172.488 million from the cumulative third quarter of the previous consolidated fiscal year to ¥123.646 million. The main factors were decreases in losses due to temporary closures and other measures and in impairment losses.” “Impairment losses: ¥85.666 million」
Impairment losses decreased from ¥132.913 million in the prior-year period to ¥85.666 million, reducing the scale of losses associated with declining store profitability. - FY2022-Q2MitigatedAnnual report
「Extraordinary losses decreased by ¥195.210 million from the cumulative second quarter of the previous consolidated fiscal year to ¥79.739 million. The main factors were decreases in losses due to temporary closures and other measures and in impairment losses.」
Impairment losses decreased from ¥111.639 million in the prior-year period to ¥41.759 million, reducing the scale of losses associated with declining store profitability. - FY2022-Q1MitigatedAnnual report
「By format, all formats with physical stores substantially exceeded the prior-year results, due to the rebound from the large-scale temporary closures in the previous year and the contribution from new store openings and expanded floor space.」
Due to the rebound from the large-scale temporary closures in the previous year and the contribution from new store openings and expanded floor space, all formats with physical stores exceeded the prior-year results, and store profitability temporarily recovered in the results. - FY2021WorsenedAnnual report
「During the current consolidated fiscal year, the group recognized impairment losses of ¥216.546 million.」
Impairment losses arose at multiple stores, including Ikebukuro, Fukuoka, Kawasaki, Nagoya, Kichijoji and Hong Kong’s Causeway Bay district, bringing full-year impairment losses to ¥216.546 million. - FY2021-Q3MaterialisedAnnual report
「The company recorded as extraordinary losses impairment losses of ¥132.913 million related to the exit of STUDIOUS MENS Fukuoka, 2 standalone MENS and WOMENS stores being prepared for the renovation of UNITED TOKYO Ikebukuro, 3 stores in Hong Kong’s Causeway Bay district, STUDIOUS TOKYO, UNITED TOKYO and PUBLIC TOKYO, and PUBLIC TOKYO Fukuoka, among others.」
Declining store profitability continued at multiple locations, and ¥132.913 million in impairment losses was recognized for Fukuoka, 2 stores in Ikebukuro and 3 stores in Hong Kong’s Causeway Bay district, among others. - FY2021-Q2MaterialisedAnnual report
「The company recorded as extraordinary losses ¥149.499 million, comprising total personnel expenses and depreciation during the temporary closure period, described as losses due to temporary closures and other measures, as well as ¥111.639 million in impairment losses related to the exit of STUDIOUS MENS Fukuoka, 2 standalone MENS and WOMENS stores being prepared for the renovation of UNITED TOKYO Ikebukuro, and 3 stores in Hong Kong’s Causeway Bay district, STUDIOUS TOKYO, UNITED TOKYO and PUBLIC TOKYO, among others.」
Declining store profitability materialized at multiple stores, and ¥111.639 million in impairment losses was recognized for Fukuoka, 2 stores in Ikebukuro and 3 stores in Hong Kong’s Causeway Bay district, among others. - FY2021-Q1MaterialisedAnnual report
「Same-store sales for the cumulative first quarter of the current consolidated fiscal year were 61.8% of the prior-year period company-wide, with STUDIOUS at 54.9%, UNITED TOKYO at 64.2% and PUBLIC TOKYO at 68.8% by format.」
Against the backdrop of temporary store closures and other measures due to the COVID-19 pandemic, same-store sales fell substantially below the prior-year period, and the risk of declining store profitability materialized in the results. - FY2020-Q3MaterialisedAnnual report
「Same-store sales for the cumulative third quarter were 98.7% of the prior-year period company-wide, with STUDIOUS at 96.5% and UNITED TOKYO at 102.2% by format. Same-store sales for the third quarter, covering 1 September 2019 to 30 November 2019, were 91.0% of the prior-year period. By format, STUDIOUS was 88.9% and UNITED TOKYO was 89.9%. Performance was weak mainly due to unseasonable weather, the consumption tax increase from October, and prolonged large-scale antigovernment demonstrations in Hong Kong.」
Same-store sales were 98.7% of the prior-year period for the cumulative period and 91.0% for the third quarter, with performance affected by unseasonable weather, the consumption tax increase and prolonged antigovernment demonstrations in Hong Kong. - FY2020-Q2RestatedAnnual report
「During the cumulative second quarter, there were no new business or other risks and no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
The company stated that there had been no material change in the risk related to declining store profitability and impairment of fixed assets. - FY2020-Q1RestatedAnnual report
「During the cumulative first quarter, there were no new business or other risks and no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
The company stated that there had been no material change in the risk related to declining store profitability and impairment of fixed assets. - FY2019MaterialisedAnnual report
「During the fiscal year, the company recognized impairment losses on the following asset groups: STUDIOUS TOKYO Nagoya in Naka-ku, Nagoya, Aichi Prefecture, ¥13.878 million; CITY Shinjuku in Shinjuku-ku, Tokyo, ¥2.981 million; STUDIOUS CITY Osaka in Kita-ku, Osaka, Osaka Prefecture, ¥13.477 million; STUDIOUS LAB in Jingumae, Shibuya-ku, Tokyo, ¥10.271 million; and CITY WEB in Shibuya, Shibuya-ku, Tokyo, ¥1.450 million.」
The company recognized total impairment losses of ¥42.060 million on 5 asset groups, including stores it had decided to close. The risk of declining store profitability materialized at multiple locations. - FY2019-Q3MaterialisedAnnual report
「For the nine months ended 31 December, revenue was ¥9,699.617 million, up 6.2% year on year; gross profit was ¥5,002.479 million, up 5.4%; selling, general and administrative expenses were ¥4,017.914 million, up 12.4%; operating profit was ¥984.564 million, down 15.9%; and ordinary profit was ¥988.881 million, down 15.5%. Following the recognition of impairment losses on unprofitable stores, quarterly net profit was ¥674.936 million, down 16.4%, resulting in higher revenue but lower profit.」
The risk of declining profitability at unprofitable stores continued to materialize, and an impairment loss of ¥42.060 million was recognized for the cumulative third quarter of the current fiscal year. - FY2019-Q2MaterialisedAnnual report
「The company recognized ¥37.628 million in impairment losses as extraordinary losses for 3 unprofitable stores that it decided to exit during the current fiscal year.」
The company decided to exit 3 unprofitable stores during the current fiscal year and recognized ¥37.628 million in impairment losses. The risk of declining store profitability has materialized at multiple stores. - FY2019-Q1RestatedAnnual report
「During the cumulative first quarter, there were no new business or other risks and no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
The company stated that there had been no material change in the risk related to declining store profitability and impairment of fixed assets. - FY2018MaterialisedAnnual report
「Due to poor performance, we closed STUDIOUS TOKYO Umeda.」
The risk of declining profitability materialized in the closure of STUDIOUS TOKYO Umeda. - FY2018-Q3RestatedAnnual report
「During the nine months ended the third quarter, there were no new business or other risks and no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company stated that there had been no material change in the risk related to declining store profitability and impairment of fixed assets. - FY2017MaterialisedAnnual report
「At STUDIOUS TOKYO Umeda, we worked to put the store on a stable footing soon after opening in April 2015. However, because revenue continued to fall substantially below expectations, we recognized an impairment loss of ¥27.780 million on the tangible fixed assets attributable to the store.」
The decline in profitability below expectations continued at the store, and an impairment loss on fixed assets of ¥27.780 million was recognized in the annual results. - FY2017-Q3First statedAnnual report
「At STUDIOUS TOKYO Umeda, we worked to put the store on a stable footing soon after opening in spring 2014. However, due to a decline in profitability that was substantially below expectations, we conducted an impairment measurement in accordance with the Accounting Standard for Impairment of Fixed Assets and recognized an impairment loss of ¥27.780 million on the tangible fixed assets attributable to the store.」
STUDIOUS TOKYO Umeda experienced a substantial decline in profitability below expectations, and an impairment loss of ¥27.780 million was recognized on its tangible fixed assets.