Significant Doubt Regarding Negative Net Worth and the Going Concern Assumption
First written in FY2016. 3 of 9 entries say "Restated". Latest entry: FY2022.
The whole theme swung hardest in 2020: 2 of 9 companies on the "Worse" side.
0 other companies' latest entry also says "Dropped".
- FY2022DroppedAnnual report
「In addition to strengthening its core and strategic businesses, the Group has established its equity ratio as a key performance indicator, with the aim of improving its financial position and stabilizing its management foundation through reductions in interest-bearing debt and an active capital policy. The target equity ratio is at least 40.0% for the fiscal year ending March 2023, the final year of the medium- to long-term five-year plan. The equity ratio was 39.0% at the end of the current consolidated fiscal year, and progress toward the target is proceeding steadily.」
This annual securities report contains no mention of the previously reported negative net worth or significant doubt regarding the going-concern assumption, and describes improvements in the financial foundation and an increase in the equity ratio. - FY2018-Q3Cited as achievedAnnual report
「These measures have helped stabilize the earnings base, avoid the risk of a cash shortfall as transactions with financial institutions return to normal, and stabilize the financial foundation. The events or circumstances that raised significant doubt about the going-concern assumption have been resolved.」
The company has reconfirmed in the current quarter that the events and circumstances that raised significant doubt about the going-concern assumption have been resolved. - FY2018-Q2AchievedAnnual report
「These measures have helped stabilize the earnings base, avoid the risk of a cash shortfall as transactions with financial institutions return to normal, and stabilize the financial foundation. As of the date of submission of the second-quarter report, the events or circumstances that raised significant doubt about the going-concern assumption had been resolved.」
The company explicitly states that, as of the date of submission of the second-quarter report, the events and circumstances that raised significant doubt about the going-concern assumption had been resolved. - FY2018-Q1MitigatedAnnual report
「In addition to entering into a capital and business alliance with Topre Corporation, the company improved earnings through the Marujun Structural Reform Plan and expanded sales of the precision parts and engineering businesses and research and development activities to support future growth. As a result, the excess liabilities shown in the non-consolidated financial statements were eliminated in the first quarter of the fiscal year ended March 2018.」
The company explicitly states that negative net worth in the non-consolidated financial statements was eliminated in the first quarter of the fiscal year ending March 2018. It states that it is working to stabilize its financial foundation through structural reforms, a capital and business alliance and business expansion, and that no material uncertainty regarding the going-concern assumption has been identified. - FY2017MitigatedAnnual report
「Furthermore, under the capital and business alliance with Topre Corporation announced on 11 May 2017, the company plans to strengthen its equity through a third-party allotment, complement production and mold procurement at its domestic and overseas locations, and promote personnel exchanges and the sharing of management expertise through the dispatch of executives. It has also begun initiatives aimed at strengthening its management structure over the medium to long term. These measures have helped stabilize the earnings base and avoid the risk of a cash shortfall with the continued support of its lending financial institutions, while also enabling the company to stabilize its financial foundation. Accordingly, no material uncertainty regarding the going-concern assumption has been identified.」
Although negative net worth continued at the end of the current consolidated fiscal year, the company describes earnings improvement through structural reforms, support from financial institutions and a third-party allotment to Topre Corporation as measures to stabilize its financial foundation, and explains that no material uncertainty has been identified. - FY2017-Q3RestatedAnnual report
「At the end of the third quarter of the current consolidated fiscal year, the company’s financial foundation remained unstable, as negative net worth continued in the non-consolidated financial statements. Events or circumstances exist that raise significant doubt about the entity’s ability to continue as a going concern.」
Negative net worth in the non-consolidated financial statements continues. The company explains that the risk of a cash shortfall has been avoided through structural reforms, stabilization of the earnings base and continued support from financial institutions, and that no material uncertainty regarding the going-concern assumption has been identified. - FY2017-Q2RestatedAnnual report
「At the end of the second quarter of the current consolidated fiscal year, the company’s financial foundation remained unstable, as negative net worth continued in the non-consolidated financial statements. Events or circumstances exist that raise significant doubt about the entity’s ability to continue as a going concern.」
Negative net worth in the non-consolidated financial statements continues. The company explains that the risk of a cash shortfall has been avoided through various measures and continued support from financial institutions, and that no material uncertainty regarding the going-concern assumption has been identified. - FY2017-Q1RestatedAnnual report
「At the end of the first quarter of the current consolidated fiscal year, the company’s financial foundation remained unstable, as negative net worth continued in the non-consolidated financial statements. Events or circumstances exist that raise significant doubt about the entity’s ability to continue as a going concern.」
Negative net worth in the non-consolidated financial statements continues. The company explains that the risk of a cash shortfall has been avoided through support from its lending financial institutions and other measures, and that no material uncertainty has been identified. - FY2016First statedAnnual report
「Events or circumstances exist that raise significant doubt about the entity’s ability to continue as a going concern, including the existence of negative net worth in the financial statements.」
Net loss attributable to owners of the parent for the fiscal year was ¥3,036 million. The company explains that no material uncertainty has been identified as a result of structural reforms, asset sales and extensions of borrowing repayment dates, among other measures.