Deterioration in the Performance of 株式会社北栄 and Risk of Loan Collection
First written in FY2017-Q1. 6 of 12 entries say "Restated". Latest entry: FY2020.
The whole theme swung hardest in 2019: 7 of 15 companies on the "Worse" side.
5 other companies' latest entry also says "Restated".
- FY2020RestatedAnnual report
「We have continued to recognize operating losses and net losses attributable to owners of the parent, owing to delays in collecting loans and other receivables from business partners, primarily those with which we have entered into business alliance agreements, and the resulting recognition of an allowance for doubtful accounts, as well as the impact of lower revenue,」
Delays in collecting loans and other receivables from business partners and the recognition of an allowance for doubtful accounts continue to be described as material conditions. - FY2020-Q3RestatedAnnual report
「While advancing the collection of loans and other receivables whose collection has been delayed,」
The company continues to describe the ongoing delays in collecting loans and other receivables from business partners, together with its response of advancing collection efforts. - FY2019RestatedAnnual report
「We have continued to recognize net losses attributable to owners of the parent, owing to delays in collecting loans and other receivables from business partners, primarily those with which we have entered into business alliance agreements, and the resulting recognition of an allowance for doubtful accounts, as well as the impact of lower revenue,」
Delays in collecting loans and other receivables from business partners and the recognition of an allowance for doubtful accounts continue to be cited as material business conditions. - FY2019-Q3WorsenedAnnual report
「Strengthen funding by advancing the collection of loans and other receivables whose collection had been delayed.」
Delays in collecting loans and other receivables from business partners were cited as the background to a material event related to going concern, and the need to advance collection efforts remains. - FY2018RestatedAnnual report
「As a ¥315.125 million allowance for doubtful accounts was recognized as an extraordinary loss on the receivable from 株式会社北栄, net loss attributable to owners of the parent was ¥320.302 million, compared with net loss attributable to owners of the parent of ¥255.123 million in the same period of the previous year.」
The risk of delayed collection of the receivable from 北栄 continued, and recognition of the ¥315.125 million allowance for doubtful accounts was reflected in full-year earnings. The loss recognition described in the previous quarter was reconfirmed for the full year. - FY2018-Q3RestatedAnnual report
「Although the company's business environment remained favorable during the nine months ended the third quarter of the current consolidated fiscal year, it was unable to add vessels and collection of the receivable remained delayed. The vessels are currently operating, and marine sand supplies for large-scale projects are expected to begin during fiscal 2018. Accordingly, the company is preparing to add vessels and will continue working to collect the receivable.」
The company stated that collection of the receivable continued to be delayed even after recognizing a ¥315.125 million allowance for doubtful accounts against the entire receivable from 北栄. It also stated that the vessels were operating, that marine sand supplies were expected to begin during fiscal 2018, and that preparations were under way to add vessels. - FY2018-Q2MaterialisedAnnual report
「During the six months ended the second quarter of the current consolidated fiscal year, we recognized a ¥315.125 million allowance for doubtful accounts on the entire receivable from 株式会社北栄 as an extraordinary loss.」
Delays in collecting the receivable from 北栄 continued, and a ¥315.125 million allowance for doubtful accounts was recognized against the entire receivable. The company also described vessel operations, the expected start of marine sand supplies for large-scale projects in fiscal 2018, and preparations to add vessels, but the collection risk resulted in the recognition of an actual loss. - FY2018-Q1MitigatedAnnual report
「Subsequently, repairs to the vessels were completed and operations resumed in July of the same year. The estimated recoverable amount of our receivable from the company remains unchanged from the end of the previous consolidated fiscal year.」
The disruption to 北栄社's operations caused by the vessel accident was reduced following completion of repairs and the resumption of operations. However, the possibility of recognizing an additional allowance for doubtful accounts on the ¥399.375 million loan remains, and the estimated recoverable amount is unchanged from the end of the previous consolidated fiscal year. - FY2017MaterialisedAnnual report
「The company extracts and sells marine sand in Okinawa Prefecture. However, loan repayments have been delayed because of delays in large-scale projects and repairs to its vessels. Accordingly, the company recognized a ¥188.145 million allowance for doubtful accounts in the fiscal year and recognized an impairment loss of ¥19.950 million on investment securities held by us as an extraordinary loss.」
The deterioration in 北栄社's performance and the risk of delayed repayment materialized, resulting in recognition of a ¥188.145 million allowance for doubtful accounts and a ¥19.950 million impairment loss on investment securities. The company also stated that the impact of the vessel accident on 16 May 2017 on the estimated recoverable amount of the receivable remained undetermined. - FY2017-Q3WorsenedAnnual report
「As of the end of the third quarter of the current fiscal year, the company had made a loan of ¥399.375 million to the company. If its performance deteriorates more than expected, delays in recovering the loan may affect the performance of our group.」
The deterioration in the performance of 株式会社北栄 and the risk of recovering the loans remain explicitly identified. The loan balance increased from ¥353.730 million at the end of the second quarter to ¥399.375 million, indicating greater exposure. - FY2017-Q2RestatedAnnual report
「As of the end of the second quarter of the current fiscal year, the company had made a loan of ¥353.730 million to the company. If its performance deteriorates more than expected, delays in recovering the loan may affect the performance of our group.」
The company continues to explicitly identify deterioration in 株式会社北栄's performance and loan recovery risk. The loan amount is stated as ¥353.730 million, and the risk itself is not described as having been eliminated. - FY2017-Q1First statedAnnual report
「If its performance deteriorates more than expected, delays in recovering the loan may affect the performance of our group.」
Against the backdrop of a ¥354.790 million loan to 株式会社北栄, the company newly identifies deterioration in the partner's performance and delays in loan recovery as business risks.