ALD's Negative Net Worth, Deteriorating Performance and Investment Recovery Risk
First written in FY2017. 3 of 5 entries say "Mitigated", first in FY2018. Latest entry: FY2020.
The whole theme swung hardest in 2019: 7 of 15 companies on the "Worse" side.
0 other companies' latest entry also says "Dropped".
- FY2020DroppedAnnual reportALD's negative net worth, deteriorating performance and investment recovery risk were not explicitly stated in the filing following completion of the transfer of its shares and loan receivables.
- FY2019-Q2MitigatedAnnual report
「During the second quarter, the price adjustment upon execution of the transfer of shares and other assets stipulated in the transfer agreement was completed, and the transfer price and gain or loss on the transfer were finalised.」
Price adjustments related to the transfer of ALD and the finalisation of the gain or loss on the transfer were completed, definitively addressing the risks associated with ALD's negative net worth, deteriorating performance and investment recovery. - FY2019-Q1MitigatedAnnual report
「On 7 June 2018, the company transferred all shares it held in its consolidated Philippine subsidiary, Albay Agro-Industrial Development Corporation, a pulp manufacturer, and the full amount of loans receivable from ALD.」
All shares of ALD and loan receivables were transferred, and ALD was excluded from the scope of consolidation. Measures were implemented to address the risks associated with ALD's negative net worth, deteriorating performance and investment recovery. - FY2018MitigatedAnnual report
「At a meeting of its board of directors held on 7 June 2018, the company resolved to transfer all shares of its Philippine pulp manufacturing subsidiary, Albay Agro-Industrial Development Corporation, or ALD, and all loan receivables held against ALD to SPECIALTY PULP MANUFACTURING, INC. and its affiliated company, and entered into a transfer agreement on the same date.」
During the fiscal year, ALD recorded an impairment loss on property, plant and equipment of ¥848 million, and its negative net worth had expanded to ¥965.770 million as of the end of December 2017. Subsequently, on 7 June 2018, all shares and loan receivables were transferred, addressing the financial and performance risks associated with ALD. - FY2017MaterialisedAnnual report
「For Albay Agro-Industrial Development Corporation, the ratio of sales, excluding intercompany sales, to consolidated sales exceeds 10%. Key financial information: (1) Sales: ¥2,444.117 million; (2) Ordinary loss: ¥325.556 million; (3) Net loss: ¥489.730 million; (4) Net assets: negative ¥161.588 million; (5) Total assets: ¥2,024.298 million. The company had negative net worth, with the negative net worth amounting to ¥161.588 million as of the end of December 2016.」
ALD incurred an ordinary loss of ¥325.556 million, a net loss of ¥489.730 million and negative net worth of ¥161.588 million. The parent company also recorded an impairment loss of ¥1,048.120 million on shares of an affiliated company and an allowance for doubtful accounts of ¥161.588 million against long-term loans to an affiliated company.