Risk of Recovering Investment in U.S. Hydrogen Station Business
First written in FY2026-H1. 2 of 2 entries say "Materialised", first in FY2026-H1. Latest entry: FY2026.
Air Water moved to the "Worse" side of this theme in 2026, 3 years after the typical company in this theme (2023).
The whole theme swung hardest in 2022: 11 of 19 companies on the "Worse" side.
5 other companies' latest entry also says "Materialised".
- FY2026MaterialisedAnnual report
「During the current consolidated fiscal year, the management rehabilitation plan formulated in response to FEF's deteriorating financial condition was reflected in fair value and other amounts. The carrying amount of preferred shares, classified as debt instruments, was written down by ¥8,284 million and the carrying amount of long-term loans by ¥3,902 million, with the resulting losses recorded as financial expenses (other financial expenses) in the consolidated statement of profit or loss.」
Regarding investment in the US hydrogen station business, the company recorded full-year write-downs of the carrying values of ¥8,284 million in preferred shares and ¥3,902 million in long-term loans following deterioration in FEF's business performance. - FY2026-H1MaterialisedAnnual report
「During the current interim consolidated accounting period, the business restructuring plan formulated in response to the deterioration in FEF's business conditions was reflected in fair value and other measurements. The carrying amount of the preferred shares (debt financial instruments) was written down by ¥8,230 million and that of long-term loans by ¥3,843 million, with the losses recognized as finance costs in the condensed interim consolidated income statement.」
Regarding the preferred stock investment in and loans to First Element Fuel, Inc., a hydrogen station operator in California, USA, the company reduced the carrying amounts of preferred stock of ¥8.23 billion and long-term loans of ¥3.843 billion in response to deteriorating operating conditions and a rehabilitation plan.