Increase in Estimated Cost of Removing Asbestos from Factory Buildings
First written in FY2022-Q1. 1 of 4 entries say "Materialised", first in FY2022-Q1. Latest entry: FY2022.
The whole theme swung hardest in 2021: 3 of 9 companies on the "Worse" side.
7 other companies' latest entry also says "Other".
- FY2022Update to profit impactAnnual report
「The increase of ¥399 million resulting from this estimate revision was added to the asset retirement obligation balance before the revision. As a result of the revision, operating income, ordinary income, and profit before income taxes for the consolidated fiscal year decreased by ¥37 million.」
Regarding the additional recognition of a ¥399 million asset retirement obligation resulting from the revised estimate of asbestos removal costs, the impact of the decrease in cumulative annual profit has been updated to ¥37 million. - FY2022-Q3Update to profit impactAnnual report
「As a result of the estimate revision, operating income, ordinary income, and profit before income taxes for the cumulative third-quarter period decreased by ¥28 million.」
Regarding the additional recognition of a ¥399 million asset retirement obligation resulting from the revised estimate of asbestos removal costs, the impact of the decrease in cumulative third-quarter profit has been updated to ¥28 million. - FY2022-Q2RestatedAnnual report
「The increase of ¥399 million resulting from this estimate revision was added to the asset retirement obligation balance before the revision. As a result of the revision, operating income, ordinary income, and profit before income taxes for the cumulative second-quarter period decreased by ¥18 million.」
The company reconfirms the additional recognition of a ¥399 million asset retirement obligation resulting from the revised estimate of asbestos removal costs and the ¥18 million impact from the resulting decrease in profit. - FY2022-Q1MaterialisedAnnual report
「Based on cost reductions from improved productivity across the Group, optimization of the production structure and the promotion of solvent-free processes, the enforcement during the consolidated fiscal year of a law partially amending the Air Pollution Control Act, and recent actual asbestos removal costs, the company conducted another investigation into asbestos contained in factory buildings. After obtaining new information on asbestos removal costs from the contractor, the company revised its estimate of those costs. The resulting increase of ¥399 million was added to the asset retirement obligation balance before the revision.」
The estimate of asbestos removal costs for factory buildings was revised based on a renewed investigation and new information, increasing the asset retirement obligation by ¥399 million.