Risk Related to Deteriorating Asset Profitability and Application of Impairment Accounting
First written in FY2016. 5 of 9 entries say "Restated". Latest entry: FY2023-Q3.
0 other companies' latest entry also says "Restated".
- FY2023-Q3RestatedAnnual report
「There have been no material changes to the assumptions and accounting estimates described in the annual securities report for the previous consolidated fiscal year, including assumptions concerning when the effects of COVID-19 will subside.」
It was stated that there had been no material changes to the assumptions regarding the recoverability of deferred tax assets and impairment testing for fixed assets based on the impact of COVID-19. - FY2023-Q2RestatedAnnual report
「There have been no material changes to the assumptions and accounting estimates described in the annual securities report for the previous consolidated fiscal year, including assumptions concerning when the effects of COVID-19 will subside.」
It was stated that there had been no material changes to the assumptions regarding the recoverability of deferred tax assets and impairment testing for fixed assets based on the expected timing of the containment of COVID-19. - FY2022-Q3RestatedAnnual report
「There were no material changes to the assumptions, including those concerning the timing of the containment of COVID-19, described in the annual securities report for the previous consolidated fiscal year.」
It was stated that there had been no material changes to the accounting estimates based on assumptions including the expected timing of the containment of COVID-19. - FY2022-Q1RestatedAnnual report
「There have been no material changes to the assumptions and accounting estimates described in the annual securities report for the previous consolidated fiscal year, including assumptions concerning when the effects of COVID-19 will subside.」
It was stated that there had been no material changes to the assumptions regarding the recoverability of deferred tax assets and impairment testing for fixed assets based on the expected containment of COVID-19. - FY2021-Q1RestatedAnnual report
「The Group assessed the recoverability of deferred tax assets and whether fixed assets were impaired based on the assumption that net sales would gradually recover from the second quarter of the fiscal year ending March 2021, while the impact would continue into the second half. However, the results based on actual future performance may differ from these estimates and assumptions.」
Based on the impact of COVID-19, the Group assumed a recovery in sales from the second quarter of the fiscal year ending March 2021 and that the impact would remain through the second half, and assessed the recoverability of deferred tax assets and impairment of fixed assets. The disclosure continued to state that actual results could differ from the assumptions. - FY2020WorsenedAnnual report
「The Group prepared its outlook for future operating results and assessed the recoverability of deferred tax assets and whether fixed assets were impaired based on the assumption that the spread of COVID-19 would not become more serious than at present and would gradually subside in the second half of the fiscal year. However, the spread of COVID-19 and its effects are changing from day to day, and actual operating results may differ significantly from the outlook.」
The impact of COVID-19 was incorporated into the assumptions underlying the recoverability of deferred tax assets and impairment testing for fixed assets, indicating that the estimates could differ significantly from actual results. - FY2019MitigatedAnnual report
「No impairment loss was recognized in the current fiscal year on fixed assets related to 東邦化学（上海）有限公司, which was recognized in the previous fiscal year.」
The impairment loss on fixed assets at the Shanghai subsidiary, recognized at ¥693 million in the previous fiscal year, did not recur in the current fiscal year. However, the subsidiary did not achieve full-year profitability, and the disclosure does not state that the profitability risk has been eliminated. - FY2017MaterialisedAnnual report
「東邦化学（上海）有限公司 Shanghai, China Operating assets Machinery and equipment 273」
The Group recognized an impairment loss of ¥273 million on fixed assets on the grounds that, due to the decline in the profitability of 東邦化学（上海）有限公司 and other factors, recovery of the investment was no longer expected. - FY2016First statedAnnual report
「If the fair value of the Group's assets declines significantly, or if the profitability of business assets deteriorates with no prospect of recovery, the Group may recognize impairment losses on the relevant fixed assets under impairment accounting, which could affect its operating results and financial position.」
The Group recognized an impairment loss of ¥9 million during the current fiscal year.