Delay in Business Plan and Decline in Profitability at Middle East Associate
First written in FY2018. 3 of 4 entries say "Mitigated", first in FY2019-Q2. Latest entry: FY2020.
The whole theme swung hardest in 2025: 8 of 12 companies on the "Worse" side.
6 other companies' latest entry also says "Mitigated".
- FY2020MitigatedAnnual report
「In addition to transferring the shares of an operating company in the Middle East and recording a gain on the sale of shares of an affiliate, net income attributable to owners of the parent was ¥18,477 million, up 6.2% year on year, partly because a provision for losses on guarantees of debt had been recorded in the previous fiscal year.」
The shares of the Middle East operating company were transferred on 17 March 2020, reducing the impact of the impairment and amortization burden on the amount equivalent to goodwill and the losses on guarantees of debt incurred in the previous fiscal year. - FY2019MitigatedAnnual report
「Although ordinary profit was affected by higher raw material prices, share of profit of investments accounted for using the equity method increased in the Middle East, mainly because the amortization burden on the amount equivalent to goodwill was eliminated following the impairment loss recognized on that amount in the previous fiscal year, reaching ¥5,398 million, up 1151.3% year on year.」
In the Middle East, the elimination of the amortization burden on the amount equivalent to goodwill increased share of profit of investments accounted for using the equity method, alleviating some of the factors behind the decline in profitability in the previous fiscal year. - FY2019-Q2MitigatedAnnual report
「Although ordinary profit was affected by higher raw material prices, share of profit of investments accounted for using the equity method increased in the Middle East, mainly because the amortization burden on the amount equivalent to goodwill was eliminated, reaching ¥3,388 million, up 27.3% year on year.」
In the Middle East, the elimination of the amortization burden on the amount equivalent to goodwill and other factors increased share of profit of investments accounted for using the equity method, alleviating some of the previous factors behind the decline in profitability. - FY2018MaterialisedAnnual report
「Although the company worked actively to promote sales activities in the Middle East, performance remained weak. In addition, because the business plan was delayed from the original schedule and profitability had declined, the company recognized an impairment loss on the amount equivalent to goodwill, resulting in a substantial decrease in its share of profit of investments accounted for using the equity method.」
Delays in the business plan and lower profitability actually occurred in the Middle East, resulting in an impairment loss on the amount equivalent to goodwill and a substantial decrease in share of profit of investments accounted for using the equity method.