Deteriorating Performance of Indonesian Subsidiary and Impairment of Fixed Assets
First written in FY2019-Q2. 2 of 4 entries say "Restated". Latest entry: FY2020.
The whole theme swung hardest in 2017: 4 of 9 companies on the "Worse" side.
6 other companies' latest entry also says "Restated".
- FY2020RestatedAnnual report
「For the consolidated fiscal year, with regard to the impact of the novel coronavirus disease, as of the filing date there had been no material impact on the company's orders or sales activities. Accordingly, when assessing impairment of fixed assets at the time of preparing this annual securities report, we used available information based on the assumption that conditions would gradually normalise and recover over the course of the following consolidated fiscal year.」
For the Indonesian subsidiary, no additional portion of the ¥720 million impairment loss recognised in the previous fiscal year was recorded in the current fiscal year, while the impairment assessment and related uncertainty based on an assumed future recovery in demand were disclosed. - FY2019MaterialisedAnnual report
「During the consolidated fiscal year, we reviewed the business plan of PT.Shinto Paint Manufacturing Indonesia, a consolidated subsidiary. As the profitability initially anticipated could no longer be expected, the carrying amount of the relevant asset group was reduced to its recoverable amount, and the decrease of ¥720 million was recognised as an impairment loss under extraordinary losses.」
For the Indonesian subsidiary, the initially anticipated profitability could no longer be expected, and an impairment loss of ¥720 million, including ¥344 million for buildings and ¥375 million for machinery and equipment, was finalised in the annual results. - FY2019-Q3RestatedAnnual report
「During the nine-month period of the current consolidated fiscal year, the Company recorded a ¥720 million impairment loss on fixed assets at its Indonesian subsidiary under extraordinary losses, resulting in a quarterly net loss attributable to owners of the parent of ¥379 million.」
An impairment loss of ¥720 million associated with deteriorating performance at the Indonesian subsidiary was confirmed in the nine months ended 31 December. No additional impairment amount was disclosed. - FY2019-Q2First statedAnnual report
「During the second quarter of the current consolidated fiscal year, the carrying amounts of the following asset groups were reduced to their recoverable amounts due to the deterioration in the performance of our consolidated subsidiary PT.Shinto Paint Manufacturing Indonesia and other factors. The resulting reduction of ¥720 million was recorded as an impairment loss under extraordinary losses.」
Due to deteriorating performance at an Indonesian subsidiary, an impairment loss of ¥720 million was actually recognised on buildings, machinery and equipment at the plant. This was also a factor in the quarterly net loss attributable to owners of the parent of ¥534 million.