Cost and cash flow volatility risk arising from on-site problems in large-scale offshore survey operations, weather-related standby costs and other factors
First written in FY2023. 2 of 3 entries say "Restated". Latest entry: FY2025.
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- FY2025RestatedAnnual report
「The marine survey division, which is currently steadily increasing sales, generally receives large orders on a per-project basis. At the same time, it faces substantial uncertainty regarding expenses such as standby costs due to severe weather, and therefore tends to have a significant impact on borrowings (interest-bearing debt) and cash flow.」
The disclosure continues to identify the risk that large projects in the marine survey division and standby costs due to severe weather and other factors could have a significant impact on borrowings and cash flow. - FY2024RestatedAnnual report
「The marine survey division, which is currently steadily increasing sales, generally receives large orders on a per-project basis. At the same time, it faces substantial uncertainty regarding expenses such as standby costs due to severe weather, and therefore tends to have a significant impact on borrowings (interest-bearing debt) and cash flow.」
The disclosure continues to identify the risk that uncertainty regarding standby costs due to severe weather and other factors in large-scale offshore survey operations could have a significant impact on borrowings and cash flow. - FY2023First statedAnnual report
「This was due to a deterioration in the government procurement environment from around the fourth quarter of the 72nd fiscal period, as well as persistently high costs associated with on-site problems in large-scale offshore survey operations. The marine survey division, which is currently steadily increasing sales, generally receives large orders on a per-project basis. At the same time, it faces substantial uncertainty regarding expenses such as standby costs due to severe weather, and therefore tends to have a significant impact on borrowings (interest-bearing debt) and cash flow.」
The disclosure identifies persistently high costs caused by on-site problems in large-scale offshore survey operations as an actual factor behind the decline in profit in the 73rd fiscal period, and also refers to the impact of large projects and standby costs due to severe weather in the marine survey division on borrowings and cash flow.