Factor behind the decline in sales in the following fiscal year due to the separation of the Korean TV business
First written in FY2017-Q3. 7 of 13 entries say "Mitigated", first in FY2021-Q1. Latest entry: FY2022.
Creek & River moved to the "Worse" side of this theme in 2018, 1 year after the typical company in this theme (2017).
The whole theme swung hardest in 2017: 6 of 14 companies on the "Worse" side.
3 other companies' latest entry also says "Mitigated".
- FY2022MitigatedAnnual report
「As a result, the Korean creative business reported revenue of ¥3,468 million (106.1% year on year) and segment profit (operating profit) of ¥0 million (versus a segment loss of ¥49 million in the same period of the previous year).」
Following the Korean TV business becoming a consolidated subsidiary, the Korean creative business improved from a ¥49 million loss in the previous fiscal year to break-even. - FY2022-Q3MitigatedAnnual report
「As a result, the creative field (Korea) reported revenue of ¥2,608 million (106.2% year on year) and segment profit (operating profit) of ¥9 million, compared with a segment loss of ¥46 million in the same period of the previous year.」
The Korean creative business generated a profit of ¥9 million, compared with a ¥46 million loss in the same period of the previous year, demonstrating improved profitability after turning profitable. - FY2022-Q2MitigatedAnnual report
「As a result, the creative field (Korea) reported revenue of ¥1,743 million (104.2% year on year) and segment profit (operating profit) of ¥2 million, compared with a segment loss of ¥15 million in the same period of the previous year.」
The Korean creative field turned from a loss in the same period of the previous year to profit of ¥2 million, further mitigating the earnings impact following the separation and change to equity-method accounting. - FY2022-Q1MitigatedAnnual report
「As a result, the creative field (Korea) reported revenue of ¥895 million (104.0% year on year) and segment profit (operating profit) of ¥1 million, compared with a segment loss of ¥1 million in the same period of the previous year.」
After the Korean TV business became a consolidated subsidiary, the Korean creative field turned from a loss in the same period of the previous year to profit of ¥1 million, mitigating the impact of lower revenue. - FY2021MitigatedAnnual report
「As a result, the creative field (Korea) reported revenue of ¥3,269 million, compared with ¥67 million in the same period of the previous year, and a segment loss (operating loss) of ¥49 million, compared with a segment loss of ¥66 million in the same period of the previous year.」
After CREEK & RIVER ENTERTAINMENT became a consolidated subsidiary, revenue in the Korean creative field increased substantially, and the segment loss narrowed from ¥66 million in the previous year to ¥49 million. - FY2021-Q3MitigatedAnnual report
「As a result, the creative field (Korea) reported revenue of ¥2,455 million, compared with ¥51 million in the same period of the previous year, and a segment loss (operating loss) of ¥46 million, compared with a segment loss of ¥54 million in the same period of the previous year.」
After the TV business became a consolidated subsidiary, revenue in the Korean creative field increased from ¥51 million in the same period of the previous year to ¥2,455 million, while the loss also narrowed. - FY2021-Q1MitigatedAnnual report
「In addition, revenue increased after we reviewed the capital structure of CREEK & RIVER ENTERTAINMENT Co.,Ltd., which operates an agency business for TV stations in Korea, and changed its status to a consolidated subsidiary.」
The decline in revenue associated with the separation of the Korean TV business and its change to an equity-method affiliate was reversed toward recovery after its status changed to a consolidated subsidiary. - FY2019MaterialisedAnnual report
「As a result, the creative field (Korea) reported revenue of ¥31 million (3.2% year on year) and a segment loss (operating loss) of ¥32 million, compared with segment profit of ¥2 million in the previous fiscal year.」
The impact of lower revenue in the Korean TV business associated with CREEK & RIVER ENTERTAINMENT becoming an equity-method affiliate was reflected in the full-year results, which showed revenue of ¥31 million and a segment loss of ¥32 million. - FY2019-Q3MaterialisedAnnual report
「As announced in the "Notice Regarding Change in Sub-subsidiary" dated 29 June 2017, revenue and segment profit for the cumulative third quarter ended to date were below the same period of the previous year because CREEK & RIVER ENTERTAINMENT Co.,Ltd. changed from a consolidated subsidiary of the company to an equity-method affiliate, although initiatives that will contribute to future growth have now fully commenced. As a result, the creative field (Korea) reported revenue of ¥25 million (2.6% year on year) and a segment loss (operating loss) of ¥11 million, compared with segment profit of ¥4 million in the same period of the previous year.」
The impact of lower revenue associated with the Korean TV business becoming an equity-method affiliate continued, resulting in revenue of ¥25 million and a segment loss of ¥11 million. - FY2019-Q2MaterialisedAnnual report
「As announced in the "Notice Regarding Change in Sub-subsidiary" dated 29 June 2017, revenue and segment profit for the cumulative second quarter ended to date were below the same period of the previous year because CREEK & RIVER ENTERTAINMENT Co.,Ltd. changed from a consolidated subsidiary of the company to an equity-method affiliate. As a result, the creative field (Korea) reported revenue of ¥7 million (0.7% year on year) and a segment loss (operating loss) of ¥11 million, compared with segment profit of ¥5 million in the same period of the previous year.」
The impact of lower revenue associated with the Korean TV business becoming an equity-method affiliate continued, resulting in revenue of ¥7 million and a segment loss of ¥11 million. - FY2019-Q1MaterialisedAnnual report
「CREEK & RIVER ENTERTAINMENT Co.,Ltd. changed from a consolidated subsidiary of the company to an equity-method affiliate, resulting in performance below the same period of the previous year. As a result, the creative field (Korea) reported revenue of ¥0 million (0.0% year on year) and a segment loss (operating loss) of ¥6 million, compared with segment profit of ¥7 million in the same period of the previous year.」
The decline in revenue associated with the Korean TV business becoming an equity-method affiliate actually occurred, with revenue in the Korea field at ¥0 million and a segment loss of ¥6 million. - FY2017DroppedAnnual reportThe annual report does not identify the expected decline in revenue next fiscal year associated with the separation of the Korean TV business as a standalone risk.
- FY2017-Q3First statedAnnual report
「CREEK & RIVER ENTERTAINMENT Co.,Ltd. is scheduled to become an equity-method affiliate of CRK following the change in capital structure, which will be a factor behind the decline in revenue in the next fiscal year's results, although the impact on profit will be limited,」
The company stated that the separation of the Korean TV business and its change to an equity-method affiliate are expected to create a factor behind lower revenue in the next fiscal year's results. It explained that the impact on profit will be limited.