Upfront costs at the Tianjin subsidiary
First written in FY2017-Q1. 2 of 6 entries say "Restated". Latest entry: FY2027-H1.
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- FY2027-H1MaterialisedAnnual report
「Current interim consolidated accounting period (1 March 2026 to 31 August 2026): In connection with the dissolution and progress of liquidation procedures for Tianjin Molykote Technology Co., Ltd., the company recognized an inventory valuation loss of ¥22 million, an impairment loss of ¥294 million and an addition to the provision for losses on the liquidation of affiliates of ¥68 million.」
Losses associated with the dissolution and liquidation of the Tianjin subsidiary increased, with the company recognizing an inventory valuation loss of ¥22 million, an impairment loss of ¥294 million and an addition to the provision for liquidation losses of ¥68 million. - FY2026MaterialisedAnnual report
「At a meeting of the Board of Directors held on 12 December 2025, the Company resolved to dissolve its consolidated subsidiary, 天津莫莱斯柯科技有限公司. During the fiscal year, the Company recorded ¥61 million as a provision for losses on the liquidation of an affiliated company under extraordinary losses.」
The Company recorded ¥61 million as a provision for losses on the liquidation of an affiliated company, representing the estimated loss associated with the dissolution and liquidation of the Tianjin subsidiary. - FY2017RestatedAnnual report
「As a result, segment revenue was ¥2,931 million, up 1.5% year on year, but segment profit was limited to ¥272 million, down 5.0%, due mainly to higher costs associated with the Tianjin subsidiary's operations.」
The increase in costs associated with the operation of the Tianjin subsidiary continues to weigh on profit in the China segment. - FY2017-Q3RestatedAnnual report
「As a result, segment sales amounted to ¥2,054 million, down 3.1% year on year. Due mainly to higher costs associated with the operations of the Tianjin subsidiary and other factors, segment profit was limited to ¥189 million, down 19.5% year on year.」
The increase in costs associated with the operation of the Tianjin subsidiary continues to weigh on profit in the China segment. - FY2017-Q2WorsenedAnnual report
「As a result, segment sales amounted to ¥1,361 million, up 1.0% year on year. However, due mainly to higher costs associated with the operations of the Tianjin subsidiary, segment profit was limited to ¥107 million, down 27.2% year on year.」
Higher costs associated with the operations of the Tianjin subsidiary continued, resulting in China segment profit declining 27.2% year on year. - FY2017-Q1First statedAnnual report
「In China, sales of specialty lubricants remained firm as signs of a recovery in automobile production began to emerge following tax cuts. However, because costs were incurred ahead of revenue at the Tianjin subsidiary, which began operations the previous year, profit declined overall in China.」
Upfront costs associated with the Tianjin subsidiary's operations have actually emerged as a factor reducing profit in the China segment.