Capital Expenditures and Investments/Financing Falling Short of Plan and Impairment Loss Risk
First written in FY2020. 8 of 15 entries say "Worsened", first in FY2021. Latest entry: FY2026.
ENEOS Holdings moved to the "Worse" side of this theme in 2021, 1 year before the typical company in this theme (2022).
The whole theme swung hardest in 2019: 10 of 27 companies on the "Worse" side.
10 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「Cash and cash equivalents increased by ¥620 billion as a result of operating activities (compared with an increase of ¥576.8 billion in the previous fiscal year).」
Operating cash flow increased from ¥576.8 billion to ¥620 billion, while impairment losses declined from ¥197.8 billion to ¥48 billion. - 2026-05-14MitigatedEarnings
「Impairment losses for the consolidated fiscal year amounted to ¥48,011 million.」
Impairment losses declined from ¥197,806 million in the previous fiscal year to ¥48,011 million, reducing the scale of losses recognized from declines in investment and asset values. - FY2026-H1MitigatedAnnual report
「Cash increased by ¥334.3 billion as a result of operating activities (compared with an increase of ¥127.7 billion in the same period of the previous year).」
Operating cash flow increased from ¥127.7 billion in the same period of the previous year to ¥334.3 billion, indicating improved cash generation capacity related to the risk of declining investment and asset values. - FY2025WorsenedAnnual report
「As the recoverable amount fell below the carrying amount due to a rise in discount rates accompanying higher interest rates and other factors, the Company recognized impairment losses of ¥164.475 billion on consolidated goodwill and related non-current assets.」
The risk of declining investment and asset values materialized as a large-scale impairment loss of ¥164.475 billion, including consolidated goodwill and other assets. - FY2025-H1MitigatedAnnual report
「Impairment losses 18,229 2,093」
Impairment losses for the interim consolidated accounting period declined from ¥18.229 billion in the same period of the previous year to ¥2.093 billion, reducing the scale of losses recognized due to declining investment and asset values. - FY2024MitigatedAnnual report
「Cash increased by ¥1.0103 trillion as a result of operating activities (compared with a decrease of ¥110.2 billion in the previous fiscal year).」
Impairment losses declined from ¥137.2 billion to ¥79.2 billion, while operating cash flow moved from negative in the previous fiscal year to positive ¥1.0103 trillion. - FY2024-Q2WorsenedAnnual report
「Impairment losses 14,913 18,229」
Impairment losses related to the risk of declining investment and asset values increased from ¥14.913 billion in the same period of the previous year to ¥18.229 billion. - FY2023WorsenedAnnual report
「Cumulative free cash flow over the 3-year period fell short of the target of ¥150 billion, with actual free cash flow at negative ¥231.7 billion, mainly due to higher resource prices, yen depreciation and temporary tax payments, despite the implementation of cash flow improvement measures such as additional asset sales and reductions in capital investment and investment and financing.」
Actual free cash flow was negative ¥231.7 billion against the Second Medium-Term Management Plan target of ¥150 billion, showing that investment and cash recovery risk had materialized. - FY2023-Q3WorsenedAnnual report
「Impairment losses 13,286 17,082」
Cumulative impairment losses for the third quarter increased from ¥13.286 billion in the same period of the previous year to ¥17.082 billion, indicating that the risk of declining investment and asset values had intensified. - FY2023-Q2WorsenedAnnual report
「Impairment losses 2,271 14,913」
Cumulative impairment losses for the second quarter increased from ¥2.271 billion in the same period of the previous year to ¥14.913 billion, also rising from ¥9.565 billion in the cumulative first quarter. The risk of declining investment and asset values continues to materialize. - FY2023-Q1WorsenedAnnual report
「Impairment losses 280 9,565」
First-quarter impairment losses increased from ¥280 million in the same period of the previous year to ¥9.565 billion, showing that the risk of declining investment and asset values had materialized again. - FY2022WorsenedAnnual report
「Capital investment over the 3-year period is expected to total ¥1.6 trillion, ¥100 billion above the Second Medium-Term Management Plan, but net cash outflows are expected to decline by approximately ¥110 billion as the Company accelerates the sale of non-core assets and adds ¥210 billion in sale proceeds.」
Capital investment is expected to exceed the medium-term plan by ¥100 billion, making the excess investment plan and cash flow burden more concrete. - FY2021WorsenedAnnual report
「As a result, impairment losses included in other expenses for the consolidated fiscal year amounted to ¥160.038 billion.」
Impairment losses arising from shortfalls in returns or inability to recover capital investments and investments and financing increased to ¥160.038 billion, with the risk increasingly materializing in reported results. - FY2021-Q3MaterialisedAnnual report
「Impairment losses were recorded mainly on assets of the Caserones copper mine business in the metals segment and on refining equipment in connection with SS and refinery restructuring in the energy segment.」
The risk of impairment losses arising from shortfalls in returns or inability to recover capital investments and investments and financing actually materialized through impairment losses related to Caserones, SS and refinery restructuring facilities. - FY2020First statedAnnual report
「Changes in the external environment and other factors may cause actual investment to substantially exceed the planned amount, or prevent the expected returns from being achieved. If, as a result, recovery of the investment in the Group's property, plant and equipment, goodwill and intangible assets is no longer expected, their carrying amounts will be reduced accordingly, with the decrease recognized as an impairment loss.」
The chain of plan overruns, shortfalls in returns, inability to recover investments and impairment was classified as a separate risk associated with ongoing capital investment and investment and financing. The Company recognized ¥113.2 billion in impairment losses in the fiscal year.