Risk of selling existing solar power plants and reallocating assets to high-yield projects
First written in FY2023-Q2. 1 of 4 entries say "Restated". Latest entry: FY2024.
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- FY2024SoftenedAnnual report
「As of the filing date, there are no new plans to sell any of the existing solar power plants.」
The risks of lower electricity sales revenue after the sale of the 9 existing solar power plants and difficulty acquiring reinvestment assets continue, but the disclosure explicitly states that there are no new sale plans. - FY2023RestatedAnnual report
「The 9 solar power plants owned by Prime Solar Godo Kaisha and T&M Solar Godo Kaisha, with a combined generation capacity of approximately 15.3MW, were sold to entities outside the Group on 31 March 2023. Revenue from the sale was recognized during the fourth quarter of the fiscal year.」
The full-year report also confirms completion of the sale of 9 existing solar power plants with a combined capacity of approximately 15.3MW and recognition of the related revenue in the fourth quarter. - FY2023-Q3Sale of 9 plants completedAnnual report
「In March 2023, the sale of 9 solar power plants was completed, and the related revenue was scheduled to be recognized in the fourth quarter of the fiscal year ending June 2023 on a consolidated basis.」
The sale of 9 existing solar power plants was completed in March 2023, and revenue equivalent to the electricity sales proceeds was scheduled to be recognized through the fourth quarter of the fiscal year ending June 2023. - FY2023-Q2First statedAnnual report
「The Group plans to improve its financial position and, through asset recycling, sell some of its existing solar power plants to entities outside the Group after reclassifying them from property, plant and equipment to inventories, with the aim of acquiring high-yield projects centered on onsite PPAs. As of the filing date, the Group has resolved to sell 9 solar power plants. Some of the power plants targeted for sale have high fixed purchase prices under the FIT scheme. Following the sales, revenue equivalent to the electricity sales proceeds from those projects will decline. In addition, if the Group is unable to acquire higher-yield investment assets through the asset recycling process, this may affect the Group's operating results and financial position.」
The Group resolved to sell 9 existing solar power plants and aims to recycle assets into high-yield projects centered on onsite PPAs. It disclosed for the first time the risks of lower electricity sales revenue after the sales and the potential impact on operating results and financial position if it cannot acquire reinvestment assets.