Impairment risk due to lower profitability of materials for vehicle interiors and insulation materials
First written in FY2022. 4 of 9 entries say "Worsened", first in FY2024-Q3. Latest entry: 2026-09-28.
No other company in this theme has enough history to compare yet.
- 2026-09-28MitigatedOccurring Fact
「Although we focused on expanding applications beyond vehicles and on thorough cost reductions in response to rising raw-material prices, we determined that it would be difficult to continue production in an environment expected to become even more challenging. Accordingly, we decided to end production at 阿基里斯(佛山)新型材料有限公司 and eliminate the losses.」
The company specified ending production at the Foshan site as a measure to eliminate losses and address declining profitability. - FY2026WorsenedAnnual report
「For fixed assets related to our disaster prevention business, achievement of the earnings assumed in the original business plan has been delayed. As we determined that achieving the plan would take time, we reduced the carrying amount to its recoverable amount and recognized an impairment loss.」
The risk of impairment due to declining profitability extended beyond the vehicle materials, urethane and insulation materials businesses to the disaster prevention business, resulting in an actual impairment loss of ¥905 million. - FY2025WorsenedAnnual report
「At the Chinese subsidiary 阿基里斯（佛山）新型材料有限公司, the sharp change in the automotive market environment made it no longer possible to expect the earnings assumed in the original business plan. As we determined that short-term performance improvement would be difficult, we reduced the carrying amount to its recoverable amount and recognized the decrease as an impairment loss under extraordinary losses.」
Following the previous fiscal year's impairment of the domestic vehicle materials, urethane and insulation materials businesses, an impairment loss of ¥3,256 million was recognized for vehicle materials manufacturing facilities in Foshan, China. - FY2024WorsenedAnnual report
「Our group recognized impairment losses for the following asset groups: Vehicle materials manufacturing facilities in Ashikaga, Tochigi Prefecture, and other locations: machinery, equipment, vehicles and other assets, ¥769 million. Urethane manufacturing facilities in Toyosato, Shiga Prefecture, and other locations: machinery, equipment, vehicles and other assets, ¥3,430 million. Insulation materials manufacturing facilities in Toyosato, Shiga Prefecture, and other locations: machinery, equipment, vehicles and other assets, ¥773 million.」
An impairment loss totaling ¥4,973 million was recognized for vehicle materials, urethane and insulation materials, expanding the scope and scale of the loss from the previous fiscal year's impairment of building materials and insulation materials. - FY2024-Q3WorsenedAnnual report
「Our group recognized impairment losses for the following asset groups: Vehicle materials manufacturing facilities in Ashikaga, Tochigi Prefecture, and other locations: machinery, equipment, vehicles and other assets, ¥769 million. Urethane manufacturing facilities in Toyosato, Shiga Prefecture, and other locations: machinery, equipment, vehicles and other assets, ¥3,430 million. Insulation materials manufacturing facilities in Toyosato, Shiga Prefecture, and other locations: machinery, equipment, vehicles and other assets, ¥773 million.」
An impairment loss totaling ¥4,973 million was recognized for vehicle materials, urethane and insulation materials due to deteriorating profitability and the difficulty of achieving a short-term recovery. The scope expanded from the previous building materials and insulation materials to include urethane and other businesses, and the loss also increased in scale. - FY2023MaterialisedAnnual report
「We determined that there were indications of impairment for asset groups in the domestic building materials (flooring) and insulation materials businesses. Because the total undiscounted future cash flows expected from these asset groups fell below their carrying amounts, we reduced the carrying amounts to their recoverable amounts and recognized an impairment loss.」
An impairment loss totaling ¥1,312 million was incurred on the domestic building materials (flooring) and insulation materials businesses, for which no impairment loss had been recognized in the previous fiscal year. - FY2022First statedAnnual report
「During the consolidated fiscal year, we determined that there were indications of impairment for asset groups in the domestic vehicle interior materials and insulation materials businesses. However, because the total undiscounted future cash flows expected from these asset groups exceeded their carrying amounts, no impairment loss was recognized.」
Although the domestic vehicle interior materials and insulation materials businesses showed indications of impairment due to infectious diseases, the semiconductor shortage and rising raw material prices, no impairment loss was recognized for the current fiscal year for the asset groups relating to vehicle interior materials of ¥825 million and insulation materials of ¥1,956 million.