Declining profitability at overseas production bases
First written in FY2018. 3 of 4 entries say "Materialised", first in FY2018. Latest entry: FY2026.
Mitsuboshi Belting moved to the "Worse" side of this theme in 2018, 2 years before the typical company in this theme (2020).
The whole theme swung hardest in 2023: 17 of 28 companies on the "Worse" side.
20 other companies' latest entry also says "Materialised".
- FY2026MaterialisedAnnual report
「Current consolidated fiscal year MITSUBOSHI BELTING-INDIA PRIVATE LIMITED (India) Belt manufacturing facilities Machinery and equipment, etc. ¥454 million 三ツ星ベルト技研㈱ (Ayabe, Kyoto) Belt manufacturing facilities Machinery and equipment, etc. ¥250 million 三ツ星ベルトコンベヤ㈱ (Komaki, Aichi) Belt manufacturing facilities Machinery and equipment, etc. ¥104 million 三ツ星ベルト工機㈱ (Kobe, Hyogo) Pulley processing facilities Machinery and equipment, etc. ¥61 million MBL (USA) CORPORATION (United States) Belt manufacturing facilities Machinery and equipment, etc. ¥57 million 三ツ星ベルト樹脂㈱ (Komaki, Aichi) Resin product manufacturing facilities Machinery and equipment, etc. ¥4 million」
Impairment losses totaling ¥932 million were recorded at several domestic locations in addition to overseas bases, due to declining profitability and other factors. - FY2025WorsenedAnnual report
「Mitsuboshi Belting India Private Limited (India) Belt manufacturing equipment Machinery and equipment, etc. ¥986 million」
An impairment loss of ¥986 million was recorded on belt manufacturing equipment in India due to declining profitability and the lack of prospects for short-term improvement. - FY2023MaterialisedAnnual report
「Fiscal year ended 31 March 2018 Mitsuboshi Belting India Private Limited: machinery and equipment, etc. ¥153 million Mitsuboshi Poland Spooka Zoo: machinery and equipment, etc. ¥114 million M.B.L. (U.S.A.) Corporation: machinery and equipment, etc. ¥23 million」
Impairment losses were recorded on overseas production bases and other assets due to declining profitability and the lack of expected future cash flows: ¥153 million in India, ¥114 million in Poland, and ¥23 million in the United States. - FY2018MaterialisedAnnual report
「Fiscal year ended 31 March 2018 Mitsuboshi Belting India Private Limited (Maharashtra, India) Belt manufacturing equipment: machinery and equipment, etc. ¥68 million Although the Group groups assets based on its management classifications, the carrying amount of the above assets was reduced to their recoverable amount (memorandum value) because the profitability of operating activities had declined and no short-term improvement in profitability was expected. The resulting reduction was recorded as an impairment loss under extraordinary losses.」
An impairment loss of ¥68 million was recorded on belt manufacturing equipment at the Indian subsidiary due to declining operating profitability and the lack of prospects for short-term improvement.