Weak aircraft demand due to COVID-19 and inventory valuation risk
First written in FY2021. 2 of 4 entries say "Restated". Latest entry: FY2023-Q3.
The whole theme swung hardest in 2018: 10 of 36 companies on the "Worse" side.
35 other companies' latest entry also says "Restated".
- FY2023-Q3RestatedAnnual report
「There were no significant changes to the assumptions, including those concerning the timing of containment of COVID-19, or to the accounting estimates described in the securities report for the previous fiscal year.」
The company states that there have been no significant changes from the previous fiscal year in the accounting estimates, including the timing of the resolution of COVID-19 and aircraft demand. - FY2023-Q2RestatedAnnual report
「There were no significant changes to the assumptions, including those concerning the timing of containment of COVID-19, or to the accounting estimates described in the securities report for the previous fiscal year.」
The company states that there have been no significant changes from the previous fiscal year in the accounting estimates, including the timing of the resolution of COVID-19 and demand trends. - FY2022WorsenedAnnual report
「The company assumes that COVID-19 will be brought under control in the next consolidated fiscal year and that aircraft demand will gradually recover, and bases its forecast sales volumes on these assumptions. However, the timing of the resolution of the pandemic and its impact on demand trends remain highly uncertain, creating a risk of significantly affecting judgments regarding inventory valuation in the next consolidated fiscal year.」
The inventory valuation loss on aircraft materials increased from ¥15.419 million in the previous year to ¥37.819 million, and the company continues to disclose uncertainty in aircraft demand, including the timing of the resolution of the pandemic and the situation in Ukraine. - FY2021First statedAnnual report
「Demand for aircraft materials has fallen sharply due to the spread of COVID-19. We assume forecast sales volumes on the basis that aircraft demand will gradually recover, but the timing of containment and the impact on demand are highly uncertain and pose a risk of materially affecting judgments concerning inventory valuation in the following consolidated fiscal year.」
The sharp decline in aircraft demand caused by the pandemic is a key assumption in inventory valuation. An inventory write-down of ¥15,419 thousand was also recognized, and uncertainty over the timing of demand recovery has become a specific valuation risk for the following year.