Claims and Loss Allocation Risk Related to the Shitomogawa Water Purification Center Construction Project
First written in FY2017-Q1. 10 of 18 entries say "Restated". Latest entry: FY2025.
Nippon Concrete Industries moved to the "Worse" side of this theme in 2023.
0 other companies' latest entry also says "Mitigated".
- FY2025MitigatedAnnual report
「For the consolidated fiscal year (from 1 April 2024 to 31 March 2025), there were no applicable items.」
It is stated that no new claim-related loss on contract work from prior years was recorded during the current consolidated fiscal year. - FY2024-Q3MaterialisedAnnual report
「A claim-related loss of ¥13.964 million on contract work from prior years has been recorded.」
A claim-related loss of ¥13.964 million on contract work from prior years has been recorded, and losses arising from construction claims and loss-bearing obligations continue to be recorded. - FY2024-Q1MaterialisedAnnual report
「A claim-related loss of ¥13.964 million on contract work from prior years has been recorded.」
A claim-related loss of ¥13.964 million on contract work from prior years has been recorded as a non-operating expense, and losses arising from construction claims and loss-bearing obligations continue to be recorded. - FY2023-Q3MaterialisedAnnual report
「A claim-related loss of ¥80 million on contract work from prior years has been recorded.」
A claim-related loss of ¥80 million on contract work from prior years has been recorded as a non-operating expense, and the risk of construction claims and loss-bearing obligations has materialized as a recorded loss. - FY2020-Q2MaterialisedAnnual report
「On 21 October 2019, the Tsu District Court issued a judgment ordering payment of ¥81,667 thousand in damages plus default interest calculated at an annual rate of 6% from 24 April 2008 until payment. Our company appealed the judgment to the Nagoya High Court on 25 October 2019. The judgment included a declaration of provisional execution, and our company deposited ¥100,000 thousand with the Legal Affairs Bureau on 29 October of the same year to avoid provisional execution.」
With respect to the litigation that remained pending after the settlement, a damages judgment was issued, our company appealed, and it deposited ¥100 million to avoid provisional execution. - FY2020-Q1RestatedAnnual report
「Mie Prefecture awarded the project titled “Chusei Coastal Regional Sewerage System (Shitomo River Treatment District), Shitomo River Water Reclamation Center North Water Treatment Facility (Civil Engineering) Construction Project” to the Fujita, 日本土建 and アイケーディー specific joint venture (JV), and our company undertook the project from the JV. Construction was temporarily suspended because a claim arose. Although discussions had been held regarding the amounts to be borne by our company and the JV for losses incurred by the JV, a settlement was reached on 14 May 2019. In addition, litigation with 日本土建株式会社 relating to the above project remains pending.」
Although the loss-sharing discussions resulted in a settlement, related litigation remains pending, and it is not stated that the risk has been fully resolved. - FY2019MitigatedAnnual report
「Although discussions had been held regarding the amounts to be borne by our company and the JV for losses incurred by the JV, a settlement was reached on 14 May 2019. Our company has recorded the amount of losses expected to arise from the settlement as a provision for construction contract losses. In addition, litigation with 日本土建株式会社 relating to the above project remains pending.」
The loss-sharing discussions were partially resolved when a settlement was reached on 14 May 2019, but the provision for construction contract losses and pending litigation remain. - FY2019-Q3RestatedAnnual report
「Discussions are continuing regarding the amounts to be borne by our company and the JV for losses incurred by the JV. Until an agreement is executed concerning the respective loss-sharing amounts, Fujita Corporation, the JV's representative, has withheld payment of ¥157,536 thousand in accounts receivable owed by Fujita Corporation to our company in connection with other projects.」
Discussions on loss sharing for the Shitomo River Water Reclamation Center project and the withholding of payment of ¥157,536 thousand in accounts receivable continue. - FY2019-Q2RestatedAnnual report
「Discussions are continuing regarding the amounts to be borne by our company and the JV for losses incurred by the JV. Until an agreement is executed concerning the respective loss-sharing amounts, Fujita Corporation, the JV's representative, has withheld payment of ¥157,536 thousand in accounts receivable owed by Fujita Corporation to our company in connection with other projects.」
Discussions on loss sharing for the Shitomo River Water Reclamation Center project and the withholding of payment of ¥157,536 thousand in accounts receivable, with the possibility of partial non-recovery, continue. - FY2019-Q1RestatedAnnual report
「Our company has recorded the amount of losses expected to arise from the project as a provision for construction contract losses. Depending on the terms of the agreement, however, part of the ¥157,536 thousand in accounts receivable related to the other projects mentioned above may be offset and may not be recoverable.」
Recording of a provision for losses on the Shitomo River Water Reclamation Center project and the possibility that part of the ¥157,536 thousand in accounts receivable may be unrecoverable continue. - FY2018RestatedAnnual report
「Our company has recorded the amount of losses expected to arise from the project as a provision for construction contract losses. Depending on the terms of the agreement, however, part of the ¥157,536 thousand in accounts receivable related to the other projects mentioned above may be offset and may not be recoverable.」
For the Shitomo River Water Reclamation Center project, recording of a provision for construction contract losses and the possibility that part of the ¥157,536 thousand in accounts receivable may be unrecoverable continue. - FY2018-Q3RestatedAnnual report
「Our company has recorded the amount of losses expected to arise from the project as a provision for construction contract losses. Depending on the terms of the agreement, however, part of the ¥157,536 thousand in accounts receivable related to the other projects mentioned above may be offset and may not be recoverable.」
For the Shitomo River Water Reclamation Center project, recording of a provision for construction contract losses and the possibility that part of the ¥157,536 thousand in accounts receivable may be unrecoverable continue. - FY2018-Q2RestatedAnnual report
「Our company has recorded the amount of losses expected to arise from the project as a provision for construction contract losses. Depending on the terms of the agreement, however, part of the ¥157,536 thousand in accounts receivable related to the other projects mentioned above may be offset and may not be recoverable.」
For the Shitomo River Water Reclamation Center project, recording of a provision for construction contract losses and the possibility that part of the ¥157,536 thousand in accounts receivable may be unrecoverable continue. - FY2018-Q1RestatedAnnual report
「Our company has recorded the amount of losses expected to arise from the project as a provision for construction contract losses. Depending on the terms of the agreement, however, part of the ¥157,536 thousand in accounts receivable related to the other projects mentioned above may be offset and may not be recoverable.」
For the Shitomo River Water Reclamation Center project, recording of a provision for construction contract losses and the possibility that part of the ¥157,536 thousand in accounts receivable may be unrecoverable continue. - FY2017RestatedAnnual report
「Our company has recorded the amount of losses expected to arise from the project as a provision for construction contract losses. Depending on the terms of the agreement, however, part of the ¥157,536 thousand in accounts receivable related to the other projects mentioned above may be offset and may not be recoverable.」
For the Shitomo River Water Reclamation Center project, recording of a provision for construction contract losses and the possibility that part of the ¥157,536 thousand in accounts receivable may be unrecoverable continue. - FY2017-Q3WorsenedAnnual report
「Our company has recorded the amount of losses expected to arise from the project as a provision for construction contract losses. Depending on the terms of the agreement, however, part of the ¥157,536 thousand in accounts receivable related to the other projects mentioned above may be offset and may not be recoverable.」
It newly explicitly states that a provision has been recorded for expected losses on the Shitomo River Water Reclamation Center project and that part of the ¥157.536 million in accounts receivable may be unrecoverable. - FY2017-Q2RestatedAnnual report
「Construction was temporarily suspended because a claim arose. Discussions are continuing regarding the amounts to be borne by our company and the JV for losses incurred by the JV. Until an agreement is executed concerning the respective loss-sharing amounts, Fujita Corporation, the JV's representative, has withheld payment of ¥157,536 thousand in accounts receivable owed by Fujita Corporation to our company in connection with other projects.」
The claim, temporary suspension, loss-sharing discussions and withholding of ¥157.536 million in accounts receivable payments related to the Shitomo River Water Reclamation Center project continue. - FY2017-Q1First statedAnnual report
「Mie Prefecture awarded the project titled “Chusei Coastal Regional Sewerage System (Shitomo River Treatment District), Shitomo River Water Reclamation Center North Water Treatment Facility (Civil Engineering) Construction Project” to the Fujita, 日本土建 and アイケーディー specific joint venture (JV), and our company undertook the project from the JV. Construction was temporarily suspended because a claim arose. Discussions are continuing regarding the amounts to be borne by our company and the JV for losses incurred by the JV. Until an agreement is executed concerning the respective loss-sharing amounts, Fujita Corporation, the JV's representative, has withheld payment of ¥157,536 thousand in accounts receivable owed by Fujita Corporation to our company in connection with other projects.」
A construction claim and temporary suspension occurred, and payment of ¥157,536 thousand in accounts receivable has been withheld while loss-sharing discussions continue.