Deteriorating Profitability at European Subsidiary TYK Ltd. and Impairment of Fixed Assets
First written in FY2022. 1 of 3 entries say "Mitigated", first in FY2023. Latest entry: FY2026.
Tyk moved to the "Worse" side of this theme in 2026, 5 years after the typical company in this theme (2021).
The whole theme swung hardest in 2017: 4 of 9 companies on the "Worse" side.
5 other companies' latest entry also says "Materialised".
- FY2026MaterialisedAnnual report
「The refractories manufacturing business operated by the company's subsidiary TYK Ltd. continued to face difficult operating conditions due to rising manufacturing costs, including raw material costs. The company reduced the carrying amount to the recoverable amount and recognized the reduction as an impairment loss under extraordinary losses.」
After determining in the previous fiscal year that recognition of an impairment loss was unnecessary, TYK Ltd. again recognized an impairment loss of ¥17.08 million. Profitability continues to deteriorate as manufacturing costs, including raw material costs, rise. - FY2023MitigatedAnnual report
「For the current consolidated fiscal year, the company compared the carrying amount of the fixed assets of the consolidated subsidiary with undiscounted future cash flows and determined that recognition of an impairment loss was unnecessary.」
After recognizing an impairment loss at TYK Ltd. in the previous fiscal year, the company determined that recognition of an impairment loss on fixed assets was unnecessary in the current fiscal year. - FY2022First statedAnnual report
「At the company's subsidiary TYK Ltd., the gap between the business plan prepared in the previous fiscal year and actual results had widened, and the deficit had expanded. Accordingly, the company determined that there were indications of impairment.」
At TYK Ltd., the gap from the business plan and the deficit both widened, and the company recognized an impairment loss of ¥108.39 million on buildings, kilns, machinery and equipment, and other assets.