Increase in working capital due to cash settlement
First written in FY2023. 7 of 8 entries say "Restated". Latest entry: FY2026-H1.
1 other company's latest entry also says "Restated".
- FY2026-H1RestatedAnnual report
「Total assets at the end of the six-month period were ¥22,833.960 million, up ¥2,517.833 million from the end of the previous fiscal year. This was mainly because cash and deposits increased by ¥812.279 million through operating activities and accounts receivable increased by ¥1,832.338 million, as transaction volume at the end of the six-month period was not affected by the year-end and New Year holiday decline, while goodwill decreased by ¥117.859 million through amortization.」
Cash and deposits increased by ¥812.279 million and accounts receivable by ¥1,832.338 million. The company continues to disclose asset movements associated with cash settlement and temporary advances. - 2026-05-14RestatedEarnings
「This was mainly because accounts receivable increased by ¥1,652,358 thousand, as transaction volume declines at the end of the fiscal year due to the extended year-end and New Year holiday and the resulting decrease in operating days, whereas no such conditions existed at the end of the quarter, while goodwill decreased by ¥58,929 thousand due to amortization.」
The company explained the increase in accounts receivable in connection with seasonal fluctuations in transaction volume caused by the number of operating days around the year-end and New Year holidays. - FY2025RestatedAnnual report
「In inter-dealer used-car transactions, settlement is generally made in cash within several days to one week after the transaction, and cash is the only settlement method used in the ASNET business. Accordingly, as ASNET transaction volume increases, temporary advances may increase and working capital requirements may rise.」
The company continues to disclose the risk of higher working capital requirements resulting from cash settlement and temporary advances. - FY2025-H1RestatedAnnual report
「Total assets at the end of the six-month period were ¥21,591.699 million, up ¥3,436.919 million from the end of the previous fiscal year. This was mainly because cash and deposits increased by ¥1,547.282 million through operating activities and accounts receivable increased by ¥1,955.853 million, as transaction volume at the end of the six-month period was not affected by the year-end and New Year holiday decline, while goodwill decreased by ¥117.859 million through amortization.」
Cash and deposits increased by ¥1,547.282 million and accounts receivable by ¥1,955.853 million. The company continues to disclose asset movements associated with cash settlement and temporary advances. - FY2024RestatedAnnual report
「In inter-dealer used-car transactions, settlement is generally made in cash within several days to one week after the transaction, and cash is the only settlement method used in the ASNET business. Accordingly, as ASNET transaction volume increases, temporary advances may increase and working capital requirements may rise.」
The company continues to disclose the risk of higher working capital requirements resulting from cash settlement and temporary advances. - FY2024-H1RestatedAnnual report
「Total assets at the end of the six-month period were ¥22,069.875 million, up ¥5,331.695 million from the end of the previous fiscal year. This was mainly because cash and deposits increased by ¥1,834.891 million through operating activities and accounts receivable increased by ¥3,492.657 million as transaction volume declines at the fiscal year-end because of the extended year-end and New Year holiday, while goodwill decreased by ¥118.157 million through amortization.」
Accounts receivable increased by ¥3,492.657 million owing to lower transaction volume during the year-end and New Year holiday period. The relationship between cash settlement, accounts receivable and asset movements was confirmed on a six-month basis. - FY2024-Q1RestatedAnnual report
「Total assets at the end of the first quarter were ¥20,722.739 million, up ¥3,984.559 million from the end of the previous fiscal year. This was mainly because cash and deposits increased by ¥810.128 million through operating activities and accounts receivable increased by ¥3,162.290 million, as transaction volume declines at the fiscal year-end because of the extended year-end and New Year holiday.」
Accounts receivable increased by ¥3,162.290 million owing to lower transaction volume during the year-end and New Year holiday period. Cash and deposits increased by ¥810.128 million, confirming the theme of working-capital and asset movements associated with cash settlement. - FY2023First statedAnnual report
「In inter-dealer used-car transactions, settlement is generally made in cash within several days to one week after the transaction, and cash is the only settlement method used in the ASNET business. Accordingly, as ASNET transaction volume increases, temporary advances may increase and working capital requirements may rise.」
The company identifies the potential for higher working capital requirements as transaction volume increases because settlement is made in cash and temporary advances are required.