Fixed Asset Impairment Losses Due to Higher Fixed Costs and Sluggish Overseas Sales
First written in FY2019. 6 of 12 entries say "Materialised", first in FY2019. Latest entry: FY2026.
Neturen moved to the "Worse" side of this theme in 2019, 3 years before the typical company in this theme (2022).
The whole theme swung hardest in 2022: 5 of 6 companies on the "Worse" side.
5 other companies' latest entry also says "Materialised".
- FY2026MaterialisedAnnual report
「At Neturen (China) Bearing Co., Ltd. (consolidated subsidiary), the company is proceeding with a plant relocation at the request of the Chinese government. As the timing of the relocation has now been finalized, the carrying amount of assets that will no longer be needed following the plant closure was reduced, and the reduction was recorded as an impairment loss under extraordinary losses. The breakdown of impairment losses by asset category was ¥257 million for buildings and structures.」
The relocation and closure of the plant at the request of the Chinese government resulted in ¥257 million in impairment losses on buildings and structures. - 2026-05-13MitigatedEarnings
「Meanwhile, profit attributable to owners of the parent was ¥1,329 million, down 26.8% year on year, partly because an impairment loss on fixed assets of ¥257 million was recorded as an extraordinary loss, while a gain on the sale of investment securities of ¥1,217 million had been recorded as an extraordinary gain in the previous consolidated fiscal year.」
While the impairment loss on fixed assets declined from ¥712 million in the previous fiscal year to ¥257 million in the current fiscal year, an impairment loss was recorded again this fiscal year. - FY2025MaterialisedAnnual report
「For all of the above asset groups, the carrying amounts of the fixed assets were reduced to their recoverable amounts, and the reduction of ¥712 million was recorded as an impairment loss under extraordinary losses.」
Impairment losses on fixed assets totaling ¥712 million were recorded at the Kani Plant (¥479 million) and Kani NH Plant (¥233 million). The stated factors included the end of production for certain mass-market vehicle models, the bankruptcy of an overseas customer for motorcycle parts, and lower orders from certain customers. - FY2024MitigatedAnnual report
「No impairment losses were recorded for the consolidated fiscal year.」
No new impairment losses on fixed assets were recorded for the consolidated fiscal year, following the ¥1,852 million recorded in the previous fiscal year. - FY2024-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company states that there have been no material changes to existing risks, including impairment losses on fixed assets due to higher fixed costs and sluggish overseas sales. - FY2024-Q1RestatedAnnual report
「During the three-month period ended 30 June, there were no new risks that management recognizes as having the potential to materially affect the financial position, operating results or cash flows of the consolidated companies, and no material changes to the business risks described in the annual securities report for the previous fiscal year.」
The company states that there have been no material changes to existing risks, including impairment losses on fixed assets due to higher fixed costs and sluggish overseas sales. - FY2023MaterialisedAnnual report
「For all of the above asset groups, the carrying amounts of the fixed assets were reduced to their recoverable amounts, and the reduction of ¥1,852 million was recorded as an impairment loss under extraordinary losses.」
Impairment losses on fixed assets were recorded at the Kariya Plant (¥648 million), Kani NH Plant (¥705 million), Neturen Czech (¥413 million), and Yancheng Neturen (¥85 million). The stated factors included component shortages, the situation in Ukraine, and idle equipment. - FY2022MaterialisedAnnual report
「At the company's Okayama Plant and Kyushu Neturen Co., Ltd. (consolidated subsidiary), profitability of fixed assets declined due to the effects of stagnant production caused by tight supply and demand for components such as semiconductors amid the global spread of COVID-19, as well as concerns about higher resource and energy prices resulting from the situation in Ukraine in future business plans. Accordingly, the carrying amounts of the fixed assets were reduced to their recoverable amounts, and the reduction of ¥241 million was recorded as an impairment loss under extraordinary losses.」
Concerns about tight semiconductor supply and demand and higher resource and energy prices materialized as ¥241 million in impairment losses on fixed assets at the Okayama Plant and Kyushu Neturen. - FY2022-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company states that there have been no material changes to existing business and other risks, including impairment losses on fixed assets due to higher fixed costs and sluggish overseas sales. - FY2021-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company states that there have been no material changes to existing business and other risks, including impairment losses on fixed assets due to higher fixed costs and sluggish overseas sales. - FY2020MaterialisedAnnual report
「At the company's Ibaraki Plant, performance had been recovering as cost-reduction initiatives progressed, but impairment losses were recorded because the spread of COVID-19 was expected to make a decline in orders unavoidable and profitability had declined. At the company's Kobe Plant, impairment losses were recorded for one heat-treatment unit that had become idle because orders from the construction machinery industry remained sluggish.」
Impairment losses of ¥172 million at the Ibaraki Plant and ¥16 million at the Kobe Plant, totaling ¥188 million, were recorded. The stated factors were the expected decline in orders due to COVID-19 and continued sluggish orders from the construction machinery industry. - FY2019MaterialisedAnnual report
「At the company's Okayama and Ibaraki plants, profitability of fixed assets declined because fixed costs such as personnel expenses increased more than expected. At Neturen Mexico, S.A. de C.V. (consolidated subsidiary) and PT. Neturen Indonesia (consolidated subsidiary), sales were more sluggish than expected. Accordingly, the carrying amounts of the fixed assets were reduced to their recoverable amounts, and the reduction of ¥1,950 million was recorded as an impairment loss under extraordinary losses.」
Impairment losses on fixed assets were recorded at the Okayama Plant (¥1,141 million), Ibaraki Plant (¥448 million), Neturen Mexico (¥314 million), and PT. Neturen Indonesia (¥46 million), with higher fixed costs and sluggish overseas sales materializing as actual losses.