Impairment loss on fixed assets associated with the relocation of a business site

「At our consolidated subsidiary 東莞百楽仕汽車精密配件有限公司, the carrying amount of assets was reduced to their recoverable amount due to declining profitability, and the reduction was recorded as an impairment loss. At our consolidated subsidiary パイオラックス リミテッド, the carrying amount of property, plant and equipment that is not expected to be used following future production reallocation was reduced to its memorandum value, and the reduction was recorded as an impairment loss.」

「During the current consolidated fiscal year, the Company reduced to their memorandum value the carrying amount of assets that lost their expected future use following the relocation to a new plant, as well as assets that lost their expected future use following the decision to relocate its subsidiary ㈱ピーエムティー, and recognised an impairment loss of ¥67 million.」

「In the “Automotive-related and other” segment, following the decision to relocate the Company’s consolidated subsidiary ㈱ピーエムティー, the Company reduced the carrying amount of assets that lost their expected future use to their recoverable amount and recorded the reduction as an impairment loss under extraordinary losses. The impairment loss recognised during the cumulative third quarter of the current consolidated fiscal year was ¥23 million in the “Automotive-related and other” segment.」

「In corporate assets not allocated to each reporting segment, the recoverable amount of the Company’s employee welfare facilities classified as idle assets fell below their carrying amount. The Company therefore reduced their carrying amount to the recoverable amount and recorded the reduction as an impairment loss under extraordinary losses. The impairment loss recognised during the cumulative third quarter of the current consolidated fiscal year was ¥34 million for corporate assets not allocated to each reporting segment.」

「In corporate assets not allocated to each reporting segment, the recoverable amount of the Company’s employee welfare facilities classified as idle assets fell below their carrying amount. The Company therefore reduced their carrying amount to the recoverable amount and recorded the reduction as an impairment loss under extraordinary losses. The impairment loss recognised during the cumulative second quarter of the current consolidated fiscal year was ¥34 million for corporate assets not allocated to each reporting segment.」

「In the “Automotive-related and other” segment and in corporate assets not allocated to each reporting segment, the Company reduced the carrying amount of assets that lost their expected future use following the decision to demolish the Company’s head office building to their recoverable amount, and recorded the reduction as an impairment loss under extraordinary losses. The impairment loss recognised during the cumulative second quarter of the current consolidated fiscal year was ¥46 million in the “Automotive-related and other” segment and ¥136 million in corporate assets not allocated to each reporting segment.」

「In the “Automotive-related and other” segment and in corporate assets not allocated to each reporting segment, the Company reduced the carrying amount of assets that lost their expected future use following the decision to demolish the Company’s head office building to their recoverable amount, and recorded the reduction as an impairment loss under extraordinary losses. The impairment loss recognised during the cumulative second quarter of the current consolidated fiscal year was ¥46 million in the “Automotive-related and other” segment and ¥136 million in corporate assets not allocated to each reporting segment.」

「Following the relocation of the Company’s facilities and those of its consolidated subsidiary, ㈱パイオラックス メディカル デバイス, the Company reduced the carrying amount of assets for which no future use had been determined to their memorandum value and recorded the reduction as an impairment loss under extraordinary losses.」

「The impairment loss recognised during the cumulative third quarter of the current consolidated fiscal year was ¥143 million in the “Automotive-related and other” segment and ¥8 million in the “Medical Equipment” segment.」

「In the “Automotive-related and other” and “Medical Equipment” segments, the Company reduced the carrying amount of assets for which no future use had been determined, following the relocation of the Company’s facilities and those of its consolidated subsidiary, ㈱パイオラックスメディカルデバイス, to their memorandum value. The reduction was recorded as an impairment loss under extraordinary losses. The impairment loss recognised during the cumulative second quarter of the current consolidated fiscal year was ¥143 million in the “Automotive-related and other” segment and ¥8 million in the “Medical Equipment” segment.」