Decline in Store Asset Profitability and Impairment
First written in FY2019. 3 of 3 entries say "Materialised", first in FY2019. Latest entry: FY2021.
Adventure moved to the "Worse" side of this theme in 2019, 2 years after the typical company in this theme (2017).
The whole theme swung hardest in 2024: 19 of 32 companies on the "Worse" side.
11 other companies' latest entry also says "Materialised".
- FY2021MaterialisedAnnual report
「During the consolidated fiscal year, the Group reduced the carrying amounts of fixed assets and other assets related to operating stores held by its consolidated subsidiary Cosmic Distribution Industry in the consumer business to their recoverable amounts, and recognised an impairment loss of ¥6.122 million in 'Other expenses' in the consolidated statement of profit or loss. ... An impairment loss of ¥3.099 million was also recognised on right-of-use assets.」
The decision to exit the store and declining profitability resulted in impairment losses of ¥6.122 million on fixed assets and ¥3.099 million on right-of-use assets. - FY2020MaterialisedAnnual report
「During the consolidated fiscal year, the Group reduced the carrying amounts of fixed assets and other assets related to operating stores held by its consolidated subsidiaries Gallery Rare and Cosmic Distribution Industry in the consumer business to their recoverable amounts, and recognised an impairment loss of ¥88,955 million in 'Other expenses' in the consolidated statement of profit or loss.」
Declining profitability and impairment of store assets continued to occur, and impairment losses were recognised on fixed assets and other assets related to operating stores of Gallery Rare and Cosmic Distribution Industry. - FY2019MaterialisedAnnual report
「During the consolidated fiscal year, the Group recognised impairment losses on buildings, tools, furniture and fixtures, and other assets used as store assets.」
The Group determined that certain store assets in the consumer business had low recoverability based on future cash flows and recognised an impairment loss of ¥31.065 million.