Timing shifts in energy-saving construction projects and prolonged negotiations for new contracts
First written in FY2019. 4 of 6 entries say "Materialised", first in FY2019. Latest entry: FY2022-Q3.
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- FY2022-Q3RestatedAnnual report
「As the spread of COVID-19 also affected our group, including through a decline in sales resulting from the postponement of energy-saving construction projects, we have made accounting estimates, including judgments regarding the recoverability of deferred tax assets and impairment accounting for fixed assets, on the assumption that this impact will largely subside during the fiscal year ending May 2022.」
The Company uses as an accounting estimate the assumption that the impact of lower revenue from postponed energy-saving construction projects will continue. - FY2022-Q2MaterialisedAnnual report
「In addition to energy-saving proposals not progressing as expected, construction was postponed because the global semiconductor shortage affected the procurement of the necessary equipment.」
In addition to delays in energy-saving proposals, the impact of the semiconductor shortage on equipment procurement and construction postponements actually occurred. - FY2022-Q1MaterialisedAnnual report
「As the spread of COVID-19 also affected our group, including through a decline in sales resulting from the postponement of energy-saving construction projects, we have made accounting estimates, including judgments regarding the recoverability of deferred tax assets and impairment accounting for fixed assets, on the assumption that this impact will largely subside during the fiscal year ending May 2022.」
The Company disclosed that the impact of lower revenue from postponed energy-saving construction projects also occurred in the current quarter. - FY2021MaterialisedAnnual report
「As the spread of COVID-19 also affected our group, including through a decline in sales resulting from the postponement of energy-saving construction projects, we have made accounting estimates, including judgments regarding the recoverability of deferred tax assets and impairment accounting for fixed assets, on the assumption that this impact will largely subside during the fiscal year ending May 2022.」
The Company disclosed that the impact of lower revenue from postponed energy-saving construction projects continued throughout the fiscal year and assumed that the situation would largely be resolved during the fiscal year ending May 2022. - FY2021-Q1MitigatedAnnual report
「Some energy-saving construction projects and periodic inspections that had been temporarily postponed due to the effects of COVID-19 resumed.」
The Company indicates that some projects and periodic inspections resumed, partially mitigating the impact of energy-saving construction project slippage in the previous fiscal year. It does not mention prolonged negotiations for new total maintenance contracts. - FY2019MaterialisedAnnual report
「This was because many of the high-margin energy-saving construction projects expected for the full year slipped into the following fiscal year or later, while negotiations for new total maintenance contracts were prolonged.」
The Company states that the slippage of high-margin energy-saving construction projects and prolonged negotiations for new total maintenance contracts actually occurred as factors behind the decline in revenue and profit in FY2019.