Revenue Decline and Impairment Risk at 株式会社センジュ Due to COVID-19
First written in FY2020-Q2. 5 of 8 entries say "Restated". Latest entry: FY2022.
ItoKuro moved to the "Worse" side of this theme in 2023, 3 years after the typical company in this theme (2020).
The whole theme swung hardest in 2020: 24 of 39 companies on the "Worse" side.
2 other companies' latest entry also says "Worsened".
- FY2022WorsenedAnnual report
「The company had assumed that the impact of the spread of COVID-19 on its performance would generally return to pre-pandemic levels from the fiscal year ending October 2022. However, because the impact of COVID-19 has continued longer than initially expected during the fiscal year ending October 2022, the company now assumes that, although conditions are recovering, the impact will continue for a certain period. This assumption is highly uncertain and may affect the financial statements from the next fiscal year onward.」
The previous assumption of a recovery from the fiscal year ending October 2022 was not realized. The impact of COVID-19 continued longer than initially expected, and the assumption was changed to one that the impact would continue for a certain period despite being on a recovery trend. - FY2022-Q3RestatedAnnual report
「There have been no material changes to the assumptions regarding COVID-19 stated under “Significant Accounting Estimates” in the annual securities report for the previous fiscal year.」
It was stated that there had been no material changes to the accounting assumptions from the previous fiscal year regarding the end of COVID-19 and the subsequent recovery. - FY2022-Q2RestatedAnnual report
「There have been no material changes to the assumptions regarding COVID-19 stated under “Significant Accounting Estimates” in the annual securities report for the previous fiscal year.」
It was stated that there had been no material changes to the accounting assumptions from the previous fiscal year regarding the end of COVID-19 and the subsequent recovery. - FY2022-Q1RestatedAnnual report
「There have been no material changes to the assumptions regarding COVID-19 stated under “Significant Accounting Estimates” in the annual securities report for the previous fiscal year.」
It was stated that there had been no material changes to the accounting assumptions from the previous fiscal year regarding the end of COVID-19 and the subsequent recovery. - FY2021RestatedAnnual report
「The company assumes that conditions will generally return to pre-pandemic levels from the fiscal year ending October 2022. However, this assumption is highly uncertain, and if the timing of the end of the pandemic is prolonged, losses may arise in the future.」
The company reiterated that it assumes a recovery at 株式会社センジュ from the fiscal year ending October 2022, while future losses may arise if the pandemic takes longer to subside. - FY2020Annual recognition of a valuation loss related to 株式会社センジュAnnual report
「As sales at 株式会社センジュ, whose shares were held by the company, declined rapidly from March 2020 following the spread of COVID-19, the company assumed that conditions would generally return to pre-pandemic levels from the fiscal year ending October 2022. Based on its calculation of the recoverable amount, the company recognized an impairment loss during the fiscal year and recorded a ¥471.232 million valuation loss on shares of an affiliated company as an extraordinary loss.」
Based on the calculation of the recoverable amount in light of the decline in 株式会社センジュ's sales, a ¥471.232 million valuation loss on shares of an affiliated company was recognized. It was stated that the company assumes a recovery from the fiscal year ending October 2022, but that this assumption is highly uncertain. - FY2020-Q3RestatedAnnual report
「Following the spread of COVID-19, sales at 株式会社センジュ, a group company, have declined rapidly since March 2020. In calculating the impairment loss on the company's fixed assets, it was assumed that this situation would gradually normalize by the end of the fiscal year ending October 2021 and would generally return to pre-pandemic levels from the fiscal year ending October 2022. As a result, an impairment loss of ¥404.900 million was recognized. This assumption is highly uncertain, and if the timing of the end of the pandemic is prolonged, losses may arise in the future.」
The decline in 株式会社センジュ's sales due to the spread of COVID-19, the assumption of normalization by the end of the fiscal year ending October 2021 and recovery from the fiscal year ending October 2022, the ¥404.900 million impairment loss, and the possibility of future losses if the pandemic is prolonged have been reiterated. - FY2020-Q2MaterialisedAnnual report
「Following the spread of COVID-19, sales at 株式会社センジュ, a group company, have declined rapidly since March 2020. In calculating the impairment loss on the company's fixed assets, it was assumed that this situation would gradually normalize by the end of the fiscal year ending October 2021 and would generally return to pre-pandemic levels from the fiscal year ending October 2022. As a result, an impairment loss of ¥404.900 million was recognized. This assumption is highly uncertain, and if the timing of the end of the pandemic is prolonged, losses may arise in the future.」
It was stated that sales at 株式会社センジュ declined rapidly from March 2020 due to the spread of COVID-19, and that an impairment loss of ¥404.900 million was actually recognized on fixed assets related to the company. The company assumes normalization by the end of the fiscal year ending October 2021 and a recovery from the fiscal year ending October 2022, but states that losses may arise in the future if the pandemic lasts longer than expected.