Impairment loss on solar power generation assets in Shiwa, Iwate Prefecture
First written in FY2021. . Latest entry: FY2023.
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- FY2023Impairment of solar power generation assets in Kikuchi, Kumamoto PrefectureAnnual report
「For the Kikuchi, Kumamoto Prefecture solar power generation asset group, comprising land and long-term prepaid expenses, the decline in electricity sales due to output curtailment exceeded expectations, making the originally forecast income unattainable and reducing recoverability. The assets were therefore written down to their recoverable amount, with the reduction recognised as an impairment loss under extraordinary losses.」
The company recognised an impairment loss of ¥32.458 million on solar power generation assets in Kikuchi, Kumamoto Prefecture, due to the shortened valuation period following the leaseback and lower electricity sales resulting from output curtailment. - FY2021First statedAnnual report
「Although the Shiwa, Iwate Prefecture solar power generation asset group met the investment criteria established by our group based on an initial 20-year plan, the expected income declined after the solar power generation facilities were sold to a third party and leased back in June 2019, when the valuation period was shortened to 12 years in line with the lease term. In addition, power generation declined more than expected due to adverse weather, causing operating losses to remain negative, and an indication of impairment was identified.」
The company recognised an impairment loss of ¥116.053 million on land, long-term prepaid expenses and other assets related to solar power generation assets in Shiwa, Iwate Prefecture, due to the shortened valuation period and lower power generation caused by adverse weather.