Impairment Risk at Overseas Bases and on Overseas Assets
First written in FY2017-Q2. 3 of 9 entries say "Materialised", first in FY2017-Q2. Latest entry: FY2019.
Smc moved to the "Worse" side of this theme in 2016, 3 years before the typical company in this theme (2019).
The whole theme swung hardest in 2020: 13 of 15 companies on the "Worse" side.
2 other companies' latest entry also says "Restated".
- FY2019RestatedAnnual report
「For the current consolidated fiscal year (1 April 2018 to 31 March 2019), there were no applicable matters.」
No additional impairment loss was recognized on overseas assets during the current period. However, no improvement in or elimination of the asset value or the risk itself was reported. - FY2019-Q3RestatedAnnual report
「For the cumulative third quarter of the current consolidated fiscal year (1 April 2018 to 31 December 2018), there were no applicable matters.」
No impairment loss was recognized on overseas assets during the cumulative third quarter of the current consolidated fiscal year. As in the previous quarter, no additional impairment was reported, but no improvement in or elimination of the asset value or the risk itself was indicated. - FY2019-Q2No additional impairment loss was recognized during the quarter.Annual report
「For the cumulative second quarter of the current consolidated fiscal year (1 April 2018 to 30 September 2018), there were no applicable matters.」
No impairment loss was recognized on overseas assets during the quarter. An impairment loss of ¥933 million had been recognized for idle land in Brazil in the same quarter of the previous year, but no improvement in or elimination of the asset value or the risk itself was reported. - FY2018WorsenedAnnual report
「Because the land described above, which was not expected to be used for the foreseeable future, declined further in value after an impairment loss was recognized in the previous consolidated fiscal year, its carrying amount was reduced to its recoverable amount, and the decrease was recognized as an impairment loss.」
The value of SMC Brazil's idle land declined further, and an impairment loss of ¥923 million was recognized in the current period. The impairment risk associated with overseas assets continued to materialize as an actual loss for the full year. - FY2018-Q3WorsenedAnnual report
「Because the value of the land referred to above, on which an impairment loss had been recognized in the first nine months of the previous consolidated fiscal year because it was not expected to be used for the foreseeable future, declined further, its carrying amount was reduced to its recoverable amount and the reduction was recognized as an impairment loss.」
The value of idle land owned by SMC Brazil declined further, resulting in an additional impairment loss of ¥932 million. The impairment risk relating to overseas assets continued to materialize as an actual loss. - FY2018-Q2WorsenedAnnual report
「In the Automatic Control Equipment Business segment, the carrying amount of idle assets owned by SMC Brazil, specifically land on which an impairment loss had been recognized in the first half of the previous consolidated fiscal year because it was not expected to be used for the foreseeable future, was reduced to its recoverable amount due to a further decline in value. The resulting reduction of ¥933 million was recognized as an impairment loss under extraordinary losses.」
The value of idle land owned by SMC Brazil on which an impairment loss had been recognized in the first half of the previous consolidated fiscal year declined further, resulting in an additional impairment loss of ¥933 million. The impairment risk relating to overseas assets further materialized as an actual loss. - FY2017MaterialisedAnnual report
「The company recognized an impairment loss of ¥2,708 million on idle assets in Brazil during the consolidated fiscal year. Because the assets above were not expected to be used for the foreseeable future, their carrying amounts were reduced to their recoverable amounts, and the reduction was recognized as an impairment loss.」
An impairment loss of ¥2,708 million was recognized in the annual results on buildings and land owned by SMC Brazil that were not expected to be used for the foreseeable future. The impairment risk relating to overseas operations and foreign assets materialized as a full-year loss. - FY2017-Q3MaterialisedAnnual report
「Quarterly profit before income taxes was ¥111,087 million, up 1.0% year on year, mainly due to the recognition of ¥1,402 million in impairment losses on foreign assets and other factors. Because the assets above were not expected to be used for the foreseeable future, their carrying amounts were reduced to their recoverable amounts, and the reduction was recognized as an impairment loss.」
The cumulative impairment loss recognized on idle land owned by SMC Brazil that was not expected to be used for the foreseeable future was updated from ¥1,373 million in the second quarter to ¥1,402 million. The impairment risk relating to overseas assets continued to materialize as an actual loss. - FY2017-Q2MaterialisedAnnual report
「Quarterly profit before income taxes was ¥52,905 million, down 30.4% year on year, mainly due to the recognition of ¥1,373 million in impairment losses on foreign assets. Because the assets above were not expected to be used for the foreseeable future, their carrying amounts were reduced to their recoverable amounts, and the reduction was recognized as an impairment loss.」
The company recognized an impairment loss of ¥1,373 million on idle land owned by SMC Brazil that was not expected to be used for the foreseeable future. The risk relating to the use and recoverable amount of overseas assets materialized as an actual loss.