Impairment Indicators Relating to the Fixed Assets of Oiles America Corporation
First written in FY2022. 1 of 2 entries say "Worsened", first in FY2023. Latest entry: FY2023.
Oiles moved to the "Worse" side of this theme in 2023, 4 years after the typical company in this theme (2019).
The whole theme swung hardest in 2020: 13 of 15 companies on the "Worse" side.
4 other companies' latest entry also says "Worsened".
- FY2023WorsenedAnnual report
「During the consolidated fiscal year under review, the Company identified impairment indicators for OAC’s asset group, but did not recognise an impairment loss because the total undiscounted future cash flows expected from the asset group and the net selling price of its principal assets exceeded their carrying amount. The balance of property, plant and equipment of OAC recorded on the consolidated balance sheet was ¥2,030 million.」
Impairment indicators for the property, plant and equipment of Oiles America Corporation continued to be identified. Although the Company disclosed property, plant and equipment of ¥2,030 million, it recognised no impairment loss for the fiscal year under review. - FY2022First statedAnnual report
「During the consolidated fiscal year under review, the Company identified impairment indicators for OAC’s asset group, but did not recognise an impairment loss because the total undiscounted future cash flows expected from the asset group exceeded its carrying amount. The balance of property, plant and equipment of OAC recorded on the consolidated balance sheet was ¥1,841 million.」
The Company identified impairment indicators for the property, plant and equipment of Oiles America Corporation but recognised no impairment loss against the ¥1,841 million carrying amount.