Goodwill impairment due to deteriorating earnings at an Australian subsidiary
First written in FY2020. 3 of 6 entries say "Materialised", first in FY2020. Latest entry: FY2024.
Aichi moved to the "Worse" side of this theme in 2020, 3 years before the typical company in this theme (2023).
The whole theme swung hardest in 2023: 7 of 13 companies on the "Worse" side.
1 other company's latest entry also says "Achieved".
- FY2024AchievedAnnual report
「AICHI AUS PTY LTD, formerly a consolidated subsidiary, was excluded from the scope of consolidation following completion of its liquidation procedures on 24 December 2023.」
For AICHI AUS PTY LTD, for which deteriorating earnings and negative net assets had been reported, the company confirms for the full year that the liquidation procedures were completed and the company was excluded from the scope of consolidation. - FY2024-Q3Updated liquidation completionAnnual report
「AICHI AUS PTY LTD was excluded from the scope of consolidation during the third quarter of the fiscal year following completion of its liquidation.」
The company states that the liquidation of AICHI AUS PTY LTD, for which deteriorating earnings and negative net assets had been reported, was completed and the company was excluded from the scope of consolidation. - FY2023MaterialisedAnnual report
「This arose in connection with the resolution to liquidate AICHI AUS PTY LTD, our consolidated subsidiary.」
A resolution to liquidate AICHI AUS PTY LTD was passed on 23 December 2022, and an affiliated-company liquidation loss of ¥28.491 million was recognized. In addition to the negative net assets reported through the previous fiscal year, a specific event, namely the liquidation of the subsidiary, occurred. - FY2022WorsenedAnnual report
「AICHI AUS PTY LTD is an insolvent company, with negative net assets of ¥102 million as of 31 March 2022.」
The negative net assets of the Australian subsidiary AICHI AUS PTY LTD increased from ¥46 million in the previous fiscal year to ¥102 million as of 31 March 2022. - FY2021MaterialisedAnnual report
「AICHI AUS PTY LTD is an insolvent company, with negative net assets of ¥46 million as of 31 March 2021.」
Regarding the Australian subsidiary AICHI AUS PTY LTD, the company discloses negative net assets of ¥46 million as of 31 March 2021, following the previous fiscal year in which all goodwill was impaired because the planned earnings were no longer expected. - FY2020MaterialisedAnnual report
「Regarding goodwill, because AICHI AUS PTY LTD, a consolidated subsidiary, was no longer expected to generate its planned earnings, the full amount of goodwill was recognized as an impairment loss.」
Because AICHI AUS PTY LTD was no longer expected to generate its planned earnings, the full ¥24.502 million of goodwill was recognized as an impairment loss. The deterioration in earnings prospects for the overseas business has materialized specifically.