Risk of Valuation Losses on パスイメージング Convertible Bonds
First written in FY2020-Q3. 2 of 4 entries say "Materialised", first in FY2021-Q3. Latest entry: FY2021.
inspec moved to the "Worse" side of this theme in 2021, 1 year after the typical company in this theme (2020).
The whole theme swung hardest in 2019: 37 of 69 companies on the "Worse" side.
40 other companies' latest entry also says "Materialised".
- FY2021MaterialisedAnnual report
「During the fiscal year, the company recorded valuation losses on investment securities of ¥5 million on shares of パスイメージング株式会社, ¥500 million on the first unsecured convertible bond with stock acquisition rights issued by クラーロ株式会社 (current name: パスイメージング株式会社), and ¥376 million on shares of First EIE SA (Switzerland), formerly a consolidated subsidiary.」
An impairment loss of ¥499.999 million was recognized on the ¥500 million in acquired パスイメージング-related convertible bonds, turning the impairment-loss risk into an actual loss. - FY2021-Q3MaterialisedAnnual report
「During the quarter, no material changes were made overall to the assumptions underlying accounting estimates. However, losses were recognized due to declines in the valuation of First EIE SA shares, goodwill and the first series of unsecured convertible bonds with share acquisition rights issued by クラーロ株式会社 (current name: パスイメージング株式会社), reflecting the difficulty of generating synergies and other factors.」
The valuation of パスイメージング’s convertible bonds and other investments declined because of the difficulty of generating synergies and other factors, and the company actually recognized a loss. - FY2020RestatedAnnual report
「If the financial condition and operating results of パスイメージング株式会社, the issuer of these convertible bonds, deteriorate materially, it may become necessary to recognize an impairment loss.」
The risk of an impairment loss due to deterioration in the issuer’s financial condition and operating results continues for the ¥500 million in acquired パスイメージング-related convertible bonds. - FY2020-Q3First statedAnnual report
「If the financial condition and operating results of パスイメージング株式会社, the issuer of these convertible bonds, deteriorate materially, it may become necessary to recognize an impairment loss.」
Following the acquisition of ¥500 million in convertible bonds, the company newly disclosed the possibility of recognizing an impairment loss if the financial condition and operating results of the issuer, パスイメージング, deteriorate materially.