Deteriorating Profitability and Impairment of Assets Used in the ROOM CONCIER Business
First written in FY2021-Q2. 1 of 2 entries say "Restated". Latest entry: FY2021-Q3.
The whole theme swung hardest in 2024: 19 of 45 companies on the "Worse" side.
32 other companies' latest entry also says "Restated".
- FY2021-Q3RestatedAnnual report
「In this process, with respect to ROOM CONCIER, the meeting-room management service developed and sold by the Group, profitability had declined and recovery of the investment was no longer expected in light of changes in the current business environment. Accordingly, an impairment loss of ¥61 million was recorded as an extraordinary loss during the consolidated accounting period of the second quarter.」
The company continued to disclose the recognition of a ¥61 million impairment loss due to declining profitability of ROOM CONCIER and the loss of expected recovery of the investment. - FY2021-Q2First statedAnnual report
「During the consolidated fiscal year, the ROOM CONCIER meeting-room management system, classified within the IoT business segment, was expected to continue generating negative operating profit or loss. Accordingly, the carrying amount of the business assets held was reduced to their recoverable amount, and the decrease was recorded as an impairment loss under extraordinary losses. The recoverable amount was measured based on value in use and assessed at zero.」
The disclosure stated that the profitability of ROOM CONCIER had declined and that recovery of the investment was not expected, and ¥61.391 million in business-use software was recorded as an impairment loss.