Impairment Loss Due to Declining Profitability of Land Held for Lease
First written in FY2018. 3 of 3 entries say "Materialised", first in FY2018. Latest entry: FY2026.
Kyoritsu Electric moved to the "Worse" side of this theme in 2018, 2 years before the typical company in this theme (2020).
4 other companies' latest entry also says "Materialised".
- FY2026MaterialisedAnnual report
「Rental assets: land and buildings 94,060 Shimizu-ku, Shizuoka, Shizuoka Prefecture」
An impairment loss of ¥94.06 million was recognized on the land and buildings in Shimizu-ku, Shizuoka, due to factors including lower profitability of the rental assets. - FY2021MaterialisedAnnual report
「For the assets in the above group, the carrying amount was reduced to the recoverable amount upon execution of a purchase and sale agreement, and the decrease of ¥22.903 million was recognized as an impairment loss under extraordinary losses.」
Impairment of assets held for lease occurred upon execution of a purchase and sale agreement, and an impairment loss of ¥22.903 million was recognized. The disclosure states that Shizuoka Daisan Building was scheduled to be sold in July 2021. - FY2018MaterialisedAnnual report
「During the current consolidated fiscal year, the Group recognized impairment losses on the following asset groups. For assets held for lease (land), impairment losses of ¥36.101 million were recognized in Shizuoka, Shizuoka Prefecture, and ¥31.000 million in Shimizu Ward, Shizuoka, Shizuoka Prefecture, for a total of ¥67.101 million. Because the profitability of the assets in the above groups declined significantly, their carrying amounts were reduced to their recoverable amounts, and the decrease was recognized as an impairment loss under extraordinary losses.」
The decline in the profitability of land held for lease occurred in practice, and a total impairment loss of ¥67.101 million was recognized.