Impairment of Production Equipment Due to Weakness in the Small- and Medium-Sized FPD Market
First written in FY2017-Q2. 11 of 19 entries say "Materialised", first in FY2017-Q2. Latest entry: FY2026.
Geomatec moved to the "Worse" side of this theme in 2019, 1 year after the typical company in this theme (2018).
0 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「Based on the impairment assessment, the company determined that impairment recognition was not required and did not record any impairment loss for the fiscal year.」
Following the recognition of an impairment loss at the Kanaya Plant in the previous fiscal year, the company has reconfirmed that no impairment loss was recognized in the current fiscal year based on future cash flows and other factors. - FY2025MitigatedAnnual report
「Following an assessment of whether an impairment loss should be recognized, the company determined that recognition was unnecessary and did not record an impairment loss for the fiscal year.」
After recording an impairment loss of ¥1,091 million at the Kanari Plant in the previous fiscal year, the company did not record any additional impairment loss during the current fiscal year based on future cash flows and other factors. - FY2024MaterialisedAnnual report
「At the Kanagi Plant, because the recoverable amount fell below the carrying amount, the carrying amount was reduced to the recoverable amount, and the resulting reduction of ¥1,091 million was recognized as an impairment loss under extraordinary losses.」
In response to changes in the business environment and declining profitability, an impairment loss of ¥1,091 million was incurred on buildings, machinery and equipment, land and other assets at the Kanari Plant. - FY2023RestatedAnnual report
「We will continue to invest in improving productivity in existing businesses and expanding into new business areas. However, if the assets acquired through these investments fail to generate cash flow as expected, causing profitability to decline and making recovery of the investment unlikely so that impairment accounting becomes necessary, the resulting impairment loss could have a material impact on our business performance and financial position.」
In light of impairment losses recorded in the past, the company has reconfirmed the risk of future impairment associated with improving productivity in existing businesses and investing in new fields. - FY2022MaterialisedAnnual report
「During the consolidated fiscal year under review, the Group recorded impairment losses on the following asset group: Manufacturing equipment: 吉奥馬科技（無錫）有限公司, head office plant (Wuxi, Jiangsu Province, China) Machinery and equipment and construction in progress: 50,741」
The Company recognized an impairment loss of ¥50.741 million for the manufacturing equipment at the head office plant of its Chinese subsidiary for the full fiscal year, realizing the impact of lower equipment profitability. - FY2022-Q3MaterialisedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, the group recognized impairment losses on the following asset group: Manufacturing equipment, 吉奥馬科技（無錫）有限公司, head office plant (Wuxi, Jiangsu Province, China), machinery and equipment and construction in progress, 50,741.」
During the 9-month period ended Q3, the Company recorded an additional impairment loss of ¥50.741 million on manufacturing equipment at the Wuxi subsidiary's main plant. - FY2022-Q2Updated: no impairment loss in the second quarterAnnual report
「Second quarter cumulative period (from 1 April 2021 to 30 September 2021): No applicable matters.」
No impairment loss was recorded during the cumulative second-quarter period. - FY2022-Q1No impairment loss in the first quarterAnnual report
「For the cumulative first-quarter consolidated period from 1 April 2021 to 30 June 2021, there were no applicable matters.」
Although impairment losses were recorded at the Kanari Plant, Ako Plant and R&D Center in the same period of the previous year, no impairment losses were recorded during the first nine months of the current consolidated fiscal year. - FY2021Full-year impairment finalized, with no additional recognition at period-endAnnual report
「Although impairment losses were recorded consecutively from the first through the third quarter of the consolidated fiscal year, the Company determined at the end of the fiscal year that no impairment loss needed to be recognized, based on its calculation of future cash flows using recent business performance, which was trending toward recovery, and future business plans.」
Although the company recorded an impairment loss of ¥683.307 million for the full year, it determined that no additional impairment needed to be recognized in the fourth quarter or as of the fiscal year-end based on future cash flows. - FY2021-Q3MaterialisedAnnual report
「As the decline in profitability associated with changes in the business environment continued, the group reduced the carrying amounts of assets to their recoverable amounts and recorded the reductions as impairment losses under extraordinary losses.」
During the nine-month cumulative period, additional impairment losses of ¥269.740 million were recorded for the Kanari Plant and Ako Plant, ¥349.968 million for the Wuxi subsidiary's head office plant, and ¥63.599 million for the R&D Center, for a total of ¥683.307 million. - FY2021-Q2MaterialisedAnnual report
「As the decline in profitability associated with changes in the business environment continued, the group reduced the carrying amounts of fixed assets acquired during the cumulative second-quarter period to their recoverable amounts and recorded the reductions as impairment losses under extraordinary losses.」
An additional impairment loss of ¥172.218 million was recorded for machinery and equipment at the Kanari and Ako plants, as well as construction in progress and other assets at the R&D Center. - FY2021-Q1MaterialisedAnnual report
「As declining profitability has continued due to changes in the business environment, the company reduced the carrying amount of fixed assets acquired in the first quarter to their recoverable amount and recorded the reduction as an impairment loss under extraordinary losses.」
In response to the continuing decline in profitability, an additional impairment loss totaling ¥110.463 million was recorded on fixed assets at the Kanari Plant, Ako Plant and R&D Center. - FY2020MaterialisedAnnual report
「As the decline in profitability associated with changes in the business environment continued, the group reduced the carrying amounts of assets to their recoverable amounts and recorded the reductions as impairment losses under extraordinary losses.」
The company recognized total impairment losses of ¥2,037 million for the Kansei and Ako plants, the Wuxi subsidiary, the R&D center and other assets, reflecting a further decline in the profitability of its equipment. - FY2020-Q3RestatedAnnual report
「As the decline in profitability associated with changes in the business environment continued, the group reduced the carrying amounts of assets to their recoverable amounts and recorded the reductions as impairment losses under extraordinary losses.」
The company has reaffirmed the continued deterioration in profitability due to changes in the business environment, as well as total impairment losses of ¥1,884 million related to the Kanaya Plant, Ako Plant, Wuxi subsidiary and R&D Center, among others. - FY2020-Q2MaterialisedAnnual report
「As the decline in profitability associated with changes in the business environment continued, the group reduced the carrying amounts of assets to their recoverable amounts and recorded the reductions as impairment losses under extraordinary losses.」
The company recorded impairment losses totaling ¥1.884 billion: ¥1.695 billion at the Kanari and Ako plants, ¥140 million at the Wuxi subsidiary's head office plant, and ¥48.35 million at the R&D center and other facilities, reflecting the continued deterioration in the business environment and profitability. - FY2019MaterialisedAnnual report
「Regarding 吉奥馬科技（無錫）有限公司, after reviewing its future business plan and recoverability in light of recent changes in the business environment, the company reduced the carrying amount of its manufacturing equipment to its recoverable amount because the recoverable amount was lower than the carrying amount, and recorded the decrease as an impairment loss under extraordinary losses. The recoverable amount was measured based on value in use, calculated by discounting future cash flows at 6.7%.」
In addition to recognizing an impairment loss of ¥500,890 thousand on manufacturing equipment at the Wuxi subsidiary, the company recognized an impairment loss of ¥81,015 thousand on the Kanajo Techno Center, indicating a growing impact from declining equipment profitability. - FY2019-Q3MaterialisedAnnual report
「In light of changes in the recent business environment, the company reviewed future business plans and recoverability for the above plants. Because the recoverable amount fell below the carrying amount, the carrying amount of the manufacturing equipment was reduced to its recoverable amount, and the reduction was recorded as an impairment loss under extraordinary losses.」
Against a backdrop of sluggish small- and medium-sized FPD markets and China's smartphone market, an impairment loss of ¥500.890 million was incurred on manufacturing equipment at the Wuxi subsidiary's head-office plant. - FY2017RestatedAnnual report
「As profitability at the above plants has declined due to falling selling prices for products and slowing demand, the carrying amount of manufacturing equipment was reduced to its recoverable amount, with the reduction recorded as an impairment loss under extraordinary losses.」
For the Kanari and Ako plants, the company confirmed for the full fiscal year that an impairment loss of ¥3,031 million was recorded due to lower profitability resulting from falling product prices and slowing demand. - FY2017-Q2MaterialisedAnnual report
「The market for small- and medium-sized FPDs, the main market for the group’s products, has a difficult sales outlook as described above, with no clear prospect of an early recovery at present, and profitability has declined. As a result of examining future recoverability under the accounting standard for impairment of fixed assets, the company reduced the carrying amount of its manufacturing equipment to its recoverable amount and recognized the resulting ¥3.031 billion reduction as an impairment loss under extraordinary losses.」
The outlook for sales and profitability in the small- and medium-sized FPD market materialized as a decline in the recoverable value of manufacturing equipment. Accordingly, the Company recorded an impairment loss of ¥3,031 million on manufacturing equipment at the Kanayama and Ako plants.