Impairment Risk Due to Deteriorating Store Performance
First written in FY2021. 6 of 7 entries say "Materialised", first in FY2022-Q3. Latest entry: FY2025.
Global Style moved to the "Worse" side of this theme in 2022, 5 years after the typical company in this theme (2017).
The whole theme swung hardest in 2024: 19 of 32 companies on the "Worse" side.
11 other companies' latest entry also says "Materialised".
- FY2025MaterialisedAnnual report
「Nakagyo-ku, Kyoto Store Building 27,280 Chuo-ku, Tokyo Store Building 14,989」
The company recognized an impairment loss of ¥42.269 million during the fiscal year. It recognized impairment on assets at the Kyoto Sanjo-dori store and the store in Chuo-ku, Tokyo, which had no future expected use following decisions to close them in connection with store consolidation and other measures. - FY2025-H1MaterialisedAnnual report
「Impairment loss - 27,280」
The company recognized an impairment loss of ¥27.280 million during the interim accounting period. It also recognized ¥7.240 million in relocation costs for an office as an extraordinary loss. - FY2024MaterialisedAnnual report
「During the fiscal year, the company reduced the carrying amount of assets with no future expected use, following the decision to close the stores for relocation, to their recoverable amount and recognized the reduction as an impairment loss under extraordinary losses.」
The company recognized an impairment loss of ¥29.748 million on assets at the MARUNOUCHI Global Style flagship store that was closed in connection with its relocation. - FY2023MaterialisedAnnual report
「Impairment loss 54,707」
The company recognized an impairment loss of ¥54.707 million on asset groups whose operating losses continued in the store in Shibuya-ku, Tokyo, and the central facility in Kokurakita-ku, Kitakyushu. - FY2022MaterialisedAnnual report
「TANGOYA Namiki-dori store was scheduled to close in order to open the GINZA Global Style COMFORT Hiroshima PARCO New Building store in Naka-ku, Hiroshima, and therefore the company reduced the carrying amount of assets with no future expected use to their recoverable amount, recognizing the reduction as an impairment loss under extraordinary losses.」
Following the decision to close the TANGOYA Namiki-dori store, the company recognized an impairment loss of ¥9.149 million on buildings, tools, furniture and fixtures. - FY2022-Q3MaterialisedAnnual report
「Impairment loss 9,149」
The company recognized an impairment loss of ¥9.149 million in the cumulative third-quarter period. The main text does not identify the assets subject to impairment or provide details of the cause. - FY2021First statedAnnual report
「Depending on future store performance, the company's performance could be affected.」
The company assesses impairment indicators using each store as the smallest cash-generating unit. It states that additional impairment charges may be required depending on when the COVID-19 pandemic subsides and on changes in the economic environment.