Suspension of Russian Operations and Related Losses Due to Russia’s Military Invasion of Ukraine
First written in FY2023-Q2. 2 of 5 entries say "Materialised", first in FY2023-Q2. Latest entry: FY2024.
Mitsubishi Motors moved to the "Worse" side of this theme in 2022.
2 other companies' latest entry also says "Restated".
- FY2024RestatedAnnual report
「Our company has decided not to resume production in Russia. As a result, it incurred costs including disposal losses on production parts and overdue container return fees, and recorded ¥1,313 million as an extraordinary loss.」
The company maintained its decision not to resume production in Russia and recorded an extraordinary loss of ¥1,313 million for the full fiscal year for disposal losses on parts, overdue container return fees and other costs. - FY2024-Q3WorsenedAnnual report
「Our company has decided not to resume production in Russia. As a result, it incurred costs including disposal losses on production parts and overdue container return fees, and recorded ¥955 million as an extraordinary loss.」
Even after the decision not to resume production in Russia, disposal losses on parts, overdue container return fees and other costs were incurred, bringing losses related to the Russian operations to ¥955 million for the nine months ended the third quarter. - FY2024-Q2MaterialisedAnnual report
「Our company has decided not to resume production in Russia. As a result, it incurred costs including disposal losses on production parts and overdue container return fees, and recorded ¥495 million as an extraordinary loss.」
For the Russian operations, the company moved from the previous uncertainty over the outlook for resuming production to a company decision not to resume production, and recorded an extraordinary loss of ¥495 million, including disposal losses on parts. - FY2023-Q3WorsenedAnnual report
「The company estimated the amount of receivables at risk of collection related to the Russian operations and the amount of inventories whose profitability had declined, on the assumption that production would not resume at the affiliated companies in Russia. It recorded ¥9,194 million as an extraordinary loss.」
For the Russian operations, receivables at risk of collection and inventories were valued on the assumption that production would not resume, and ¥9,194 million in losses related to the Russian operations, including disposal losses and valuation losses on production parts, was recorded as an extraordinary loss. The financial impact had expanded from the previously reported ¥473 million. - FY2023-Q2MaterialisedAnnual report
「Through consolidated subsidiaries and equity-method affiliates located in Russia, our group assembles and sells completed vehicles in Russia. However, logistics networks and other systems were disrupted by Russia’s invasion of Ukraine, and parts supplies stagnated, resulting in the continued suspension of production. As a result, our company incurred costs including excess storage charges for production materials and overdue container return fees, and recorded ¥473 million as an extraordinary loss.」
Production at the Russian operations has remained suspended because of logistics disruptions and stagnant parts supplies associated with Russia’s invasion of Ukraine. An extraordinary loss of ¥473 million was actually recorded for excess storage charges, overdue container return fees and other costs.