Higher allowance expenses for accounts receivable and inventories at the U.S. subsidiary
First written in FY2020-Q2. 1 of 4 entries say "Materialised", first in FY2020-Q2. Latest entry: FY2021.
This thread is not in a theme yet. When the same subject shows up in other companies' filings, you can compare them here.
- FY2021DroppedAnnual reportThe higher valuation expenses for accounts receivable, inventories and other assets at the U.S. subsidiary disclosed in the previous fiscal year were not identified separately as a performance factor in this filing.
- FY2020WorsenedAnnual report
「At the U.S. subsidiary, the company was unable to improve the deterioration in transaction profitability with a major customer that had continued from the previous fiscal year. In addition, higher expenses resulting from asset valuations, tariff increases and other factors resulted in revenue of ¥4,637 million, down 9.0% year on year, and a segment loss of ¥790 million, compared with a loss of ¥303 million in the previous fiscal year.」
Higher expenses associated with asset valuations at the U.S. subsidiary also arose for the full fiscal year, and the segment loss widened from ¥303 million to ¥790 million. - FY2020-Q3RestatedAnnual report
「Furthermore, at the U.S. subsidiary, the company was unable to improve the deterioration in transaction profitability with a major customer that had continued from the previous fiscal year, and results were also affected by higher expenses associated with the valuation of accounts receivable, inventories and other assets.」
At the U.S. subsidiary, deteriorating transaction profitability with a major customer and higher valuation expenses for accounts receivable, inventories and other assets continued. - FY2020-Q2MaterialisedAnnual report
「At consolidated subsidiary GMB NORTH AMERICA INC., amid continued intense competition in the US aftermarket parts market, profitability in transactions with major customers remained unimproved from the previous fiscal year. In addition, expenses associated with the valuation of trade receivables and inventories increased. As a result, sales were ¥2,124 million, down 15.1% year on year, and the segment recorded a loss of ¥479 million, compared with a profit of ¥69 million in the same quarter of the previous year.」
The company stated that higher expenses associated with the valuation of accounts receivable, inventories and other assets actually arose at the U.S. subsidiary and affected performance, which consisted of revenue of ¥2,124 million and a segment loss of ¥479 million.