FALTEC EUROPE LIMITED's Negative Net Worth
First written in FY2016. 3 of 7 entries say "Worsened", first in FY2017. Latest entry: FY2024.
Faltec moved to the "Worse" side of this theme in 2022, 1 year before the typical company in this theme (2023).
The whole theme swung hardest in 2020: 18 of 46 companies on the "Worse" side.
29 other companies' latest entry also says "Mitigated".
- FY2024MitigatedAnnual report
「This resulted from the conversion into equity of loans to the UK subsidiary.」
A debt-to-equity swap was carried out to convert loans to the UK subsidiary into equity, reducing the parent company's burden from loans and allowances for doubtful accounts relating to the subsidiary. The amount by which the negative net worth itself was eliminated is not stated in the text. - FY2023WorsenedAnnual report
「FALTEC EUROPE LIMITED had negative net worth, with excess liabilities of ¥7,503 million as of the end of December 2022.」
The UK subsidiary's excess liabilities increased from ¥4,093 million in the previous disclosure to ¥7,503 million. The parent company also recognised an ¥8,620 million allowance for doubtful accounts against loans to the UK subsidiary. - FY2022WorsenedAnnual report
「FALTEC EUROPE LIMITED had negative net worth, with excess liabilities of ¥4,093 million as of the end of December 2021.」
The UK subsidiary's excess liabilities increased from ¥1,472 million in the previous disclosure to ¥4,093 million. The company also recognised ¥3,611 million in provision for doubtful accounts against long-term loans to the UK subsidiary. - FY2021MitigatedAnnual report
「FALTEC EUROPE LIMITED had negative net worth, with excess liabilities of ¥1,472 million as of the end of December 2020.」
The disclosed excess liabilities of the UK subsidiary amounted to ¥1,472 million. Although this was down from ¥3,441 million disclosed for FY2017, the subsidiary remained in a negative net worth position. - FY2018MitigatedAnnual report
「This resulted from the conversion into equity of loans to the UK subsidiary.」
A debt-to-equity swap was carried out to convert loans to the UK subsidiary into equity, and the parent company recognised a loss of ¥2,008 million. - FY2017WorsenedAnnual report
「FALTEC EUROPE LIMITED had negative net worth, with excess liabilities of ¥3,441 million as of the end of December 2016.」
The UK subsidiary's excess liabilities increased from ¥894 million in the previous disclosure to ¥3,441 million. - FY2016First statedAnnual report
「FALTEC EUROPE LIMITED and ㈱いしかわファルテック had negative net worth, with excess liabilities of ¥894 million as of the end of December 2015 and ¥176 million as of the end of March 2016, respectively.」
Historical disclosure of the financial condition of overseas subsidiaries and affiliates.