Deteriorating Profitability and Impairment Losses in the South American Business
First written in FY2016. 6 of 9 entries say "Mitigated", first in FY2017-Q3. Latest entry: FY2018.
The whole theme swung hardest in 2019: 7 of 14 companies on the "Worse" side.
7 other companies' latest entry also says "Mitigated".
- FY2018MitigatedAnnual report
「In South America, revenue increased with the market recovery and the ongoing impact of cost reductions to ¥8,357 million, up 19.8% year on year, while segment profit was ¥82 million, compared with a loss of ¥725 million in the previous fiscal year.」
The South American business has turned around from a ¥725 million loss in the previous fiscal year to profit of ¥82 million, supported by the market recovery and the impact of cost reductions. - FY2018-Q3MitigatedAnnual report
「South America: Due to higher sales from improved market conditions and cost improvements from ongoing business restructuring, sales were ¥6,030 million, up 10.5% year on year, and the segment reported profit of ¥45 million, compared with a loss of ¥431 million in the same period of the previous year.」
In South America, improved market conditions and cost savings from structural reforms drove a turnaround from a ¥431 million loss in the same period of the previous year to segment profit of ¥45 million, further reducing the risk of deteriorating earnings. - FY2018-Q2MitigatedAnnual report
「South America: Due to higher sales from improved market conditions and lower costs from ongoing business restructuring, sales were ¥3,751 million, up 8.4% year on year, and the segment loss narrowed to ¥181 million, compared with a loss of ¥592 million in the same period of the previous year.」
South American sales increased, and cost improvements from business restructuring also contributed, narrowing the segment loss from ¥592 million in the same period of the previous year to ¥181 million. - FY2018-Q1MitigatedAnnual report
「South America: Despite higher sales and the effects of lower costs from business restructuring, sales were ¥2,044 million, up 32.1% year on year, and the segment loss was ¥128 million, compared with a loss of ¥484 million in the same period of the previous year.」
The South American segment loss narrowed from ¥484 million in the same period of the previous year to ¥128 million, with lower costs from business restructuring cited as a contributing factor. - FY2017MitigatedAnnual report
「In South America, the continued sluggishness of Brazil's motorcycle market led to a decline in orders from major customers. Sales were ¥6,977 million, down 25.3% year on year, and despite comprehensive business restructuring, the segment loss was ¥725 million, compared with a loss of ¥1,132 million in the previous consolidated fiscal year.」
The sluggishness of Brazil's motorcycle market and declining sales continue, but the segment loss narrowed from ¥1,132 million in the previous fiscal year to ¥725 million. - FY2017-Q3MitigatedAnnual report
「South America: Due to the continued sluggishness of Brazil's motorcycle market, sales were ¥5,457 million, down 31.3% year on year. Although the company pursued comprehensive business restructuring, the segment loss was ¥431 million, compared with a loss of ¥520 million in the same period of the previous year.」
The sluggishness of Brazil's motorcycle market and declining sales continue, but the segment loss narrowed from ¥520 million in the same period of the previous year to ¥431 million. Although the risk of deteriorating profitability has improved somewhat, the market contraction itself remains. - FY2017-Q2WorsenedAnnual report
「Although the company implemented business restructuring in response to the market's rapid and substantial contraction, sales and profit declined. Sales were ¥3,461 million, down 36.5% year on year, and the segment loss was ¥592 million, compared with a loss of ¥306 million in the same period of the previous year.」
Although business restructuring is under way, declining sales and widening losses in South America continue. The segment loss widened from ¥306 million to ¥592 million year on year. - FY2017-Q1WorsenedAnnual report
「In South America, sales were ¥1,547 million, down 10.8% year on year, and the segment loss was ¥484 million, compared with a loss of ¥33 million in the same period of the previous year. This was attributable to the sluggish South American market.」
The South American market remains sluggish, and the quarterly segment loss widened from ¥33 million in the same period of the previous year to ¥484 million. The deterioration in profitability in the South American business, which had already materialized, has become more severe. - FY2016MaterialisedAnnual report
「In South America, sales were ¥9,336 million, down 28.4% year on year, and the segment loss was ¥1,132 million, compared with segment profit of ¥9 million in the previous consolidated fiscal year, due mainly to the economic slowdown and currency depreciation. In addition, the South American consolidated subsidiaries recognized ¥1,455 million in impairment losses on fixed assets.」
The company states that declining sales, an operating loss and impairment of fixed assets actually occurred in South America.