Impairment loss on fixed assets due to declining profitability in the automotive seating business
First written in FY2021. 3 of 6 entries say "Materialised", first in FY2021. Latest entry: FY2026.
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- FY2026MitigatedAnnual report
「Consolidated fiscal year (from 1 April 2025 to 31 March 2026): Not applicable.」
No impairment loss on fixed assets related to the automotive seating business was recognized during the fiscal year. - FY2025MaterialisedAnnual report
「During the consolidated fiscal year, the carrying amounts of tangible fixed assets at ㈱TF−METAL and Wuhan Dongfeng TACHI-S Yanfeng Automotive Seating Co., Ltd. that were not expected to be used in the future were reduced to their recoverable amounts, and the reductions were recognized as impairment losses.」
Impairment losses of ¥29 million were recognized at TF-METAL in Japan and ¥353 million at a Chinese subsidiary, for a total of ¥383 million. - FY2024-Q3MaterialisedAnnual report
「At the overseas subsidiary TACHI-S Engineering U.S.A.,Inc., the carrying amount of tangible fixed assets not expected to be used in the future was reduced to the recoverable amount, and the reduction was recognized as an impairment loss.」
An impairment loss of ¥41 million was recognized on operating machinery and equipment in Michigan, United States, because it was not expected to be used in the future. - FY2023RestatedAnnual report
「During the consolidated fiscal year, operating losses were incurred by the company and certain subsidiaries in both the fiscal years ended March 2022 and March 2023 due to production activity shutdowns and other factors resulting from the global semiconductor shortage. Although indicators of impairment were identified in the automotive seating business, …because the recoverable amount exceeded the carrying amount, no impairment loss on fixed assets was recognized for the automotive seating business.」
Although indicators of impairment continued, no impairment loss on fixed assets for the automotive seating business as a whole was recognized for the fiscal year. - FY2022No impairment in the core business; recognized for individual assetsAnnual report
「Operating losses were incurred in both the fiscal years ended March 2021 and March 2022 due to declining demand caused by COVID-19 and production adjustments by customers resulting from the semiconductor supply shortage and other factors. As indicators of impairment were identified in the automotive seating business, we examined the undiscounted future cash flows and recoverable amount of the tangible and intangible fixed assets in that business. Because the recoverable amount exceeded the carrying amount, no impairment loss on fixed assets was recognized for the automotive seating business.」
Although no impairment loss was recognized for the automotive seating business as a whole, impairment losses were recognized on assets related to the Hiratsuka plant of ¥529 million and on tangible fixed assets and goodwill at a Chinese subsidiary of ¥154 million. - FY2021MaterialisedAnnual report
「Operating losses were incurred in both the fiscal years ended March 2020 and March 2021 due to declining demand caused by COVID-19 and other factors. As indicators of impairment were identified in the automotive seating business, we examined the undiscounted future cash flows of the tangible and intangible fixed assets in that business during the consolidated fiscal year. Because the recoverable amount fell below the carrying amount, we recognized an impairment loss of ¥2,745 million.」
Against a backdrop of declining demand caused by COVID-19 and other factors, an impairment loss of ¥2,745 million was recognized in the domestic automotive seating business. A further ¥412 million was recognized at a Brazilian subsidiary.