Impairment of Goodwill at Spanish Subsidiary
First written in FY2017-Q3. 6 of 11 entries say "Worsened", first in FY2018-Q2. Latest entry: FY2025-H1.
Hi-Lex moved to the "Worse" side of this theme in 2017, 5 years before the typical company in this theme (2022).
The whole theme swung hardest in 2026: 17 of 32 companies on the "Worse" side.
11 other companies' latest entry also says "Mitigated".
- FY2025-H1MitigatedAnnual report
「There are no applicable matters for the interim consolidated accounting period (from 1 November 2024 to 30 April 2025).」
No impairment loss was recognized during the interim consolidated accounting period, and no new impairment occurred at the Hungarian subsidiary, where impairment was recognized in the previous interim period. - FY2024Fewer impairment targets, concentrated in HungaryAnnual report
「The Group recorded an impairment loss of ¥1,945 million during the current fiscal year.」
Total impairment losses decreased from ¥4,582 million in the previous year to ¥1,945 million. Meanwhile, the Hungarian subsidiary recognized an impairment loss of ¥1,677 million, so impairment losses for the current period were concentrated at that location. - FY2024-Q2WorsenedAnnual report
「Hungarian subsidiary HI-LEX HUNGARY CABLE SYSTEM MANUFACTURING LLC Operating assets Machinery and equipment 199」
The Hungarian subsidiary recorded a ¥199 million impairment loss on machinery and equipment that was no longer expected to be used in the future because some customers had suspended operations. Impairment events at overseas subsidiaries continue. - FY2023WorsenedAnnual report
「The Group recorded an impairment loss of ¥4,582 million during the current fiscal year.」
Impairment losses, mainly at overseas subsidiaries, increased from ¥2,717 million in the previous year to ¥4,582 million. In addition to China, Spain, the Czech Republic, Hungary, Vietnam and Serbia, impairment also occurred at a Japanese subsidiary, expanding the regions affected. - FY2023-Q2MitigatedAnnual report
「In Europe, despite the impact of semiconductor shortages and the conflict in Ukraine on the Russian business, sales remained firm, mainly at the Italian, Czech and Hungarian subsidiaries. Sales were also boosted by the increase in yen-denominated amounts following the depreciation of the yen, reaching ¥13,386 million, up ¥4,501 million year on year, or 50.7%. Operating results were an operating loss of ¥694 million, compared with an operating loss of ¥915 million in the previous year. Although the Group worked on cost reductions and productivity improvements, results were affected by higher material, transportation and logistics costs, mainly at the German, Hungarian and Spanish subsidiaries.」
Sales in Europe increased 50.7% year on year, while the operating loss narrowed from ¥915 million to ¥694 million. The impact on the Russian business and higher material and logistics costs remain. - FY2022WorsenedAnnual report
「During the current fiscal year, the Group recorded impairment losses of ¥1,346 million at HI-LEX CZECH, S.R.O. in the Czech Republic, ¥603 million at HI-LEX RUS LLC in Russia, ¥320 million at 江蘇大同海徳世車門系統有限公司 in China, ¥217 million at HI-LEX SERBIA D.O.O. in Serbia, ¥118 million at HI-LEX DO BRASIL LTDA. in Brazil, and ¥112 million at HI-LEX VIETNAM CO.,LTD. in Vietnam.」
Impairment at overseas subsidiaries expanded from Spain, Brazil and elsewhere to the Czech Republic, Russia, China, Serbia, Brazil and Vietnam, totaling ¥2,717 million. The locations affected and the losses increased substantially. - FY2019WorsenedAnnual report
「In connection with the resolution to liquidate consolidated subsidiary HI-LEX CABLE SYSTEM CO.,LTD. in the United Kingdom, the Group recorded a ¥30 million impairment loss on property, plant and equipment. At consolidated subsidiary HI-LEX RUS LLC in Russia, the Group recorded a ¥311 million impairment loss on property, plant and equipment, mainly buildings, after taking into account the business environment and future business plan. At consolidated subsidiary HI-LEX DO BRASIL LTDA. in Brazil, the Group reassessed goodwill in light of the business environment and future business plan and recorded a ¥338 million goodwill impairment loss.」
In addition to the existing Spanish subsidiary, impairment and liquidation-related events occurred in the United Kingdom, Russia and Brazil. The overseas subsidiaries subject to impairment risk and the related losses expanded due to their business plans and operating environments. - FY2019-Q3WorsenedAnnual report
「The net income attributable to owners of the parent was ¥3,738 million, down ¥609 million year on year, or 14.0%, partly due to the recording of a ¥344 million goodwill impairment loss related to the Brazilian subsidiary as an extraordinary loss.」
A ¥344 million goodwill impairment loss related to the Brazilian subsidiary was newly recorded, and impairment events involving overseas acquired subsidiaries continue. - FY2018-Q2WorsenedAnnual report
「At the Spanish subsidiary, the Group reassessed goodwill in light of the business environment and future outlook and recorded a goodwill impairment loss in corporate assets not included in a reportable segment. The impairment loss arising from this event was ¥552 million for the six-month period of the current fiscal year.」
The Spanish subsidiary recorded a ¥552 million goodwill impairment loss for the current cumulative quarterly period. The amount increased from the ¥141 million recorded in the previous fiscal year, indicating a worsening of impairment based on the business plans and outlook for acquired subsidiaries. - FY2017MaterialisedAnnual report
「Following a review of the business plan of consolidated subsidiary HI-LEX AUTO PARTS SPAIN, S.L, the total estimated cash flows over the originally anticipated period were expected to decline. The assets were therefore written down to their recoverable amounts, and the decrease of ¥141 million was recorded as an impairment loss under extraordinary losses. Similarly, following a review of the business plan of consolidated subsidiary HI-LEX AUTOMOTIVE DO BRASIL LTDA., the total estimated cash flows over the originally anticipated period were expected to decline. The assets were therefore written down to their recoverable amounts, and the decrease of ¥252 million was recorded as an impairment loss under extraordinary losses.」
In addition to a ¥141 million goodwill impairment loss at the Spanish subsidiary, a ¥252 million goodwill impairment loss arose at the Brazilian subsidiary, extending impairment events involving overseas acquired subsidiaries. - FY2017-Q3MaterialisedAnnual report
「At the Spanish subsidiary, the Group reassessed goodwill in light of the business environment and future outlook and recorded a goodwill impairment loss in corporate assets not included in a reportable segment. The impairment loss arising from this event was ¥138 million for the nine-month period of the current fiscal year.」
The Spanish subsidiary recorded an actual impairment loss of ¥138 million following a reassessment of goodwill based on the business environment and future outlook.