Continued Losses at North American Subsidiary and Fixed-Asset Impairment Risk
First written in FY2021. 2 of 4 entries say "Mitigated", first in FY2022. Latest entry: FY2026.
0 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「MEIWA INDUSTRY NORTH AMERICA,INC.: sales ¥3,192.539 million, ordinary income ¥24.541 million, net income ¥24.541 million」
The North American subsidiary posted sales of ¥3,192 million, ordinary income of ¥24.5 million and net income of ¥24.5 million for the fiscal year ending March 2026. This indicates an improvement from the previous period, when ongoing losses and indications of impairment were reported. - FY2024WorsenedAnnual report
「For consolidated subsidiary MEIWA INDUSTRY NORTH AMERICA,INC., we determined that there were indications of impairment because operating income had remained negative in both the previous consolidated fiscal year and the current consolidated fiscal year, and considered whether an impairment loss needed to be recognized.」
The North American subsidiary again posted negative operating income, and the indications of impairment have continued. No impairment loss has been recognized because undiscounted future cash flows are expected to exceed the carrying amount. - FY2022MitigatedAnnual report
「For consolidated subsidiary MEIWA INDUSTRY NORTH AMERICA,INC., although operating income had been negative in the previous consolidated fiscal year and earlier, the company posted operating income in the current consolidated fiscal year. In light of its business plan, operating income is expected to remain positive from the next consolidated fiscal year onward, and we therefore determined that there were no indications of impairment in the company's asset group.」
The North American subsidiary posted operating income for the fiscal year, and it was determined that there were no indications of impairment of fixed assets. Key earnings figures included ordinary income of ¥91.243 million and net income of ¥91.243 million, indicating that the ongoing loss and impairment risks had eased from the previous fiscal year. - FY2021First statedAnnual report
「For consolidated subsidiary MEIWA INDUSTRY NORTH AMERICA,INC., we determined that there were indications of impairment because it has continued to post operating losses despite being in the business start-up phase, and considered whether an impairment loss needed to be recognized. As a result, no impairment loss was recognized because the undiscounted future cash flows exceeded the carrying amount of its fixed assets, ¥1,332.531 million.」
The North American subsidiary was identified as having ongoing operating losses and indications of impairment of fixed assets, and the need for impairment was considered for fixed assets of ¥1,332.531 million. As future cash flows exceeded their carrying amount, no impairment loss was recognized for the fiscal year.