Profit pressure from the amortization burden on the valve business acquired from Mitsubishi Heavy Industries Machine Tool Co., Ltd.
First written in FY2017-Q3. 1 of 2 entries say "Dropped", first in FY2017. Latest entry: FY2017.
1 other company's latest entry also says "Dropped".
- FY2017DroppedAnnual reportThe FY2017 securities report's discussion of annual operating results does not identify amortization expenses related to the valve business acquired from Mitsubishi Heavy Industries Machine Tool as an individual factor.
- FY2017-Q3First statedAnnual report
「Profit fell below the level of the same period of the previous year due to increased costs of establishing overseas subsidiaries as part of the Group's global expansion, foreign exchange effects, and amortization expenses related to the valve business acquired from Mitsubishi Heavy Industries Machine Tool Co., Ltd. As a result, revenue was ¥12,839 million, down ¥100 million year on year; operating profit was ¥223 million, down ¥754 million; ordinary profit was ¥6 million, down ¥1,190 million; and the quarterly net loss attributable to owners of the parent was ¥242 million, a decrease of ¥1,390 million year on year.」
Amortization expenses following the business acquisition were cited for the first time as a factor weighing on profit, alongside the costs of establishing overseas subsidiaries and foreign exchange effects, and were linked to declines in operating profit and ordinary profit and the recording of a quarterly net loss attributable to owners of the parent.