Going-concern risk from five consecutive years of operating losses and deterioration in net assets
First written in FY2021. 5 of 14 entries say "Worsened", first in FY2022-Q1. Latest entry: 2026-04-14.
Poplar moved to the "Worse" side of this theme in 2021, 1 year after the typical company in this theme (2020).
The whole theme swung hardest in 2020: 30 of 70 companies on the "Worse" side.
11 other companies' latest entry also says "Achieved".
- 2026-04-14AchievedEarnings forecast revisionSuggests it is closing out
「(Notes on going concern assumption) There are no applicable matters.」
The company stated that there were no applicable matters under the notes on going concern, confirming that going-concern risk had been resolved in the annual results. - FY2024AchievedAnnual report
「Based on these circumstances, we determined that the events or circumstances that had raised substantial doubt about our ability to continue as a going concern had been resolved in the current consolidated fiscal year.」
Regarding the net liabilities and material events concerning going-concern uncertainties that existed through the previous fiscal year, the company eliminated the net liabilities through a capital increase and the recording of profit, and determined that the events or circumstances raising substantial doubt had been resolved in the current fiscal year. - FY2024-Q3RestatedAnnual report
「The company had net liabilities through the previous consolidated fiscal year and recognized that events or circumstances existed that raised substantial doubt about its ability to continue as a going concern. To resolve these circumstances, on 31 May 2023 it carried out a capital increase through the issuance of class shares by way of a third-party allotment and raised ¥700 million. In terms of earnings, same-store sales, which had increased as a result of the easing of activity restrictions related to COVID-19 from the second half of the previous consolidated fiscal year and demand for outings and leisure activities resulting from the nationwide travel-support policy, remained strong in the third quarter of the current consolidated fiscal year. We continued to record operating profit and ordinary profit, as in the previous consolidated fiscal year, and recorded quarterly net income attributable to owners of the parent for the first nine months of the current consolidated fiscal year, thereby eliminating the net liabilities. We expect the same outcome at the end of the current consolidated fiscal year.」
The company has continued to explain that the net liabilities existing through the previous consolidated fiscal year were eliminated through a ¥700 million capital increase and the recording of profit. Net assets were ¥377 million at the end of the third quarter, and the same result is expected at the end of the fiscal year. - FY2024-Q2RestatedAnnual report
「The company had net liabilities through the previous consolidated fiscal year and recognized that events or circumstances existed that raised substantial doubt about its ability to continue as a going concern. To resolve these circumstances, on 31 May 2023 it carried out a capital increase through the issuance of class shares by way of a third-party allotment and raised ¥700 million. … As a result of recording quarterly net income attributable to owners of the parent, the company eliminated its net liabilities.」
The company has continued to explain that the net liabilities existing through the previous consolidated fiscal year were eliminated through a ¥700 million capital increase and the recording of profit. At the same time, it continued to disclose its recognition of material events concerning going-concern uncertainties. - FY2024-Q1MitigatedAnnual report
「To resolve these circumstances, on 31 May 2023 we carried out a capital increase through the issuance of class shares by way of a third-party allotment and raised ¥700 million. In terms of earnings, same-store sales, which had increased as a result of the easing of activity restrictions related to COVID-19 from the second half of the previous consolidated fiscal year and demand for outings and leisure activities resulting from the nationwide travel-support policy, remained strong in the first quarter of the current consolidated fiscal year. We continued to record operating profit and ordinary profit, as in the previous consolidated fiscal year, and recorded quarterly net income attributable to owners of the parent for the first three months of the current consolidated fiscal year, thereby eliminating the net liabilities.」
The company eliminated its net liabilities through a third-party allotment capital increase and the recording of profit. Although material events concerning going-concern uncertainties remained, a substantial improvement was shown in its financial position and earnings. - FY2023WorsenedAnnual report
「In the current consolidated fiscal year, our group had net liabilities of ¥694.242 million. The company had also continued to record operating losses, recording an operating loss of ¥428.063 million and a net loss of ¥528.010 million in the current fiscal year, resulting in net liabilities of ¥942.928 million. We recognize that events or circumstances exist that raise substantial doubt about our ability to continue as a going concern.」
Consolidated net liabilities increased from ¥429.433 million in the previous fiscal year to ¥694.242 million, while the standalone company also had net liabilities of ¥942.928 million. The consolidated company recorded operating profit, but material events concerning going-concern uncertainties remained. - FY2023-Q3MitigatedAnnual report
「Our group had continued to record operating losses through the first quarter of the current consolidated fiscal year. In addition, net liabilities had continued from the end of the previous consolidated fiscal year, and net liabilities amounted to ¥428 million at the end of the third quarter of the current consolidated fiscal year. Furthermore, given changes in store traffic trends resulting from the impact of COVID-19 and the expectation that the effects of rising raw-material prices and other factors will continue for a certain period, we recognize that events or circumstances exist that raise substantial doubt about our ability to continue as a going concern.」
Although material events concerning going-concern uncertainties and net liabilities remained, operating profit of ¥21 million was recorded in the first nine months, and net liabilities narrowed slightly from ¥429 million at the end of the previous fiscal year to ¥428 million. - FY2023-Q2MitigatedAnnual report
「Our group had recorded operating losses through the previous consolidated fiscal year. In addition, net liabilities had continued from the end of the previous consolidated fiscal year, and net liabilities amounted to ¥428 million at the end of the second quarter of the current consolidated fiscal year. In terms of earnings, the benefits of business-structure reforms have begun to emerge. As a result of cost reductions and improved gross profit, operating profit was ¥2 million」
Although net liabilities remained at ¥428 million, they narrowed by ¥1 million from ¥429 million at the end of the previous fiscal year, and operating profit of ¥2 million was recorded in the first six months of the current fiscal year. While material events concerning going-concern uncertainties continued, some improvement was shown in earnings and net assets. - FY2023-Q1WorsenedAnnual report
「In the first quarter of the current consolidated fiscal year, our group continued to record operating losses, and net liabilities amounted to ¥492 million. In addition, given changes in store traffic trends resulting from the impact of COVID-19 and the expectation that its effects will continue for a certain period, we recognize that events or circumstances exist that raise substantial doubt about our ability to continue as a going concern.」
Net liabilities increased from ¥429 million at the end of the previous consolidated fiscal year to ¥492 million. The going-concern risk, including continued operating losses and the expected continuation of the effects of the infectious disease, deteriorated. - FY2022WorsenedAnnual report
「In the current consolidated fiscal year, our group recorded net liabilities of ¥429 million.」
Amid continued operating losses, net liabilities deteriorated from ¥285 million at the end of the previous fiscal year to ¥429 million. - FY2022-Q3RestatedAnnual report
「In the first nine months of the current consolidated fiscal year, our group continued to record operating losses, and net assets became negative. In addition, given changes in store traffic trends resulting from the impact of COVID-19 and the expectation that its effects will continue for a certain period, we recognize that circumstances exist that raise substantial doubt about our ability to continue as a going concern.」
The company reaffirmed the going-concern risk arising from continued operating losses, negative net assets, and the expected continuation of the effects of the infectious disease. - FY2022-Q2WorsenedAnnual report
「In the first six months of the current consolidated fiscal year, our group continued to record operating losses, and net assets became negative. In addition, given changes in store traffic trends resulting from the impact of COVID-19 and the expectation that its effects will continue for a certain period, we recognize that circumstances exist that raise substantial doubt about our ability to continue as a going concern.」
The company reaffirmed the existence of circumstances raising substantial doubt about its ability to continue as a going concern, as operating losses and negative net assets continued. - FY2022-Q1WorsenedAnnual report
「In the first quarter of the current consolidated fiscal year, our group continued to record operating losses, and net assets became negative. In addition, given changes in store traffic trends resulting from the impact of COVID-19 and the expectation that its effects will continue for a certain period, we recognize that circumstances exist that raise substantial doubt about our ability to continue as a going concern.」
The company disclosed continued operating losses and negative net assets, indicating that the financial aspect of the going-concern risk had deteriorated from the end of the previous consolidated fiscal year. At the same time, it determined that no material uncertainty existed, based on its financing agreements. - FY2021First statedAnnual report
「In the current consolidated fiscal year, our group recorded an operating loss for the fifth consecutive fiscal year, and net assets deteriorated. In addition, given changes in store traffic trends resulting from the impact of COVID-19 and the expectation that its effects will continue for a certain period, we expect to record operating losses from the next fiscal year onward and recognize that circumstances exist that raise substantial doubt about our ability to continue as a going concern.」
Against the backdrop of five consecutive fiscal years of operating losses, deteriorating net assets, and expected operating losses from the next fiscal year onward, the company has for the first time described circumstances raising substantial doubt about its ability to continue as a going concern as an independent risk.