Delay in Frit Mass Production and Prior-Year Impairment
First written in FY2016. 6 of 14 entries say "Mitigated", first in FY2018. Latest entry: FY2024.
The whole theme swung hardest in 2026: 66 of 128 companies on the "Worse" side.
- FY2024MaterialisedAnnual report
「Sales of frit (glass powder) for LTCC used in 5G communications fell below expectations because customer expansion was slower than anticipated. Accordingly, the carrying value of the frit production equipment was reduced to its recoverable amount, and the decrease was recorded as an impairment loss under extraordinary losses.」
The delay in expanding the customer base for LTCC frit for 5G communications resulted in sales falling short of expectations, and an impairment loss of ¥10.644 million was recorded on frit production equipment. - FY2023-Q3RestatedAnnual report
「Revenue from decorative vapor deposition on glass containers and from frit increased.」
The disclosure states that frit revenue increased, but does not indicate that the frit business alone became profitable or that a new mass-production milestone was reached. - FY2023-Q1RestatedAnnual report
「Revenue from decorative vapor deposition on glass containers and from frit increased.」
Frit revenue increased, but no profitability for frit alone or new mass-production milestones were indicated. - FY2022MitigatedAnnual report
「In the previous consolidated fiscal year, we completed development of mass-production technology for green sheets made by forming glass frit for LTCC into sheet form. In the current consolidated fiscal year, we shipped mass-produced products.」
The disclosure describes progress in completing mass-production technology for frit and shipping mass-produced products. It continues to include the prior-year disclosures regarding delays in expanding the solar-cell customer base and the resulting impairment loss. - FY2020MaterialisedAnnual report
「Regarding frit (glass powder), sales fell below expectations due to delays in expanding the customer base for solar-cell applications.」
The delay in expanding the frit customer base resulted in actual sales falling short of expectations, leading to the recognition of a ¥54.860 million impairment loss on production equipment. - FY2019MitigatedAnnual report
「For the current consolidated fiscal year, revenue increased by ¥524 million, or 41.9%, year on year to ¥1,775 million, and segment profit (operating profit) increased by ¥112 million from the previous fiscal year, when the segment recorded a loss of ¥39 million, to ¥73 million.」
The Other business as a whole, including frit, shifted to an operating profit, indicating that challenges relating to mass production and monetization have improved for the business as a whole. However, no profitability for frit alone is stated. - FY2019-Q3MitigatedAnnual report
「③ Other Revenue for the nine months ended 30 June was ¥1,403 million, an increase of ¥512 million, or 57.5%, from the same period of the previous year. Segment profit (operating profit) was ¥88 million, an improvement of ¥144 million year on year, compared with a segment loss of ¥55 million in the first nine months of the previous fiscal year. Revenue increased in the marine and special-purpose equipment business, whose main product is the Edo-kko 1 submarine, as well as in decorative vapor deposition on glass containers, silver mirrors (Hi-Silver®), washing-machine door glass and frit (glass powder).」
The Other business, including frit, shifted from an operating loss in the same period of the previous year to an operating profit, indicating that challenges relating to mass production and monetization have improved for the business as a whole. However, no statement indicates that frit alone became profitable. - FY2019-Q2MitigatedAnnual report
「Revenue for the six months ended 30 June was ¥783 million, an increase of ¥244 million, or 45.3%, from the same period of the previous year. The segment loss (operating loss) was ¥39 million, an improvement of ¥28 million year on year, compared with a segment loss of ¥68 million in the first six months of the previous fiscal year. Revenue from decorative vapor deposition on glass containers, silver mirrors (Hi-Silver®), washing-machine door glass and frit (glass powder) increased.」
The operating loss in the Other business, including frit, narrowed from ¥68 million to ¥39 million. However, an operating loss remains. - FY2019-Q1MitigatedAnnual report
「Revenue for the three months ended 30 June was ¥363 million, an increase of ¥97 million, or 36.6%, from the same period of the previous year. The segment loss (operating loss) was ¥11 million, an improvement of ¥15 million year on year, compared with a segment loss of ¥27 million in the first three months of the previous fiscal year. Revenue from decorative vapor deposition on glass containers, silver mirrors (Hi-Silver®) and frit (glass powder) increased.」
Higher revenue and a narrower operating loss in the Other business, including frit, have partially improved the challenges relating to mass production and monetization. However, an operating loss of ¥11 million remains. - FY2018MitigatedAnnual report
「Revenue for the consolidated fiscal year was ¥1,251 million, an increase of ¥195 million, or 18.5%, from the previous fiscal year. The segment loss (operating loss) was ¥39 million, an improvement of ¥118 million year on year, compared with a segment loss of ¥157 million in the previous fiscal year.」
The operating loss in the Other business, including frit, narrowed from ¥157 million to ¥39 million. However, an operating loss remains, and challenges relating to mass production and profitability continue. - FY2018-Q3RestatedAnnual report
「③ Other Revenue for the nine months ended 30 June was ¥890 million, an increase of ¥176 million, or 24.7%, from the same period of the previous year. The segment loss (operating loss) was ¥55 million, an improvement of ¥58 million year on year, compared with a segment loss of ¥113 million in the first nine months of the previous fiscal year. Revenue from frit (glass powder) and silver mirrors (Hi-Silver®) increased.」
The Other business, including frit, grew revenue and narrowed its operating loss, but a loss of ¥55 million remains, and challenges relating to the transition to mass production and profitability continue. - FY2018-Q1RestatedAnnual report
「③ Other Revenue for the nine months ended 30 June was ¥266 million, an increase of ¥53 million, or 25.3%, from the same period of the previous year. The segment loss (operating loss) was ¥27 million, an improvement of ¥11 million year on year, compared with a segment loss of ¥39 million in the first nine months of the previous fiscal year. Revenue from frit (glass powder) increased.」
Frit sales increased and the operating loss in the Other business narrowed, but an operating loss of ¥27 million remains, and risks relating to the transition to mass production and profitability continue. - FY2017RestatedAnnual report
「Sales of frit (glass powder) and silver mirrors (Hi-Silver®) increased.」
Frit sales increased, but the Other business still recorded an operating loss of ¥157 million, falling short of the target of turning profitable. - FY2016First statedAnnual report
「Regarding frit (glass powder), the Company has focused on acquiring customers as a new business and has received inquiries from many potential customers, but the transition from sample shipments to mass-production shipments has been slower than expected. Accordingly, the carrying amount of the frit production equipment was reduced to its recoverable amount, and the reduction was recorded as an impairment loss under special losses.」
Describes the circumstances in which an impairment loss of ¥76.720 million was recorded on frit production equipment in the previous consolidated fiscal year. No impairment loss was recorded in the current fiscal year.