Gekidan Hikosen Performance Cancellations and Full Goodwill Impairment
First written in FY2021-Q3. 2 of 6 entries say "Materialised", first in FY2021-Q3. Latest entry: FY2023-Q2.
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- FY2023-Q2WorsenedAnnual report
「At 株式会社劇団飛行船, some performances were cancelled, resulting in weak performance in the second quarter, but use of the event hall “Hikosen Theater”, acquired two years ago, is gradually increasing.」
While use of Hikosen Theater is increasing, performance cancellations at 劇団飛行船 have continued, resulting in weak performance in the second quarter. - FY2023-Q1MitigatedAnnual report
「Although the previous consolidated fiscal year was heavily affected by COVID-19, the standalone business recorded its highest-ever quarterly net sales and returned to operating profitability.」
For 劇団飛行船, which had previously experienced cancelled performances and goodwill impairment, the Company reported a recovery in sales and a return to operating profitability in the current quarter, indicating that the business impact of the infection had eased. - FY2022-Q3RestatedAnnual report
「劇団飛行船, whose primary business is mask-play musicals, delivered weak results for the second consecutive quarter as the closure of kindergartens and nursery schools and cancellations or restrictions under the individual criteria of groups overlapped.」
At 劇団飛行船, closures of kindergartens and nursery schools and cancellations or restrictions of performances under group criteria continued from the second quarter, resulting in weak performance. - FY2022-Q2RestatedAnnual report
「Meanwhile, 劇団飛行船, whose primary business is mask-play musicals, delivered weak results as a number of performances were cancelled or restricted under the individual criteria of kindergarten and nursery-school groups.」
At 劇団飛行船, cancellations and restrictions imposed by kindergarten and nursery-school groups continued, resulting in weak performance. - FY2021-Q4MaterialisedAnnual report
「Regarding goodwill, the goodwill arising from the acquisition of shares in 株式会社劇団飛行船 was reduced to its recoverable amount after considering the outlook for future earnings and recoverability in light of the impact of COVID-19 and other factors. The reduction for the current period was recorded as an impairment loss under extraordinary losses. The recoverable amount was assessed at zero.」
The Company impaired ¥179.439 million of goodwill related to 劇団飛行船 and assessed its recoverable amount at zero. The realization of the risks associated with cancelled performances and forecast losses became more evident in the accounts. - FY2021-Q3MaterialisedAnnual report
「For 劇団飛行船, more than 180 performances were cancelled between August 2020 and March 2021 due to the spread of COVID-19, resulting in a forecast of losses in the latest outlook. The Company also recognized a full impairment loss on goodwill after taking into account uncertainty under the COVID-19 environment and other factors.」
More than 180 cancelled performances were expected at 劇団飛行船 between August 2020 and March 2021, and the resulting forecast of losses led to the full impairment of goodwill.