Acquisition of the U.S. HEDWIN business
First written in FY2016. 6 of 7 entries say "Worsened", first in FY2017. Latest entry: FY2022.
No other company in this theme has enough history to compare yet.
- FY2022WorsenedAnnual report
「During the current consolidated fiscal year, the company determined that there were indications of impairment, mainly because the planned contribution margin fell short amid changes in the business environment, including higher raw material prices. However, in determining whether to recognize an impairment loss, the total undiscounted future cash flows expected from the asset group exceeded its carrying amount, and no impairment loss was recognized.」
At ZACROS AMERICA, the planned contribution margin fell short due to higher raw material prices and other factors, and indications of impairment were recognized. No impairment loss was recorded, but the business plan through fiscal 2023 and future cash flows remained important assumptions. - FY2021WorsenedAnnual report
「During the current consolidated fiscal year, the company determined that there were indications of impairment because profitability had declined due to changes in the business environment. However, in determining whether to recognize an impairment loss, the total undiscounted future cash flows expected from the asset group exceeded its carrying amount, and no impairment loss was recognized.」
Although ZACROS AMERICA in the United States did not record an impairment loss, a decline in profitability was recognized as an indication of impairment, leaving the company in a position where an impairment loss could arise depending on future cash flows. - FY2020WorsenedAnnual report
「For operating assets in Delaware and Nevada, United States, the company conducted an impairment test because recent performance had diverged from the original plan. It determined that sufficient future cash flows exceeding the carrying amount could not be expected. Accordingly, during the current consolidated fiscal year, the carrying amount of the asset group was reduced to its recoverable amount, and the resulting reduction of ¥666 million was recorded as an extraordinary loss. This comprised ¥598 million for machinery and equipment and ¥68 million for construction in progress.」
In the U.S. business, the divergence of performance from the original plan resulted in an impairment loss of ¥598 million on assets used in the U.S. business. - FY2019WorsenedAnnual report
「The amount relates to investments in and loans to ZACROS AMERICA, Inc., a consolidated subsidiary of the company.」
For ZACROS AMERICA, the company recorded a ¥302 million impairment loss on shares of an affiliated company related to its investment and a ¥405 million provision for doubtful accounts related to loans, indicating continued financial problems. - FY2018WorsenedAnnual report
「The provision for doubtful accounts relates to loans extended to ZACROS AMERICA, Inc., a consolidated subsidiary of the company.」
The company recorded a ¥902 million provision for doubtful accounts on loans to its U.S. subsidiary, ZACROS AMERICA, and additional financial issues in the U.S. business emerged. - FY2017WorsenedAnnual report
「The company recorded ¥1,470 million in extraordinary losses, including an impairment loss of ¥1,357 million, at the U.S. subsidiary because recent performance diverged from the original plan.」
At the U.S. subsidiary, the divergence of performance from the plan emerged as an impairment loss of ¥1,357 million. - FY2016First statedAnnual report
「Revenue increased because the business acquired by the U.S. subsidiary through the business acquisition in the previous fiscal year contributed throughout the current fiscal year, among other factors.」
The liquid container business was expanded through the acquisition of a business by a U.S. subsidiary. The acquisition price was ¥2,063 million.