Receipt of life insurance proceeds following the death of the Representative Director and Chairman
First written in FY2021-Q3. 1 of 3 entries say "Restated". Latest entry: FY2022-Q3.
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- FY2022-Q3End of recognition of life insurance proceeds and recognition of funeral-related expensesAnnual report
「The significant year-on-year difference in quarterly net income was attributable to the fact that extraordinary income of ¥192 million was recorded in the same period of the previous year, following the payment of life insurance proceeds and other items insured in connection with the death of our representative director and chairman, Hayashi Ryoichi (林 良一), in December 2020, whereas no extraordinary income was recorded in the cumulative third quarter of the current fiscal year.」
Extraordinary income of ¥192 million from life insurance proceeds and other items following the chairman's death was not generated in the current cumulative third quarter, resulting in a year-on-year decline in quarterly net income. In addition, the company recorded ¥15.280 million of funeral-related expenses as an extraordinary loss in the current fiscal year. - FY2021RestatedAnnual report
「The main reason for the increase in net income was the payment of life insurance proceeds following the death of our representative director and chairman, Hayashi Ryoichi (林 良一), on 22 December 2020.」
The payment of life insurance proceeds following the chairman's death was also identified in the annual results as the main factor behind the increase in net income. The company recorded ¥169.124 million of insurance proceeds as extraordinary income. - FY2021-Q3First statedAnnual report
「Our representative director and chairman, Hayashi Ryoichi (林 良一), died on 22 December 2020. As a result, the payment of the life insurance proceeds for which coverage had been obtained was confirmed at the end of the third quarter accounting period. We recorded ¥322.629 million as accounts receivable, reversed ¥153.505 million from the directors' insurance reserve, and recorded the difference of ¥169.124 million as extraordinary income from insurance proceeds.」
Following the death of the chairman, payment of the life insurance proceeds was confirmed. The company recorded ¥322.629 million as accounts receivable, reversed ¥153.505 million from the directors' insurance reserve, and recorded ¥169.124 million of extraordinary income from insurance proceeds.