Flooding Damage at the Head Office and Factories Caused by the July 2018 Torrential Rains
First written in FY2019-Q1. 2 of 6 entries say "Materialised", first in FY2019-Q1. Latest entry: FY2020.
0 other companies' latest entry also says "Other".
- FY2020No disaster losses recognized during the fiscal yearAnnual report
「Loss from disaster 59,948 －」
While disaster-related losses of ¥59.948 million related to the Heavy Rain Event of July 2018 were recorded in the previous fiscal year, loss from disaster for the current fiscal year is shown as "－". - FY2020-Q2No disaster-related loss recorded in the quarterAnnual report
「Loss from disaster ※2 35,445 －」
While disaster-related losses of ¥35.445 million arising from the Heavy Rain Event of July 2018 were recorded in the same period of the previous year, the loss from disaster line for the cumulative second quarter of the current fiscal year is shown as "－". - FY2019Full-year loss and subsidy recordedAnnual report
「As a result of recording ¥80 million in extraordinary losses for costs incurred to restore water damage resulting from the "Heavy Rain Event of July 2018" and ¥61 million in extraordinary income following approval of the Hiroshima Prefecture Subsidy for the Restoration and Development of Group Facilities of Small and Medium-Sized Enterprises and Other Entities, net income for the period was ¥201 million, down 20.2% year on year.」
The Company recorded ¥80 million in extraordinary losses for restoration costs related to the Heavy Rain Event of July 2018 for the full fiscal year. It also recorded the ¥61 million restoration and development subsidy as extraordinary income, confirming the disaster's financial impact in the full-year results. - FY2019-Q3Quantification of damage and restoration subsidyAnnual report
「In addition, the Company recorded ¥39 million in extraordinary losses as costs incurred for disaster recovery resulting from the "Heavy Rain Event of July 2018," bringing quarterly net income to ¥73 million, down 32.4% year on year. The Company had applied for a grant under the Hiroshima Prefecture Subsidy for the Restoration and Development of Group Facilities of Small and Medium-Sized Enterprises and Other Entities to cover the costs of restoring the damaged facilities and equipment. On 21 January 2019, the Company received notification from Hiroshima Prefecture that a grant of ¥61 million had been approved. Accordingly, the Company expects to record the same amount as extraordinary income, under subsidy income, in the fourth quarter of the fiscal year ending March 2019. Following approval of the above subsidy, the Company determined its policy for restoring the damaged facilities and equipment and estimated the costs of restoration for the fiscal year ending March 2019. Some of the costs and losses arising from the disaster have already been disclosed as extraordinary losses, under loss from disaster. Including these amounts, the Company expects total disaster-related losses for the full fiscal year ending March 2019 to be ¥62 million.」
For recovery costs related to the Heavy Rain Event of July 2018, the Company recorded ¥39 million in extraordinary losses in the quarter. It also disclosed approval of a ¥61 million subsidy, expected full-year disaster-related losses of ¥62 million, and expected impairment loss on property, plant and equipment of ¥20 million, making the amounts associated with the damage and recovery more specific. - FY2019-Q2MaterialisedAnnual report
「As a result, net sales for the cumulative second quarter were ¥2,602 million, up 2.0% year on year, operating income was ¥57 million, down 31.1%, and ordinary income was ¥67 million, down 24.4%. In addition, because the Company recorded an extraordinary loss of ¥35 million attributable to damage from torrential rains, quarterly net income was ¥15 million, down 73.0%.」
For damage from the July 2018 heavy rains that had already occurred, the Company recognized ¥35 million in extraordinary loss attributable to the heavy-rain disaster, providing a specific indication of the financial impact. - FY2019-Q1MaterialisedAnnual report
「The July 2018 heavy rains caused a debris flow to enter part of the head office premises in Asakita Ward, Hiroshima, and flooding affected part of the factory. Production at the factory was restored within several days. The impact of this disaster on the financial position, operating results and cash flows from the fiscal year concerned onward is expected to be immaterial, but the investigation is ongoing and it is currently difficult to reasonably estimate the amount.」
The July 2018 heavy rains caused a debris flow to enter the head office premises and flooding to affect part of the factory. Factory production was restored within several days, but the impact on the financial position and other matters is still under investigation, making a reasonable estimate of the amount difficult.