Improper treatment of Gavilon’s European transactions and loss from revisions to prior-period financial results
First written in FY2020-Q2. 2 of 4 entries say "Cited as achieved", first in FY2021-Q3. Latest entry: FY2021.
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- FY2021Cited as achievedAnnual report
「Fixed asset gains and losses were a loss of ¥8.8 billion, an improvement of ¥242.1 billion, or 96.5%, year on year, due to the reversal of impairment losses on the oil and gas development business and Gavilon's grain business recognized in the previous fiscal year.」
Prior-period losses and impairment losses related to Gavilon's grain business were cited as historical losses, and their reversal contributed to improved performance in the current fiscal year. - FY2021-Q3Cited as achievedAnnual report
「In addition to these factors, improved net interest income and the reversal of the loss from Gavilon's prior-period accounting adjustments recognized in the same period of the previous year contributed to quarterly profit of ¥27.1 billion, up ¥15.8 billion, or 139.2%, year on year.」
Gavilon's loss from prior-period accounting adjustments was cited as a historical loss recognized in the same period of the previous year, and its reversal contributed to cumulative third-quarter profit in the agri-business. - FY2020MaterialisedAnnual report
「Due mainly to the recognition of impairment losses on goodwill and intangible assets recognized in connection with the acquisition of Gavilon's grain business, the amount was a loss of ¥251.0 billion, a deterioration of ¥235.8 billion from the previous consolidated fiscal year.」
In relation to Gavilon, in addition to the loss from prior-period accounting adjustments arising from improper accounting for its European transactions, impairment losses of ¥88,416 million on goodwill, intangible assets and other assets were recognized. - FY2020-Q2First statedAnnual report
「Quarterly profit was ¥10.0 billion, down ¥4.9 billion, or 32.8%, from the cumulative second quarter of the previous fiscal year, due to a ¥3.9 billion loss recognized in connection with prior-period accounting adjustments arising from improper accounting for Gavilon's transactions in Europe, including Italy and Spain.」
Improper accounting for Gavilon's European transactions led to prior-period accounting adjustments, affecting cumulative second-quarter profit through a ¥3.9 billion loss.