Risk of fixed-asset impairment due to the prolonged COVID-19 pandemic
First written in FY2021-Q1. 5 of 8 entries say "Restated". Latest entry: FY2027-H1.
The whole theme swung hardest in 2021: 3 of 13 companies on the "Worse" side.
7 other companies' latest entry also says "Restated".
- FY2027-H1RestatedAnnual report
「During the interim consolidated accounting period under review, there were no significant changes in the matters described in this interim report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company states that there have been no material changes to the risk of impairment of fixed assets resulting from a prolonged infectious disease outbreak. - FY2022ReframedAnnual report
「For the jewelry business, we have made accounting estimates on the assumption that, during the Sixth Medium-Term Management Plan period (the fiscal years ending February 2022 to February 2024), the impact of COVID-19 would remain to some extent but conditions would gradually recover as social and economic activity moved toward normalization.」
The company has refined its previous estimate that the impact of the infectious disease would continue beyond the current fiscal year into an assumption that the impact would remain to some extent throughout the Sixth Medium-Term Management Plan period (the fiscal years ending February 2022 to February 2024), while conditions would gradually recover. - FY2022-Q3RestatedAnnual report
「There have been no material changes to the assumptions regarding the impact of COVID-19 or to the accounting estimates described under “Additional Information” and “Accounting Estimates” in the securities report for the previous consolidated fiscal year.」
The company states that there have been no material changes to the accounting assumptions concerning the impact of the infectious disease or to the estimates for impairment of fixed assets. - FY2022-Q2RestatedAnnual report
「There have been no material changes to the assumptions regarding the impact of COVID-19 or to the accounting estimates described under “Additional Information” and “Accounting Estimates” in the securities report for the previous consolidated fiscal year.」
The company states that there have been no material changes to the accounting assumptions concerning the impact of the infectious disease or to the estimates for impairment of fixed assets. - FY2022-Q1RestatedAnnual report
「There have been no material changes to the assumptions regarding the impact of COVID-19 or to the accounting estimates described under “Additional Information” and “Accounting Estimates” in the securities report for the previous consolidated fiscal year.」
The company states that there have been no material changes to the accounting assumptions or estimates concerning the impact of the infectious disease. - FY2021-Q3WorsenedAnnual report
「At the end of the second quarter, we had assumed that conditions would gradually recover thereafter through the end of the current consolidated fiscal year. In light of the recent COVID-19 infection situation, however, we have changed the assumption to “although conditions will gradually improve, the impact of these conditions will remain for a certain period beyond the current consolidated fiscal year” and have made accounting estimates for impairment of fixed assets. As the timing of the containment of COVID-19 remains uncertain, the spread or containment of infections going forward may have a significant impact on consolidated results.」
The company changed its assumption to one in which the impact of the infectious disease would remain for a certain period beyond the current consolidated fiscal year, and describes the possibility of a significant impact on consolidated results if the impact is prolonged. - FY2021-Q2RestatedAnnual report
「We have made accounting estimates for impairment of fixed assets on the assumption that demand will gradually recover thereafter through the end of the current consolidated fiscal year. This assumption is highly uncertain, however, and losses may arise in the future if convergence is delayed and the impact is prolonged.」
The company continues to identify, as an estimation risk, the possibility of future losses if the impact of the infectious disease is prolonged. - FY2021-Q1First statedAnnual report
「Amid growing awareness of the need to prevent the spread of COVID-19, we expect restrictions on going out to continue after the end of the first quarter and believe that demand will be affected to some extent. We have made accounting estimates for impairment of fixed assets on the assumption that demand will gradually recover thereafter through the end of the current consolidated fiscal year. This assumption is highly uncertain, however, and losses may arise in the future if convergence is delayed and the impact is prolonged.」
The company newly states that the assumptions regarding the containment of the infectious disease and recovery in demand are uncertain, and that losses may arise in the future if the impact is prolonged.