Investment in Myanmar Telecommunications Business
First written in FY2018-Q2. 5 of 13 entries say "Restated". Latest entry: FY2024.
Sumitomo Corporation (Sumitomo Shoji Kaisha,Ltd.) moved to the "Worse" side of this theme in 2024.
1 other company's latest entry also says "Worsened".
- FY2024WorsenedAnnual report
「In the Myanmar telecommunications business, following a reassessment of lease receivables in response to the lack of improvement in restrictions on the convertibility of U.S. dollars, the Group recognized an impairment loss of ¥35,215 million on its investment in the Media & Digital Business Division, taking into account the reversal of the impairment loss recognized in the previous period.」
In the Myanmar telecommunications business, restrictions on the convertibility of U.S. dollars showed no improvement, and the impairment loss for the current period amounted to ¥35.215 billion. Losses expanded even after the impairment recognized in the previous period. - FY2023Recognition of an impairment loss due to increased country risk in the Myanmar telecommunications businessAnnual report
「In the current period, following a reassessment of the recoverable amount of the investment in the Myanmar telecommunications business in response to increased country risk, the Group recognized an impairment loss of ¥17,464 million on its investment in the Media & Digital Business Division, recorded under “Equity in earnings of affiliates” in the consolidated statement of comprehensive income.」
In the Myanmar telecommunications business, the recoverable amount of the investment was reassessed in response to increased country risk, resulting in an impairment loss of ¥17.464 billion. - FY2023-Q3Decline in earnings due to local currency depreciation and higher utility costsAnnual report
「The Media & Digital Business Division reported earnings of ¥20.4 billion, a ¥10.6 billion decline from ¥31.0 billion in the same period of the previous year. This was due mainly to the launch costs incurred during the current period in the Ethiopian telecommunications business and the effects of local currency depreciation and higher utility and other costs in the Myanmar telecommunications business, despite solid performance by the Company's major domestic operating companies.」
For the Myanmar telecommunications business, in addition to the previously reported political upheaval and geopolitical risks, local currency depreciation and higher utility and other costs were cited as factors behind the decline in earnings for the cumulative third quarter. - FY2022WorsenedAnnual report
「Although geopolitical risks exist in Myanmar and newly entered Ethiopia in the overseas telecommunications business, demand associated with regional development is expected.」
In addition to the risk of political upheaval in Myanmar, geopolitical risk in newly entered Ethiopia was also reported, expanding the regions identified as risk areas for the overseas telecommunications business. - FY2021Deterioration in the business environment due to the political upheaval in MyanmarAnnual report
「In overseas information and communications infrastructure businesses, a severe and uncertain business environment has continued due to the effects of the political upheaval in Myanmar.」
For the Myanmar telecommunications business, in addition to the previous earnings explanation, the severe business environment and uncertainty over the outlook resulting from the political upheaval were expressly stated. - FY2020-Q3RestatedAnnual report
「Equity in earnings of affiliates decreased by ¥2.6 billion year on year to a profit of ¥90.9 billion, due mainly to weak performance in the automotive-related businesses and lower earnings in the Myanmar telecommunications business as a result of the rebound from the change in its fiscal year-end in the same period of the previous year, despite the rebound from the impairment loss recognized in the Madagascar nickel business in the same period of the previous year.」
The explanation that the Myanmar telecommunications business reported lower earnings due to the rebound from the change in its fiscal year-end in the same period of the previous year was maintained. Overall equity in earnings of affiliates decreased by ¥2.6 billion year on year to a profit of ¥90.9 billion. - FY2020-Q2RestatedAnnual report
「Equity in earnings of affiliates decreased by ¥24.3 billion year on year to a profit of ¥58.5 billion, due mainly to weak performance in the automotive-related businesses and lower earnings in the Myanmar telecommunications business as a result of the rebound from the change in its fiscal year-end in the same period of the previous year.」
The explanation that the Myanmar telecommunications business reported lower earnings due to the rebound from the change in its fiscal year-end in the same period of the previous year was maintained. - FY2020-Q1Decline in earnings due to the rebound from a change in the fiscal year-endAnnual report
「Equity in earnings of affiliates decreased by ¥11.9 billion year on year to a profit of ¥27.9 billion, due mainly to weak performance in the automotive-related businesses and lower earnings in the Myanmar telecommunications business as a result of the rebound from the change in its fiscal year-end in the same period of the previous year.」
The Myanmar telecommunications business reported lower earnings due to the rebound from the change in its fiscal year-end in the same period of the previous year. This represented a change in the earnings factor from the previous description of solid performance. - FY2019-Q3RestatedAnnual report
「Equity in earnings of affiliates decreased by ¥21.4 billion year on year to a profit of ¥93.5 billion, due mainly to the impairment loss recognized in the Madagascar nickel business, in addition to the decrease in earnings from the Myanmar telecommunications business despite solid performance and higher earnings in the Asia banana business following a recovery in selling prices.」
The explanation that the Myanmar telecommunications business continued to perform solidly was maintained. - FY2019-Q2RestatedAnnual report
「Equity in earnings of affiliates increased by ¥8 billion year on year to a profit of ¥82.7 billion, reflecting solid performance in the Myanmar telecommunications and leasing businesses, as well as increased earnings in the Asia banana business following a recovery in selling prices.」
The Myanmar telecommunications business was described as performing solidly. No explanation was provided regarding the amount of additional investment or new business developments. - FY2018RestatedAnnual report
「The main investments comprising ¥210 billion in the Lifestyle & Information Industry included domestic and overseas real estate businesses, capital expenditure for the domestic ICT business, and an additional investment in the Myanmar telecommunications business.」
Investment performance in the Lifestyle & Information Industry, including the additional investment in the Myanmar telecommunications business, was reconfirmed in the review of BBBO2017. - FY2018-Q3AdvancedAnnual report
「Cash flow from investing activities was a ¥78.7 billion cash outflow, reflecting approximately ¥130.0 billion in proceeds from asset portfolio rebalancing, including the sale of a European automotive finance business and the partial sale of a US office building, offset by approximately ¥190.0 billion in investment and financing activities, including participation in a Brazilian water business and additional investment in the Myanmar telecommunications business.」
For the Myanmar telecommunications business, progress was specified as moving from the investment made in the previous quarter to an additional investment. No individual amount or details of the additional investment were disclosed. - FY2018-Q2First statedAnnual report
「Cash flow from investing activities was a ¥29.0 billion cash outflow, reflecting approximately ¥120.0 billion in proceeds from asset portfolio rebalancing, including the sale of a European automotive finance business and the partial sale of a US office building, offset by approximately ¥140.0 billion in investment and financing activities, including participation in a Brazilian water business and investments in the Myanmar telecommunications business.」
Investment in the Myanmar telecommunications business was reported for the first time as part of approximately ¥140 billion in cumulative investments and financing for the second quarter. No individual investment amount, business details or progress was disclosed.