Deteriorating Profitability and Impairment at the Company-Operated Shenzhen Factory
First written in FY2018. 2 of 3 entries say "Materialised", first in FY2020-Q3. Latest entry: FY2020.
Shinko Shoji moved to the "Worse" side of this theme in 2020.
0 other companies' latest entry also says "Materialised".
- FY2020MaterialisedAnnual report
「The loss resulted from the liquidation of the company’s overseas subsidiary, 調諧電子科技（深セン）有限公司, and mainly comprised severance payments, social insurance premiums and other costs.」
The liquidation of the Shenzhen subsidiary progressed, and the company recorded a subsidiary reorganization loss of ¥186 million. The liquidation procedures approved in the previous quarter were reflected in full-year results as a reorganization loss. - FY2020-Q3MaterialisedAnnual report
「Although the number of employees decreased by 144 from the end of the previous consolidated fiscal year, this was because, during the nine-month period of the current consolidated fiscal year, the group’s Board of Directors resolved to begin liquidation procedures for its consolidated subsidiary, 調諧電子科技（深セン）有限公司, and dismissed employees. As a result, the number of employees in the group’s assembly business decreased by 157.」
For the Shenzhen assembly business, the Board of Directors resolved to begin liquidation procedures, resulting in a decrease of 157 employees. In addition, the company recorded a subsidiary reorganization loss of ¥181 million, showing that deteriorating profitability and impairment risk had materialized as liquidation and reorganization losses. - FY2018First statedAnnual report
「During the current consolidated fiscal year, the group recognized impairment losses on the following asset: Manufacture of assembly products People's Republic of China Shenzhen 158」
The company recognized an impairment loss of ¥158 million on its Shenzhen subsidiary manufacturing assembly products, due to continuing operating losses and insufficient expected future recovery of the investment.