Sumitomo Realty & Development (8830) · RiskRestated
Difficulty estimating asset retirement obligations related to asbestos and restoration
First written in FY2018. 1 of 2 entries say "Restated". Latest entry: FY2023.
2entries
6years
0from disclosures
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Asset Retirement Obligations Arising from Hazardous-Substance Removal and Fixed-Term Land Lease AgreementsA theme 7 companies write about · 3 as a headwind · 0 as a tailwind
1 other company's latest entry also says "Restated".
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- FY2023RestatedAnnual report
「Because it is difficult to estimate the amount of asbestos remaining, we cannot estimate the removal cost per unit of area, which varies depending on the amount of asbestos remaining.」
The explanation continues that asset retirement obligations have not been recognized for asbestos removal obligations and restoration obligations because the timing and amount of performance cannot be reasonably estimated. - FY2018First statedAnnual report
「Because it is difficult to estimate the amount of asbestos remaining, we cannot estimate the removal cost per unit of area, which varies depending on the amount of asbestos remaining.」
It explains that asset retirement obligations have not been recognized, except in part, because the timing and amount of performance are difficult to estimate reasonably for asbestos removal obligations relating to buildings held and restoration obligations under lease agreements.