Material doubt regarding the going-concern assumption
First written in FY2016-Q3. 10 of 19 entries say "Restated". Latest entry: FY2020.
3 other companies' latest entry also says "Mitigated".
- FY2020MitigatedAnnual report
「(Matters Related to the Going Concern Assumption) There are no applicable matters.」
Regarding the material doubt about the going-concern assumption that had continued through the previous filing, the Company states that there are no applicable matters. It also states that financial issues affecting business continuity were resolved through the completion of debt restructuring. - FY2020-Q3RestatedAnnual report
「The Group recorded an operating loss of ¥20.861 million in the cumulative third quarter of the current consolidated fiscal year.」
The Group continues to disclose an operating loss, that not all interest-bearing liabilities have been eliminated, and that the lack of stable profits gives rise to material uncertainty about the going-concern assumption. - FY2020-Q2RestatedAnnual report
「The Company recorded operating income of ¥18.343 million in the previous fiscal year, but recorded an operating loss of ¥8.614 million in the cumulative second quarter of the current fiscal year. From a financial perspective, during the previous fiscal year, interest-bearing liabilities subject to loss of the benefit of time and interest-bearing liabilities for which repayment had been deferred were eliminated through repayment, contribution in kind (debt-to-equity swaps), and debt forgiveness, enabling the Company to emerge from the critical situation threatening business continuity. However, this does not mean that all interest-bearing liabilities have been eliminated, and the Company has not generated stable profits sufficient to bear the interest expense. It therefore recognizes that circumstances or events giving rise to material doubt about the going-concern assumption continue to exist.」
Material doubt about the going-concern assumption continues because the Company recorded an operating loss and has not generated stable profits. It also reiterates that no interest-bearing liabilities subject to loss of the benefit of time or repayment deferrals remain. - FY2020-Q1WorsenedAnnual report
「The Company recorded operating income of ¥18.343 million in the previous fiscal year, but recorded an operating loss of ¥29.060 million in the cumulative first quarter of the current fiscal year.」
The Company turned from operating income in the previous fiscal year to an operating loss in the cumulative first quarter of the current fiscal year, and continues to recognize that it lacks stable profits sufficient to cover interest expense and that material uncertainty about the going-concern assumption remains. The state in which no liabilities subject to loss of the benefit of time remain has been maintained. - FY2019MitigatedAnnual report
「From a financial perspective, during the current fiscal year, interest-bearing liabilities subject to loss of the benefit of time and interest-bearing liabilities for which repayment had been deferred were eliminated through repayment, contribution in kind (debt-to-equity swaps), and debt forgiveness, enabling the Company to emerge from the critical situation threatening business continuity. However, this does not mean that all interest-bearing liabilities have been eliminated, and the Company has not generated stable profits sufficient to bear the interest expense. It therefore recognizes that circumstances or events giving rise to material doubt about the going-concern assumption continue to exist.」
The Company states that liabilities subject to loss of the benefit of time and repayment-deferral liabilities were resolved and that it escaped the critical situation. However, not all interest-bearing liabilities have been eliminated and stable profits have not been secured, so material doubt about the going-concern assumption continues. - FY2019-Q3Debt subject to loss of the benefit of time and repayment deferrals resolved, but material doubt continuesAnnual report
「From a financial perspective, during the third quarter accounting period, interest-bearing liabilities for which the Company had lost the benefit of time or had been granted repayment deferrals were eliminated through repayment, contribution in kind (debt-to-equity swaps), and debt forgiveness. However, the Company has not generated stable profits sufficient to bear the interest expense on its interest-bearing liabilities and recognizes that circumstances or events giving rise to material doubt about the going-concern assumption continue to exist.」
Although interest-bearing liabilities subject to loss of the benefit of time or repayment deferrals were eliminated through repayment, debt-to-equity swaps, and debt forgiveness, the Company lacks stable profits sufficient to cover interest expense, so material doubt about the going-concern assumption continues. - FY2019-Q2RestatedAnnual report
「The Company recorded operating income of ¥26.578 million in the previous fiscal year and also recorded operating income of ¥19.713 million in the cumulative second quarter of the current fiscal year. However, with respect to borrowings from certain financial institutions and others, after explaining the situation in advance, the Company is paying only the contracted interest and has been granted a deferral of principal repayments. As a result, circumstances exist that raise substantial doubt about the going-concern assumption.」
Although operating income was recorded, principal repayment deferrals continue and material doubt about the going-concern assumption remains. The Company continues to state that no interest-bearing liabilities subject to loss of the benefit of time remain. - FY2019-Q1Debt subject to loss of the benefit of time resolved, but material doubt continuesAnnual report
「The Company recorded operating income of ¥26.578 million in the previous fiscal year, but recorded an operating loss of ¥3.172 million in the cumulative first quarter of the current fiscal year. In addition, with respect to borrowings from certain financial institutions and others, after explaining the situation in advance, the Company is paying only the contracted interest and has been granted a deferral of principal repayments. As a result, circumstances exist that raise substantial doubt about the going-concern assumption. Accordingly, there are no longer any interest-bearing liabilities for which the Company has lost the benefit of time.」
The quarterly operating loss and deferral of principal repayments mean that material doubt about the going-concern assumption continues. The Company states that interest-bearing liabilities subject to loss of the benefit of time have been eliminated through the settlement of 2 cases. - FY2018WorsenedAnnual report
「The Company recorded an operating loss of ¥27.436 million in the previous fiscal year, but recorded operating income of ¥26.578 million in the current fiscal year. However, with respect to borrowings from certain financial institutions and others, it has not completed the procedures to extend the repayment dates and is overdue on principal and interest payments. These circumstances give rise to events or conditions that raise substantial doubt about the going-concern assumption.」
Although the Company returned to operating profitability, it states that certain borrowings are in default following the loss of the benefit of time, negotiations with creditors are continuing, and the Company's ability to continue as a going concern is uncertain. - FY2018-Q3RestatedAnnual report
「The Company recorded an operating loss of ¥27.436 million in the previous fiscal year, but recorded operating income of ¥32.556 million in the cumulative third quarter of the current fiscal year. However, procedures to extend the repayment dates of borrowings from certain financial institutions and others have not been completed, and repayment of principal and payment of interest are overdue. As a result, circumstances exist that raise substantial doubt about the going-concern assumption.」
Although the Company recorded operating income, repayment-date extensions for certain borrowings remain incomplete and principal and interest payments remain overdue. Material doubt about the going-concern assumption has not been resolved. - FY2018-Q2RestatedAnnual report
「The Company recorded an operating loss of ¥27.436 million in the previous fiscal year, but recorded operating income of ¥24.210 million in the cumulative second quarter of the current fiscal year. However, procedures to extend the repayment dates of borrowings from certain financial institutions and others have not been completed, and repayment of principal and payment of interest are overdue. As a result, circumstances exist that raise substantial doubt about the going-concern assumption.」
Although operating income was recorded, incomplete extensions of borrowing maturities, overdue principal and interest payments, and material doubt about the going-concern assumption continue. - FY2018-Q1RestatedAnnual report
「The Company recorded an operating loss of ¥27.436 million in the previous fiscal year and also recorded an operating loss of ¥3.489 million in the cumulative first quarter of the current fiscal year. In addition, procedures to extend the repayment dates of borrowings from certain financial institutions and others have not been completed, and repayment of principal and payment of interest are overdue. As a result, circumstances exist that raise substantial doubt about the going-concern assumption.」
Operating losses, incomplete extensions of borrowing maturities, and overdue principal and interest payments continue, and material doubt about the going-concern assumption remains disclosed. - FY2017-Q4WorsenedAnnual report
「The Company recorded an operating loss of ¥80.567 million in the previous fiscal year and also recorded an operating loss of ¥2.546 million in the cumulative second quarter of the current fiscal year. In addition, procedures to extend the repayment dates of borrowings from certain financial institutions and others have not been completed, and repayment of principal and payment of interest are overdue. As a result, circumstances exist that raise substantial doubt about the going-concern assumption.」
Although operating income was recorded in the immediately preceding cumulative first quarter, the cumulative second quarter returned to an operating loss, while incomplete maturity extensions and overdue principal and interest payments continued. - FY2017-Q3RestatedAnnual report
「The Company recorded an operating loss of ¥80.567 million in the previous fiscal year, but recorded operating income of ¥5.680 million in the cumulative first quarter of the current fiscal year. However, procedures to extend the repayment dates of borrowings from certain financial institutions and others have not been completed, and repayment of principal and payment of interest are overdue. As a result, circumstances exist that raise substantial doubt about the going-concern assumption.」
Although the Company recorded operating income, extensions of borrowing maturities remain incomplete and principal and interest payments continue to be overdue, so material doubt about the going-concern assumption remains disclosed. - FY2017RestatedAnnual report
「The Company recorded an operating loss of ¥80.567 million in the previous fiscal year and also recorded an operating loss of ¥27.436 million in the current fiscal year. In addition, procedures to extend the repayment dates of borrowings from certain financial institutions and others have not been completed, and repayment of principal and payment of interest are overdue. As a result, circumstances exist that raise substantial doubt about the going-concern assumption.」
Although the operating loss narrowed from the previous fiscal year, extensions of borrowing maturities remain incomplete, principal and interest payments are overdue, and material doubt about the going-concern assumption continues. - FY2017RestatedAnnual report
「The Company recorded an operating loss of ¥311.055 million in the previous fiscal year and also recorded an operating loss of ¥80.567 million in the current fiscal year. In addition, procedures to extend the repayment dates of borrowings from certain financial institutions and others have not been completed, and repayment of principal and payment of interest are overdue. As a result, circumstances exist that raise substantial doubt about the going-concern assumption.」
Operating losses and overdue principal and interest payments continue, and material doubt about the going-concern assumption remains. Although the operating loss narrowed from the previous fiscal year, the material doubt has not been resolved. - FY2017-Q1RestatedAnnual report
「The Company recorded an operating loss of ¥311.055 million in the previous fiscal year and also recorded an operating loss of ¥59.635 million in the cumulative third quarter of the current fiscal year. In addition, procedures to extend the repayment dates of borrowings from certain financial institutions and others have not been completed, and repayment of principal and payment of interest are overdue. As a result, circumstances exist that raise substantial doubt about the going-concern assumption.」
The Company continues to report operating losses and overdue principal and interest payments, and continues to disclose material doubt about the going-concern assumption. It states that there have been no material changes. - FY2016-Q4WorsenedAnnual report
「The Company recorded an operating loss of ¥311.055 million in the previous fiscal year and also recorded an operating loss of ¥31.778 million in the cumulative second quarter of the current fiscal year. In addition, procedures to extend the repayment dates of borrowings from certain financial institutions and others have not been completed, and repayment of principal and payment of interest are overdue. As a result, circumstances exist that raise substantial doubt about the going-concern assumption.」
The cumulative second quarter turned to an operating loss of ¥31.778 million from operating income in the previous first quarter, while overdue principal and interest payments and incomplete maturity extensions continue to be disclosed as giving rise to material doubt about the going-concern assumption. - FY2016-Q3First statedAnnual report
「The Group recorded an operating loss of ¥276.969 million in the previous consolidated fiscal year, but recorded operating income of ¥5.955 million in the cumulative first quarter of the current consolidated fiscal year. However, procedures to extend the repayment dates of borrowings from certain financial institutions and others have not been completed, and repayment of principal and payment of interest are overdue. As a result, circumstances exist that raise substantial doubt about the going-concern assumption.」
Although the company recorded operating income, it states that material doubt exists about the going-concern assumption because repayment of principal and interest is overdue and extensions of the borrowing maturities remain incomplete.