Lower vehicle utilization in Vietnam's chauffeur-service business and sluggish performance in the merchandise sales business
First written in FY2017-Q3. 5 of 18 entries say "Mitigated", first in FY2022. Latest entry: FY2023.
No other company in this theme has enough history to compare yet.
- FY2023MitigatedAnnual report
「Revenue and profit increased, owing in part to strong performance in Vietnam's passenger transportation business as demand for buses and chauffeur services recovered with the increase in business travelers and tourists following the removal of entry restrictions, as well as expansion of the import and export-related business through the acquisition of new customers in Hong Kong.」
As demand for buses and chauffeur services recovered in Vietnam, the passenger transportation business performed strongly, reducing the previous risks of lower vehicle utilization and sluggish business performance. - FY2023-Q3MitigatedAnnual report
「Revenue and profit increased, owing in part to strong performance in Vietnam's passenger transportation business as increased demand for chauffeur services accompanied the normalization of social and economic activity, as well as expansion of the import and export-related business through the acquisition of new customers in Hong Kong.」
As social and economic activity normalized in Vietnam, demand for chauffeur services increased and the passenger transportation business performed strongly, partially reducing the previous risks of lower vehicle utilization and sluggish business performance. - FY2023-Q2MitigatedAnnual report
「Segment profit increased, owing in part to solid performance in the import and export-related business and the expansion of the passenger transportation business in Vietnam due to increased demand for chauffeur services.」
Increased demand for chauffeur services in Vietnam expanded the passenger transportation business, partially reducing the previous risks of lower vehicle utilization and sluggish business performance. - FY2023-Q1MitigatedAnnual report
「Revenue and profit increased, owing in part to orders for large cargo in the import and export-related business and the recovery trend in Vietnam's passenger transportation business as social and economic activity normalized.」
As social and economic activity normalized in Vietnam, the passenger transportation business entered a recovery trend, partially reducing the previous risks related to sluggish performance and intensifying competition. - FY2022MitigatedAnnual report
「May 2021: The liquidation proceedings for LOGITEM VIETNAM CORP.NO.1 were completed, and its business was effectively transferred to LOGITEM VIETNAM NORTH SERVICE CO.,LTD. and LOGITEM VIETNAM SOUTH SERVICE CO.,LTD.」
The liquidation proceedings for the former Vietnam passenger transportation business were completed, and the business was transferred to new companies in the northern and southern regions. - FY2020Suspension of business activities and transition to liquidation proceedingsAnnual report
「As of 31 March 2020, LOGITEM VIETNAM CORP.NO.1 was in liquidation proceedings and was not conducting business activities.」
The previous theme of intensifying competition and declining utilization in Vietnam's passenger transportation business transitioned to a status in which the relevant company had suspended business activities and was in liquidation proceedings. - FY2020-Q3RestatedAnnual report
「In Vietnam, we worked to stabilize operations at the new warehouse opened in Da Nang while proceeding with the rebuilding of the sales structure.」
As a measure following organizational restructuring in the Vietnam business, efforts to stabilize operations at the new Da Nang warehouse and rebuild the sales structure are continuing. - FY2020-Q1Stabilization measures following organizational restructuringAnnual report
「Overseas, we worked to stabilize operations following organizational restructuring in the logistics and passenger transportation businesses in Vietnam.」
Regarding Vietnam's passenger transportation business, efforts are under way to stabilize operations following organizational restructuring, as a measure following the previous business reorganization. - FY2019MaterialisedAnnual report
「Revenue and profit declined, owing in part to lower handling volumes in the construction-related and merchandise sales businesses of domestic subsidiaries compared with the previous fiscal year, when a large project was won, as well as lower operating revenue in Vietnam's passenger transportation business amid intensifying competition.」
In Vietnam's passenger transportation business, lower operating revenue due to intensifying competition is cited as an annual factor behind the decline in revenue and profit. - FY2019-Q3MaterialisedAnnual report
「Revenue and profit declined, owing in part to lower handling volumes in the construction-related business of domestic subsidiaries compared with the same period of the previous year, when a large project was won, as well as a temporary increase in expenses associated with rebuilding the sales structure following organizational restructuring in Vietnam's passenger transportation business.」
In Vietnam's passenger transportation business, expenses for rebuilding the sales structure following organizational restructuring temporarily increased and emerged as an actual factor behind the decline in revenue and profit. - FY2019-Q2Organizational restructuring implementedAnnual report
「Overseas, we implemented organizational restructuring in the logistics and passenger transportation businesses in Vietnam with a view to future business development.」
Organizational restructuring was implemented in Vietnam's passenger transportation business and other operations as a measure following the decision to terminate and dissolve the business. - FY2019-Q1Progress in launching a new company and restructuring the organizationAnnual report
「In Vietnam's passenger transportation business, we focused on the smooth launch of a new company and proceeded with organizational restructuring.」
Regarding Vietnam's passenger transportation business, the launch of a new company and organizational restructuring are under way as measures following the previous decision to terminate and dissolve the business. - FY2018Decision to terminate and dissolve Vietnam's passenger transportation businessAnnual report
「Following the decision to terminate and dissolve LOGITEM VIETNAM CORP.NO.１ during the following consolidated fiscal year, the carrying amounts of business assets and rental assets scheduled for disposal were reduced to their recoverable amounts, and the reduction for the period was recorded as an impairment loss under extraordinary losses.」
The theme previously described against a backdrop of intensifying competition and declining profitability in the passenger transportation business moved into a specific organizational restructuring phase involving the termination of the business and a resolution for dissolution. - FY2018-Q3RestatedAnnual report
「Revenue and profit declined because, at LOGITEM VIETNAM CORP. NO.1, the number of contracts stagnated amid intensified competition in passenger transportation and costs increased due to higher fuel prices, while L&K TRADING CO.,LTD. closed some stores to improve its merchandise sales business.」
In Vietnam's passenger transportation business, the number of contracts continued to stagnate amid intensifying competition, while the closure of some stores in the merchandise sales business as part of efforts to improve performance continues to be reported. - FY2018-Q2RestatedAnnual report
「Revenue and profit declined, owing in part to stagnant growth in the number of contracts amid intensifying competition in the passenger transportation business at LOGITEM VIETNAM CORP. NO.1, as well as the closure of some stores by L&K TRADING CO.,LTD. to improve the merchandise sales business.」
In Vietnam's passenger transportation business, the number of contracts continued to stagnate amid intensifying competition, while the closure of some stores in the merchandise sales business continues to be reported. - FY2018-Q1MaterialisedAnnual report
「Revenue and profit declined, owing in part to stagnant growth in the number of contracts amid intensifying competition in the passenger transportation business at LOGITEM VIETNAM CORP. NO.1, as well as the closure of some stores by L&K TRADING CO.,LTD. to improve the merchandise sales business.」
In Vietnam's passenger transportation business, the number of contracts stagnated amid intensifying competition, while some stores in the merchandise sales business were closed as part of efforts to improve performance. - FY2017MaterialisedAnnual report
「Revenue and profit declined, owing in part to lower vehicle utilization and the impact of price adjustments associated with fluctuations in fuel prices in the chauffeur-service business at LOGITEM VIETNAM CORP. NO.1, as well as lower sales of merchandise handled by L&K TRADING CO.,LTD.」
Lower vehicle utilization in Vietnam's chauffeur-service business and lower sales in the merchandise sales business continued to contribute to the annual decline in revenue and profit. - FY2017-Q3First statedAnnual report
「Revenue and profit declined, owing in part to lower vehicle utilization and the impact of price adjustments associated with fluctuations in fuel prices in the chauffeur-service business at LOGITEM VIETNAM CORP.NO.1, as well as continued sluggish performance in the merchandise sales business at L&K TRADING CO.,LTD.」
In Other Businesses, lower vehicle utilization in Vietnam's chauffeur-service business and sluggish performance in the merchandise sales business are cited for the first time as actual factors behind the decline in revenue and profit.