Sale of Vessels and Other Assets, Early Termination of Charter Contracts, and Impairment
First written in FY2017. 2 of 7 entries say "Materialised", first in FY2019. Latest entry: FY2026.
Mitsui O.S.K.Lines moved to the "Worse" side of this theme in 2019, 2 years after the typical company in this theme (2017).
The whole theme swung hardest in 2023: 4 of 6 companies on the "Worse" side.
3 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「During the fiscal year, the Group recognized impairment losses on the following asset groups.」
Impairment losses on property, plant and equipment decreased from ¥11,221 million in the previous fiscal year to ¥3,837 million, but impairment recognition continued on vessels and other assets in the energy business. - FY2025WorsenedAnnual report
「During the consolidated fiscal year, the carrying amounts of operating assets of the Company and its consolidated subsidiaries whose profitability had deteriorated significantly, including LNG bunker vessels in the energy business, were written down to their recoverable amounts, and the resulting reductions were recognized as impairment losses under extraordinary losses.」
Total impairment losses on property, plant and equipment were ¥11,221 million, with impairments arising not only on vessels and other assets in the energy business but also on assets scheduled for disposal and idle assets. - FY2024MitigatedAnnual report
「During the consolidated fiscal year, the carrying amounts of groups of operating assets at consolidated subsidiaries, including LNG bunker vessels in the energy business whose profitability had deteriorated significantly, were written down to their recoverable amounts, and the resulting reductions were recognized as impairment losses under extraordinary losses.」
Impairment of LNG bunker vessels continued, but impairment losses decreased to ¥1,927 million from ¥4,008 million in the previous fiscal year. - FY2023MaterialisedAnnual report
「During the consolidated fiscal year, the carrying amounts of groups of operating assets, including LNG bunker vessels in the energy business, whose profitability had deteriorated significantly were written down to their recoverable amounts, and the resulting reductions were recognized as impairment losses under extraordinary losses.」
The risk of deteriorating profitability in vessels and other assets again materialized during the fiscal year as impairment losses of ¥4,000 million, including LNG bunker vessels and other assets. - FY2021WorsenedAnnual report
「During the consolidated fiscal year, the carrying amounts of groups of operating assets, including FSRUs in the energy transportation business, whose profitability had deteriorated significantly were written down to their recoverable amounts, and the resulting reductions were recognized as impairment losses under extraordinary losses.」
The risks of vessel sales, early termination of charter contracts and impairment materialized as impairment losses of ¥10,298 million on vessels and other assets, including ¥6,184 million related to FSRUs. - FY2019MaterialisedAnnual report
「During the consolidated fiscal year, for assets held for sale in the energy transportation business whose expected selling prices were below their carrying amounts, the carrying amounts were written down to their recoverable amounts, and the resulting reductions were recognized as impairment losses under extraordinary losses.」
The risk of vessel sales and impairment materialized as an impairment loss of ¥1,377 million on assets held for sale. - FY2017First statedAnnual report
「As the shipping market deteriorates, the profitability of the vessels held by the Group may decline, resulting in the recognition of impairment losses. Consequently, the Group's operating results and financial position may be affected.」
The risks of vessel sales, charter contract cancellations and impairment resulting from market deterioration, technological innovation and regulatory changes were disclosed. During the consolidated fiscal year, impairment losses of ¥22,273 million were recognized on vessels and other assets.