Risk of impairment losses on fixed assets due to declining profitability of vessels and other assets
First written in FY2016. 9 of 23 entries say "Worsened", first in FY2017. Latest entry: FY2025.
Kawasaki Kisen moved to the "Worse" side of this theme in 2016, 1 year before the typical company in this theme (2017).
1 other company's latest entry also says "Mitigated".
- FY2025MitigatedAnnual report
「The impairment loss separately presented in the previous consolidated fiscal year has been included in “Other extraordinary losses” from the current consolidated fiscal year because it is no longer material.」
The ¥258 million impairment loss recognized in the previous fiscal year was no longer material in the current fiscal year and is no longer presented separately. The impairment risk associated with declining profitability of fixed assets decreased in numerical terms. - FY2024WorsenedAnnual report
「The resulting reduction of ¥258 million was recognized as an impairment loss and recorded as an extraordinary loss.」
Impairment losses increased from ¥18 million in the previous fiscal year to ¥258 million, and impairment associated with declining profitability of fixed assets, primarily in product logistics, continued to be recognized. - FY2023MitigatedAnnual report
「During the consolidated fiscal year, ... the resulting reduction of ¥18 million was recognized as an impairment loss and recorded as an extraordinary loss.」
Impairment losses fell sharply from ¥18,159 million in the previous fiscal year to ¥18 million, and impairment recognized in association with declining profitability was limited. - FY2023-Q2MitigatedAnnual report
「Impairment loss 332 —」
No impairment loss was recognized in the cumulative second quarter of the current consolidated fiscal year, down from ¥332 million in the same period of the previous year. No impairment associated with the decline in profitability at vessels and other assets, which had increased in the previous fiscal year, was recognized in the cumulative quarter. - FY2022WorsenedAnnual report
「During the consolidated fiscal year, ... the carrying amount was reduced to its recoverable amount, and the resulting reduction of ¥18,159 million was recognized as an impairment loss and recorded as an extraordinary loss.」
Impairment losses increased from ¥6,307 million in the previous fiscal year to ¥18,159 million. Of this amount, ¥17,391 million was recognized on vessels scheduled for sale in the Energy Resources business, reflecting an increase in impairment associated with declining profitability. - FY2022-Q3WorsenedAnnual report
「In the Energy Resources segment, an impairment loss was recognized on vessels. The impairment loss recognized in the cumulative third quarter of the current consolidated fiscal year was ¥12,443 million.」
Impairment losses totaled ¥12,878 million in the cumulative third quarter, of which ¥12,443 million was in the Energy Resources segment. They increased substantially from ¥3,817 million in the same period of the previous year, reflecting an increase in impairment associated with declining profitability. - FY2022-Q2MitigatedAnnual report
「Impairment loss 1,014 332」
Impairment losses decreased from ¥1,014 million in the same period of the previous year to ¥332 million. - FY2021WorsenedAnnual report
「During the consolidated fiscal year, the carrying amounts of business-use assets or asset groups whose profitability had deteriorated significantly due to poor performance and other factors, as well as assets scheduled for sale whose expected sale prices were below their carrying amounts, were reduced to their recoverable amounts. The resulting reduction of ¥6,307 million was recognized as an impairment loss and recorded as an extraordinary loss.」
Impairment losses increased from ¥604 million in the previous fiscal year to ¥6,307 million, and were recognized on assets in the energy resources, product logistics and dry bulk businesses, among others. - FY2021-Q3WorsenedAnnual report
「Impairment loss 254 3,817」
Impairment losses increased from ¥254 million in the same period of the previous year to ¥3,817 million in the cumulative third quarter, reflecting an increase in impairment recognized in association with declining profitability at vessels and other assets. - FY2021-Q2WorsenedAnnual report
「Impairment loss 289 1,014」
Impairment losses increased from ¥289 million in the same period of the previous year to ¥1,014 million in the cumulative second quarter, reflecting an increase in impairment recognized in association with declining profitability at vessels and other assets. - FY2021-Q1WorsenedAnnual report
「Impairment losses 994」
An impairment loss of ¥994 million, which had not been recognized in the prior-year first quarter, was recognized in the current first quarter. Impairment losses associated with declining profitability at vessels and other assets, which had contracted for the full previous fiscal year, increased again. - FY2020MitigatedAnnual report
「For operating assets or asset groups whose profitability had deteriorated significantly because of sluggish performance and other factors, and for assets held for sale whose planned sale prices were below their carrying amounts, the Group reduced the carrying amounts to their recoverable amounts and recorded the resulting reduction of ¥604 million as impairment losses under extraordinary losses.」
Impairment losses decreased from ¥9,001 million in the previous fiscal year to ¥604 million, but impairment continued to be recognized in the product logistics and dry bulk segments, among others. - FY2020-Q3Continued recognition of impairment lossesAnnual report
「Impairment losses 322 254」
The Group also recorded ¥254 million in impairment losses during the nine-month period. Although this was down from ¥322 million in the same period of the previous year, impairment resulting from declining profitability of vessels and other assets continued to be recognized. - FY2020-Q2Continued recognition of impairment lossesAnnual report
「Impairment losses 279 289」
The Group also recorded ¥289 million in impairment losses during the first six months, indicating that impairment associated with declining profitability of vessels and other assets continued. This was a slight increase from ¥279 million in the same period of the previous year. - FY2019WorsenedAnnual report
「For operating assets or asset groups whose profitability had deteriorated significantly because of sluggish performance and other factors, and for assets held for sale whose planned sale prices were below their carrying amounts, the Group reduced the carrying amounts to their recoverable amounts and recorded the resulting reduction of ¥9,001 million as impairment losses under extraordinary losses.」
Impairment losses increased from ¥7,635 million in the previous fiscal year to ¥9,001 million, including ¥6,735 million in the product logistics segment and ¥1,272 million in the energy resources segment. - FY2019-Q3Continued recognition of impairment lossesAnnual report
「Impairment losses － 322」
The Group also recorded ¥322 million in impairment losses during the nine-month period, indicating that impairment associated with declining profitability of vessels and other assets continued. This was an increase from ¥279 million in the previous cumulative quarter. - FY2019-Q2Continued recognition of impairment lossesAnnual report
「Impairment losses － 279」
The Group also recorded ¥279 million in impairment losses during the six-month period, indicating that impairment associated with declining profitability of vessels and other assets continued. - FY2019-Q1Continued recognition of impairment lossesAnnual report
「Impairment losses － 178」
The Group also recorded ¥178 million in impairment losses in the first quarter, indicating that impairment associated with declining profitability of vessels and other assets continued, albeit on a small scale. - FY2018Continued recognition of impairment losses and changes in affected assetsAnnual report
「During the consolidated fiscal year, the Group recorded total impairment losses of ¥7,635 million, including ¥3,864 million on assets used in the tanker business, ¥2,960 million on assets used in the bulk carrier business and ¥262 million on assets used in the container shipping business.」
Although impairment losses decreased from ¥20,362 million in the previous fiscal year, impairment resulting from declining profitability continued in the tanker, bulk carrier and container shipping businesses, among others. - FY2017WorsenedAnnual report
「During the consolidated fiscal year, the Group recorded total impairment losses of ¥20,362 million, including ¥9,583 million on assets used in the heavy-lift shipping business, ¥4,649 million on assets used in the offshore support vessel business and ¥3,127 million on assets used in the container shipping business.」
Impairment losses of ¥20,362 million arose again following the previous fiscal year, with the affected businesses expanding to include heavy-lift shipping, offshore support vessels and container shipping. - FY2017-Q3RestatedAnnual report
「Impairment losses 3,976 2,682」
During the cumulative period, the Group also recorded ¥2,682 million in impairment losses on fixed assets, including vessels, indicating that impairment resulting from declining profitability continued. - FY2017-Q2RestatedAnnual report
「Impairment losses 452 2,533」
The Group also recorded ¥2,533 million in impairment losses during the cumulative period, indicating that impairment risk associated with declining profitability of vessels and other assets continued to materialize. - FY2016MaterialisedAnnual report
「The carrying amounts of fixed assets, including vessels, held by the Group may become unrecoverable because of declining profitability. If this results in the recognition of impairment losses, it could adversely affect the Group's financial condition and operating results.」
Impairment losses for the period amounted to ¥19,249 million and were recorded on assets used in the bulk carrier, steel raw materials and coastal and domestic shipping businesses, among others.