Exposure to support losses for affiliates with negative net worth
First written in FY2016. 8 of 12 entries say "Worsened", first in FY2017. Latest entry: FY2026.
Tokyo Kisen moved to the "Worse" side of this theme in 2017, 5 years before the typical company in this theme (2022).
The whole theme swung hardest in 2018: 6 of 10 companies on the "Worse" side.
10 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「*3: Companies with negative net assets. The amounts of negative net assets as of the end of the fiscal year ended March 2026 were as follows: Port Service Co., Ltd., ¥717.965 million; Ferry Kogyo Co., Ltd., ¥185.152 million.」
Even after Tokyo Bay Ferry became a wholly owned subsidiary and merged with Yokohama Boeki Building, Port Service and Ferry Kogyo continued to have negative net assets, totaling ¥903.117 million. - FY2026-H1Plan to make the company wholly owned and merge it to eliminate negative net assetsAnnual report
「Tokyo Bay Ferry Co., Ltd. has continued to report negative net assets as its passenger numbers have remained sluggish following successive reductions in tolls on the Aqua-Line, which opened in 1997, compounded by the spread of COVID-19 that began in early 2020. To eliminate this negative-net-assets position, maintain the car ferry route and improve services for passengers, we decided to make both companies wholly owned subsidiaries and then carry out the merger.」
Tokyo Bay Ferry continues to have negative net assets, but a plan was presented to eliminate them through a share acquisition making it a wholly owned subsidiary of Yokohama Boeki Building and a subsequent absorption-type merger. The remaining risk and the proposed solution are described together. - FY2025WorsenedAnnual report
「The amounts of negative net assets as of the end of the fiscal year ended March 2025 were as follows: Port Service Co., Ltd., ¥561.617 million; Tokyo Bay Ferry Co., Ltd., ¥410.487 million; Ferry Kogyo Co., Ltd., ¥154.402 million.」
There were still 3 companies with negative net assets, but the amounts for Port Service, Tokyo Bay Ferry and Ferry Kogyo all increased from the end of the previous fiscal year. - FY2024Company-specific changes in negative net worth divergeAnnual report
「*3: Companies with negative net worth. The amounts of negative net worth as of the end of the fiscal year ended March 2024 were as follows: ㈱ポートサービス: ¥528.705 million; 東京湾フェリー㈱: ¥363.125 million; フェリー興業㈱: ¥140.579 million」
The number of companies with negative net worth remained at 3. ㈱ポートサービス decreased from ¥545.634 million in the previous fiscal year, while 東京湾フェリー㈱ and フェリー興業㈱ increased to ¥363.125 million and ¥140.579 million, respectively. - FY2023WorsenedAnnual report
「*3: Companies with negative net worth. The amounts of negative net worth as of the end of the fiscal year ended March 2023 were as follows: ㈱ポートサービス: ¥545.634 million; 東京湾フェリー㈱: ¥280.704 million; フェリー興業㈱: ¥134.252 million」
The number of companies with negative net worth remained at 3. The amount of negative net worth at ㈱ポートサービス increased from ¥378.854 million to ¥545.634 million, that at 東京湾フェリー㈱ increased from ¥163.089 million to ¥280.704 million, and that at フェリー興業㈱ increased from ¥123.693 million to ¥134.252 million. - FY2022WorsenedAnnual report
「*3: Companies with negative net worth. The amounts of negative net worth as of the end of the fiscal year ended March 2022 were as follows: ㈱ポートサービス: ¥378.854 million; 東京湾フェリー㈱: ¥163.089 million; フェリー興業㈱: ¥123.693 million」
The number of companies with negative net worth increased from 2 to 3. The amount of negative net worth at ㈱ポートサービス increased from ¥151.556 million to ¥378.854 million, while that at 東京湾フェリー㈱ increased from ¥91.076 million to ¥163.089 million. フェリー興業㈱ was also reported to have negative net worth of ¥123.693 million. - FY2021MitigatedAnnual report
「*3: Companies with negative net worth. The amounts of negative net worth as of the end of the fiscal year ended March 2021 were as follows: ㈱ポートサービス: ¥151.556 million; フェリー興業㈱: ¥91.076 million」
㈱ポートサービス' negative net worth decreased from ¥478.279 million at the end of the previous fiscal year to ¥151.556 million, while フェリー興業㈱ had negative net worth of ¥91.076 million. The amount of negative net worth at ㈱ポートサービス declined substantially. - FY2020WorsenedAnnual report
「*3: Companies with negative net worth. The amounts of negative net worth as of the end of the fiscal year ended March 2020 were as follows: ㈱ポートサービス: ¥478.279 million; フェリー興業㈱: ¥39.207 million」
㈱ポートサービス' negative net worth increased from ¥408.146 million at the end of the previous fiscal year to ¥478.279 million, while フェリー興業㈱ also had negative net worth of ¥39.207 million. Exposure to support losses for companies with negative net worth is expanding. - FY2019WorsenedAnnual report
「*3: Company with negative net worth. The amount of negative net worth as of the end of the fiscal year ended March 2019 was as follows: ㈱ポートサービス: ¥408.146 million」
㈱ポートサービス' negative net worth increased from ¥384.159 million at the end of the previous fiscal year to ¥408.146 million. Its key profit and loss figures also included an ordinary loss of ¥22.265 million and a net loss of ¥22.740 million. - FY2018WorsenedAnnual report
「*3: Company with negative net worth. The amount of negative net worth as of the end of the fiscal year ended March 2018 was as follows: ㈱ポートサービス: ¥384.159 million」
㈱ポートサービス' negative net worth increased from ¥190.265 million at the end of the previous fiscal year to ¥384.159 million. Its key profit and loss figures also included an ordinary loss of ¥69.148 million and a net loss of ¥194.378 million. - FY2017WorsenedAnnual report
「*3: Company with negative net worth. The amount of negative net worth as of the end of the fiscal year ended March 2017 was as follows: ㈱ポートサービス: ¥190.265 million」
㈱ポートサービス' negative net worth increased from ¥181.809 million at the end of the previous fiscal year to ¥190.265 million. While the provision for losses on support for an affiliate was reversed on a consolidated basis, the standalone financial statements of the filing company recognized a provision of ¥190.265 million for losses on support for an affiliate. - FY2016First statedAnnual report
「*3: Company with negative net worth. The amount of negative net worth as of the end of the fiscal year ended March 2016 was as follows: ㈱ポートサービス: ¥181.809 million」
A consolidated subsidiary had negative net worth, and a provision of ¥19.659 million for losses on support for an affiliate was recognized in the consolidated financial statements.