Risks Related to Leased Stores, Security Deposits and Store Expansion Plans
First written in FY2017. 9 of 10 entries say "Materialised", first in FY2018-Q3. Latest entry: FY2023-Q3.
Wagokoro moved to the "Worse" side of this theme in 2018, 2 years before the typical company in this theme (2020).
The whole theme swung hardest in 2020: 4 of 7 companies on the "Worse" side.
2 other companies' latest entry also says "Materialised".
- FY2023-Q3MaterialisedAnnual report
「The Company recognized ¥11.968 million in impairment losses as extraordinary losses.」
The risk related to declining profitability of store-related and other assets materialized as ¥11.968 million in impairment losses during the cumulative period of the third quarter. - FY2022-Q3MaterialisedAnnual report
「The Company recognized ¥1.695 million in impairment losses and ¥572,000 in losses on the disposal of fixed assets as extraordinary losses.」
The Company recognized ¥1.695 million in impairment losses and ¥572,000 in losses on the disposal of fixed assets due to declining profitability and closures of store-related assets. - FY2022-Q1MaterialisedAnnual report
「The Company recognized ¥1.695 million in impairment losses and ¥572,000 in losses on the disposal of fixed assets as extraordinary losses.」
The Company recognized impairment losses and losses on the disposal of fixed assets related to stores in connection with store closures and other events. - FY2020-Q3MaterialisedAnnual report
「The Company recognized ¥20.095 million in losses on the disposal of fixed assets, ¥45.590 million in impairment losses, ¥39.879 million in valuation losses on investment securities and ¥40.518 million in losses on the sale of investment securities, totaling ¥146.084 million, as extraordinary losses in connection with store closures and other events.」
In connection with the closure of a large number of stores and the scrap-and-build program, the Company recognized extraordinary losses including ¥20.095 million in losses on the disposal of fixed assets and ¥45.590 million in impairment losses. - FY2020-Q2MaterialisedAnnual report
「The Company recognized ¥15.742 million in losses on the disposal of fixed assets, ¥45.590 million in impairment losses, ¥39.879 million in valuation losses on investment securities and ¥26.831 million in losses on the sale of investment securities, totaling ¥128.043 million, as extraordinary losses in connection with store closures and other events.」
In connection with store closures and the scrap-and-build program, primarily involving unprofitable stores, the Company recognized ¥15.742 million in losses on the disposal of fixed assets and ¥45.590 million in impairment losses. - FY2019MaterialisedAnnual report
「For store assets, the carrying amount of the asset group was reduced to its recoverable amount, and the decrease of ¥60.937 million was recognized as an impairment loss.」
Impairment losses of ¥60.937 million resulting from lower store profitability were recognized in the fiscal year ended December 2019. - FY2019-Q3MaterialisedAnnual report
「For store assets where operating losses have continued and it has been determined unlikely that the full carrying amount of the fixed assets of the asset group can be recovered, the carrying amount of the asset group was reduced to its recoverable amount, and an impairment loss of ¥9.624 million was recognized.」
Impairment losses of ¥9.624 million resulting from lower store profitability were recognized during the cumulative period of the current quarter. - FY2018MaterialisedAnnual report
「For store assets where operating losses have continued and it has been determined unlikely that the full carrying amount of the fixed assets of the asset group can be recovered, the carrying amount of the asset group was reduced to its recoverable amount, and the decrease of ¥16.514 million was recognized as an impairment loss.」
The previously disclosed risk of declining store profitability materialized as an impairment loss of ¥16.514 million on store interiors, equipment and other assets at 10 stores. - FY2018-Q3MaterialisedAnnual report
「The Company's business was affected by a sharp decline in customer visits, particularly in the Kyoto area where most of its stores are located, due to the Northern Osaka Earthquake on 18 June, the heavy rains in western Japan from 28 June, Typhoon No. 21 and other events. The Hokkaido Eastern Iburi Earthquake also resulted in the postponement of new store openings.」
Natural disasters actually caused a sharp decline in customer visits and postponement of new store openings. - FY2017First statedAnnual report
「If properties meeting the required conditions cannot be secured, stores may not be opened as planned. In addition, if store profitability declines after opening, impairment losses on store assets may be recognized, which may affect the Company's operating results and financial condition.」
Store-related risks underlying the expansion of store openings, including difficulty recovering security deposits if a lessor becomes insolvent.