Damage to Facilities from Natural Disasters
First written in FY2016. 4 of 11 entries say "Restated". Latest entry: FY2021.
Sakurajima Futo moved to the "Worse" side of this theme in 2018, 4 years before the typical company in this theme (2022).
The whole theme swung hardest in 2020: 21 of 75 companies on the "Worse" side.
52 other companies' latest entry also says "Restated".
- FY2021RestatedAnnual report
「In addition, because the Company's business facilities are concentrated at a single location, all business activities could be suspended if they are damaged by a major typhoon or earthquake. The typhoon that struck in September 2018 had no impact at all on business activities, but caused damage equivalent to a loss of ¥280 million.」
The risk of all business activities being suspended during a natural disaster due to the concentration of facilities remains ongoing. Regarding the past typhoon damage, the Company explains that there was no impact on operations and no significant impact on operating results because of insurance coverage. - FY2021-Q2MitigatedAnnual report
「In addition, profit attributable to owners of the parent was ¥190 million, an increase of ¥24 million, or 14.7%, from the same period of the previous year, mainly because ¥55 million in insurance proceeds for facilities damaged by the September 2018 typhoon was recorded under extraordinary income.」
The Company recorded ¥55 million in insurance proceeds for damage from a past typhoon under extraordinary income, describing progress in recovering losses related to the affected facilities. - FY2020WorsenedAnnual report
「In addition, because the Company's business facilities are concentrated at a single location, all business activities could be suspended if they are damaged by a major typhoon or earthquake.」
The Company explicitly states that all business activities could be suspended during a typhoon or earthquake because its facilities are concentrated in one location, and explains that earthquakes could affect operating results because insurance payments are subject to limits. - FY2020-Q3RestatedAnnual report
「Insurance proceeds for facilities damaged by the typhoon in the previous fiscal year and gains on the sale of part of the company's shareholdings were recorded as extraordinary income. Removal costs for tanks damaged by the same typhoon and losses on the disposal of property, plant and equipment associated with renewal investment in other facilities were recorded as extraordinary losses.」
The accounting treatment of the insurance proceeds and removal costs for the previous year's typhoon damage was reconfirmed. This was subsequent accounting treatment following the receipt of insurance proceeds and removal work described through the previous quarter. - FY2020-Q2MitigatedAnnual report
「In addition, because the Company received ¥12 million in insurance proceeds for facilities damaged by last year's typhoon, it recorded the proceeds under extraordinary income. It also recorded ¥10 million in removal costs under extraordinary losses after completing the removal of a tank damaged by the same typhoon.」
The Company received insurance proceeds for the typhoon damage and completed removal of the damaged tank, advancing its response to the affected facilities. - FY2019MaterialisedAnnual report
「In addition, because the Company suffered significant damage from the typhoon that struck in September last year, it recorded ¥279 million as a disaster-related loss under extraordinary losses, while also recording the confirmed amount of ¥319 million in insurance proceeds payable for the damage under extraordinary income.」
Damage from Typhoon No. 21 in September 2018 actually occurred, and ¥279 million in disaster-related losses and ¥319 million in insurance proceeds were recorded. - FY2019-Q3MaterialisedAnnual report
「A loss of ¥29.107 million related to damage caused by Typhoon No. 21 in September 2018 was recorded. This loss includes ¥12.883 million in provision for disaster-related losses, representing the amount reasonably estimable at this time.」
Damage to facilities and other assets actually occurred as a result of Typhoon No. 21, and ¥29.107 million in disaster-related losses and ¥12.883 million in provision for disaster-related losses were recorded. Insurance proceeds are also expected to be received. - FY2019-Q2MaterialisedAnnual report
「With regard to the impact of Typhoon No. 21 on the Company, there were no injuries or fatalities, and although some buildings and facilities were damaged, operations were barely affected. We are currently investigating the amount of damage to the affected buildings and facilities, but most of the damage is expected to be covered by insurance.」
Damage to some buildings and facilities actually occurred as a result of Typhoon No. 21. However, there were no injuries or fatalities, operations were barely affected, and most of the damage is expected to be covered by insurance. - FY2018RestatedAnnual report
「However, if a natural disaster beyond expectations occurs, damage to facilities and other assets could adversely affect operating results and financial condition.」
Measures such as inspections, repairs and disaster-prevention rules are described, while the residual risk of natural disasters exceeding expectations remains ongoing. - FY2017RestatedAnnual report
「However, if a natural disaster beyond expectations occurs, damage to facilities and other assets could adversely affect operating results and financial condition.」
Measures such as inspections, repairs and disaster-prevention rules are described, while the residual risk of natural disasters exceeding expectations is reiterated. - FY2016First statedAnnual report
「However, if a natural disaster beyond expectations occurs, damage to facilities and other assets could adversely affect operating results and financial condition.」
While pursuing inspections and repairs, disaster-prevention rules, and measures to minimise damage to personnel and facilities, disasters exceeding expectations remain a residual risk.