Risk to receivables recovery due to the bankruptcy filing by 日本地図共販株式会社
First written in FY2017-Q3. 1 of 2 entries say "Materialised", first in FY2017-Q3. Latest entry: FY2017.
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- FY2017RestatedAnnual report
「In terms of profit and loss, in addition to a substantial decline in revenue and an increase in returns, manufacturing costs and selling, general and administrative expenses both rose sharply due to higher retirement benefit expenses, an increase in provisions for bonuses following changes to the personnel system, and higher allowance for doubtful accounts associated with the bankruptcy of a specialist map wholesaler that was a business partner, among other factors.」
An increase in the allowance for doubtful accounts related to the bankruptcy of 日本地図共販 continues to be recorded as a factor increasing full-year expenses. - FY2017-Q3MaterialisedAnnual report
「日本地図共販株式会社, a business partner of the Company, filed with the Tokyo District Court on 10 February 2017 for commencement of bankruptcy proceedings. As a result, the Company's receivables from the company became subject to a risk of non-collection or delayed collection. Types and amounts of receivables from 日本地図共販株式会社 as of 10 February 2017: trade receivables ¥118.680 million; bills receivable ¥19 million; total ¥137.680 million. The value of the Company's shares in the company may also be impaired. The impact on the Company's consolidated financial statements is currently under review.」
The business partner's filing for commencement of bankruptcy proceedings created a risk of non-collection or delayed collection for trade receivables of ¥118.680 million and bills receivable of ¥19 million, totaling ¥137.680 million. The possibility of impairment of the shares held was also disclosed, and the impact on the consolidated financial statements was under review.