Impairment losses in the upstream business due to falling crude oil prices and other factors
First written in FY2016. 12 of 24 entries say "Restated". Latest entry: FY2026.
Osaka Gas moved to the "Worse" side of this theme in 2020, 3 years after the typical company in this theme (2017).
The whole theme swung hardest in 2022: 4 of 7 companies on the "Worse" side.
2 other companies' latest entry also says "Materialised".
- FY2026MaterialisedAnnual report
「The operating assets in Western Australia were acquired for projects involving the refining, liquefaction and sale of natural gas produced in the region. In light of the impact of the decline in crude oil prices and other factors, we reassessed the value of the business, reduced the carrying amount to the recoverable amount, and recorded the decrease of ¥9,213 million as an impairment loss under extraordinary losses.」
The impact of falling crude oil prices and other factors emerged as a decline in the value of Australian upstream business assets, resulting in an impairment loss of ¥9,213 million. - FY2026-H1RestatedAnnual report
「No new business or other risks arose during the six months ended 30 June. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
We have reconfirmed that there have been no new incidents or material changes relating to the risk of impairment losses in the upstream business due to falling crude oil prices and other factors. - FY2025-H1RestatedAnnual report
「No new business or other risks arose during the six months ended 30 June. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
We determined that there had been no new incidents or material changes relating to the risk of impairment losses in the upstream business due to falling crude oil prices and other factors. - FY2024-Q2RestatedAnnual report
「No new business or other risks arose during the six months ended 30 September. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
We determined that there had been no new incidents or material changes relating to the risk of impairment losses in the upstream business due to falling crude oil prices and other factors. - FY2024-Q1RestatedAnnual report
「No new business or other risks arose during the three months ended 30 June. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
We determined that there had been no new incidents or material changes relating to the risk of impairment losses in the upstream business due to falling crude oil prices and other factors. - FY2023MaterialisedAnnual report
「During the consolidated fiscal year, Osaka Gas Australia reassessed the uncertainty surrounding an undeveloped project, recognized an indication of impairment, and conducted an impairment test. As the recoverable amount was lower than the carrying amount, it recorded an impairment loss of ¥3,820 million.」
An impairment loss of ¥3,820 million arose in the Australian upstream business against a backdrop of uncertainty surrounding an undeveloped project. - FY2023-Q3MaterialisedAnnual report
「In the overseas energy segment, we recorded an impairment loss of ¥3,719 million in the Australian upstream business as an extraordinary loss during the cumulative third-quarter consolidated period.」
An impairment loss of ¥3,719 million was recorded in the Australian upstream business, newly bringing the decline in the value of upstream business assets to light. - FY2023-Q2MaterialisedAnnual report
「In the overseas energy segment, we recorded an impairment loss of ¥3,569 million in the Australian upstream business as an extraordinary loss during the second-quarter consolidated accounting period.」
An impairment loss of ¥3,569 million was recorded in the Australian upstream business, newly bringing the decline in the value of upstream business assets into the results. - FY2022MaterialisedAnnual report
「Osaka Gas Australia reassessed the uncertainty surrounding an undeveloped project, recognized an indication of impairment, and conducted an impairment test. As the recoverable amount was lower than the carrying amount, it recorded an impairment loss of ¥5,295 million.」
Due to the uncertainty surrounding undeveloped projects in Australia and Timor-Leste, an impairment loss of ¥5,295 million was recorded. - FY2022-Q2RestatedAnnual report
「No new business or other risks arose during the six months ended 30 September. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
We determined that there had been no new incidents or material changes relating to the risk of impairment losses in the upstream business due to falling crude oil prices and other factors. - FY2022-Q1RestatedAnnual report
「No new business or other risks arose during the three months ended 30 June. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
We determined that there had been no new incidents or material changes relating to the risk of impairment losses in the upstream business due to falling crude oil prices and other factors. - FY2021MaterialisedAnnual report
「During the consolidated fiscal year, Osaka Gas Australia recognized an indication of impairment in an LNG development project in which it had invested, as crude oil prices remained low, and conducted an impairment test. As the recoverable amount was lower than the carrying amount, it recorded an impairment loss of ¥14,208 million.」
Due to persistently low crude oil prices, an impairment loss of ¥14,208 million was recorded on an Australian LNG development project, bringing the decline in the value of upstream business assets into the results. - FY2021-Q3RestatedAnnual report
「The global spread of COVID-19 has resulted in a decline in crude oil prices and other energy prices. For our group, we estimate impairment losses on fixed assets based on the assumption that crude oil prices will gradually recover over the medium to long term. The impact of COVID-19 on crude oil prices and other energy prices is highly uncertain and may affect the group's financial position and operating results in the future.」
We continue to disclose the COVID-19-related decline in crude oil and other energy prices and the uncertainty surrounding impairment estimates. - FY2021-Q1WorsenedAnnual report
「The global spread of COVID-19 has resulted in a decline in crude oil prices and other energy prices. For our group, we estimate impairment losses on fixed assets based on the assumption that crude oil prices will gradually recover over the medium to long term. The impact of COVID-19 on crude oil prices and other energy prices is highly uncertain and may affect the group's financial position and operating results in the future.」
The decline in crude oil and other energy prices related to COVID-19 occurred, creating uncertainty in impairment estimates for the upstream business and other operations. - FY2020MaterialisedAnnual report
「In light of the impact of the review of the development plans and other factors, we reassessed the value of the business, reduced the carrying amount of the operating assets to the recoverable amount, and recorded the decrease as an impairment loss under extraordinary losses.」
Impairment losses totaling ¥15,568 million were recorded on assets and other items related to upstream development in Australia's Northern Territory and Timor-Leste, bringing the decline in the value of upstream business assets into the results. - FY2020-Q3MaterialisedAnnual report
「In the overseas energy segment, we recorded an impairment loss of ¥4,494 million on operating assets as an extraordinary loss in the third-quarter consolidated accounting period. This reflected a reassessment of the value of an Australian gas development project in which we participate mainly through a consolidated subsidiary, taking into account the impact of the review of the development plan and other factors. We reduced the carrying amount to the recoverable amount and recorded the decrease as an impairment loss under extraordinary losses.」
An impairment loss of ¥4,494 million on operating assets was recorded in the upstream and overseas gas development businesses during the third quarter following a review of the development plans. - FY2020-Q2RestatedAnnual report
「No new business or other risks arose during the six-month period ended the second quarter. There have also been no material changes in the business and other risks described in the annual securities report for the previous fiscal year.」
We determined that there had been no new incidents or material changes relating to the risk of impairment losses in the upstream business due to falling crude oil prices and other factors. - FY2020-Q1RestatedAnnual report
「During the cumulative first-quarter period, there were no newly arising business or other risks. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
We determined that there had been no new incidents or material changes relating to the risk of impairment losses in the upstream business due to falling crude oil prices and other factors. - FY2019-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, no new Business and Other Risks arose. There were also no material changes to the Business and Other Risks described in the Annual Securities Report for the previous fiscal year.」
We determined that there had been no new incidents or material changes relating to the risk of impairment losses in the upstream business due to falling crude oil prices and other factors. - FY2018WorsenedAnnual report
「Impairment losses totaled ¥11,249 million, of which the significant impairment losses were as follows. A total of ¥9,616 million was recorded on operating assets in Western Province, Papua New Guinea.」
Impairment losses increased from ¥1,744 million in the previous fiscal year to ¥11,249 million, including ¥9,616 million recorded for the Papua New Guinea business. - FY2018-Q3RestatedAnnual report
「No new business or other risks arose during the nine-month period ended the third quarter. There have also been no material changes in the business and other risks described in the annual securities report for the previous fiscal year.」
We determined that there had been no new incidents or material changes relating to the risk of impairment losses in the upstream business due to falling crude oil prices and other factors. - FY2018-Q2RestatedAnnual report
「No new business or other risks arose during the six-month period ended the second quarter. There have also been no material changes in the business and other risks described in the annual securities report for the previous fiscal year.」
We determined that there had been no new incidents or material changes relating to the risk of impairment losses in the upstream business due to falling crude oil prices and other factors. - FY2017MitigatedAnnual report
「Extraordinary losses decreased by ¥9.9 billion from the previous fiscal year to ¥4.6 billion. This was mainly due to a decrease in impairment losses.」
Impairment losses decreased from ¥14,588 million in the previous fiscal year to ¥1,744 million in the current fiscal year, reducing the impact of the large impairment charge recorded mainly in the upstream business in the previous fiscal year. - FY2016MaterialisedAnnual report
「Although an impairment loss was recorded in the upstream business,」
The company stated that it had recorded an impairment loss in the upstream business during the fiscal year, and disclosed details of an impairment loss of ¥14,588 million and total operating assets of ¥12,807 million in Papua New Guinea and Australia.