The Royal Hotel,Limited (9713) · RiskMaterialised
Conclusion of Litigation Concerning RIHGA Royal Hotel Tokyo and Recognition of an Impairment Loss
First written in FY2016. 2 of 2 entries say "Materialised", first in FY2016. Latest entry: FY2018-Q3.
2entries
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Fixed-asset impairment following the conclusion of hotel rent litigationA theme 1 companies write about · 1 as a headwind · 0 as a tailwind
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- FY2018-Q3MaterialisedAnnual report
「In connection with this transfer, the Company recorded a loss on the sale of fixed assets of ¥3,080 million as an extraordinary loss in its non-consolidated financial results for the fiscal year ended March 2018. However, because the fixed assets had already been fully impaired in the consolidated accounts, the transfer had no impact on consolidated results for the fiscal year ended March 2018.」
In connection with the transfer of the fixed assets related to Rihga Royal Hotel Tokyo to a subsidiary, a loss on the sale of fixed assets of ¥3,080 million was recorded in the non-consolidated accounts. The Company explained that the assets had already been fully impaired on a consolidated basis. - FY2016MaterialisedAnnual report
「The net loss attributable to owners of the parent was ¥423 million following the recognition of an impairment loss of ¥1,858 million on operating assets of RIHGA Royal Hotel Tokyo.」
Following the conclusion of the lawsuit seeking confirmation of a rent reduction, the recoverability of the Tokyo hotel's assets was reviewed, resulting in the recognition of an impairment loss of ¥1,858 million and a litigation-related loss of ¥256 million.