Impairment risk due to declining profitability of hotel facilities
First written in FY2020. 10 of 14 entries say "Restated". Latest entry: FY2026-H1.
The Kyoto Hotel moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
The whole theme swung hardest in 2020: 6 of 8 companies on the "Worse" side.
2 other companies' latest entry also says "Restated".
- FY2026-H1RestatedAnnual report
「There have been no material changes to the accounting estimates and the assumptions used in those estimates described under “Management's Analysis of Financial Position, Operating Results and Cash Flows” in the securities report for the previous fiscal year.」
It states that there have been no material changes in the accounting estimates and assumptions regarding hotel facility profitability, impairment and other matters. - FY2025-H1RestatedAnnual report
「There have been no material changes to the accounting estimates and the assumptions used in those estimates described under “Management's Analysis of Financial Position, Operating Results and Cash Flows” in the securities report for the previous fiscal year.」
It states that there have been no material changes in the accounting estimates and assumptions regarding hotel facility profitability, impairment and other matters. - FY2024-Q1RestatedAnnual report
「There have been no material changes to the accounting estimates and the assumptions used in those estimates described under “Management's Analysis of Financial Position, Operating Results and Cash Flows” in the securities report for the previous fiscal year.」
It states that there have been no material changes in the accounting estimates and assumptions regarding hotel facility profitability, impairment and other matters. - FY2023RestatedAnnual report
「The company holds a substantial amount of property, plant and equipment related to its hotel facilities. If, due to a decline in market value or profitability, among other factors, recovery of the investment in these assets is no longer expected, impairment charges will be recognized, which may affect the company's performance and financial condition.」
It continues to disclose the risk of impairment of property, plant and equipment related to hotel facilities due to declining market value or profitability. - FY2023-Q3RestatedAnnual report
「There have been no material changes to the accounting estimates and the assumptions used in those estimates described under “Management's Analysis of Financial Position, Operating Results and Cash Flows” in the securities report for the previous fiscal year.」
It states that there have been no material changes in the accounting estimates and assumptions regarding hotel facility profitability, impairment and other matters. - FY2023-Q2RestatedAnnual report
「There have been no material changes to the accounting estimates and the assumptions used in those estimates described under “Management's Analysis of Financial Position, Operating Results and Cash Flows” in the securities report for the previous fiscal year.」
It states that there have been no material changes in the accounting estimates regarding hotel facility profitability, impairment and other matters in light of the impact of COVID-19. - FY2022RestatedAnnual report
「The company holds a substantial amount of property, plant and equipment related to its hotel facilities. If, due to a decline in market value or profitability, among other factors, recovery of the investment in these assets is no longer expected, impairment charges will be recognized, which may affect the company's performance and financial condition.」
It continues to disclose the risk of impairment of property, plant and equipment related to hotel facilities due to declining market value or profitability. - FY2022-Q3RestatedAnnual report
「There have been no material changes from the assumptions regarding accounting estimates related to the impact of COVID-19 described in the previous fiscal year's securities report under “Section 5 Accounting Status, 1 Financial Statements, Notes (Significant Accounting Estimates).”」
It states that there have been no material changes in the assumptions underlying accounting estimates related to impairment of property, plant and equipment and other matters in light of the impact of COVID-19. - FY2022-Q2RestatedAnnual report
「There have been no material changes from the assumptions regarding accounting estimates related to the impact of COVID-19 described in the previous fiscal year's securities report under “Section 5 Accounting Status, 1 Financial Statements, Notes (Significant Accounting Estimates).”」
It states that there have been no material changes in the assumptions underlying accounting estimates related to impairment of property, plant and equipment and other matters in light of the impact of COVID-19. - FY2022-Q1RestatedAnnual report
「There have been no material changes from the assumptions regarding accounting estimates related to the impact of COVID-19 described in the previous fiscal year's securities report under “Section 5 Accounting Status, 1 Financial Statements, Notes (Significant Accounting Estimates).”」
It states that there have been no material changes in the assumptions underlying accounting estimates related to impairment of property, plant and equipment and other matters in light of the impact of COVID-19. - FY2021-Q3WorsenedAnnual report
「As recovery is expected to take longer than anticipated at the end of the previous fiscal year, the company has partially revised its assumptions and assumes that recovery will gradually begin through the following fiscal year and reach levels comparable to normal years from the fiscal year ending March 2023 onward.」
The assumption regarding the timing of recovery used in testing property, plant and equipment for impairment has been revised, with recovery to levels comparable to normal years assumed to occur from the fiscal year ending March 2023 onward. No impairment charge was recognized in the third quarter. - FY2021-Q2WorsenedAnnual report
「As recovery is expected to take longer than anticipated at the end of the previous fiscal year, the company has partially revised its assumptions and assumes that recovery will gradually begin from July 2020 and reach levels comparable to normal years from the following fiscal year onward.」
The recovery assumption used in testing property, plant and equipment for impairment has been revised to reflect a recovery taking longer than anticipated at the end of the previous fiscal year. However, no impairment charge on property, plant and equipment was recognized in the second quarter. - FY2021-Q1WorsenedAnnual report
「As recovery is expected to take longer than anticipated at the end of the previous fiscal year, the company has partially revised its assumptions and assumes that recovery will gradually begin from July 2020 and reach levels comparable to normal years from the following fiscal year onward.」
As the assumption was revised to reflect a slower recovery than anticipated at the end of the previous fiscal year, the assumptions used to estimate the decline in hotel facility profitability and impairment risk have become more conservative. However, no impairment charge on property, plant and equipment was recognized in the first quarter. - FY2020First statedAnnual report
「The company holds a substantial amount of property, plant and equipment related to its hotel facilities. If, due to a decline in market value or profitability, among other factors, recovery of the investment in these assets is no longer expected, impairment charges will be recognized, which may affect the company's performance and financial condition.」
For the substantial amount of property, plant and equipment related to its hotel facilities, it explicitly discloses for the first time the risk of impairment charges arising from a decline in market value or profitability.