Negative net worth and material events related to the going-concern assumption
First written in FY2021-Q3. 4 of 9 entries say "Mitigated", first in FY2022-Q1. Latest entry: FY2024.
The whole theme swung hardest in 2025: 2 of 10 companies on the "Worse" side.
8 other companies' latest entry also says "Dropped".
- FY2024DroppedAnnual report
「For the consolidated fiscal year, consolidated net sales were ¥255,427 million, up 1.3% year on year, consolidated operating income was ¥7,272 million, down 36.3%, consolidated ordinary income was ¥7,977 million, down 33.8%, and net income attributable to owners of the parent was ¥7,540 million, down 36.0%.」
This annual securities report contains no disclosure of negative net assets or significant doubt or uncertainty regarding the going concern assumption, which had been disclosed through the previous fiscal year, and reports a profitable full-year performance. - FY2023-Q3MitigatedAnnual report
「During the third-quarter cumulative period, the recovery in domestic travel continued steadily and began to show signs of recovery, supported by the nationwide travel assistance program launched on 11 October 2022 and the easing of restrictions on events and other activities. At the same time, the Group worked to secure revenue from businesses other than travel and, aided by the effects of its business structure reforms, recorded consolidated operating income of ¥8,518 million, consolidated ordinary income of ¥9,045 million and quarterly net income attributable to owners of the parent of ¥9,077 million. However, the impact of COVID-19 and the effects of exchange-rate fluctuations remain situations requiring continued monitoring.」
The Group recorded a profit for the third-quarter cumulative period, supported by the recovery in domestic travel, revenue from businesses other than travel and the effects of its business structure reforms. Although it maintained its determination that no material uncertainty existed regarding the going concern assumption, it stated that the infectious disease and exchange-rate fluctuations remained situations requiring continued monitoring. - FY2023-Q2RestatedAnnual report
「During the second-quarter cumulative period, the Group worked to secure revenue from businesses other than travel and, aided by the effects of its structural reforms, recorded consolidated operating income of ¥2,025 million, consolidated ordinary income of ¥2,528 million and quarterly net income attributable to owners of the parent of ¥2,564 million. However, the impact of the spread of COVID-19 and the continuing trend toward a weaker yen remain situations requiring continued monitoring.」
The Group recorded a profit for the cumulative period through the quarter, supported by revenue from businesses other than travel and the effects of its structural reforms, and expected not to have negative net assets. Meanwhile, it stated that the impact of the infectious disease and the weaker yen remained situations requiring continued monitoring. - FY2023-Q1MitigatedAnnual report
「During the first-quarter cumulative period, the Group recorded consolidated operating income of ¥735 million, consolidated ordinary income of ¥1,074 million and quarterly net income attributable to owners of the parent of ¥1,177 million. However, the impact of the spread of COVID-19 remains a situation that requires continued monitoring. Accordingly, we have determined that no material uncertainty exists regarding the going concern assumption.」
Negative net assets had been eliminated, and the Group recorded operating income, ordinary income and quarterly net income in the first quarter. While stating that the impact of the infectious disease remained a situation requiring continued monitoring, the company maintained its determination that no material uncertainty existed regarding the going concern assumption. - FY2022RestatedAnnual report
「Although negative net assets were eliminated at the end of June 2021, the Group continued to be significantly affected by the spread of COVID-19 during the consolidated fiscal year, recording a consolidated operating loss of ¥7,686 million, a consolidated ordinary loss of ¥3,886 million and a net loss attributable to owners of the parent of ¥5,771 million. Events and other circumstances therefore remain that raise significant doubt about the going concern assumption.」
Although negative net assets had been eliminated, the company recorded an operating loss, ordinary loss and net loss for the full year and stated that events and other circumstances raising significant doubt about the going concern assumption remained. - FY2022-Q3MitigatedAnnual report
「We will continue to promote business structure reforms aimed at achieving the targets of our medium-term management plan. Based on our consolidated earnings forecast for the fiscal year ending March 2022, we expect not to have negative net assets as of the end of March 2022. Accordingly, we have determined that no material uncertainty exists regarding the going concern assumption.」
Although significant doubt regarding the going concern assumption was still disclosed, the company expected not to have negative net assets at the end of March 2022 through the continuation of its business structure reforms and stated that it had determined that no material uncertainty existed. - FY2022-Q1MitigatedAnnual report
「Negative net assets had been eliminated by the end of the first quarter consolidated accounting period through the implementation of capital measures. However, during the first-quarter cumulative period, the Group recorded a consolidated operating loss of ¥7,431 million, a consolidated ordinary loss of ¥6,022 million and a quarterly net loss attributable to owners of the parent of ¥6,442 million, due in part to the impact of the spread of the infection. Events and other circumstances therefore remain that raise significant doubt about the going concern assumption.」
Although negative net assets had been eliminated, the company stated that losses caused by the impact of the infectious disease and significant doubt about the going concern assumption remained. - FY2021WorsenedAnnual report
「In the consolidated fiscal year, the Group recorded an operating loss of ¥27,082 million and a net loss attributable to owners of the parent of ¥28,456 million, resulting in negative net assets of ¥9,654 million at the end of the fiscal year. Events and other circumstances have therefore arisen that raise significant doubt about the going concern assumption.」
Negative net assets widened from ¥3,463 million at the end of the third quarter to ¥9,654 million at the end of the fiscal year, and significant events related to the going concern assumption continued. - FY2021-Q3MaterialisedAnnual report
「As a result, the company recorded an operating loss of ¥26,194 million and a quarterly net loss attributable to owners of the parent of ¥21,615 million for the first 3 quarters of the current consolidated fiscal year, leaving net assets at the end of the third quarter of the current consolidated fiscal year in a negative position of ¥3,463 million. Accordingly, the company recognizes the existence of events that raise material doubt about the going-concern assumption.」
The company stated that the disappearance of demand caused by COVID-19 and accumulated losses had resulted in negative net worth of ¥3,463 million, and that events giving rise to material doubt about the going-concern assumption had actually occurred. At the same time, it determined that no material uncertainty was recognized as a result of business-structure reforms and other measures.