Consolidation of Yokohama operations, business continuity planning and cash flow improvement through construction of the Shin-Yokohama Building
First written in FY2019-Q2. 2 of 4 entries say "Advanced", first in FY2019-Q3. Latest entry: FY2020-Q3.
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- FY2020-Q3AdvancedAnnual report
「Property, plant and equipment increased by ¥986 million from the end of the previous consolidated fiscal year to ¥7,134 million. Although construction in progress decreased by ¥1,279 million, buildings and structures increased by ¥2,157 million due mainly to the construction of new head office and Tsurumi ND buildings in Yokohama.」
In connection with the Shin-Yokohama Building plan, construction of the new Tsurumi ND Building in Yokohama increased buildings and structures by ¥2,157 million, while construction in progress declined by ¥1,279 million. The project has advanced to the stage involving capitalization of the building. - FY2019RestatedAnnual report
「This was in connection with the rebuilding of the former Yokohama Sales Office building. Because the asset group described above will be derecognized in connection with the rebuilding, its entire carrying amount was recognized as an impairment loss under extraordinary losses.」
In connection with the Shin-Yokohama Building plan, the rebuilding and derecognition of the former Yokohama Sales Office building were confirmed, with a full-year impairment loss of ¥27 million and building demolition costs of ¥31.5 million. No new description of a completion stage has been provided since the previous quarter. - FY2019-Q3AdvancedAnnual report
「Because a decision was made to rebuild the building used by the Yokohama Sales Office due to its age, the company decided to demolish it. As a result, during the nine months ended the third quarter, it recognized an impairment loss of ¥27 million and a provision for building demolition costs of ¥21 million.」
Under the Shin-Yokohama Building construction plan, the decision to demolish the aging former Yokohama Sales Office building progressed, and an impairment loss of ¥27 million and a provision for building demolition costs of ¥21 million were recognized. The project advanced from the construction resolution and planning stage in the previous quarter to the execution stage involving demolition. - FY2019-Q2First statedAnnual report
「At a meeting held on 13 November 2018, the Board of Directors resolved to construct the Shin-Yokohama Building (tentative name). The building used by the current Yokohama Sales Office was completed in 1987 and has deteriorated over time, so the company will strengthen its response to earthquakes and other disasters to improve business continuity. The Kawasaki Sales Office and Product Center will be consolidated in the Shin-Yokohama Building to improve operating efficiency. In connection with this consolidation, relocating to the Shin-Yokohama Building is intended to improve cash flow by reducing rent. The company aims to create an advanced workplace that strengthens its security systems, raises productivity, establishes new work styles and draws out creativity. Total project cost: approximately ¥500 million; construction start: January 2019 (scheduled); relocation to the Shin-Yokohama Building: January-February 2020 (scheduled).」
The Board of Directors resolved to construct the Shin-Yokohama Building on 13 November 2018. The Kawasaki Sales Office and Product Center will be consolidated to improve BCP in response to the aging facilities, improve cash flow through rent reductions, and enhance security and productivity. The total project cost is approximately ¥500 million, construction is scheduled to start in January 2019, and relocation is scheduled for January-February 2020.