Poor performance in developing sales channels for paper catalogs for celebratory return gifts and resulting impairment
First written in FY2019. 4 of 5 entries say "Mitigated", first in FY2020-Q1. Latest entry: FY2020.
No other company in this theme has enough history to compare yet.
- FY2020MitigatedAnnual report
「The Company discontinued publication of its paper gift catalog after the March 2019 issue and completely withdrew from the unprofitable gift business in November of the same year. By concentrating management resources on the core maternity and baby divisions, revenue declined, but the segment loss improved.」
The Company discontinued issuing the paper catalogues that had fallen below plan and led to impairment, and fully withdrew from the gift business in November 2019, improving losses from the related business. - FY2020-Q3MitigatedAnnual report
「During the nine-month period of the current consolidated fiscal year, the Company continued cost-reduction efforts in the gift division, including discontinuing catalogue issuance and reviewing its overall logistics structure. It also made steady progress in reforming its earnings structure by concentrating management resources on its core maternity and baby divisions.」
For the gift division, which fell below plan and led to impairment in the previous fiscal year, the Company continued to discontinue catalogue issuance and review its logistics structure, while concentrating management resources on its core maternity and baby divisions. For the nine-month period, the business recorded segment profit of ¥31 million. - FY2020-Q2MitigatedAnnual report
「In the gift division, the Company worked to reduce costs by discontinuing catalogue issuance and reviewing its logistics structure, while pursuing earnings-structure reform by concentrating management resources on its core maternity division and the steadily growing baby division.」
For the gift division, which fell below plan and led to impairment, the Company continued to discontinue catalogue issuance and review its logistics structure, while proceeding with earnings-structure reform by concentrating management resources on the baby division. - FY2020-Q1MitigatedAnnual report
「While working to improve profitability in the gift division, including by discontinuing the issuance of new catalogues, the Company pursued reform of its earnings structure through selective concentration of its business, including by focusing on expanding sales in the steadily growing baby division.」
For the paper-catalogue business for congratulatory gifts, which fell below plan and led to impairment, the Company discontinued issuing new catalogues and proceeded with earnings-structure reform through selective concentration of its business. - FY2019MaterialisedAnnual report
「The Company worked to expand catalogue sales through paper media with the aim of developing the congratulatory gift market for new mothers, but sales remained below plan and became a major factor in the deterioration of results for the fiscal year ended March 2019. In light of this situation, the Company undertook a major review of the business and conservatively reassessed the goodwill associated with the acquisition of the shares of 株式会社エンジェリーベ. As a result, it recognized ¥317 million as an extraordinary loss through the impairment of that goodwill.」
Paper-catalogue sales of congratulatory gifts for new mothers under the Angeliebe business fell below plan and became a major factor in the deterioration of results. The business was extensively reviewed, and goodwill of ¥317.539 million was impaired.