Impairment of Software and Other Fixed Assets and Reversal of Deferred Tax Assets Due to More Conservative Earnings Outlook
First written in FY2019-Q3. 9 of 11 entries say "Materialised", first in FY2019-Q3. Latest entry: FY2025.
Takihyo moved to the "Worse" side of this theme in 2019, 1 year before the typical company in this theme (2020).
The whole theme swung hardest in 2020: 5 of 10 companies on the "Worse" side.
4 other companies' latest entry also says "Mitigated".
- FY2025MitigatedAnnual report
「For stores where the earnings initially anticipated could no longer be expected, the carrying amounts were reduced and the reductions of ¥34 million were recorded as impairment losses.」
The impairment loss on fixed assets decreased from ¥183 million in the previous fiscal year to ¥34 million. Impairment of store assets continued, but the amount recognized declined. - FY2024MitigatedAnnual report
「During the current consolidated fiscal year, the Company reduced the carrying amounts of certain operating assets and other assets of the apparel and textile-related business to their recoverable amounts and recognized the reduction as an extraordinary loss.」
Impairment of fixed assets continued, but the impairment loss decreased from ¥283 million in the previous fiscal year to ¥183 million. - FY2023MaterialisedAnnual report
「For certain operating assets and other assets of the apparel and textile-related business, the carrying amount was reduced to the recoverable amount and the reduction was recorded as an extraordinary loss.」
The Company recognized an impairment loss of ¥283 million on fixed assets, including ¥250 million in the apparel and textile-related business and ¥32 million in the lifestyle business. - FY2022MaterialisedAnnual report
「During the current consolidated fiscal year, the gross profit margin declined due to higher raw material prices, the depreciation of the yen, higher ocean freight rates, and increased labor costs at contracted manufacturing plants. As a result of recording substantial losses, particularly in the fourth quarter (December to February), the Company recorded substantial operating, ordinary, and net losses attributable to owners of the parent for the full year, as well as negative operating cash flow.」
In connection with the deterioration in the earnings outlook, the Company recognized an impairment loss of ¥133 million on fixed assets, resulting in an actual loss. - FY2022-Q3MaterialisedAnnual report
「The Group groups assets based on the smallest units that generate largely independent cash flows, based on business classifications. For certain operating assets and other assets of the apparel and textile-related business, the Group reduced their carrying amounts to their recoverable amounts and recognized the reduction as an extraordinary loss.」
The Company recognized an impairment loss of ¥93 million on operating assets and other assets of the apparel and textile-related business during the nine months ended the third quarter of the current fiscal year. - FY2021-Q3MaterialisedAnnual report
「In the apparel and textile-related business segment and Other, comprising new-format retail businesses, the Company recognized an impairment loss on fixed assets. The impairment loss recognized during the nine months ended the third quarter of the current consolidated fiscal year was ¥117 million.」
In addition to the apparel and textile-related business, impairment losses on fixed assets included store assets for the new-format retail business, totaling ¥117 million for the nine months ended the third quarter of the current fiscal year. - FY2021-Q2MaterialisedAnnual report
「In the apparel and textile-related business segment, the Company recognized an impairment loss on fixed assets. The impairment loss recognized during the six months ended the second quarter of the current consolidated fiscal year was ¥42 million.」
The Company recognized an impairment loss of ¥42 million on fixed assets in the apparel and textile-related business. - FY2021-Q1MaterialisedAnnual report
「In the apparel and textile-related business segment, the Company recognized an impairment loss on fixed assets. The impairment loss recognized during the three months ended the first quarter of the current consolidated fiscal year was ¥42 million.」
The Company states that it recognized an impairment loss of ¥42 million on fixed assets in the apparel and textile-related business. - FY2020-Q3MaterialisedAnnual report
「In the apparel and textile-related business segment, the Company recognized an impairment loss on fixed assets. The impairment loss recognized during the nine months ended the third quarter of the current consolidated fiscal year was ¥95 million.」
Separately from the ¥1,376 million in software and other assets recognized in the same period of the previous year, the Company recognized an impairment loss of ¥95 million on fixed assets in the apparel and textile-related business during the nine months ended the current third quarter. - FY2019MaterialisedAnnual report
「As a result of taking a conservative view, in accordance with accounting standards, of earnings from the apparel and textile-related business in the next fiscal year and thereafter, the Company wrote off in a single charge fixed assets consisting primarily of software related to the apparel and textile-related business, among other items, and recorded an impairment loss of ¥1,507 million as an extraordinary loss.」
As a result of taking a more conservative view of earnings from the next fiscal year onward, the Company states that it recognized an impairment loss of ¥1,507 million on software and other fixed assets. - FY2019-Q3MaterialisedAnnual report
「As a result of taking a conservative view, in accordance with accounting standards, of earnings from the apparel and textile-related business in the next fiscal year and thereafter, the Company wrote off in a single charge fixed assets consisting primarily of software related to the apparel and textile-related business, and recorded an impairment loss of ¥1,376 million as an extraordinary loss in the third quarter. In addition, the Company reversed deferred tax assets and recorded ¥189 million in adjustments to income taxes.」
As a result of taking a conservative view of earnings from the apparel and textile-related business from the next fiscal year onward, the Company recognized an impairment loss of ¥1,376 million on software and other fixed assets and reversed ¥189 million in deferred tax assets.