Kawasaki Heavy Industries : Recording of the Impairment Loss in the Rolling Stock Segment for the Fiscal Year Ending March 31, 2...
March 31, 2021 at 03:34 am
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FOR RELEASE: March 31, 2021
Report of the Impairment Loss in the Rolling Stock Segment
for the Fiscal Year Ending March 31, 2021
Kawasaki Heavy Industries, Ltd. (KHI) hereby notifies recognition of extraordinary impairment loss in the Rolling Stock segment for the fiscal year ending March 31, 2021 as follows.
1. Outline
In the consolidated and unconsolidated results of operations for the fiscal year ending March 31, 2021, KHI has recorded an extraordinary impairment loss of approximately 11.4 billion yen.
KHI has recognized an impairment loss in the Rolling Stock segment in consideration of recoverability of the related domestic fixed assets. This loss mainly resulted from reviews of investment plans for domestic railway companies, delays in works of overseas projects and postponements of bidding due to the spread of COVID-19 infection.
2. Others
The amount of the financial impact due to the issue stated above is included in "Revision of the Earnings Forecasts for the Fiscal Year Ending March 31, 2021" announced today.
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Kawasaki Heavy Industries Ltd. published this content on 31 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 March 2021 07:33:05 UTC.
Kawasaki Heavy Industries, Ltd. specializes in manufacturing and marketing of transportation and industrial machines equipments. Net sales break down by activity as follows:
- sale of motorcycles and engines (29.8%);
- sale of aerospace equipments (19.9%): aircrafts, helicopters, missiles, electronic equipments, monorails, etc.;
- sale of gas turbines (19.8%): turbines for naval, marines and industrial applications, generators, propulsion systems, etc. The group also develops naval construction activity (construction of ships, submarines, bulk carriers, oil tankers, etc.);
- sale of precision machines (16.8%): primarily hydraulic machines. The group is also developing a manufacturing of industrial machinery activity (tunnel boring machines, curling machines, grinding machines, etc.);
- sale of railway equipments (8.4%): train cars, electric and diesel locomotives, monorails, etc.;
- other (5.3%).