TIDMTAK 
 
RNS Number : 6879L 
Takefuji Corporation 
11 May 2010 
 

    Announcement of Posting Extraordinary Loss in Consideration of Transfer 
                       Procedures etc. of the Assets Held 
 
Takefuji Corporation and its subsidiaries (the "Group") have been seeking to 
transfer a part of fixed assets and a part of loans receivable to procure 
necessary funds for near-term operation and had decided to adopt bidding for 
said transfer respectively.  Based on the bidding results, the Company's board 
of directors' meeting held on May 11, 2010 resolved the policy of the transfer. 
While contract procedures will be progressed hereafter, in the financial results 
for the fiscal year ended March 2010, we expect to record impairment loss 
(extraordinary loss) stemmed from writing down fixed assets, which are subject 
to the transfer, to recoverable value, as well as expecting to record provision 
for loss on transfer of receivables (extraordinary loss) for anticipated loss 
related to the transfer of a part of loans receivable.  The details are 
described below. 
 
                                    Details 
 
1. Transfer of a part of fixed assets 
(1) Impairment of fixed assets subject to transfer of part of fixed assets 
The Group conventionally adopted different impairment procedures for business 
assets and unutilized assets; regarding business assets, they were divided into 
groups based on the operation, regarding real estate properties for rent and 
unutilized assets (including real estate properties for investment), each 
property was labeled for dividing into groups. 
In the current consolidated fiscal year, transfer of a part of fixed assets, 
which had been sought to procure necessary funds for near-term operation, 
entered into a stage of concrete procedures.  Given that we have reached price 
setting procedure by bidding and that the transfer policy was resolved based on 
the bidding results, regarding fixed assets subject to such transfer, each 
property shall be labeled for dividing into groups regardless of the usage etc. 
of the properties. 
Such changes of usage that materially lowered recoverable value caused 
impairment loss regarding fixed assets subject to transfer.  Thus 8,718 million 
yen of impairment loss (extraordinary loss) is expected to be recorded due to 
writing down book value of fixed assets to recoverable value for the 
consolidated fiscal year ended March 2010. 
 
(2) Breakdown of expected impairment regarding fixed assets subject to transfer 
    (million yen) 
+-------------------+-----------------+-----------------+------------+---+ 
|      Holder       |      Usage      |  Description    |    Expected    | 
|                   |                 |                 |  impairment    | 
+-------------------+-----------------+-----------------+----------------+ 
|     Takefuji      |    Business     |  Buildings and  |        232 |   | 
|    Corporation    |   properties    |   structures    |            |   | 
+                   +                 +-----------------+------------+---+ 
|                   |                 |       Land        |           1,345 |                 | 
+                   +                 +-------------------+-----------------+-----------------+ 
|                   |                 |      Total        |           1,577 |                 | 
+                   +-----------------+-------------------+-----------------+-----------------+ 
|                   |    Real estate    |  Buildings and  |             628 |            | 
|                   |  properties for   |   structures    |                 |            | 
|                   |       rent        |                 |                 |            | 
+                   +                   +-----------------+-----------------+------------+ 
|                   |                   |    Equipment      |              11 |                 | 
+                   +                   +-------------------+-----------------+-----------------+ 
|                   |                   |    Land etc.      |           2,687 |                 | 
+                   +                   +-------------------+-----------------+-----------------+ 
|                   |                   |      Total        |           3,327 |                 | 
+                   +-------------------+-------------------+-----------------+-----------------+ 
|                   |    Unutilized     |  Buildings and  |              32 |            | 
|                   |    properties     |   structures    |                 |            | 
+                   +                   +-----------------+-----------------+------------+ 
|                   |                   |    Equipment      |               0 |                 | 
+                   +                   +-------------------+-----------------+-----------------+ 
|                   |                   |    Land etc.      |             314 |                 | 
+                   +                   +-------------------+-----------------+-----------------+ 
|                   |                   |      Total        |             346 |                 | 
+                   +-------------------+-------------------+-----------------+-----------------+ 
|                   |      Total        |  Buildings and  |             892 |            | 
|                   |                   |   structures    |                 |            | 
+                   +                   +-----------------+-----------------+------------+ 
|                   |                   |    Equipment      |              12 |                 | 
+                   +                   +-------------------+-----------------+-----------------+ 
|                   |                   |    Land etc.      |           4,346 |                 | 
+                   +                   +-------------------+-----------------+-----------------+ 
|                   |                   |      Total        |           5,249 |                 | 
+-------------------+-------------------+-------------------+-----------------+-----------------+ 
|  TDS Co., Ltd.    |    Business     |  Buildings and  |         75 |   | 
|                   |   properties    |   structures    |            |   | 
+                   +                 +-----------------+------------+---+ 
|                   |                 |    Equipment      |               0 |                 | 
+                   +                 +-------------------+-----------------+-----------------+ 
|                   |                 |    Land etc.      |           3,393 |                 | 
+                   +                 +-------------------+-----------------+-----------------+ 
|                   |                 |      Total        |           3,469 |                 | 
+-------------------+-----------------+-------------------+-----------------+-----------------+ 
|          The Group total            |  Buildings and  |        967 |   | 
|                                     |   structures    |            |   | 
+                                     +-----------------+------------+---+ 
|                                     |    Equipment      |              12 |                 | 
+                                     +-------------------+-----------------+-----------------+ 
|                                     |    Land etc.      |           7,739 |                 | 
+                                     +-------------------+-----------------+-----------------+ 
|                                     |      Total        |           8,718 |                 | 
+-------------------+-----------------+-----------------+------------+---+ 
(Reference) 
1. Planned schedule of transfer (transfer of ownership)     Target: May-end 2010 
2. The total impairment loss is expected to be 10,601 million yen.  The amount 
includes impairment write-down related to fixed assets subject to the transfer 
above, 1,231 million yen of the impairment loss recorded by the 3rd quarter and 
652 million yen of impairment loss based on conventional method such as 
equivalent amount of assets related to branch offices scheduled to be closed 
hereafter. 
 
2. Transfer of a part of loans receivable 
(1) Expected loss related to transfer of loans receivable 
Same as the fixed assets above, we decided to transfer a part of loans 
receivable managed at our regional loan collection offices to procure necessary 
funds for near-term operation.  We have progressed practical discussion with 
counterparties and we are currently at the stage of acquiring a Letter of 
Intent to purchase loans receivable as a part of procedures to determine loans 
receivable in scope and transfer price.  Thus, it is possible to reasonably 
estimate the loss related to such transfer of loans receivable and the 
probability is extremely high and we expect to record 11,276 million yen of 
expected loss as provision for loss on transfer of receivables (extraordinary 
loss) in the financial results for the fiscal year ended March 2010. 
(2) Breakdown of expected loss related to transfer 
   (million yen) 
+-----------------------------------------------+------------+--+ 
|  Description of loans receivable subject to   |Expected loss  | 
|                   transfer                    |               | 
+-----------------------------------------------+---------------+ 
| Expected loss related to transfer of loans    |     10,587 |  | 
| receivable managed at regional loan           |            |  | 
| collection offices (the amount after          |            |  | 
| deducting credit loss allowance corresponding |            |  | 
| to the receivables and transfer price from    |            |  | 
| the book value of the receivables)            |            |  | 
+-----------------------------------------------+------------+--+ 
| Interest revenues etc. those which are        |        689 |  | 
| subject to repayment to the buyer at the time |            |  | 
| of the transfer of loans receivable.          |            |  | 
| (Interests etc. paid between the reference    |            |  | 
| date, Jan. 29, 2010, and the accounting       |            |  | 
| closing date)                                 |            |  | 
+-----------------------------------------------+------------+--+ 
|                    Total                      |     11,276 |  | 
+-----------------------------------------------+------------+--+ 
(Reference) 
Planned schedule of transfer of loans receivable     Target: May-end 2010 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCGCGDUUGBBGGB 
 

Takefuji Corp (LSE:TAK)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024 Plus de graphiques de la Bourse Takefuji Corp
Takefuji Corp (LSE:TAK)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024 Plus de graphiques de la Bourse Takefuji Corp