Exclusion from the Scope of Consolidation Following the Sale of eChannelling PLC
First written in FY2017-Q2. 1 of 2 entries say "Achieved", first in FY2017-Q2. Latest entry: FY2018-Q2.
24 other companies' latest entry also says "Cited as achieved".
- FY2018-Q2Cited as achievedAnnual report
「In the overseas business, revenue decreased from the same period of the previous year, mainly because subsidiaries including eChannelling were sold as part of the overseas business portfolio restructuring carried out in the previous fiscal year, and because the timing of revenue recognition changed following a change in the timing of MIMS Book provision.」
The overseas business portfolio restructuring carried out in the previous fiscal year, including the sale of eChannelling and other subsidiaries, is cited as a past factor behind the decline in overseas revenue. - FY2017-Q2AchievedAnnual report
「On 5 September 2016, the Company resolved to transfer all equity interests in eChannelling PLC<Sri Lanka>, a consolidated subsidiary in which a wholly owned subsidiary of the Company holds an 87.6% stake, to Mobitel (Private) Limited., which operates a mobile telecommunications business in Sri Lanka, including mobile phone services, and entered into the agreement on the same day. As a result of the transfer, eChannelling PLC has been excluded from the Company’s consolidated subsidiaries from the second quarter of the current fiscal year.」
The sale of all equity interests in eChannelling PLC was approved and contracted, and it was excluded from the scope of consolidation from the second quarter.