Optimizing the overseas business portfolio through the transfer of BPU shares
First written in FY2023-Q3. 1 of 4 entries say "Advanced", first in FY2023. Latest entry: FY2024-Q2.
57 other companies' latest entry also says "Achieved".
- FY2024-Q2AchievedAnnual report
「At a meeting of the Board of Directors held on 31 January 2023, the Company resolved to transfer all shares of its consolidated subsidiary BPU to Minerva S.A., and the share transfer was completed on 31 August 2023. As a result, the beef business related to BPU has been classified as a discontinued operation since the previous fourth-quarter consolidated accounting period.」
The transfer of all BPU shares to Minerva S.A. was completed on 31 August 2023, and the beef business related to BPU was classified as a discontinued operation. - FY2024-Q1Recording an impairment loss on assets held for saleAnnual report
「The disposal group classified as held for sale in connection with BPU is measured at fair value less costs to sell because its fair value less costs to sell is below its carrying amount. As a result, the loss of ¥219 million recognized during the first-quarter consolidated cumulative period was recorded under “Quarterly loss from discontinued operations” in the consolidated statement of profit or loss.」
While continuing to classify the assets held for sale in preparation for the transfer of BPU shares, the Company recorded a ¥219 million loss because fair value less costs to sell fell below carrying value. - FY2023AdvancedAnnual report
「Date of share transfer 31 October 2023 (scheduled)」
For the transfer of all BPU shares, the Company disclosed the scheduled execution date of 31 October 2023, prerequisite conditions including approval from competition authorities, and enterprise value of US$40 million. The matter progressed to classification as held for sale and as a discontinued operation. - FY2023-Q3First statedAnnual report
「At a meeting of the Board of Directors held on 31 January 2023, the Company resolved to transfer all shares of its consolidated subsidiary Breeders & Packers Uruguay S.A. (hereinafter, “BPU”) to Minerva S.A.」
As part of efforts to build an optimal portfolio, the Company resolved to transfer all BPU shares to a new partner. Enterprise value was US$40 million (reference value: ¥5.2 billion), while the final transfer price and gain or loss on the transfer after price adjustments remained undetermined.