Smooth development of the Japan and China businesses through oversight and sound management of subsidiaries
First written in FY2017. 9 of 16 entries say "Advanced", first in FY2018-Q1. Latest entry: FY2024.
9 other companies' latest entry also says "Reframed".
- FY2024ReframedAnnual report
「Because it was necessary to normalize transactions with financial institutions at an early stage, the Company decided to transfer the shares of the Hong Kong subsidiary in order to eliminate negative risks associated with expanding its China business, including damage to earnings from temporary closures and poor performance, and to increase the amount available for repayment of borrowings going forward.」
The Company changed from its previous framework of actively overseeing and supporting its subsidiaries to reducing its management and financial involvement in the China business through the transfer of the interest in the company overseeing the China operations. - FY2024-Q3AdvancedAnnual report
「During the consolidated accounting period for the third quarter, following the sale of part of the shares of 極楽湯中国控股有限公司, formerly a consolidated subsidiary of the Company, the Company excluded that company and its 10 subsidiaries (上海極楽湯企業管理集団有限公司, 極楽湯（上海）沐浴股份有限公司, 極楽湯（上海）沐浴管理有限公司, 極楽湯（武漢）沐浴有限公司, Gokurakuyu China Spa & Hotels Limited, 極楽湯（上海）建築方案諮詢有限公司, 極楽湯（蘇州）酒店管理有限公司, 吉林極楽湯酒店管理有限公司, 旅籠（上海）酒店管理有限公司 and 極楽湯（杭州）酒店管理有限公司) from the scope of consolidation.」
The sale of the Hong Kong subsidiary's shares resulted in the Hong Kong subsidiary overseeing the China business and its 10 subsidiaries being excluded from the scope of consolidation, and substantially changed the system for overseeing and supporting the subsidiaries. - FY2024-Q2AdvancedAnnual report
「Of the 146,949 shares of its Hong Kong subsidiary held by the company, representing an ownership interest of 51.00%, the company transferred 131,827 shares to 金之泉有限公司, represented by 劉暁鋒, for ¥350 million. As the company's ownership interest fell to 5.24% (15,122 shares), the company's management structure is expected to change, including changes in directors, resulting in a change in the actual control situation, regardless of the execution of the Hong Kong subsidiary's rights offering, which is currently being arranged. When control by the Group changes in the future, the consolidated subsidiaries of the China Group overseen by that Hong Kong subsidiary are expected to be removed from the scope of consolidation.」
The share transfer of the Hong Kong subsidiary overseeing the China business has been completed, reducing the Company’s ownership interest to 5.24%. The structure is progressing from one based on subsidiary oversight and financial support toward a change in effective control and the future removal of the entity from the scope of consolidation. - FY2023ReframedAnnual report
「The company decided to reduce its ownership interest in the China Group. As a result, its ownership interest in the shares of its Hong Kong subsidiary fell from 51.00% to 4.04%, and the China Group is expected eventually to cease to be a subsidiary of the company.」
The Company is restructuring its management of the China business, moving from a model based on subsidiary oversight and financial support toward reducing its financial and operational involvement through a lower ownership interest and the future removal of the business from subsidiary status. - FY2023-Q3AdvancedAnnual report
「The merger of 2 wholly owned domestic subsidiaries is scheduled for 1 April 2023, with the aim of improving operating efficiency and reducing administrative costs.」
With regard to subsidiary oversight and Group management, the merger of 2 wholly owned domestic subsidiaries is scheduled for 1 April 2023, giving concrete form to efforts to improve operating efficiency and reduce management costs. - FY2022ReframedAnnual report
「The Company will actively support and oversee its subsidiaries, incorporating financial strategy to ensure proper and sound management.」
The Company has added a restructuring of Group management and control combining financial strategy with the management and support of subsidiaries. - FY2020-Q2RestatedAnnual report
「In China, the Company proceeded with preparations to open directly operated and franchised stores.」
The Company continues to prepare for both directly operated and franchised store openings in the China business. - FY2020-Q1RestatedAnnual report
「In China, the company prepared to open company-operated and franchise locations, while also working on group restructuring through a company split and developing franchise partners.」
In the China business, the Company continues to prepare for directly operated and franchised store openings, reorganize the Group through a company split and develop franchise partners. - FY2019-Q3AdvancedAnnual report
「During the third-quarter consolidated accounting period, 極楽湯（上海）酒店管理有限公司, formerly a specified subsidiary, was excluded from the scope of consolidation following the sale of the Company’s equity interest.」
The Chinese subsidiary was excluded from the scope of consolidation following the sale of the equity interest. The ownership ratio in the operating company for the Jiading hot spring facility declined from 80.0% to 14.9%, and the business transitioned to a franchise agreement with a local partner. - FY2019-Q2AdvancedAnnual report
「To open company-operated stores, we established Jilin Gokurakuyu Hotel Management Co., Ltd. in March 2018 and Gokurakuyu (Hangzhou) Hotel Management Co., Ltd. in August 2018.」
In August 2018, the Company established a Hangzhou operating company as a subsidiary responsible for opening directly operated stores in China, expanding the operating structure for its China business. - FY2019-Q1AdvancedAnnual report
「In March 2018, the Company established 吉林極楽湯酒店管理有限公司 and 旅籠（上海）酒店管理有限公司 to open directly operated stores.」
The Company established 2 subsidiaries in Jilin and Shanghai to open directly operated stores in China, expanding the operating structure for its China business. - FY2018RestatedAnnual report
「As a holding company, the Company formulates the Group’s management strategies and manages and guides its subsidiaries. It actively supports subsidiaries including 極楽湯, which operates a hot spring business mainly in Japan, and 極楽湯中国控股有限公司, which operates the hot spring business in China and oversees the China region, to ensure proper and sound management.」
The policy of continuing to manage and support subsidiaries, including the Japanese operating company and the company overseeing the China region, through the holding company in order to facilitate business expansion in Japan and China remains in place. - FY2018-Q3AdvancedAnnual report
「In November 2017, the Company established 極楽湯(上海)酒店管理有限公司 and 極楽湯(蘇州)酒店管理有限公司 to open directly operated stores.」
The Company established 2 subsidiaries for opening directly operated stores in Shanghai and Suzhou, specifying the operating structure for its China business. - FY2018-Q2AdvancedAnnual report
「Planned subsidiary overview: Establishment: November 2017; capital: CNY 40 million (approximately ¥684 million, at ¥17.1 per CNY 1); ownership: 100% investment planned by 極楽湯（上海）沐浴股份有限公司, a sub-subsidiary of the Company」
The establishment timing, capital and planned 100% investment by the Company’s sub-subsidiary were specified for the subsidiary responsible for preparing for and operating the fifth directly operated overseas store in Suzhou. - FY2018-Q1AdvancedAnnual report
「At a meeting of the Board of Directors held on 10 August 2017, the Company resolved to open its fourth directly operated overseas store in Shanghai, China, and to establish a subsidiary responsible for preparing for and operating the store. Establishment: October 2017」
Plans to establish a subsidiary responsible for preparing for and operating the fourth directly operated overseas store in Shanghai, China, were made concrete, with establishment scheduled for October 2017. - FY2017First statedAnnual report
「In addition to 極楽湯, which was established to take over the Company’s hot spring business in Japan, and subsidiaries including Gokurakuyu China Holdings Limited (Chinese name: 極楽湯中国控股有限公司), which was established in Hong Kong to oversee business expansion in China and is majority-owned by the Company, the Company will actively support and oversee its subsidiaries to ensure proper and sound management. It will also work to facilitate business expansion in Japan and China in order to enhance the Group’s brand strength and contribute to its performance.」
Under the holding company structure, support and oversight of subsidiaries including the Japanese operating company and the company overseeing the China business are presented as an independent issue.