Discontinuation of Equity-Method Accounting Following Partial Transfer of akippa Shares
First written in FY2020-Q2. 1 of 2 entries say "Achieved", first in FY2020-Q2. Latest entry: FY2020-Q3.
3 other companies' latest entry also says "Cited as achieved".
- FY2020-Q3Cited as achievedAnnual report
「During the first nine months of the current fiscal year, the Company transferred part of its shares in akippa, Inc., an equity-method affiliate, and lost significant influence, so it discontinued applying the equity method. As a result, it recognized a ¥3,185 million gain on the sale of shares in an affiliate in Other Income in the condensed quarterly consolidated statement of income, including a ¥1,835 million gain arising from measuring the retained interest in the company's shares at fair value.」
The partial transfer of akippa shares and discontinuation of the equity method were confirmed as actual results, and a ¥3,185 million gain on sale, including a ¥1,835 million valuation gain on the retained interest, was recognized. - FY2020-Q2AchievedAnnual report
「On 1 October 2019, the Company transferred part of its shares in akippa, Inc., an equity-method affiliate, and lost significant influence, so it discontinued applying the equity method from that date. As a result of the share transfer, the Company expects to recognize a gain on the sale of shares in an affiliate of ¥3,185 million in the third quarter of the fiscal year, including a gain of ¥1,835 million arising from measuring the retained interest in the company's shares at fair value, which will be included in Other Income in the condensed quarterly consolidated statement of income.」
The Company transferred part of its akippa shares on 1 October 2019 and discontinued applying the equity method after losing significant influence. It expects to recognize a ¥3,185 million gain on the sale of shares in an affiliate, including a ¥1,835 million gain from fair value measurement of the retained interest.