Partial Absorption-Type Company Split of the Convenience-Store Business and Concentration of Management Resources on Hotels and New Businesses
First written in FY2018-Q3. 2 of 4 entries say "Restated". Latest entry: FY2019.
No other company in this theme has enough history to compare yet.
- FY2019RestatedAnnual report
「On 1 March 2018, the Group transferred part of its convenience-store business to Lawson and Lawson Urban Works through an absorption-type company split, substantially reducing its store network. At the same time, it pursued business expansion through new hotel openings and earnings improvements and worked to enter new business areas in its condominium front-desk business.」
Continued policy of redirecting management resources, on the premise of reducing the convenience-store business, to opening hotels, improving hotel earnings and entering new areas of the condominium front-desk business. - FY2019-Q3RestatedAnnual report
「Effective 1 March 2018, the company transferred part of its convenience-store business to Lawson and Lawson Urban Works through an absorption-type company split, substantially reducing the scale of the business to an operating structure consisting of 8 company-operated stores.」
Continued disclosure that part of the convenience-store business was transferred through an absorption-type company split, reducing the operation to 8 company-operated stores. - FY2019-Q1AdvancedAnnual report
「Effective 1 March 2018, part of the Convenience Store Business was transferred to Lawson, Inc. and Lawson Urban Works Co., Ltd. through an absorption-type company split. From that date, the company implemented a major organizational restructuring, shifting to an operating structure consisting of 8 directly managed stores and reducing the scale of the business.」
The company completed the reorganization premised on transferring part of the convenience-store business through an absorption-type company split, reducing the scale of the business, and redirecting management resources to strengthening the hotel business, creating new businesses and improving the balance sheet. - FY2018-Q3First statedAnnual report
「Based on these circumstances and the results of its review, the company determined that combining Lawson's management resources and store-opening negotiating capabilities with the store operating capabilities it has developed since its founding would enable the provision of higher-value-added services and support the further development of the businesses concerned. It also determined that concentrating management resources on strengthening the hotel business, where market expansion is expected, and creating new businesses, while improving the balance sheet, would stabilize management over the medium to long term and contribute to maximizing shareholder value. Accordingly, with the exception of certain stores, such as those attached to hotel facilities and those expected to close in the future, the company decided to transfer the assets, liabilities and other rights and obligations it holds in the businesses concerned to Lawson and the newly established company of L through an absorption-type company split.」
The transaction was approved on 22 November 2017 and the agreement was signed on 11 December. It covered 91 company-operated stores and 5 franchised stores, with the effective date scheduled for 1 March 2018. The company first explicitly stated its policy of transferring part of the convenience-store business and concentrating management resources on strengthening the hotel business, creating new businesses and improving the balance sheet.