Exit from the education business and concentration of management resources on the food-service business
First written in FY2018-Q3. 1 of 2 entries say "Achieved", first in FY2019-Q1. Latest entry: FY2019-Q1.
No other company in this theme has enough history to compare yet.
- FY2019-Q1AchievedAnnual report
「As of the end of the previous consolidated fiscal year, the Company Group (the Company and its affiliated companies) had exited the education business.」
The education business ended at the end of the previous consolidated fiscal year, leaving the food-service business as the Group's sole business from the first quarter under review. - FY2018-Q3First statedAnnual report
「The Company resolved to terminate the franchise agreements relating to the education business, comprising the cram-school and English-conversation businesses, upon expiry of their contractual term on 31 March 2018, to terminate the education business as of the same date, and to transfer fixed assets relating to certain English-conversation and cram-school locations. The transfers were completed on 1 January 2018 and 1 February 2018.」
The Company first explicitly stated its plan and decision to terminate the education business as of 31 March 2018 and transfer the fixed assets of 65 English-conversation locations and 34 cram-school locations. It cited the concentration of management resources on the food-service business and further improvements in operating efficiency as the reasons for the transfers.