Restructuring of the China Business
First written in FY2016. 9 of 16 entries say "Advanced", first in FY2017-Q1. Latest entry: FY2020.
0 other companies' latest entry also says "Restated".
- FY2020RestatedAnnual report
「The liquidation proceedings for our Chinese subsidiary, 好麗姿（上海）服飾商貿有限公司, were finalized in December 2019, and a gain on liquidation of an affiliated company of ¥955 million resulting from the liquidation of the Chinese subsidiary was recorded as extraordinary income.」
We reconfirmed, based on the full-year results, the completion of the subsidiary's liquidation following the closure of all stores in the Chinese retail business. - FY2020-Q3RestatedAnnual report
「The liquidation proceedings in China were finalized on 11 December 2019, and a gain on liquidation of an affiliated company of ¥955 million was recorded as extraordinary income.」
We reconfirmed that the liquidation proceedings conducted following the closure of all stores in the Chinese retail business had been finalized. - FY2020-Q2AchievedAnnual report
「The procedures required under local laws and regulations were completed, and the liquidation was finalized as of 11 December 2019.」
The liquidation proceedings for the Chinese subsidiary, conducted following the withdrawal from the Chinese retail business, were completed as of 11 December 2019. - FY2020-Q1RestatedAnnual report
「The liquidation proceedings in China are proceeding broadly as planned.」
The liquidation proceedings being conducted following the end of the Chinese retail business are proceeding broadly as planned, according to the company. - FY2019-Q3RestatedAnnual report
「Our Chinese subsidiary, 好麗姿（上海）服飾商貿有限公司, closed all stores by the end of September 2018 and began liquidation proceedings.」
We reconfirmed the closure of all stores in the Chinese retail business and the start of liquidation proceedings. The liquidation process for the legal entity is still ongoing. - FY2019-Q2AchievedAnnual report
「Our Chinese subsidiary, 好麗姿（上海）服飾商貿有限公司, closed all stores by the end of September this year and began liquidation proceedings.」
For the Chinese retail business, we completed the planned closure of all stores and began liquidation proceedings. The liquidation process for the legal entity itself is still ongoing. - FY2019-Q1AdvancedAnnual report
「In China, we closed 76 stores in preparation for the closure of all stores by the end of September. As a result, the number of stores stood at 144 as of the end of the first quarter of the current consolidated cumulative period. The withdrawal from the retail business in China is proceeding broadly as planned.」
We closed an additional 76 stores as part of the withdrawal from the Chinese retail business, reducing the number of remaining stores to 144. Progress toward closing all stores by the end of September was described as broadly in line with the plan. - FY2018AdvancedAnnual report
「As we see no prospect of an improvement in the outlook for the China business and have determined that returning it to profitability in the near future would be difficult, we plan to close all stores, while retaining some functions, by the end of September 2018.」
We decided to withdraw from the Chinese retail business and announced a plan to close all stores, while retaining some functions, by the end of September 2018. - FY2018-Q3AdvancedAnnual report
「At our Chinese subsidiary, 好麗姿（上海）服飾商貿有限公司 (Note), the number of directly operated stores stood at 255 as of the end of the third quarter of the current consolidated fiscal year, following the closure of unprofitable stores.」
We continued restructuring unprofitable stores, reducing the number of directly operated stores in China from 312 at the end of the previous quarter to 255. - FY2018-Q2AdvancedAnnual report
「At our Chinese subsidiary, 好麗姿（上海）服飾商貿有限公司 (Note), the number of directly operated stores stood at 312 as of the end of the second quarter of the current consolidated fiscal year, following the closure of unprofitable stores.」
We accelerated the restructuring of unprofitable stores in China, reducing the number of directly operated stores from 389 at the end of the previous quarter to 312. - FY2018-Q1AdvancedAnnual report
「At our Chinese subsidiary, 好麗姿（上海）服飾商貿有限公司 (Note), the number of directly operated stores stood at 389 as of the end of the first quarter of the current consolidated fiscal year, following the restructuring of unprofitable stores.」
We continued restructuring unprofitable stores in China, bringing the number of directly operated stores to 389. - FY2017AdvancedAnnual report
「At our Chinese subsidiary, 好麗姿（上海）服飾商貿有限公司, the number of directly operated stores stood at 422 as of the end of the consolidated fiscal year, following the closure of stores, mainly unprofitable ones.」
We continued closing stores, mainly unprofitable ones, bringing the number of directly operated stores in China to 422. Appropriate staffing, the reduction of various expenses, and the strengthening of store operations and store development capabilities have also been identified as priorities. - FY2017-Q3AdvancedAnnual report
「At our Chinese subsidiary, 好麗姿（上海）服飾商貿有限公司 (Note), the number of directly operated stores stood at 435 as of the end of the third quarter of the current consolidated fiscal year, following the closure of unprofitable stores.」
We continued closing unprofitable stores, reducing the number of directly operated stores in China from 461 at the end of the second quarter to 435. - FY2017-Q2AdvancedAnnual report
「At our Chinese subsidiary, 好麗姿（上海）服飾商貿有限公司 (Note), the number of directly operated stores stood at 461 as of the end of the second quarter of the current consolidated fiscal year, following the closure of unprofitable stores.」
We proceeded with the closure of unprofitable stores, bringing the number of directly operated stores to 461. - FY2017-Q1AdvancedAnnual report
「At our Chinese subsidiary, 好麗姿（上海）服飾商貿有限公司 (Note), the number of directly operated stores stood at 492 as of the end of the first quarter of the current consolidated fiscal year, following the closure of unprofitable stores.」
We proceeded with the closure of unprofitable stores in China, bringing the number of directly operated stores to 492. - FY2016First statedAnnual report
「In China, we will work to strengthen our merchandising and store operations systems, as well as our store development capabilities.」
The China business is focused on strengthening 3 areas: product planning, store operations and store development.