Changes to the distribution channel and receivables classification following the end of ゴールデンフーズ' commercial sales
First written in FY2018-Q2. 3 of 5 entries say "Advanced", first in FY2018. Latest entry: FY2019.
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- FY2019AdvancedAnnual report
「Following the decision approving the agreement for special liquidation of Golden Foods, the company waived part of the receivables it held.」
Golden Foods, following the end of sales to commercial customers, progressed to approval of the special liquidation agreement and the waiver of receivables. - FY2019-Q2AdvancedAnnual report
「At a meeting of the Board of Directors held on 31 October 2018, the company resolved to dissolve its subsidiary Golden Foods. Since its establishment, Golden Foods had sold the company's commercial products as its exclusive general distributor, but ended sales on 31 August 2017. The company decided to dissolve Golden Foods after procedures including the collection of its receivables had largely been completed.」
The company resolved to dissolve Golden Foods, which had already ended sales of commercial products, and commence special liquidation proceedings. The winding-up process following the end of sales has moved to the next stage. - FY2018AdvancedAnnual report
「In the previous consolidated fiscal year, Golden Foods, which had been an equity-method affiliate, additionally acquired shares on 26 March 2018. However, because it had ended product sales on 31 August 2017 and control was temporary, it was excluded from the scope of consolidation.」
Following the additional acquisition of shares in Golden Foods, its direct voting-rights ownership ratio became 89.9%, changing its status among the company's affiliates. Changes in the distribution channel and receivables classification following the end of sales to commercial customers have also continued. - FY2018-Q3RestatedAnnual report
「In connection with Golden Foods, an equity-method affiliate of the company, ending its sales operations for our commercial products on 31 August 2017, we revised the distribution channel and the current/non-current classification of receivables. As a result, notes and accounts receivable decreased by ¥3,837 million, while non-current operating receivables increased by ¥3,837 million. In addition, the allowance for doubtful accounts (current assets) decreased by ¥3,506 million, while the allowance for doubtful accounts (non-current assets) increased by ¥3,506 million.」
The company has reiterated the end of Golden Foods' sales to commercial customers and the resulting changes in the current/non-current classifications of distribution channels, receivables and allowances for doubtful accounts. - FY2018-Q2First statedAnnual report
「In connection with Golden Foods, an equity-method affiliate of the company, ending its sales operations for our commercial products on 31 August 2017, we revised the distribution channel and the current/non-current classification of receivables. As a result, notes and accounts receivable decreased by ¥3,837 million, while non-current operating receivables increased by ¥3,837 million. In addition, the allowance for doubtful accounts (current assets) decreased by ¥3,506 million, while the allowance for doubtful accounts (non-current assets) increased by ¥3,506 million.」
Golden Foods, an equity-method affiliate, ended its sales operations for commercial products on 31 August 2017, and the current/non-current classifications of receivables and allowances for doubtful accounts were changed in connection with the change in the distribution channel.