Making Daiichi Orimono a Consolidated Subsidiary through the Acquisition of Its Shares
First written in FY2020-Q2. 2 of 3 entries say "Restated". Latest entry: FY2021.
52 other companies' latest entry also says "Restated".
- FY2021RestatedAnnual report
「Domestic sales of materials for general apparel were weak because the deterioration in market conditions associated with the spread of COVID-19 continued for an extended period. Overseas sales were also sluggish because of the impact of the pandemic, although signs of a recovery in market conditions had begun to emerge.」
The company reconfirmed that sales in the materials for general apparel business, including the consolidation of 第一織物, remained sluggish as deteriorating market conditions in Japan and overseas continued for an extended period. - FY2020-Q3RestatedAnnual report
「Materials for general apparel were sluggish in both domestic and overseas sales, as the deterioration in market conditions associated with the spread of COVID-19 continued for an extended period and orders fell sharply year on year. However, sales were in line with the same period of the previous year because 第一織物株式会社, whose shares were acquired in March 2020, was included in the scope of consolidation.」
The company reconfirmed that including 第一織物株式会社 in the scope of consolidation helped maintain sales at the level of the same period of the previous year despite weak orders for materials for general apparel. - FY2020-Q2First statedAnnual report
「Materials for general apparel were sluggish in both domestic and overseas sales, as orders fell sharply year on year due to deteriorating market conditions associated with the spread of COVID-19. However, sales were in line with the same period of the previous year because the company acquired shares in 第一織物株式会社 in March 2020 and included it in the scope of consolidation. As it became a subsidiary through the share acquisition, 第一織物㈱ has been included in the scope of consolidation from the second quarter of the current consolidated fiscal period.」
The company included 第一織物株式会社 in the scope of consolidation from the second quarter following its share acquisition in March 2020, and described this as a factor that kept sales of materials for general apparel at the level of the same period of the previous year.