Transfer of all interests in the China business and concentration of management resources on the domestic business
First written in FY2023-Q3. 2 of 3 entries say "Achieved", first in FY2023. Latest entry: FY2025.
No other company in this theme has enough history to compare yet.
- FY2025AchievedAnnual report
「The company carried out a share exchange with an effective date of 30 November 2024.」
Separately from the transfer of interests in the China business, the management integration through a share exchange with Inageya was completed on 30 November 2024. - FY2023AchievedAnnual report
「Maruetsu, a consolidated subsidiary of the company, resolved through its board of directors to transfer all interests in Maruetsu (Hong Kong) Limited, a sub-subsidiary of the company, to a third party. It entered into an interest transfer agreement dated 11 January 2023 and completed the transfer on 17 January 2023.」
The transfer of all interests in the China business was completed on 17 January 2023, implementing the policy of concentrating management resources on domestic operations. - FY2023-Q3First statedAnnual report
「At a meeting of its board of directors on 11 January 2023, the company resolved to transfer to a third party all interests in Maruetsu (Hong Kong) Limited, a sub-subsidiary of the company held by its consolidated subsidiary Maruetsu. Following negotiations, the parties agreed on the terms, and the company resolved to transfer the interests in Maruetsu (Hong Kong) Limited. Transferee: China Resources Vanguard (Holdings) Company Limited. Scheduled transfer date: 17 January 2023. Ownership interest before transfer: 70.0%. Interest transferred: 70.0%. Ownership interest after transfer: 0.0%.」
For the China business, which reached the end of its 10-year joint venture agreement, all of Maruetsu (Hong Kong) Limited’s 70.0% interest was transferred to China Resources Vanguard (Holdings) Company Limited, indicating a policy of concentrating management resources on domestic operations. The transfer was scheduled for 17 January 2023, after which the ownership interest would be 0.0%.