Tokyu Fudosan Holdings (3289) · InitiativeAchieved
Review of the business portfolio through the transfer of the Hands business to Cainz
First written in FY2022-Q3. 1 of 2 entries say "Achieved", first in FY2022. Latest entry: FY2022.
2entries
1years
0from disclosures
How it moved
Same theme, other companies
Review of the business portfolio through the transfer of the Hands business to CainzA theme 1 companies write about · 0 as a headwind · 1 as a tailwind
No other company in this theme has enough history to compare yet.
Full recordFilings, disclosures and news, newest first
- FY2022AchievedAnnual report
「The transfer was completed on 31 March 2022.」
The transfer of all shares of Tokyu Hands and the loan receivables to Cainz was completed, and the company was excluded from the scope of consolidation. - FY2022-Q3First statedAnnual report
「Hands was founded in 1976 as a wholly owned subsidiary of Tokyu Land Corporation, a core company of our Group. It operated a retail business as a proposal-based lifestyle shop centered on DIY. Amid intensifying competition in the retail industry, we decided that Cainz would be the best owner to maximize the value we provide to Hands customers and the value of the business, and decided to transfer it.」
On 22 December 2021, an agreement was signed to transfer all issued shares of Hands and the loan receivables to Cainz. The business separation was scheduled for 31 March 2022. The objectives were to maximize the value provided by Hands and the value of the business amid intensifying competition in the retail industry, and to build the strong and distinctive business portfolio set out in GROUP VISION 2030.