User and Revenue Growth in Western Markets through the PerBlue Acquisition
First written in FY2017-Q1. 1 of 4 entries say "Advanced", first in FY2017-Q2. Latest entry: FY2020-Q2.
2 other companies' latest entry also says "Dropped".
- FY2020-Q2DroppedAnnual report
「Fantasy Legend Studios, Inc. was excluded from the scope of consolidation from the current second-quarter consolidated accounting period because its liquidation had been completed.」
Fantasy Legend Studios was liquidated following the acquisition of PerBlue and removed from the scope of consolidation. No achievement was reported regarding initiatives to grow users and revenue in the European and North American markets through the acquisition. - FY2017WorsenedAnnual report
「The entire carrying amount of goodwill and other assets arising from the acquisition of consolidated subsidiary Fantasy Legend Studios, Inc. has been recognized as an impairment loss because the revenue anticipated at the time of the acquisition is no longer expected to be generated.」
For Fantasy Legend Studios following the acquisition of PerBlue, the revenue anticipated at the time of the acquisition was no longer expected to be generated, and an impairment loss was recognized, including ¥1,552 million of goodwill and ¥2,273 million of intangible fixed assets. - FY2017-Q2AdvancedAnnual report
「Fantasy Legend Studios, Inc. was included in the scope of consolidation because it acquired shares during the second quarter of the current consolidated fiscal year.」
The acquisition of PerBlue, decided on and completed in the previous quarter, was reflected in the scope of consolidation for the current quarter. The consideration for PerBlue was ¥3,024 million, the acquired voting interest was 100%, and goodwill of ¥1,817 million was recognized. Results from 6 October to 31 December 2016 were included in the consolidated income statement. - FY2017-Q1First statedAnnual report
「At its board meeting held on 6 October 2016, the Company resolved to make PerBlue, Inc. of the United States ("PerBlue") a wholly owned subsidiary of GREE International Entertainment, Inc. ("GIE") by merging PerBlue, as the surviving company, with Parrot Merger, Inc. ("PMI"), a new company to be established by GIE, the Company's consolidated subsidiary, for the merger. The transaction was expected to further expand the user base and drive revenue growth in the European and North American markets by leveraging GIE's expertise in operating products in the mid-core genre and its marketing capabilities.」
As a material subsequent event, a business combination was completed on 6 October 2016 to make PerBlue a wholly owned subsidiary of GIE. The acquired voting interest was 100%, and the consideration was approximately US$29.9 million in cash. The transaction was structured as a reverse triangular merger. The post-merger company was named Fantasy Legend Studios, Inc.; rights and employees related to businesses other than PerBlue's "DragonSoul" were excluded from the acquisition.