Strengthening the Financial Base and Investing for Growth Through the Sale of 2C2P
First written in FY2022-Q2. 3 of 5 entries say "Achieved", first in FY2022-Q3. Latest entry: FY2024.
0 other companies' latest entry also says "Achieved".
- FY2024AchievedAnnual report
「During the fiscal year, the conditions were satisfied and receipt of the funds from the escrow account was confirmed. As a result, the Company recorded ¥1,629,664 thousand as a gain on the sale of an equity-method investment in the consolidated statement of income.」
The conditions relating to the amount held in escrow in connection with the sale of 2C2P were satisfied and receipt of the funds was confirmed, resulting in recognition of an additional gain on sale of ¥1,629,664 thousand. - FY2023-Q3Cited as achievedAnnual report
「During the nine-month period ended 31 December of the previous fiscal year, 2C2P Pte. Ltd., an equity-method affiliate held by the Company's consolidated subsidiary GMO-Z.COM PAYMENT GATEWAY PTE. LTD., was excluded from the scope of equity-method accounting following the transfer of all its shares. As a result, the Company recorded ¥16,419,272 thousand as a gain on the sale of an equity-method investment in the condensed quarterly consolidated statement of income. Part of the transfer consideration was held in an escrow account specified in the share transfer agreement, and gains on the sale and other items of approximately ¥1 billion were expected to be recorded by the fiscal year ending September 2024 if the conditions were satisfied.」
The completion of the transfer of all 2C2P shares and the gain on sale of ¥16,419,272 thousand were restated as the prior-year results, with the Company explaining that additional gains on the sale and other items of approximately ¥1 billion were expected by the fiscal year ending September 2024 if the conditions were satisfied. - FY2022AchievedAnnual report
「During the fiscal year, 2C2P Pte. Ltd., an equity-method affiliate held by the Company's consolidated subsidiary GMO-Z.COM PAYMENT GATEWAY PTE. LTD., was excluded from the scope of equity-method accounting following the transfer of all its shares. As a result, the Company recorded ¥16,932,140 thousand as a gain on the sale of an equity-method investment in the consolidated statement of income.」
The transfer of all 2C2P shares was completed, and a gain on the sale of ¥16,932,140 thousand was recorded. Part of the transfer consideration was held in escrow, and additional gains on the sale and other items of approximately ¥1 billion were expected by the fiscal year ending September 2024 if the conditions were satisfied. - FY2022-Q3AchievedAnnual report
「During the nine-month period ended 31 December of the current fiscal year, 2C2P Pte. Ltd., an equity-method affiliate held by the Company's consolidated subsidiary GMO-Z.COM PAYMENT GATEWAY PTE. LTD., was excluded from the scope of equity-method accounting following the transfer of all its shares. As a result, the Company recorded ¥16,419,272 thousand as a gain on the sale of an equity-method investment in the condensed quarterly consolidated statement of income.」
The transfer of all 2C2P shares was completed, and a gain on the sale of ¥16,419,272 thousand was recorded. The previously announced sale plan progressed to transaction completion and recognition of the actual gain. - FY2022-Q2First statedAnnual report
「At a meeting of the Board of Directors held on 18 April 2022, the Company resolved to transfer all shares of 2C2P Pte. Ltd. (hereinafter, “2C2P”), an equity-method affiliate held by the Company's consolidated subsidiary GMO-Z.COM PAYMENT GATEWAY PTE. LTD. (hereinafter, “GMO-Z PG SG”). The transaction was scheduled to be completed once the conditions precedent to the share transfer had been satisfied, targeted for June 2022. The Company intended to use the proceeds from the share transfer to strengthen its financial base and make growth investments, including overseas lending, thereby pursuing sustainable growth and further enhancement of corporate value. In the consolidated financial results for the fiscal year ending September 2022, the Company expected to record approximately ¥16 billion as gains on the sale of equity-method investments and other items.」
The Company resolved to transfer all shares of 2C2P around June 2022 and, for the first time, explicitly stated its policy of using the sale proceeds to strengthen its financial base and make growth investments, including overseas lending. It expected approximately ¥16 billion in gains on the sale and other items for the fiscal year ending September 2022, and also stated that additional gains on the sale and other items of approximately ¥1 billion could be expected by the fiscal year ending September 2024. However, the transfer had not been completed as of the filing date.