Business Reorganization Through the Transfer of XEBEC's Video Production Business
First written in FY2019-Q2. 1 of 4 entries say "Advanced", first in FY2019-Q3. Latest entry: FY2020-Q1.
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- FY2020-Q1AchievedAnnual report
「From the first quarter of the current consolidated accounting period, XEBEC Inc., formerly our consolidated subsidiary, was excluded from the scope of consolidation following its absorption by Production I.G Inc., our consolidated subsidiary, with Production I.G Inc. as the surviving company, effective 1 June 2019.」
Following the transfer of its business, XEBEC was absorbed by Production I.G, with Production I.G as the surviving company, effective 1 June 2019, and was excluded from the scope of consolidation. - FY2019RestatedAnnual report
「We resolved to transfer the video production business of our consolidated subsidiary XEBEC Inc. to Sunrise Inc., executed the definitive agreement for the business transfer on 11 March 2019, and completed the transfer on 1 April 2019.」
The full-year report also confirms that XEBEC's video production business was transferred to Sunrise on 1 April 2019 following execution of the definitive agreement. - FY2019-Q3AdvancedAnnual report
「At a meeting of the Board of Directors held on 20 November 2018, we resolved to transfer the video production business of our consolidated subsidiary XEBEC Inc. to Sunrise Inc. We executed the definitive agreement for the business transfer on 11 March 2019 and completed the transfer on 1 April 2019. Transfer price: ¥300 million At a meeting of the Board of Directors held on 5 April 2019, we resolved that our consolidated subsidiaries Production I.G Inc. and XEBEC Inc. would merge through an absorption-type merger, with Production I.G Inc. as the surviving company (the “Merger”).」
Following execution of the definitive agreement, XEBEC's video production business was transferred to Sunrise on 1 April 2019. The transfer price was ¥300 million. The Board of Directors also resolved that XEBEC would be absorbed by Production I.G, with Production I.G as the surviving company, and scheduled the effective date for 1 June 2019. - FY2019-Q2First statedAnnual report
「At a meeting of the Board of Directors held on 20 November 2018, we resolved to transfer the video production business of our consolidated subsidiary XEBEC Inc. to Sunrise Inc. The transfer was scheduled to take place on 1 April 2019.」
The Board of Directors resolved to transfer XEBEC's video production business to Sunrise Inc. against a backdrop of prolonged losses and stalled results within the group. The transfer was scheduled for 1 April 2019, with the transfer price to be determined when the definitive agreement was executed.