Business portfolio optimization through the transfer of the Tone Mobile business via a company split and the sale of shares
First written in FY2020-Q2. 1 of 3 entries say "Advanced", first in FY2020-Q3. Latest entry: FY2020.
3 other companies' latest entry also says "Achieved".
- FY2020AchievedAnnual report
「The Company’s consolidated subsidiary Dream Train Internet Inc. acquired the entire business of Tone Mobile Co., Ltd., an equity-method affiliate, through an absorption-type company split on 1 December 2019. On the same date, the Company sold all of its shares in Tone Mobile Co., Ltd. to Culture Convenience Club Co., Ltd. for ¥1.」
The transfer of the entire Tone Mobile business to DTI and the sale of the Company’s shares to CCC were executed on 1 December 2019, completing the transaction to optimise the business portfolio. - FY2020-Q3AdvancedAnnual report
「The Company’s consolidated subsidiary Dream Train Internet Inc. acquired the entire business of Tone Mobile Co., Ltd., an equity-method affiliate, through an absorption-type company split on 1 December 2019. On the same date, the Company sold all of its shares in Tone Mobile Co., Ltd. to Culture Convenience Club Co., Ltd. for ¥1.」
The plan stated in the previous filing was executed on 1 December 2019: DTI acquired the entire Tone Mobile business for acquisition consideration of ¥880 million, and the Company sold all of its shares to CCC for ¥1. - FY2020-Q2First statedAnnual report
「Tone Mobile Co., Ltd. expanded its business as a joint venture between the Company and Culture Convenience Club Co., Ltd. to acquire users of MVNO services. In view of changes in the MVNE market and the need to develop the business with a focus on new growth in the mobile communications services market, including IoT (the Internet of Things), the Company decided to transfer all of its shares in Tone Mobile Co., Ltd. to Culture Convenience Club Co., Ltd. and have the entire business of Tone Mobile Co., Ltd. transferred to Dream Train Internet Inc., thereby optimising its business portfolio.」
The Company disclosed a plan under which, with 1 December 2019 as the business combination date, DTI would acquire the entire Tone Mobile business through an absorption-type company split, while the Company would sell all of its Tone Mobile shares to CCC for ¥1. The acquisition consideration was stated as ¥880 million in cash.