Company split of the Korean TV business and capital participation by local management
First written in FY2017-Q3. 8 of 13 entries say "Restated". Latest entry: FY2023-Q3.
No other company in this theme has enough history to compare yet.
- FY2023-Q3RestatedAnnual report
「In addition to its record of placing many video professionals in Korea's TV industry, the company is strengthening cooperation with us in publishing and other fields, expanding into areas outside the video field, strengthening its rights management business, and diversifying revenue sources.」
Building on the Korean TV business, the company continues to expand into fields outside video, such as publishing, and strengthen its rights management business. - FY2022RestatedAnnual report
「In addition to its record of placing many video professionals in Korea's TV industry, the company is strengthening cooperation with us in publishing and other fields, expanding into areas outside the video field, strengthening its rights management business, and diversifying revenue sources.」
The company continues to maintain a division of roles combining the Korean TV business with publishing, rights management, and other fields outside video. - FY2021-Q3RestatedAnnual report
「CREEK & RIVER ENTERTAINMENT Co.,Ltd., which operates an agency business in the TV and video fields, changed its status to a consolidated subsidiary following a review of its capital structure.」
The company continues to describe a capital structure under which CREEK & RIVER ENTERTAINMENT is a consolidated subsidiary for the Korean TV and video business. - FY2021-Q1AdvancedAnnual report
「In Korea, we reviewed the capital structure of CREEK & RIVER ENTERTAINMENT Co.,Ltd., which operates an agency business for TV stations, and changed its status to a consolidated subsidiary.」
We reviewed the capital structure of CREEK & RIVER ENTERTAINMENT, which had been an equity-method affiliate following the demerger, and changed its status to a consolidated subsidiary. - FY2020-Q3AdvancedAnnual report
「On 9 January 2020, our consolidated subsidiary CREEK & RIVER KOREA Co.,Ltd. acquired additional shares in equity-method affiliate CREEK & RIVER ENTERTAINMENT Co.,Ltd., making it a consolidated subsidiary. In addition to the 35% voting rights ratio held immediately before the acquisition, it acquired an additional 40%, bringing the voting rights ratio after the acquisition to 75%.」
CREEK & RIVER ENTERTAINMENT, which had been an equity-method affiliate following the demerger, changed back to a consolidated subsidiary with a 75% voting rights ratio through the additional acquisition on 9 January 2020. - FY2019-Q3RestatedAnnual report
「In the creative field (Korea), consolidated subsidiary CREEK & RIVER KOREA Co.,Ltd. operates primarily in the rights management business.」
Following the demerger, CREEK & RIVER KOREA continues to focus on rights management rather than the TV business. - FY2019-Q2RestatedAnnual report
「In the creative field (Korea), consolidated subsidiary CREEK & RIVER KOREA Co.,Ltd. operates primarily in the rights management business.」
Following the demerger, CREEK & RIVER KOREA continues to focus on rights management. - FY2019-Q1RestatedAnnual report
「In the creative field (Korea), consolidated subsidiary CREEK & RIVER KOREA Co.,Ltd. operates primarily in the rights management business.」
Following the demerger, CREEK & RIVER KOREA continues to focus on rights management rather than the TV business. - FY2018RestatedAnnual report
「On 1 December 2016, the relevant business of CREEK & RIVER KOREA Co.,Ltd. was demerged and transferred to the newly established company CREEK & RIVER ENTERTAINMENT Co.,Ltd. Going forward, CREEK & RIVER ENTERTAINMENT Co.,Ltd. will specialize in the TV market, while CREEK & RIVER KOREA Co.,Ltd. will focus on rights management, including licensing Korean game content for Japan.」
The company reconfirmed the division of roles following the demerger of the Korean TV business, with responsibility for the TV business and for rights management of game content. - FY2018-Q3RestatedAnnual report
「On 1 December 2016, the relevant business of CREEK & RIVER KOREA Co.,Ltd. was demerged and transferred to the newly established company CREEK & RIVER ENTERTAINMENT Co.,Ltd. Going forward, CREEK & RIVER ENTERTAINMENT Co.,Ltd. will specialize in the TV market, while CREEK & RIVER KOREA Co.,Ltd. will focus on rights management, including licensing Korean game content for Japan.」
The company reconfirmed the division of roles following the demerger of the Korean TV business, with responsibility for the TV business and for rights management of game content. - FY2018-Q1AdvancedAnnual report
「From the second quarter, CREEK & RIVER ENTERTAINMENT Co.,Ltd. changed from a consolidated subsidiary of the company to an equity-method affiliate.」
Following the demerger of the Korean TV business, the newly established company progressed, effective 29 June 2017, from a consolidated subsidiary to an equity-method affiliate. - FY2017AdvancedAnnual report
「On 1 December 2016, the business of consolidated subsidiary CREEK & RIVER KOREA Co.,Ltd. was demerged and transferred to the newly established company CREEK & RIVER ENTERTAINMENT Co.,Ltd.」
The plan progressed to the transfer, on 1 December 2016, of the Korean subsidiary's business, centered on the TV and video fields, to the newly established company. - FY2017-Q3First statedAnnual report
「In light of these circumstances, we will establish a new company specializing in the TV market by demerging CRK's current business, and aim to strengthen our presence in that market by increasing the percentage of shares held by local capital, including the current CRK management. CRK, meanwhile, will pursue expansion into specialist fields outside the TV market, in addition to rights transactions and other activities in cooperation with our company.」
In light of intensifying competition and declining profitability, the company resolved to demerge the Korean subsidiary's TV business into a new company and, after changing the capital structure, transfer shares equivalent to 65% of the new company to the management and others. The demerger was scheduled for 1 December 2016, and the change in capital structure for 31 December of the same year.