Exit from the China Business Through the Transfer of the Equity Interest in 英才網聯 and Focus on India and Vietnam
First written in FY2023. 1 of 3 entries say "Achieved", first in FY2024-Q2. Latest entry: FY2024-Q3.
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- FY2024-Q3Cited as achievedAnnual report
「During the consolidated accounting period for the second quarter, all shares of 英才網聯（北京）科技有限公司, a consolidated subsidiary held by our company, were transferred, and the company was excluded from the scope of consolidation.」
The transfer of all shares in 英才網聯 and its exclusion from the scope of consolidation were reconfirmed based on the business description and notes. The withdrawal from the China business and concentration on India and Vietnam had been completed by the previous quarter. - FY2024-Q2AchievedAnnual report
「As we transferred all of our interests in 英才網聯（北京）科技有限公司, a consolidated subsidiary held by our company, it has been excluded from the scope of consolidation.」
All of the company's interests in 英才網聯 were transferred on 24 July 2023, completing the withdrawal from the China business and its exclusion from the scope of consolidation. A gain on the sale of shares in an affiliated company of ¥111 million was recorded, while the divested business generated revenue of ¥376 million and operating profit of ¥59 million for the six months ended the second quarter. - FY2023First statedAnnual report
「We resolved to transfer all of our interests in the company to further promote the selective concentration of management resources within our group and stabilize business operations, with the aim of achieving the five-year medium-term management plan whose final year is the fiscal year ending March 2027.」
On 24 July 2023, the company resolved to transfer all of its 49% interest in 英才網聯（北京）科技有限公司 for ¥93 million, giving concrete form to the concentration and selective allocation of resources toward India and Vietnam.