Termination of Joint Venture and Transfer of Equity Interest in 盤錦遼河綜研化学有限公司
First written in FY2020-Q3. 1 of 4 entries say "Achieved", first in FY2020. Latest entry: FY2021.
0 other companies' latest entry also says "Other".
- FY2021Allowance for doubtful accounts recognized for the full year while transfer proceeds remained uncollectedAnnual report
「In light of the fact that the proceeds from the sale of an equity-method affiliate in the previous fiscal year remained unpaid for more than 1 year, the Company recognized an allowance for doubtful accounts of ¥100 million.」
Although the termination of the joint venture and the transfer of the equity interests themselves were completed, the transfer proceeds remained uncollected for more than 1 year, and a full-year allowance for doubtful accounts of ¥100.740 million was recognized. - FY2021-Q3Transfer proceeds uncollected; allowance for doubtful accounts recognizedAnnual report
「In light of the fact that the proceeds from the transfer of the equity interest in Pankang Liaohe Zongyan Chemical Co., Ltd., formerly an equity-method affiliate, have remained uncollected for more than 1 year from the transfer date due to delays in remittance review procedures by the transferee and the Chinese authorities, the Company recognized an allowance for doubtful accounts covering the entire receivable.」
Although the termination of the joint venture and the transfer of the equity interests themselves were completed, collection of the transfer proceeds was delayed, and an allowance for doubtful accounts was recognized for the entire receivable. - FY2020AchievedAnnual report
「During the consolidated fiscal year, the Company transferred all of its equity interest in Pankang Liaohe Zongyan Chemical Co., Ltd., its equity-method affiliate, and therefore excluded the company from the scope of equity-method accounting.」
The termination of the joint venture agreement relating to Pankang Liaohe Zongyan Chemical Co., Ltd. and the transfer of both parties' equity interests to a third party were completed, and the company was removed from the scope of equity-method accounting. - FY2020-Q3First statedAnnual report
「During the 3rd quarter consolidated accounting period, the Company terminated its joint venture agreement with Liaohe Petroleum Exploration Bureau Co., Ltd. relating to Pankang Liaohe Zongyan Chemical Co., Ltd., an equity-method affiliate, and transferred both parties' equity interests to Pankang Jinma Environmental Protection Technology Co., Ltd.」
The joint venture agreement between Pankang Liaohe Zongyan Chemical Co., Ltd. and Liaohe Petroleum Exploration Bureau Co., Ltd. was terminated, and both parties' equity interests were transferred to a third party. As a result, the company was removed from the scope of equity-method accounting.