Reallocation of management resources to growth regions through the sale of the South Korean business
First written in FY2016. 1 of 4 entries say "Advanced", first in FY2017-Q1. Latest entry: FY2017.
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- FY2017Cited as achievedAnnual report
「Nobeoka Onoda Remicon Co., Ltd. was excluded from the scope of equity-method accounting following completion of its liquidation, while 雙龍洋灰工業株式会社 was excluded following the sale of its shares.」
The completed sale of shares in Korea's 雙龍洋灰工業株式会社 and its exclusion from the scope of equity-method accounting were reconfirmed in the explanation of the scope of consolidation. - FY2017-Q2AchievedAnnual report
「From the second quarter of the current fiscal year, Nobeoka Onoda Remicon Co., Ltd. was excluded from the scope of equity-method accounting following completion of its liquidation, while 雙龍洋灰工業株式会社 was excluded following the sale of its shares.」
The sale of shares in 雙龍洋灰工業株式会社 was completed, and the company was excluded from the scope of equity-method accounting. This indicates that the implementation phase of reallocating management resources through the sale of the Korean business was completed. - FY2017-Q1AdvancedAnnual report
「At a meeting of the Board of Directors held on 29 June 2016, the company resolved to transfer all shares of the Korean equity-method affiliate 雙龍洋灰工業株式会社 held by the company and its consolidated subsidiary TCC Holdings Labuan to Han Enko No. 10 Yugen Kaisha of Korea, and signed a share transfer agreement on the same date.」
Regarding the Korean business, negotiations progressed from the prior stage of transfer discussions to a Board resolution approving the transfer of all shares and the execution of an agreement. The text does not state that the transfer was completed. - FY2016First statedAnnual report
「We concluded that recovering our investment in Korea as funds for investment in regions with greater growth prospects would be the most desirable means of enhancing the corporate value of the group, and accordingly continued negotiations concerning the transfer of shares in Han Enko and 雙龍社.」
With the recognition that management resources are limited, a policy was presented of selling the Korean interests and directing the proceeds toward investment in regions with growth prospects. The transfer price was KRW 454,807,675,000, with execution scheduled for the second quarter of the fiscal year ending March 2017.