Reallocation of Resources to Growth Investment Areas Through the Transfer of Equity Interests in Qinhuangdao Asano Cement
First written in FY2021-Q2. 1 of 2 entries say "Achieved", first in FY2021-Q2. Latest entry: FY2021-Q3.
25 other companies' latest entry also says "Cited as achieved".
- FY2021-Q3Cited as achievedAnnual report
「During the current third-quarter consolidated accounting period, Qinhuangdao Asano Cement Co., Ltd. was removed from the scope of consolidation following the transfer of its equity interest.」
Following the transfer of all of the equity interest in Qinhuangdao Asano Cement and completion of the registration of the change in investor, its removal from the scope of consolidation was reconfirmed in the quarterly disclosure. - FY2021-Q2AchievedAnnual report
「At a meeting of our board of directors held on 25 August 2020, we resolved to transfer all of our equity interest in Qinhuangdao Asano Cement Co., Ltd., a consolidated subsidiary, to Qinhuangdao Changyang Concrete Co., Ltd., and completed the registration of the change in investor on 26 October 2020. We determined that transferring all of our equity interest in Qinhuangdao Asano Cement to Changyang Concrete and recovering the funds for investment in projects and regions with greater expected growth would be desirable for enhancing the corporate value of our group, and proceeded with the transfer.」
We decided to transfer all of our equity interest in Qinhuangdao Asano Cement in Hebei Province, China, equivalent to 71.99% of voting rights held, and completed the registration of the change in investor on 26 October 2020. The gain on the transfer was approximately ¥3 billion, and a policy was disclosed of reallocating the recovered funds to investment projects and regions with expected growth.