Dalian Onoda Cement: Consideration of Suspending Cement Manufacturing and Sales Operations and Dissolution
First written in FY2023-Q2. 1 of 3 entries say "Advanced", first in FY2023. Latest entry: FY2025.
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- FY2025AchievedAnnual report
「大連小野田水泥有限公司 was excluded from the scope of consolidation through a transfer of its equity interest.」
An equity interest in 大連小野田水泥 was transferred in connection with the planned suspension and withdrawal from its business, and the company was excluded from the scope of consolidation. - FY2023AdvancedAnnual report
「For assets planned for disposal in connection with the suspension of the businesses of 江南－小野田水泥有限公司 and 大連小野田水泥有限公司, the carrying amount of each asset was reduced to its recoverable amount, and the resulting reduction of ¥6,061 million was recognized as an impairment loss under extraordinary losses.」
The planned suspension of 大連小野田's business moved to the implementation stage, and impairment accounting was carried out, including an impairment loss of ¥5,450 million on assets planned for disposal at 江南－小野田水泥 and 大連小野田. Estimated losses related to dissolution and withdrawal were also recognized. - FY2023-Q2First statedAnnual report
「We announced on 25 October 2022 that we would suspend the cement manufacturing and sales business of our Chinese consolidated subsidiary, 大連小野田水泥有限公司 (hereinafter, 大連小野田), in Dalian, Liaoning Province. 大連小野田's business at this location is entering its 33rd year, and the land-use agreement signed when the company was established is reaching its final year. Accordingly, the business will be suspended in December this year, when the agreement expires. We will consider various matters relating to the dissolution of 大連小野田, but the details are currently under review.」
For China's 大連小野田水泥, a policy was disclosed for the first time to suspend its cement manufacturing and sales business in December 2022 due to the expiration of its land-use agreement and to proceed with consideration of its dissolution. 太平洋セメント's ownership ratio was 84.83%, while net sales were US$80,076 thousand and operating income was US$15,891 thousand for the fiscal year ended December 2021.