Business Withdrawal from and Sale of Equity Interest in 烟台市長野建材有限公司
First written in FY2019-Q1. 2 of 4 entries say "Restated". Latest entry: FY2019.
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- FY2019RestatedAnnual report
「烟台市長野建材有限公司, which was a consolidated subsidiary in the previous consolidated fiscal year, was excluded from the scope of consolidation because it withdrew from the business and entered into an agreement to transfer all of its equity interest.」
The notes on the scope of consolidation continue to confirm that 烟台市長野建材有限公司's withdrawal from the business and transfer of all its equity interest have been completed. - FY2019-Q3RestatedAnnual report
「Loss on business restructuring - 53」
In connection with the withdrawal from the business of and transfer of the equity interest in 烟台市長野建材有限公司, a ¥53 million loss on business restructuring was recorded for the cumulative third quarter under review. - FY2019-Q2AchievedAnnual report
「During the second quarter of the consolidated accounting period under review, 烟台市長野建材有限公司 was excluded from the scope of consolidation because it entered into an agreement to transfer all of its equity interest. Business separation date: 1 October 2018 (deemed transfer date); loss on business restructuring: ¥51 million」
The transfer of all of 烟台市長野建材有限公司's equity interest was completed as a business separation, and the company was excluded from the scope of consolidation with 1 October 2018 as the deemed transfer date. A ¥51 million loss on business restructuring was recorded. - FY2019-Q1First statedAnnual report
「The company decided to transfer all of its equity interest in its consolidated subsidiary 烟台市長野建材有限公司 to 天津協群裕泰商貿有限公司 and entered into an equity interest transfer agreement with the company. Because performance has since remained sluggish and no future prospects are expected, the company decided to withdraw from the business and transfer all of its equity interest in it to 天津協群裕泰商貿有限公司.」
The company decided to withdraw from its Chinese ready-mixed concrete manufacturing and sales subsidiary because of sluggish performance and a lack of future prospects. The agreement was signed on 10 October 2018, the sale price was ¥73 million, the loss on sale was ¥97 million, and the equity interest after the sale was 0%.