Transition of a Malaysian subsidiary to a precious metals recovery business
First written in FY2016-Q3. 4 of 8 entries say "Advanced", first in FY2016. Latest entry: FY2021-Q3.
No other company in this theme has enough history to compare yet.
- FY2021-Q3AdvancedAnnual report
「ASAKARIKEN(M)SDN.BHD., formerly a consolidated subsidiary of the company, is undergoing liquidation proceedings. Since an effective parent-subsidiary control relationship with the company no longer exists, it has been excluded from the scope of consolidation from the third-quarter consolidated accounting period.」
The Malaysian subsidiary was excluded from the scope of consolidation as liquidation proceedings progressed following the withdrawal from the business and the effective parent-subsidiary control relationship ceased to exist. - FY2021-Q2RestatedAnnual report
「Although net sales declined at the overseas subsidiary from which withdrawal had been decided as part of a review of the business strategy, sales increased because prices of major products exceeded the previous fiscal year and recovery from the flooding damage caused by Typhoon No. 19 in October 2019 was completed.」
The company states that the decline in sales at the overseas subsidiary from which withdrawal had been decided was reflected as a factor affecting performance. - FY2020AdvancedAnnual report
「ASAKARIKEN (M) SDN.BHD. decided to withdraw from the business on 16 January 2020. The company also decided to withdraw from the loss-making precious-metals business in Malaysia and began winding it down.」
For the Malaysian precious-metals business, the company began winding down operations after deciding to withdraw. It states that the overseas subsidiary is no longer conducting business activities on a consolidated basis. - FY2020-Q2AdvancedAnnual report
「The main factors behind the declines in net sales and profit were the decrease at the overseas subsidiary from which withdrawal had been decided, the impact of production cuts by a major customer in the aforementioned precious-metals business, and flooding caused by Typhoon No. 19.」
The decision to withdraw from the Malaysian subsidiary and other operations contributed to the decline in sales, and the company also recorded a ¥75,800 thousand loss on the liquidation of affiliates and withdrawal-related expenses. - FY2020-Q1ReframedAnnual report
「At a board meeting held on 16 January 2020, the company resolved to withdraw from the precious-metals business of its consolidated subsidiary in Malaysia.」
The company judged that it would be difficult to develop the precious-metals recovery business at the Malaysian subsidiary as planned due to the slowdown in the Chinese economy and other factors, and changed its policy to withdraw from the business. The timing of the withdrawal is to be determined upon completion of the necessary procedures. - FY2017RestatedAnnual report
「The volume of precious metals handled by overseas subsidiaries increased, and the selling price of gold, the main product, also exceeded the previous fiscal year, resulting in net sales of ¥7,527,133 thousand, up 6.9% year on year.」
The volume of precious metals handled overseas, including by the Malaysian subsidiary, continued to increase, and net sales from the precious-metals business also rose. - FY2016AdvancedAnnual report
「At the Malaysian subsidiary, the business is progressing from reselling scrap, as previously conducted, to recovering precious metals and other materials, and has returned to profitability.」
The company states that the shift from reselling scrap to recovering precious metals progressed from improving profitability to returning to profitability. - FY2016-Q3First statedAnnual report
「At the Malaysian subsidiary, the business is progressing from reselling scrap, as previously conducted, to recovering precious metals and other materials, and profitability is improving.」
The company states that it has shifted the business from reselling scrap to recovering precious metals and other materials, and that profitability is improving.