Integrated Operations through the Absorption-Type Company Split of FFBS's Group Finance and Other Businesses
First written in FY2020-Q3. 2 of 5 entries say "Restated". Latest entry: FY2023-Q3.
No other company in this theme has enough history to compare yet.
- FY2023-Q3RestatedAnnual report
「The year-on-year decrease in sales includes the impact of the Company having transferred part of its shareholding in its former subsidiary Furukawa Logistics Co., Ltd. to SBS Holdings Co., Ltd. in December of the previous fiscal year, changed the company's name to SBS Furukawa Logistics Co., Ltd. and made it an equity-method affiliate.」
The partial transfer of Furukawa Logistics and the conversion of SBS Furukawa Logistics into an equity-method affiliate continue to be reflected as factors behind the decline in sales of services, development and other businesses. - FY2022Logistics business converted into an equity-method affiliateAnnual report
「To strengthen the logistics functions of the Group, the Company transferred part of its shareholding in its former subsidiary Furukawa Logistics Co., Ltd. to SBS Holdings Co., Ltd. in December of the previous year, changed the company's name to SBS Furukawa Logistics Co., Ltd. and made it an equity-method affiliate.」
Following the partial transfer of shares in Furukawa Logistics, SBS Furukawa Logistics became an equity-method affiliate, shifting the Company toward strengthening its logistics functions through cooperation with an external partner. - FY2021-Q3Removal from consolidation following the merger of FFBSAnnual report
「Furukawa Finance and Business Support Co., Ltd. was removed from the scope of consolidation from the second quarter of the fiscal year because it ceased to exist following its merger with Furukawa Life Service Co., Ltd.」
In connection with the plan to integrate the group finance, accounting and procurement-related businesses, FFBS ceased to exist following its merger with Furukawa Life Service and was removed from the scope of consolidation. - FY2020RestatedAnnual report
「Accordingly, the Company decided to take over from FFBS its group finance, accounting and procurement-related businesses and other related operations, with the aim of establishing a more efficient and appropriate operating structure.」
The Company reconfirmed its plan to take over FFBS's group finance, accounting and procurement-related businesses through an absorption-type company split effective 1 April 2020. - FY2020-Q3First statedAnnual report
「The need has grown for the accounting and procurement divisions to provide more sophisticated services to the Company and to group companies in Japan and overseas. As a result, it has become necessary to integrate the operations of FFBS's accounting and procurement divisions with those of the Company. Accordingly, the Company decided to take over from FFBS its group finance, accounting and procurement-related businesses and other related operations, with the aim of establishing a more efficient and appropriate operating structure.」
The Board of Directors resolved on 19 December 2019 to carry out an absorption-type company split and announced plans for the Company to take over FFBS's group finance, accounting and procurement-related businesses effective 1 April 2020. The objective was to establish a more efficient and appropriate operating structure through integrated operations.