Dissolution and Liquidation of 共和機械（山東）有限公司 and Termination of Manufacturing Activities in China
First written in FY2023-Q1. 2 of 6 entries say "Restated". Latest entry: FY2024.
2 other companies' latest entry also says "Restated".
- FY2024RestatedAnnual report
「During the first quarter of the current consolidated fiscal year, 共和機械（山東）有限公司, formerly a consolidated subsidiary of the Company, completed its liquidation and was excluded from the scope of consolidation. Only its income statement for the period during which it was a consolidated subsidiary has been consolidated.」
Following completion of the liquidation of 共和機械（山東）有限公司, the company remains excluded from the scope of consolidation. - FY2024-Q1RestatedAnnual report
「During the first quarter of the current consolidated fiscal year, 共和機械（山東）有限公司, formerly a consolidated subsidiary of the Company, completed its liquidation and was excluded from the scope of consolidation. Only its income statement for the period during which it was a consolidated subsidiary has been consolidated.」
Following the completion of the liquidation of 共和機械（山東）有限公司, the company was excluded from the scope of consolidation from the first quarter of the current consolidated fiscal year. - FY2023AchievedAnnual report
「The liquidation of the Company's consolidated subsidiary 共和機械（山東）有限公司 was completed on 12 May 2023.」
The dissolution and liquidation of 共和機械（山東）有限公司, previously described as planned and in progress, was completed on 12 May 2023. The end of manufacturing activities by the local entity in China has reached completion. - FY2023-Q3AdvancedAnnual report
「At a meeting of the Company's Board of Directors held on 23 August 2022, the Company resolved to dissolve and liquidate its consolidated subsidiary 共和機械（山東）有限公司. The dissolution and liquidation are expected to be completed once the necessary procedures under local laws and regulations have been completed.」「In terms of earnings, a gain on sales of equipment arose from the foreign consolidated subsidiary scheduled for dissolution. However, operating profit, ordinary profit, and profit attributable to owners of the parent for the quarter decreased from the same quarter of the previous year because raw material and energy prices continued to rise in Japan, among other factors.」「Gain on sale of property, plant and equipment 107,227」
Although the dissolution and liquidation procedures had not yet been completed, a gain on sales of equipment was recorded for the foreign consolidated subsidiary scheduled for dissolution, including a ¥107.227 million gain on sale of property, plant and equipment. The disclosure indicates progress in the specific disposal of assets ahead of liquidation. - FY2023-Q2The planned liquidation procedures and related costs were disclosedAnnual report
「At a meeting of the Company's Board of Directors held on 23 August 2022, the Company resolved to dissolve and liquidate its consolidated subsidiary 共和機械（山東）有限公司. The dissolution and liquidation are expected to be completed once the necessary procedures under local laws and regulations have been completed.」「In terms of earnings, operating profit, ordinary profit, and profit attributable to owners of the parent for the quarter decreased from the same quarter of the previous year because raw material and energy prices continued to rise and costs associated with the liquidation of the consolidated subsidiary were incurred.」
The dissolution and liquidation of 共和機械（山東）有限公司 had not yet been completed and was expected to conclude once the necessary procedures under local laws and regulations had been completed. Costs associated with the liquidation were also identified as a factor contributing to the decline in quarterly profit. - FY2023-Q1First statedAnnual report
「At a meeting of the Board of Directors held on 23 August 2022, the Company resolved to dissolve and liquidate its consolidated subsidiary 共和機械（山東）有限公司.」「The consolidated subsidiary sold construction-equipment bolts and other products in China. After considering the rationality of the business as a whole, including the concentration of management resources and greater management efficiency, the Group decided to dissolve and liquidate the local entity.」「The dissolution and liquidation of the subsidiary will end manufacturing activities in China. However, supply of products to the Chinese market through sales by the Company will continue, and the impact on sales activities and other operations is expected to be limited.」
At a meeting of the Board of Directors held on 23 August 2022, the Company resolved to dissolve and liquidate its Chinese subsidiary. The decision was made to concentrate management resources and improve management efficiency. Although manufacturing activities in China will end, supply to the Chinese market through sales by the parent company is expected to continue. The subsidiary's capital was US$16.500 million, and its total assets at the end of June 2022 were disclosed as ¥1,380.071 million.