M.T.Burn's capital alliance with LINE and its reclassification as an equity-method affiliate
First written in FY2016-Q3. 2 of 5 entries say "Restated". Latest entry: FY2020.
No other company in this theme has enough history to compare yet.
- FY2020AchievedAnnual report
「M.T.Burn Co., Ltd. was liquidated in November 2019.」
For M.T.Burn, which had been reported as being in liquidation proceedings, completion of the liquidation in November 2019 was disclosed. - FY2019RestatedAnnual report
「We discussed the dissolution of M.T.Burn Co., Ltd. with LINE Co., Ltd., a shareholder of M.T.Burn, and our company, and agreed to dissolve M.T.Burn. At a Board of Directors meeting held on 27 May 2019, our company resolved to dissolve M.T.Burn, an equity-method associate. M.T.Burn also resolved to dissolve at its shareholders' meeting held on 28 May 2019. The company is currently undergoing liquidation proceedings.」
M.T.Burn remained in liquidation proceedings following the resolution to dissolve it, including in the full-year disclosure. - FY2019-Q3ReframedAnnual report
「(Dissolution of an equity-method associate) We discussed the dissolution of M.T.Burn Co., Ltd., an equity-method associate, with LINE Co., Ltd., a shareholder of M.T.Burn, and our company, and agreed to dissolve M.T.Burn. At a Board of Directors meeting held on 27 May 2019, our company resolved to dissolve M.T.Burn, an equity-method associate. M.T.Burn also resolved to dissolve at its shareholders' meeting held on 28 May 2019. The company is currently undergoing liquidation proceedings.」
The dissolution of M.T.Burn, which had become an equity-method associate following the capital alliance with LINE, was agreed and approved, and the company entered liquidation proceedings. - FY2016RestatedAnnual report
「As substantive control over M.T.Burn Co., Ltd. was lost, it was excluded from the scope of consolidation from the current consolidated fiscal year and included within the scope of the equity method.」
Following a third-party allotment of shares underwritten by LINE, M.T.Burn changed from a consolidated subsidiary to an equity-method associate, a status that remained in place for the full fiscal year. - FY2016-Q3First statedAnnual report
「At the end of the second quarter of the current consolidated fiscal year, M.T.Burn Co., Ltd. was excluded from the scope of consolidation because the capital alliance with LINE Co., Ltd. resulted in the loss of substantive control, and it was classified as an equity-method associate.」
Following the capital alliance with LINE, substantive control over M.T.Burn was lost, and it changed from a consolidated subsidiary to an equity-method associate.