Dissolution and liquidation of two water-related subsidiaries in Shenyang
First written in FY2016. 4 of 5 entries say "Advanced", first in FY2018. Latest entry: FY2019-Q3.
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- FY2019-Q3AdvancedAnnual report
「In addition, Naga (Shenyang) Waterworks Equipment Manufacturing Co., Ltd. completed its liquidation in October 2018, Naga Water Treatment Technology (Shenyang) Co., Ltd. in November 2018, and Naga Ouke (Beijing) Trading Co., Ltd. in March 2019.」
Following the 2 Shenyang subsidiaries, the Beijing subsidiary also completed its liquidation in March 2019, completing the liquidation of all 3 companies. - FY2019-Q2AdvancedAnnual report
「Naga (Shenyang) Waterworks Equipment Manufacturing Co., Ltd. completed its liquidation in October 2018, and Naga Water Treatment Technology (Shenyang) Co., Ltd. completed its liquidation in November 2018.」
The 2 Shenyang water-related subsidiaries that had been undergoing liquidation completed liquidation in October and November 2018. Although the Beijing subsidiary was excluded from the scope of consolidation, this filing does not state that its liquidation had been completed. - FY2019-Q1AdvancedAnnual report
「Naga Water Treatment Technology (Shenyang) Co., Ltd., Naga (Shenyang) Waterworks Equipment Manufacturing Co., Ltd. and Naga Ouke (Beijing) Trading Co., Ltd., all subsidiaries of the Company, were excluded from the scope of consolidation during the first quarter of the current fiscal year because their materiality had declined.」
The 2 Shenyang subsidiaries and 1 Beijing subsidiary that had been described as undergoing liquidation were excluded from the scope of consolidation from the first quarter because their materiality had declined. - FY2018AdvancedAnnual report
「Of the 4 subsidiaries, 3 companies, namely Naga Water Treatment Technology (Shenyang) Co., Ltd., Naga (Shenyang) Waterworks Equipment Manufacturing Co., Ltd. and Naga Ouke (Beijing) Trading Co., Ltd., are undergoing liquidation procedures.」
In addition to the 2 Shenyang subsidiaries, the Beijing subsidiary was also subject to liquidation, and the Company disclosed that 3 companies were undergoing liquidation procedures. - FY2016First statedAnnual report
「With respect to Naga Water Treatment Technology (Shenyang) Co., Ltd. and Naga (Shenyang) Waterworks Equipment Manufacturing Co., Ltd., the Company's Board of Directors resolved to dissolve the companies at a meeting held on 17 May 2016.」
Following the resolution to dissolve the subsidiaries, the Company recognized a loss on business reorganization of ¥20.680 million and an impairment loss of ¥11.887 million.