Offering of an equity interest and conversion to an equity-method affiliate through the listing of SRE Holdings
First written in FY2020-Q3. 1 of 2 entries say "Restated". Latest entry: FY2020.
0 other companies' latest entry also says "Restated".
- FY2020RestatedAnnual report
「In connection with the Offering and Related Transactions, SONY GROUP CORPORATION’s ownership ratio declined from 56.3% to 44.5%, and SRE became an equity-method investee of SONY GROUP CORPORATION.」
The change from a consolidated subsidiary to an equity-method investee and the decline in the ownership ratio following SRE’s listing were reconfirmed in the annual disclosure. - FY2020-Q3First statedAnnual report
「On 19 December 2019, SRE, formerly a consolidated subsidiary of the Company, listed its common shares on the Mothers market of the Tokyo Stock Exchange (the “Listing”). In connection with the Listing, the Company sold some of its SRE shares and SRE issued new shares (collectively, the “Offering and Related Transactions”). As a result, the Company’s ownership ratio declined from 56.3% to 44.5%, and SRE became an equity-method investee of the Company. In connection with the Offering and Related Transactions, SONY GROUP CORPORATION recorded total income of ¥17,266 million in other operating income (loss), net, in its consolidated statements of income for the cumulative third quarter and third quarter of fiscal 2019. This amount comprised a revaluation gain based on the fair value of the SRE shares that SONY GROUP CORPORATION continued to hold after the sale and a gain on the sale of shares.」
Following SRE’s listing, its ownership ratio declined from 56.3% to 44.5%, and SRE changed from a consolidated subsidiary to an equity-method investee. ¥17.266 billion was recorded as revaluation and disposal gains.