Balancing the Autonomy of the Listed Subsidiary with Group Coordination
First written in FY2016. 3 of 5 entries say "Reframed", first in FY2022. Latest entry: FY2025.
Alps Alpine moved to the "Worse" side of this theme in 2024.
The whole theme swung hardest in 2020: 2 of 18 companies on the "Worse" side.
2 other companies' latest entry also says "Reframed".
- FY2025ReframedAnnual report
「As a result, Alps Logistics and 26 other companies continue to be included within the scope of the equity method through the tender offeror.」
The relationship with Alps Logistics changed from a consolidated subsidiary, to an equity-method affiliate, and then, after the share sale, to a framework maintaining equity-method accounting through LDEC. - FY2025-H1ReframedAnnual report
「We concluded that, to enhance the corporate value of both our company and Alps Logistics, it would be desirable to transfer the Alps Logistics shares we hold to a third party, take Alps Logistics private, and pursue growth together with a new partner capable of achieving further growth and development through the creation of synergies as Alps Logistics.」
The description of the relationship with Alps Logistics developed from a framework that respected the autonomy of the listed subsidiary to one focused on selling the shares, taking the company private and pursuing growth with a new partner. - FY2023-Q1AchievedAnnual report
「During the first quarter of the current consolidated fiscal year, the scope of consolidation was changed because we were no longer deemed to control Alps Logistics, previously a consolidated subsidiary, and its 25 subsidiaries under the effective control standard (*).」
During the first quarter of the current consolidated fiscal year, Alps Logistics and its 25 subsidiaries changed from consolidated subsidiaries to equity-method investees. - FY2022ReframedAnnual report
「As a result, upon the conclusion of the general meeting of shareholders of the company concerned, Alps Logistics ceased to qualify as our subsidiary under the effective control standard and accordingly changed to an equity-method affiliate.」
The framework governing the relationship between the autonomy of the listed subsidiary and group coordination changed from a consolidated subsidiary to an equity-method affiliate, on the premise that independent outside directors would constitute a majority of the Board of Directors of Alps Logistics. - FY2016First statedAnnual report
「With respect to listed subsidiaries, we respect their autonomy. Each company conducts its business activities based on independent management decisions, including by formulating its own management plan and managing its performance.」
Policy of strengthening group coordination with Alpine and Alps Logistics while respecting their autonomy.