Impact on Business Development from the Termination of the Capital and Business Alliance with the Parent Company
First written in FY2016. 3 of 8 entries say "Restated". Latest entry: FY2021.
No other company in this theme has enough history to compare yet.
- FY2021RestatedAnnual report
「EVO FUND subsequently continued selling the company's shares and, as of 7 July 2020, ceased to qualify as the company's parent company. On the same day, Tiger Trust also ceased to qualify as the ultimate controlling party. From that date onward, the company has had no parent company.」
It was reconfirmed that, following the change in parent company, EVO FUND ceased to be the parent company and the company has had no parent company since that date. - FY2021-Q3RestatedAnnual report
「On 7 July 2020, Evo Fund, the company's parent company, sold 2,800,000 common shares of the company, representing an ownership interest of 9.68%. Because its ownership interest in the voting rights of all shareholders and other equity holders of the company fell to 50% or less, Evo Fund ceased to be the company's parent company.」
The change in the parent company relationship, whereby Evo Fund ceased to be the parent company following the tender offer and the transfer and sale of shares, was reconfirmed. - FY2021-Q1ReframedAnnual report
「On 25 June 2020, Global Acoustic Partners LLC acquired 15,744,700 common shares of the company, representing an ownership interest of 54.65%, through a tender offer for the company's common shares. As a result, the company's parent company changed from Gibson Holdings, Inc. to Global Acoustic Partners LLC. On the same day, Global Acoustic Partners LLC transferred all of its shares in the company to its parent company, Evo Fund, and the company's parent company therefore changed from Global Acoustic Partners LLC to Evo Fund. On 7 July 2020, Evo Fund, the company's parent company, sold 2,800,000 common shares of the company, representing an ownership interest of 9.68%. Because its ownership interest in the voting rights of all shareholders and other equity holders of the company fell to 50% or less, Evo Fund ceased to be the company's parent company.」
The parent company changed from Gibson Holdings to Global Acoustic Partners and then to Evo Fund, after which Evo Fund ceased to be the parent company. The parent company relationship was reorganised over a short period, ultimately leaving the company without a parent company. - FY2020ReframedAnnual report
「Following the tender offer for the company's common shares conducted by Global Acoustic Partners LLC from 25 May 2020 to 23 June 2020, the company's parent company changed from Gibson Holdings, Inc. to Global Acoustic Partners LLC on 25 June 2020.」
The parent company relationship changed from Gibson Holdings, Inc. to Global Acoustic Partners LLC. - FY2018WorsenedAnnual report
「Gibson Holdings, Inc. and Gibson Brands, Inc. filed for Chapter 11 bankruptcy protection under the US Bankruptcy Code on 1 May 2018, but the capital and business alliance with the company remains in place.」
The fact that the parent company filed for Chapter 11 bankruptcy protection under the US Bankruptcy Code was disclosed. Because the capital and business alliance was stated to remain in place at the time, this is recorded as a deterioration in the risk environment surrounding the parent company relationship, rather than as termination of the alliance itself. - FY2018-Q2Explicit Maintenance RequirementsAnnual report
「Other restrictions have been imposed, including maintaining the capital and business alliance with the parent company and maintaining the company's listing on the First Section of the Tokyo Stock Exchange.」
The new syndicated loan agreement explicitly specified, as financial covenants, the maintenance of the capital and business alliance with the parent company and the company's listing on the First Section of the Tokyo Stock Exchange. - FY2017RestatedAnnual report
「The Group entered into a capital and business alliance with the aim of generating synergies between the parent company's musical instrument manufacturing and sales business and the company's audio equipment business. If this or any similar alliance is terminated, the Group's business development and operating results may be affected.」
The capital and business alliance between the parent company's musical instrument business and the company's audio equipment business, as well as the risk of termination of the alliance, were reconfirmed. - FY2016First statedAnnual report
「The Group entered into a capital and business alliance with the aim of generating synergies between the parent company's musical instrument manufacturing and sales business and the company's audio equipment business. If this or any similar alliance is terminated, the Group's business development and operating results may be affected.」
The purpose of the alliance is to generate synergies between the parent company's musical instrument business and the company's audio equipment business.