Concentrating Resources in Japan Through the Transfer of the Chinese Subsidiary
First written in FY2023-Q1. 2 of 3 entries say "Restated". Latest entry: FY2023.
- FY2023RestatedAnnual report
「While bringing the company's long-standing China business to a close and concentrating management resources on its domestic business was an achievement, the company is facing an unexpectedly sharp decline in orders in the domestic business and recognizes that developing new fields is an urgent priority in addition to strengthening existing businesses.」
While the transfer of the Chinese subsidiary and concentration of management resources in Japan were evaluated as completed achievements, the company identified strengthening existing businesses and developing new fields as its next challenges in response to declining orders in the domestic business. - FY2023-Q2RestatedAnnual report
「On 8 August 2022, the company transferred all equity interests in its consolidated subsidiary 吉奥馬科技（無錫）有限公司.」
The transfer of all equity interests in the Chinese subsidiary has been completed, and the company changed from consolidated to non-consolidated accounting from the six-month period ended in the second quarter. - FY2023-Q1AchievedAnnual report
「At a meeting of the Board of Directors held on 4 August 2022, the company resolved to transfer all equity interests in its consolidated subsidiary 吉奥馬科技（無錫）有限公司 to 厦門鏵龍投資管理有限公司, entered into an equity transfer agreement on the same date, and completed the transfer on 8 August 2022.」
Amid sluggish demand and poor prospects for recovery for liquid-crystal-panel-related products for Chinese smartphones, the company transferred all equity interests in 吉奥馬科技（無錫）有限公司, reducing its ownership interest from 100% to 0%. The company considers concentrating management resources in Japan to be its top priority. The impact of the transfer on FY2023 results is under review and has not been determined at this time.