China Joint Venture with CITIC
First written in FY2016. 7 of 15 entries say "Advanced", first in FY2017-Q1. Latest entry: FY2022-Q1.
No other company in this theme has enough history to compare yet.
- FY2022-Q1AchievedAnnual report
「During the first quarter of the current consolidated fiscal year, Beijing XinBang Daikokuya Trading Corporation, Ltd. (Other business segment) was removed from the scope of equity-method application following completion of its liquidation.」
The liquidation of the CITIC China joint venture, for which a dissolution policy had been announced in the previous fiscal year, was completed, and its removal from the scope of equity-method application was finalized. - FY2021DroppedAnnual report
「We dissolved the equity-method joint venture that operated pawnshops and a buying and selling business in China, and established a new wholly owned subsidiary in Shanghai to further expand our business platform.」
The CITIC China joint venture's store expansion policy ended with the dissolution of the joint venture. The China business shifted to operations through the newly established wholly owned subsidiary in Shanghai. - FY2021-Q1ReframedAnnual report
「In the previous consolidated fiscal year, to expand the used branded-goods business in the Chinese market, we began listing and selling 大黒屋 products on the 魅力恵 app operated by Alibaba Group Holding Limited from the current consolidated fiscal year. Going forward, we plan to restructure the China business and further strengthen our buying and selling business in China.」
The shift was reconfirmed from the previous China business, centered on expanding the CITIC joint venture's store network, toward listing and selling products through Alibaba's e-commerce platform, restructuring the China business, and strengthening the buying and selling business. - FY2020-Q3ReframedAnnual report
「Outside Japan, to expand the used branded-goods business in the Chinese market, we entered into an agreement for a business alliance with Glamour Sales China Limited, a group company of Alibaba Group Holding Limited, from the current consolidated fiscal year. We began listing and selling our products on the 魅力恵 app operated by Glamour Sales. Going forward, we plan to restructure the China business and further strengthen our buying and selling business in China.」
The focus shifted from the China joint venture with CITIC, centered on a multi-store rollout, to restructuring the China business, collaborating on e-commerce with an Alibaba group company, and strengthening the buying and selling business. - FY2020-Q2SoftenedAnnual report
「In China, Beijing XinBang Daikokuya Trading Corporation Ltd., our equity-method joint venture with CITIC XINBANG ASSET MANAGEMENT CORPORATION LTD., a consolidated subsidiary of China's largest corporate group, the CITIC Group, and a leading company in China's pawn industry, buys and sells used branded goods at its Beijing store.」
The description of the China joint venture with CITIC changed from a multi-store expansion to buying and selling used branded goods at the Beijing store only. - FY2019SoftenedAnnual report
「In China, 信黒屋 buys and sells used goods at its Beijing and Shanghai stores.」
The description changed from the previously reported 4-store network to a 2-store network comprising the Beijing and Shanghai stores, indicating a narrower scope of the China store expansion. - FY2019-Q3AdvancedAnnual report
「The Beijing store, the first store, has already achieved profitability on a monthly basis. Going forward, we will open new stores primarily in major metropolitan areas and work to expand the business.」
The Beijing store of the China joint venture achieved monthly profitability, and the policy of expanding primarily through new stores in major metropolitan areas is continuing. The joint venture as a whole recorded an equity-method investment loss of ¥56 million and has not yet achieved overall profitability. - FY2019-Q2ReframedAnnual report
「信黒屋 had operated a 4-store network, but has closed its local stores in Shenyang and Qingdao after changing its policy to focus new openings on medium-sized and large stores in major metropolitan areas. Going forward, it will open new stores primarily in major metropolitan areas and work to improve its performance.」
The China CITIC joint venture closed its Shenyang and Qingdao stores, reducing its network from 4 stores, and shifted its policy to focus on medium-sized and large stores in major metropolitan areas. - FY2019-Q1AdvancedAnnual report
「信黒屋 Beijing, the equity-method joint venture with China's CITIC, has steadily increased sales since opening in December 2016 and has reached a sales scale comparable to that of a medium-sized 大黒屋 store in Japan.」
Sales at the Beijing store of the China joint venture increased, reaching a scale comparable to that of a medium-sized 大黒屋 store in Japan. - FY2018-Q3AdvancedAnnual report
「The first store of the Chinese joint venture, an equity-method affiliate, opened in Beijing in December 2016. The Shenyang store, its second location, opened during the second quarter, followed by the Shanghai store in the third quarter and the Qingdao store in the fourth quarter. The Chinese business is therefore progressing steadily.」
Following the first Beijing store, stores were opened in Shenyang, Shanghai and Qingdao, bringing the China joint venture's expansion to a 4-store network. - FY2017AdvancedAnnual report
「Although the capital of the China joint venture, an equity-method affiliate, was fully paid in May 2017, local purchasing at the Beijing No. 1 store has progressed smoothly. The business is scheduled to expand from the current 1 store to 4 stores by opening 3 new stores in the next fiscal year.」
The operating results of the Beijing No. 1 store, payment of the capital, and the plan to expand to 4 stores in the next fiscal year were reported. - FY2017-Q3AdvancedAnnual report
「Beijing XinBang Daikokuya Trading Corporation Ltd., a joint venture between the Company and CITIC XINBANG ASSET MANAGEMENT CORPORATION LTD., a major player in China's pawnshop industry and a consolidated subsidiary of China's largest business group, the CITIC Group, was established in August 2016. Its first store, focused primarily on purchasing and selling used branded goods based on the Daikokuya store model, opened in Beijing in December of the same year.」
The China joint venture with CITIC was established in August, and the first Beijing store opened in December. The store opening scheduled for the previous quarter became an actual result. - FY2017-Q2AdvancedAnnual report
「Beijing XinBang Daikokuya Trading Corporation Ltd., a joint venture with the CITIC Group in China, was established in August this year. Its first store is scheduled to open in Beijing in December this year. Purchases conducted at headquarters before the store opens are progressing smoothly, with transaction volumes exceeding those of a standard 大黒屋 store.」
The China joint venture with CITIC was established in August, with the first Beijing store scheduled to open in December. Progress in purchases before the store opening was also reported. - FY2017-Q1AdvancedAnnual report
「The first store of the China joint venture with CITIC was scheduled to open in Beijing in November this year, and the joint venture was expected to launch its e-commerce business in China by year-end.」
The timing of the first store in Beijing and the launch of e-commerce in China under the joint venture with CITIC has become more concrete. - FY2016First statedAnnual report
「In addition, from July 2016 onward, the company planned to establish a joint venture, accounted for under the equity method, with CITIC XINBANG ASSET MANAGEMENT CORPORATION LTD. to develop pawnshop and secondhand goods trading businesses in China.」
The company planned to establish a joint venture with CITIC to develop pawnshop and secondhand goods trading businesses in China. Under a separate agreement, the joint venture was to have registered capital of RMB 50 million, with the company holding a 50% equity interest.