Strengthening the Domestic Sales Structure by Making the Sales Finance Subsidiary Wholly Owned
First written in FY2018. 1 of 2 entries say "Advanced", first in FY2019-Q2. Latest entry: FY2019-Q2.
3 other companies' latest entry also says "Advanced".
- FY2019-Q2AdvancedAnnual report
「As a result of making MMC Diamond Finance Co., Ltd., a financial services company, a consolidated subsidiary during the first-quarter consolidated accounting period, we reviewed the method of classifying segments and changed the reported segments from the previous single segment, Automotive, to two segments, Automotive and Financial Services.」
Following the full ownership of the sales finance subsidiary, the Financial Services segment began reporting results as a consolidated segment, with cumulative second-quarter revenue of ¥11.625 billion and operating profit of ¥1.758 billion. - FY2018First statedAnnual report
「We made MMC Diamond Finance Co., Ltd., an equity-method affiliate engaged in sales finance, a subsidiary by acquiring additional shares on 2 April 2018. The shares were acquired to strengthen the value chain by offering attractive financial products alongside new-vehicle sales, enhancing after-sales services following purchase, and promoting vehicle replacement, thereby strengthening the domestic sales structure through sales initiatives integrated with financing. Following the acquisition, the voting rights ratio was 100%.」
On 2 April 2018, the voting rights ratio in the sales finance company was increased from 47% to 100%, implementing a measure to strengthen the domestic sales structure by integrating financial products, after-sales services and vehicle replacement promotion.