Discontinuation of Unprofitable Steel Rim Production at Indonesian Subsidiary
First written in FY2016. 3 of 7 entries say "Restated". Latest entry: FY2023-Q3.
3 other companies' latest entry also says "Achieved".
- FY2023-Q3AchievedAnnual report
「This represents the release of the foreign currency translation adjustment account recognized in connection with the liquidation of overseas subsidiary P.T. Public Araya Indonesia in Indonesia.」
For the Indonesian subsidiary previously described as undergoing liquidation procedures, the Company recognized the release of ¥259 million from the foreign currency translation adjustment account in connection with the liquidation, indicating that the liquidation had progressed to the implementation stage. - FY2022RestatedAnnual report
「P.T. Public Araya Indonesia is currently undergoing liquidation procedures.」
The liquidation procedures for the Indonesian subsidiary are ongoing; the Company does not state that they have been completed. - FY2021-Q3RestatedAnnual report
「The gain on the sale of fixed assets mainly comprised a gain on the sale of the plant land of consolidated subsidiary P.T. Public Araya Indonesia.」
The Company reconfirms that it recognized a gain on the sale of the plant land of the Indonesian subsidiary for which dissolution and liquidation had been resolved. - FY2021-Q2RestatedAnnual report
「The gain on the sale of fixed assets mainly comprised a gain on the sale of the plant land of consolidated subsidiary P.T. Public Araya Indonesia.」
Regarding the Indonesian subsidiary for which dissolution and liquidation had been resolved, the Company reconfirms that it recognized a gain on the sale of the plant land. - FY2021-Q1AdvancedAnnual report
「Our consolidated subsidiary, P.T. Public Araya Indonesia, transferred ownership of the land and buildings at its plant.」
Regarding the Indonesian subsidiary for which dissolution and liquidation had been resolved, the plant land and buildings were transferred on 12 May 2020 for ¥742 million, indicating tangible progress toward the liquidation procedures. - FY2020AdvancedAnnual report
「Our group had continued producing rims in Indonesia since 1976 at a rim production plant, but as market and business conditions changed, we determined that the plant had fulfilled its role as a production base for our rim business and resolved to dissolve and liquidate the company.」
Following the suspension of product production at an existing overseas subsidiary, the Company resolved to dissolve and liquidate P.T. Public Araya Indonesia, determining that it had fulfilled its role as a rim production base. The liquidation is scheduled after the necessary procedures are completed, and has not yet been completed. - FY2016AchievedAnnual report
「Business structure improvement costs arose in connection with the discontinuation of unprofitable steel rim production at an overseas consolidated subsidiary.」
The Company discontinued unprofitable steel rim production and recognized ¥106 million in losses on disposal of fixed assets, ¥74 million in retirement allowances and ¥8 million in losses on disposal of inventories, for a total of ¥188 million.