Corporate split of the Watami Handmade Kitchen Shiraoka Center and collaboration with the STI Group
First written in FY2019-Q2. 1 of 2 entries say "Advanced", first in FY2019-Q3. Latest entry: FY2019-Q3.
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- FY2019-Q3AdvancedAnnual report
「Based on a resolution of the Board of Directors meeting held on 15 August 2018, the Company transferred, through an absorption-type company split effective 1 October 2018, its food manufacturing and sales business at the Watami Handmade Kitchen Shiraoka Center, referred to below as the “Business,” to 株式会社新東京デリカ, referred to below as “新東京デリカ.”」
The Company disclosed that the corporate split of the Shiraoka Center’s food manufacturing and sales business was completed on 1 October 2018, recording a gain on the transfer of ¥495 million and proceeds from the transfer of ¥884 million. The separated business recorded revenue of ¥482 million and an operating loss of ¥385 million in the cumulative third quarter. - FY2019-Q2First statedAnnual report
「In connection with the corporate split of this business to the STI Group, the Company resolved to enter into an absorption-type company split agreement, judging that collaboration aimed at realising strategic initiatives to combine the strengths of both groups would contribute to their further development. These strengths include the Group’s expertise in food production and processing developed through its food-service and home-delivery meal businesses, and the robust supply-chain systems of its other centres, together with the STI Group’s proprietary manufacturing expertise using seafood raw materials and its capabilities in three-temperature-zone manufacturing.」
The food manufacturing and sales business at the Watami Handmade Kitchen Shiraoka Center was transferred to 新東京デリカ through an absorption-type company split, and the business separation was completed on 1 October 2018. The transaction was intended to combine the strengths of both groups in food production and processing expertise, supply chains, seafood raw materials and three-temperature-zone manufacturing through collaboration with the STI Group. A gain on the transfer of approximately ¥500 million was expected, while the separated business recorded revenue of ¥482 million and an operating loss of ¥385 million during the cumulative second quarter of the current fiscal year.