Expansion of the Malaysian foodservice business through the acquisition of TCRS Restaurants and other companies
First written in FY2020-Q1. 3 of 4 entries say "Restated". Latest entry: FY2023-Q3.
The whole theme swung hardest in 2018: 1 of 10 companies on the "Worse" side.
5 other companies' latest entry also says "Restated".
- FY2023-Q3RestatedAnnual report
「The category also includes Kyubeya, which serves Musashino udon and tempura, and The Chicken Rice Shop, a halal-certified chicken rice specialty restaurant chain operating primarily in Malaysia.」
The halal-certified chicken rice specialty restaurant business operated primarily in Malaysia by TCRS Restaurants and others continues to be listed as a component of the Fast Food category. - FY2023-Q2RestatedAnnual report
「The category also includes Kyubeya, which serves Musashino udon and tempura, and The Chicken Rice Shop, a halal-certified chicken rice specialty restaurant chain operating primarily in Malaysia.」
The halal-certified chicken rice specialty restaurant business operated primarily in Malaysia by TCRS Restaurants and others continues to be listed as part of the Fast Food category. - FY2022-Q3RestatedAnnual report
「The Chicken Rice Shop, a chicken rice specialty chain operated by TCRS Restaurants Sdn. Bhd., is halal-certified and has an extensive presence in Malaysia, where it is supported by families of all ages.」
Following the acquisition of TCRS, the chicken rice specialty restaurant business in Malaysia continues to be listed as part of the Fast Food category. - FY2020-Q1AchievedAnnual report
「Zensho Holdings Malaysia Sdn. Bhd., a wholly owned subsidiary of the Company, resolved at a meeting of its Board of Directors held on 19 March 2019 to acquire all shares of TCRS Restaurants Sdn. Bhd., which operates a chicken rice specialty chain in Malaysia, making it a subsidiary of the Company and a second-tier subsidiary of the Company, and entered into a share transfer agreement on the same day. It acquired the shares of the company on 31 May 2019. TCRS Restaurants Sdn. Bhd. operates approximately 100 stores in major shopping centers in Malaysia and is highly recognized as Malaysia's first and largest chicken rice specialty chain by market share. The Company determined that the acquisition would enable synergies with the Zensho Group in product development, store operations, and new store openings.」
The Company resolved to acquire all shares of TCRS Restaurants and make it a subsidiary on 19 March 2019, and completed the acquisition on 31 May. In addition to TCRS, the acquisition included DE CRS, Dubu Yo, and Sepiring Cafe, resulting in an ownership interest with voting rights of 100.0%. The businesses operate approximately 100 stores in major shopping centers in Malaysia, and synergies with the Group are expected in product development, store operations, and new store openings. The acquisition cost was provisionally stated as ¥5,713 million, and acquisition-related costs as ¥222 million.