Provisional Goodwill Recognition in Connection with the Acquisition of Advanced Fresh Concepts Corp.
First written in FY2019-Q3. 1 of 2 entries say "Reframed", first in FY2020-Q3. Latest entry: FY2020-Q3.
Zensho Holdings moved to the "Worse" side of this theme in 2020.
0 other companies' latest entry also says "Reframed".
- FY2020-Q3ReframedAnnual report
「Upon finalization of this provisional accounting treatment, a material revision to the initial purchase price allocation was reflected in the comparative information included in the quarterly consolidated financial statements for the cumulative third-quarter period. The provisionally calculated goodwill of ¥21,698 million decreased by ¥24,483 million upon finalization of the accounting treatment, resulting in a gain on bargain purchase of ¥2,785 million.」
The accounting treatment for the provisionally recognized goodwill of ¥21,698 million associated with the acquisition of Advanced Fresh Concepts Corp. was finalized. Goodwill was reduced by ¥24,483 million and revised to a gain on bargain purchase of ¥2,785 million. - FY2019-Q3First statedAnnual report
「The increase in goodwill resulting from this transaction was ¥21,698 million. Because only a short period had elapsed between the business combination date and the settlement date, the identification and fair value estimation of identifiable assets and liabilities as of the business combination date had not been completed. Accordingly, the purchase price allocation had not been completed, and the amount was calculated on a provisional basis.」
Goodwill of ¥21,698 million was provisionally recognized in connection with the acquisition of shares in Advanced Fresh Concepts Corp. The Company stated that the purchase price allocation was incomplete because the identifiable assets and liabilities had not been identified and their fair values had not yet been estimated.