Dissolution and liquidation of KUBOTEK KOREA CORPORATION and transfer to the Korean sales office
First written in FY2023-Q1. 1 of 4 entries say "Advanced", first in FY2023-Q2. Latest entry: FY2025.
The whole theme swung hardest in 2024: 2 of 11 companies on the "Worse" side.
12 other companies' latest entry also says "Restated".
- FY2025RestatedAnnual report
「November 2022 KUBOTEK KOREA CORPORATION was liquidated, and sales activities continued through the Korean branch.」
Following completion of the liquidation of KUBOTEK KOREA CORPORATION, the arrangement for continuing sales activities through the Korean branch has been reconfirmed. - FY2023-Q3AchievedAnnual report
「KUBOTEK KOREA CORPORATION, the Korean segment company, was excluded from the scope of consolidation upon completion of liquidation during the third quarter of the current consolidated fiscal year. Only its statement of income for the period during which it was a consolidated subsidiary has been included in the consolidated results.」
KUBOTEK KOREA CORPORATION, which had been undergoing liquidation through the previous quarter, completed liquidation during the third quarter of the current consolidated fiscal year and was excluded from the scope of consolidation. This filing contains no additional update on the plan to transition sales activities and maintenance operations in Korea to a sales office. - FY2023-Q2AdvancedAnnual report
「KUBOTEK KOREA CORPORATION, a consolidated subsidiary of the Company, was dissolved as of 31 August 2022 and was undergoing liquidation procedures as of the date of submission of this report.」
The planned dissolution of KUBOTEK KOREA CORPORATION from the previous quarter was carried out as of 31 August 2022. Liquidation procedures were still ongoing as of the date of submission. - FY2023-Q1First statedAnnual report
「KUBOTEK KOREA CORPORATION primarily sold components for image-processing visual inspection equipment in Korea and provided maintenance and other related services. However, in light of its continued weak performance and the future business environment, the Company determined that it would be difficult to continue the business and decided to dissolve the company. Sales activities in Korea and equipment maintenance for customers are scheduled to continue through a newly established sales office in Korea. End of August 2022: Dissolution resolution by the subsidiary (scheduled) End of November 2022: Completion of liquidation (scheduled)」
The Company decided to dissolve and liquidate its consolidated subsidiary KUBOTEK KOREA CORPORATION due to its continued weak performance. Sales activities and maintenance operations in Korea will change from the subsidiary to a newly established Korean sales office. Personnel expenses, outsourcing expenses and other costs associated with the liquidation are expected to be recorded as loss on liquidation of affiliated companies, and a gain or loss on the reversal of the foreign currency translation adjustment account is expected to be recorded upon completion of liquidation. The amount of the impact is still under review.