Business Selection and Concentration Following the Discontinuation of the People Bicycle Business
First written in FY2023. 2 of 5 entries say "Advanced", first in FY2024-Q1. Latest entry: FY2024.
No other company in this theme has enough history to compare yet.
- FY2024AchievedAnnual report
「Non-operating income and extraordinary gains included ¥9 million in insurance proceeds covering collection-related costs associated with the bicycle recall that occurred in the previous fiscal year, as well as a ¥3 million gain on the transfer of the bicycle business under the business transfer agreement, among other items, contributing to profit.」
For the bicycle business, the company recorded a ¥3 million gain on the transfer of the business under the business transfer agreement, reflecting the business selection and concentration and transfer outlined in the previous fiscal year as an actual result. - FY2024-Q3AchievedAnnual report
「Non-operating income and extraordinary gains included ¥9 million in insurance proceeds covering collection-related costs associated with the bicycle recall that occurred in the previous fiscal year, as well as a ¥3 million gain on the transfer of the bicycle business under the business transfer agreement recorded in October, among other items, contributing to profit.」
Regarding the bicycle business whose discontinuation was announced in the previous fiscal year, the company recorded a ¥3 million gain on the transfer of the business under the business transfer agreement in October, reflecting the transfer as an actual result. - FY2024-Q2AdvancedAnnual report
「Following discussions with the relevant parties, we became confident that the brand’s credibility would continue to be enhanced and decided to transfer the manufacturing and sales rights to 株式会社トップ (head office: Shinjuku-ku, Tokyo), with which we have long had a business relationship as a bicycle retailer, effective 2 October 2023. We are proceeding toward signing the agreement.」
Regarding the bicycle business whose discontinuation had been announced, the company decided to transfer the manufacturing and sales rights to 株式会社トップ effective 2 October 2023 and is proceeding toward signing the agreement. The business has advanced to the concrete stage of transferring the brand and manufacturing and sales rights following its discontinuation. - FY2024-Q1AdvancedAnnual report
「We first announced the end of manufacturing and sales of the bicycle series in the toys and vehicles category. We will allocate the freed-up resources to developing new businesses.」
Regarding the decision to discontinue the bicycle business announced in the previous fiscal year, the company formally announced the end of manufacturing and sales and moved to the stage of redirecting the freed-up resources to new business development. - FY2023First statedAnnual report
「We decided to discontinue the People bicycle business because we could not establish its profitability or prospects for future growth, in order to allocate resources to new business projects that should be prioritized.」
The company explicitly stated for the first time its decision to discontinue the People bicycle business in order to concentrate personnel and funds on priority new businesses based on their profitability and prospects for future growth.