Naigai (8013) · InitiativeAchieved
Withdrawal from the Apparel Business, Including Women's Outerwear, and Conversion of the ウメダニット Interest into a Non-Voting Interest
First written in FY2024-Q1. 1 of 2 entries say "Achieved", first in FY2024-Q2. Latest entry: FY2024-Q2.
2entries
1years
0from disclosures
How it moved
Same theme, other companies
Exclusion from equity-method accounting due to ウメダニット shares becoming non-votingA theme 1 companies write about · 1 as a headwind · 0 as a tailwind
No other company in this theme has enough history to compare yet.
Full recordFilings, disclosures and news, newest first
- FY2024-Q2AchievedAnnual report
「During the second quarter of the fiscal year ending January 2024, voting rights were removed from the shares in Umeda Knit Co., Ltd., which had been an equity-method affiliate, and the company was therefore excluded from the scope of equity-method accounting.」
The removal of voting rights from the shares in Umeda Knit Co., Ltd., for which completion of the procedure had been disclosed in the previous quarter, was implemented in the current quarter, and the company was excluded from the scope of equity-method accounting. Retained earnings decreased by ¥412 million as a result of the exclusion from equity-method accounting. - FY2024-Q1First statedAnnual report
「The procedure to remove voting rights from the shares in Umeda Knit Co., Ltd., an equity-method affiliate of the Company, was completed on 16 May 2023. As a result, Umeda Knit Co., Ltd. will be excluded from the Company’s equity-method affiliates from the second quarter of the fiscal year ending January 2024.」
In connection with the withdrawal from the apparel business, including women’s outerwear, the Company ended its production outsourcing arrangement with and management involvement in Umeda Knit and removed voting rights from its shares. The procedure was completed on 16 May 2023, and Umeda Knit was scheduled to be excluded from the Company’s equity-method affiliates from the second quarter of the fiscal year ending January 2024. Investment securities and net assets were expected to decrease by ¥427 million.