Joint venture structure with Sumitomo Mitsui Finance & Leasing owned 50% each
First written in FY2018. 2 of 4 entries say "Advanced", first in FY2019-Q3. Latest entry: FY2020-Q1.
0 other companies' latest entry also says "Advanced".
- FY2020-Q1AdvancedAnnual report
「Cash flow from investing activities was an outflow of ¥89.3 billion, reflecting approximately ¥30 billion recovered through asset rotation, including the sale of the UK offshore wind power business and the joint operation of the aircraft engine leasing business, while approximately ¥120 billion was invested or lent, including for the acquisition of the Nordic parking business and domestic real estate projects.」
In connection with the reorganization of the leasing business, the joint operation of the aircraft engine leasing business was described as part of asset recycling. - FY2019AchievedAnnual report
「In fiscal 2018, the reorganization of the joint leasing business with Sumitomo Mitsui Financial Group (SMFG), comprising general leasing, auto leasing, and aircraft leasing, was completed. Specifically, the structure was changed so that Sumitomo Mitsui Finance & Leasing (SMFL), jointly owned 50% each by SMFG and the company, became the platform for the joint leasing business, with SMFL making investments in Sumitomo Mitsui Auto Service and SMBC Aviation Capital Limited.」
The reorganization of the joint leasing business and the change to a 50%-50% joint business structure centered on Sumitomo Mitsui Finance & Leasing were completed. - FY2019-Q3AdvancedAnnual report
「Cash flow from investing activities was an outflow of ¥29.2 billion, reflecting approximately ¥170 billion recovered through asset rotation, including the restructuring of the US tire business and the restructuring of the leasing business, including the sale of a direct interest in the aircraft leasing business, while approximately ¥200 billion was invested or lent, including for participation in the Indian specialty steel business and the French offshore wind power business.」
The reorganization of the leasing business specifically described the direct sale of the aircraft leasing business interest as proceeds recovered through asset recycling. - FY2018First statedAnnual report
「The company agreed to reorganize its leasing business so that the ownership interests in Sumitomo Mitsui Finance & Leasing, a joint business with Sumitomo Mitsui Financial Group, would be held 50% by each company.」
The companies agreed to reorganize their ownership interests to improve the competitiveness and growth potential of their general leasing, aircraft leasing, and auto leasing businesses.