Withdrawal from consolidated subsidiary status by tendering shares in the Mac House tender offer
First written in FY2025-H1. 1 of 2 entries say "Achieved", first in FY2026-H1. Latest entry: FY2026-H1.
No other company in this theme has enough history to compare yet.
- FY2026-H1AchievedAnnual report
「On 19 November 2024, the Company transferred all shares of 株式会社マックハウス, which operated the apparel business, to G Future Fund No. 1 Investment Limited Partnership. Accordingly, from the current interim consolidated accounting period, the Group has been a single-segment company engaged solely in the footwear business, and segment information has been omitted.」
The transfer of all マックハウス shares was completed, and from the current interim consolidated accounting period the apparel business was excluded from the scope of consolidation, leaving the Company with a single segment consisting only of the footwear business. - FY2025-H1First statedAnnual report
「At a meeting of the Board of Directors held on 11 October 2024, the Company resolved to enter into a tender offer agreement with Ｇ Ｆｕｔｕｒｅ Ｆｕｎｄ１号投資事業有限責任組合 (Ｇ Ｆｕｔｕｒｅ Ｆｕｎｄ１号) under which the Company would tender all of its common shares in マックハウス, a consolidated subsidiary, in the tender offer for マックハウス common shares conducted by Ｇ Ｆｕｔｕｒｅ Ｆｕｎｄ１号, and entered into the agreement on the same date. Following completion of the tender offer, マックハウス will cease to be a consolidated subsidiary of the Company.」
The Company entered into an agreement on 11 October 2024 to tender all 9,389,880 マックハウス shares in a tender offer at ¥32 per share. Following completion of the tender offer, the Company's holdings will be 0 shares and マックハウス is expected to cease to be a consolidated subsidiary. The disclosure states that マックハウス had recorded operating losses for the 6 most recent fiscal years, from the fiscal year ended February 2019 through the fiscal year ended February 2024, and that its business is expected to be rebuilt using the acquiring group's logistics network of 53 locations in Asia and 43 locations in Japan, as well as its brands.