Succession of the JCB credit guarantee business through a company split
First written in FY2020-Q1. 1 of 4 entries say "Achieved", first in FY2020-Q2. Latest entry: FY2024.
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- FY2024RestatedAnnual report
「With 1 March 2024 as the effective date, the company absorbed its wholly owned subsidiary JACCS Payment Solutions Co., Ltd. through an absorption-type merger and succeeded to all of its rights and obligations.」
Through the absorption-type merger, the company succeeded to functions including the former deferred-payment settlement service. The deferred-payment settlement service itself has already been discontinued. - FY2020-Q3Finalisation of provisional purchase price allocation for a business combinationAnnual report
「Provisional accounting had been applied in the second-quarter consolidated accounting period to the business combination involving the credit guarantee business succeeded from JCB Co., Ltd. on 24 September 2019. The accounting was finalised in the current third-quarter consolidated accounting period. No adjustment was made to the amount of goodwill.」
The provisional purchase price allocation for the business combination relating to the succession of JCB's credit guarantee business was finalised, with no adjustment to the amount of goodwill. - FY2020-Q2AchievedAnnual report
「The company entered into an absorption-type company split agreement dated 15 April 2019. The company split under the agreement was completed on 24 September of the same year.」
The company split through which the company succeeded to JCB's credit guarantee business was completed on 24 September 2019. - FY2020-Q1First statedAnnual report
「At a meeting of the Board of Directors held on 15 March 2019, the company resolved to enter into a business succession agreement concerning the succession of the credit guarantee business of JCB Co., Ltd. (hereinafter, “JCB”) (the “Business”) through a company split (simplified absorption-type company split) (the “Company Split”), and to enter into an absorption-type company split agreement relating to the Company Split. The effective date of the Company Split is scheduled for 24 September 2019. The company determined that the Company Split would further strengthen the company's guarantees for individual bank loans and expand the earnings base of the Group as a whole over the medium to long term.」
The company entered into an agreement to succeed to JCB's credit guarantee business through a simplified absorption-type company split, with the transaction scheduled to take effect on 24 September 2019. The purpose was to strengthen guarantees for individual bank loans and the Group's earnings base.