Loss on Sale Associated with Large Redemptions from Investment Funds and Suspension of Fund Management
First written in FY2024-Q2. 3 of 3 entries say "Materialised", first in FY2024-Q2. Latest entry: FY2024.
The Kosei Securities moved to the "Worse" side of this theme in 2023.
The whole theme swung hardest in 2022: 1 of 8 companies on the "Worse" side.
0 other companies' latest entry also says "Materialised".
- FY2024MaterialisedAnnual report
「In addition, we recorded ¥72 million in non-operating expenses in connection with the redemption of an investment fund held for our own account.」
The loss on sales of investment securities related to the redemption following the large-scale redemption and suspension of fund management disclosed in the previous fiscal year was actually recorded as ¥72 million in non-operating expenses for the current fiscal year. - FY2024-Q3MaterialisedAnnual report
「In addition, we recorded ¥72 million in non-operating expenses in connection with the redemption of an investment fund held for our own account.」
The loss on sales of investment securities related to the redemption following the large-scale redemption and suspension of fund management disclosed by the previous quarter was actually recorded as ¥72 million in non-operating expenses for the nine months ended 31 December 2023. - FY2024-Q2MaterialisedAnnual report
「On 4 October 2023, we received notice from the fund manager that, among other matters, large-scale redemptions equivalent to 80% of the fund's net assets had occurred, and that consideration had begun regarding suspending management and completing the fund's liquidation. In response, we examined and discussed the future market environment surrounding the fund and other matters, and at a management meeting held on 5 October 2023 decided to proceed with the redemption and carried it out. … Loss on sales of investment securities ¥70 million」
After receiving notice from the investment fund manager of large-scale redemptions and consideration of suspending management and completing liquidation, the company decided to proceed with and carried out the redemption. It was stated that a ¥70 million loss on sales of investment securities was scheduled to be recorded in the nine months ended 31 December 2023.