Introduction of external capital and a new management structure at ZE Energy, and its inclusion under the equity method
First written in FY2021-Q1. 2 of 4 entries say "Restated". Latest entry: FY2022-Q3.
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- FY2022-Q3RestatedAnnual report
「During the second quarter of the consolidated fiscal period, ZEエナジー ceased to qualify as an affiliate following the sale of all its shares and was therefore excluded from the scope of equity-method application.」
The company progressed beyond the stage of introducing external capital into ZEエナジー and applying the equity method, confirming that ZEエナジー was excluded from the scope of affiliates and equity-method application following the transfer of all its shares. - FY2022-Q1ReframedAnnual report
「At a meeting of the Board of Directors held on 13 July 2021, we resolved to transfer all shares in ZEエナジー, an equity-method affiliate, and to waive the receivable, and carried out the share transfer and debt waiver on the same date. As a result, ZEエナジー was removed from the scope of application of the equity method.」
The company progressed beyond the stage of introducing external capital into ZEエナジー and applying the equity method, transferring all of its 48.97% holding and changing ZEエナジー to a status outside the scope of consolidation and the equity method. - FY2021-Q2RestatedAnnual report
「In connection with this share transfer, ZEエナジー was excluded from the scope of consolidation and became an equity-method affiliate.」
The policy of introducing external capital into ZEエナジー, changing to a new management structure, and excluding ZEエナジー from the scope of consolidation remains in place. - FY2021-Q1First statedAnnual report
「We resolved to transfer part of the shares after determining that accepting external capital expected to generate synergies and establishing a new management structure to support ZE Energy's further growth and technological advancement, while investing more management resources in the growing FX business and financial systems development business, would contribute to enhancing the Group's overall corporate value.」
On 15 May 2020, the company completed a partial transfer of ZEエナジー shares and changed ZEエナジー from a consolidated subsidiary to an equity-method affiliate. While seeking ZEエナジー's growth and technological improvement through the receipt of external funds and establishment of a new management structure, the company indicated a policy of allocating more management resources to its FX business and financial systems development business.