Reverse Acquisition through a Share Exchange and Loss of Continuity in Consolidated Financial Data
First written in FY2021-Q3. 3 of 4 entries say "Restated". Latest entry: FY2022-Q3.
No other company in this theme has enough history to compare yet.
- FY2022-Q3RestatedAnnual report
「This share exchange constitutes a reverse acquisition under business combination accounting, with the Company as the acquiree and 日産証券株式会社 as the acquirer. As a result, there is no continuity between the quarterly consolidated financial statements for the nine months ended the third quarter of the previous fiscal year and those for the nine months ended the third quarter of the current fiscal year.」
The Company reconfirms that, due to the impact of the reverse acquisition, the consolidated financial statements for the nine months ended the third quarter of the current fiscal year are not continuous with those for the same period of the previous fiscal year. - FY2022-Q2RestatedAnnual report
「This share exchange constitutes a reverse acquisition under business combination accounting, with the Company as the acquiree and 日産証券株式会社 as the acquirer. As a result, there is no continuity between the quarterly consolidated financial statements for the six months ended the second quarter of the previous fiscal year and those for the six months ended the second quarter of the current fiscal year.」
The Company reconfirms that, due to the impact of the reverse acquisition, the consolidated financial statements for the six months ended the second quarter of the current fiscal year are not continuous with those for the same period of the previous fiscal year, and has omitted year-on-year comparisons of financial results and cash flows. - FY2022-Q1RestatedAnnual report
「This share exchange constitutes a reverse acquisition under business combination accounting, with the Company as the acquiree and 日産証券株式会社 as the acquirer. As a result, there is no continuity between the quarterly consolidated financial statements for the three months ended the first quarter of the previous fiscal year and those for the three months ended the first quarter of the current fiscal year.」
The Company reconfirms that, due to the reverse acquisition, the consolidated financial statements for the first quarter of the current fiscal year are not continuous with those for the same quarter of the previous fiscal year, and has omitted year-on-year comparisons of financial results. - FY2021-Q3First statedAnnual report
「This share exchange constitutes a reverse acquisition under business combination accounting, with the Company as the acquiree and 日産証券株式会社 as the acquirer. Accordingly, for the quarterly consolidated financial statements, the assets and liabilities reported in the Company's consolidated financial statements immediately before the share exchange were measured at fair value and carried over to the consolidated balance sheet of 日産証券株式会社. As a result, there is no continuity between the Company's consolidated financial statements for the previous consolidated fiscal year and the quarterly consolidated financial statements for the nine months ended the third quarter of the current fiscal year.」
The Company explains that, under the accounting treatment for the reverse acquisition in which 日産証券 is the acquirer and the Company is the acquiree, the figures for the nine months ended the third quarter of the current fiscal year combine six months of 日産証券's figures with three months of the Company's figures after the share exchange, and therefore are not comparable with the previous fiscal year.