Strengthening the group management platform by making 住友不動産販売 a wholly owned subsidiary
First written in FY2018-Q1. 2 of 4 entries say "Cited as achieved", first in FY2020-Q1. Latest entry: FY2021-Q3.
2 other companies' latest entry also says "Cited as achieved".
- FY2021-Q3Cited as achievedAnnual report
「In June 2017, we also made 住友不動産販売㈱, our real estate brokerage subsidiary, a wholly owned subsidiary, eliminating the risk of conflicts of interest arising from the dual listing of a parent and subsidiary and establishing a structure to promote the enhancement of corporate value over the medium to long term through the optimal allocation of group management resources, while also working to further strengthen corporate governance.」
The full acquisition of 住友不動産販売 is cited again as a past achievement that eliminated the risk of conflicts of interest associated with the dual listing of a parent and subsidiary and enabled the optimal allocation of group management resources. - FY2020-Q1Cited as achievedAnnual report
「In June 2017, we also made 住友不動産販売㈱, our real estate brokerage subsidiary, a wholly owned subsidiary, eliminating the risk of conflicts of interest arising from the dual listing of a parent and subsidiary and establishing a structure to promote the enhancement of corporate value over the medium to long term through the optimal allocation of group management resources, while also working to further strengthen corporate governance.」
The full acquisition of 住友不動産販売 is cited as a past achievement that eliminated the risk of conflicts of interest arising from the dual listing of a parent and subsidiary and enabled the optimal allocation of group management resources. - FY2019-Q2AdvancedAnnual report
「During the cumulative second-quarter consolidated period, we additionally acquired shares of our consolidated subsidiary, 住友不動産販売株式会社.」
Additional shares of 住友不動産販売 were acquired, reducing capital surplus by ¥28.593 billion. The disclosure states that shares of the company were acquired even after it became a wholly owned subsidiary. - FY2018-Q1AchievedAnnual report
「The shares held by non-controlling shareholders were acquired to strengthen the group's management platform.」
Through a tender offer and a demand for the sale of shares, the ownership percentage of 住友不動産販売株式会社 was ultimately increased from 70.38% to 100.00%. The acquisition dates were 11 May and 7 June 2017, and the acquisition cost was ¥60.946 billion.