Withdrawal from the Australian overseas business
First written in FY2016. 1 of 4 entries say "Restated". Latest entry: FY2023-Q2.
No other company in this theme has enough history to compare yet.
- FY2023-Q2AdvancedAnnual report
「In November 1989, Cosmos Australia Pty Ltd was established in Australia and operated a hotel and resort business through that company and its consolidated subsidiaries. Following the withdrawal from that business in 2018 and the transfer of other businesses, including the real estate business, to Cosmos Australia Holdings Pty Ltd, a consolidated subsidiary of the Company, it was decided to dissolve and liquidate Cosmos Australia Pty Ltd.」
Following the withdrawal from the hotel and resort operations business in 2018, other businesses were transferred to another Australian subsidiary, and the former subsidiary has now entered the post-withdrawal process of dissolution and liquidation. - FY2018AchievedAnnual report
「The withdrawal from the hotel and resort operations business in the overseas business was completed through the transfer of all shares in KBRV Resort Operations Pty Ltd on 26 March 2018, among other measures.」
The withdrawal from the hotel and resort operations business in Australia was completed through the transfer of all shares in KBRV Resort Operations Pty Ltd. - FY2017RestatedAnnual report
「As the policy is to withdraw from this business, the necessary accounting treatment has been made for the estimated losses associated with the future withdrawal.」
The policy of withdrawing from the hotel and resort operations business in Australia, and the accounting treatment for the estimated withdrawal loss, continue to be disclosed. - FY2016First statedAnnual report
「As the policy is to withdraw from this business, the necessary accounting treatment has been made for the estimated losses associated with the future withdrawal.」
The Company has indicated a policy of withdrawing from its overseas business centred on hotel and resort operations on Fraser Island.