Dissolution and Liquidation of Cosmos Australia Pty Ltd
First written in FY2023-Q2. 1 of 3 entries say "Restated". Latest entry: FY2023.
- FY2023AchievedAnnual report
「Cosmos Australia Pty Ltd, which was a consolidated subsidiary in the previous consolidated fiscal year, has been excluded from the scope of consolidation because its liquidation was completed.」
Cosmos Australia Pty Ltd, which had been reported as being in the process of dissolution and liquidation through the previous fiscal year, was excluded from the scope of consolidation as its liquidation had been completed. - FY2023-Q3RestatedAnnual report
「The impact of the dissolution is that a deferred tax asset of ¥1,018 million was recognised in the cumulative consolidated period through the third quarter in respect of deductible temporary differences related to the investment in the company. In addition, a loss is expected to be recognised when the liquidation is completed, resulting from the reversal of the foreign currency translation adjustment related to the investment in the company.」
Following the resolution to dissolve and liquidate Cosmos Australia Pty Ltd, the liquidation is still expected to be completed once the necessary procedures are completed. The completion of the liquidation itself has not yet been reported. - FY2023-Q2First statedAnnual report
「At a meeting of the Board of Directors held on 31 October 2022, the Company resolved to dissolve and liquidate its consolidated subsidiary, Cosmos Australia Pty Ltd. Cosmos Australia Pty Ltd was established in Australia in November 1989 and operated hotels and resorts together with its consolidated subsidiaries. However, the Company withdrew from that business in 2018, and the other businesses, including the real estate business, were changed from Cosmos Australia Pty Ltd to Cosmos Australia Holdings Pty Ltd, another consolidated subsidiary of the Company. Accordingly, the Company decided to dissolve and liquidate Cosmos Australia Pty Ltd.」
Following its withdrawal from the hotel and resort operations business in 2018 and the transfer of its other businesses, the Company resolved at a board meeting held on 31 October 2022 to dissolve and liquidate Cosmos Australia Pty Ltd. The liquidation is expected to be completed after the necessary procedures are completed, and the reorganisation of the former Australian subsidiary was disclosed as a new legal and organisational measure.