Participation in Thailand’s For-Sale Housing Development Business
First written in FY2019-Q2. 2 of 4 entries say "Restated". Latest entry: FY2023-Q1.
1 other company's latest entry also says "Advanced".
- FY2023-Q1AdvancedAnnual report
「In December 2022, the Company invested in and participated in a project being developed by Britania Public Company Limited, a subsidiary of Thailand-based real estate developer Origin Property Public Company Limited, marking the Company's first overseas detached-home development project.」
The scope of the Thailand business expanded from the existing joint development of condominiums to investment in and participation in the Company's first overseas detached-home development project. - FY2020-Q1RestatedAnnual report
「As a new overseas business, the Company invested in a Hawaii real estate investment fund in March 2019 and established its subsidiary ESCON JAPAN（THAILAND）CO.,LTD. in Thailand in July of the same year, participating in a joint development project for condominium units in Bangkok.」
Participation in the joint development of condominiums in Bangkok through the local Thai subsidiary continues to be reported. - FY2019-Q3RestatedAnnual report
「From the third quarter of the fiscal year under review, ORIGIN KNIGHTSBRIDGE THEPHARAK CO.,LTD., acquired through a share purchase, and GCBメザニン合同会社, in which the Company invested through a silent partnership, have been included in the scope of equity-method accounting, respectively.」
Regarding participation in the joint development business in Thailand, it was confirmed that ORIGIN KNIGHTSBRIDGE THEPHARAK CO.,LTD. has been included as an equity-method affiliate since the third quarter of the fiscal year. - FY2019-Q2First statedAnnual report
「At a Board of Directors meeting held on 28 June 2019, the company resolved to participate in a for-sale housing development business in Thailand. On 9 July 2019, it established its consolidated local subsidiary ESCON JAPAN (THAILAND) CO.,LTD. and, through that subsidiary, acquired on 31 July 2019 an interest in ORIGIN KNIGHTSBRIDGE THEPHARAK CO.,LTD., an equity-method affiliate that operates a joint for-sale condominium development business with Thai real estate developer ORIGIN PROPERTY PUBLIC COMPANY LIMITED. The total amount was approximately ¥425 million.」
The company established a local subsidiary in Thailand and participated in a joint for-sale condominium development business with a local developer. The project comprises 36 floors above ground and 1 basement floor, with 474 residential units and 1 retail unit, and the ownership ratio after acquisition was 49%. The company also participated in a fund investing in a for-sale condominium development project in Bangkok, with a committed investment of ¥500 million and an actual investment of ¥9 million.