Transfer of Assets Held by Mauna Lani Resort
First written in FY2018-Q1. 2 of 4 entries say "Restated". Latest entry: FY2019-Q1.
1 other company's latest entry also says "Cited as achieved".
- FY2019-Q1Cited as achievedAnnual report
「In the hotel and resort business, although occupancy remained high and average room rates increased at hotel operator Tokyu Hotels Co., Ltd., operating revenue declined 9.6% year on year to ¥24.462 billion and operating income declined 36.5% to ¥1.280 billion, mainly due to the impact of the transfer of assets held by Mauna Lani Resort (Operation) Co., Ltd. in the previous fiscal year.」
The transfer of assets held by Mauna Lani Resort completed in the previous fiscal year affected the hotel and resort business results for the first quarter. - FY2018-Q3RestatedAnnual report
「In the hotel and resort business, consolidated subsidiary Mauna Lani Resort (Operation) Co., Ltd. (a December year-end company) transferred the Mauna Lani Bay Hotel & Bungalows in August 2017.」
The transfer of Mauna Lani Resort’s hotel and bungalows in August 2017 has been reconfirmed. - FY2018-Q2RestatedAnnual report
「The Company and its wholly owned subsidiary Mauna Lani Resort (Operation) Co., Ltd. (a December year-end company) completed the transfer of land, buildings and other assets located in Hawaii, U.S., on 1 August 2017 pursuant to the sale and purchase agreement approved at the Board of Directors meeting held on 12 May 2017. The subsidiary expects to record approximately ¥13.0 billion in extraordinary income and other gains in the following quarter of the consolidated fiscal year as a result of the transfer. The gain or loss from the transfer of assets held by the Company has already been recorded in the consolidated income statement for the current quarter, and profit before income taxes and other adjustments for the current consolidated fiscal year is expected to increase by approximately ¥15.0 billion in total.」
The completion of the transfer of assets held by Mauna Lani Resort has been reconfirmed, with approximately ¥13.0 billion in extraordinary income and other gains expected to be recorded by the subsidiary in the following quarter and total profit before income taxes and other adjustments expected to increase by approximately ¥15.0 billion. - FY2018-Q1AchievedAnnual report
「The Company and its wholly owned subsidiary Mauna Lani Resort (Operation) Co., Ltd. (hereinafter, “MLRO”) completed the transfer of assets held on 1 August 2017 pursuant to the sale and purchase agreement approved at the Board of Directors meeting held on 12 May 2017.」
The Company completed the transfer of land, buildings and other assets in Hawaii, U.S. The land comprised 528.11 ha held by the Company and 303.89 ha held by MLRO. The transfer is expected to increase profit before income taxes and other adjustments for the current consolidated fiscal year by approximately ¥15.0 billion. The transfer was undertaken after the transferee, which highly valued the resort, offered to take over the assets.