Full-scale launch of the rental car business
First written in FY2018-Q3. 4 of 10 entries say "Advanced", first in FY2018. Latest entry: FY2023-Q2.
- FY2023-Q2Completion of liquidationAnnual report
「Universal Rental Cars Limited, formerly a consolidated subsidiary, was excluded from the scope of consolidation following completion of its liquidation.」
The liquidation of Universal Rental Cars Limited, the rental car business subsidiary that had decided to withdraw from the business, was completed and the company was excluded from the scope of consolidation. - FY2021DroppedAnnual report
「In the Services segment, Universal Rental Cars Limited, a subsidiary operating the rental car business, decided to withdraw from that business after being affected by the decline in tourism demand resulting from travel restrictions imposed in New Zealand in response to COVID-19, and discontinued operations during the fiscal year.」
Universal Rental Cars Limited decided to withdraw from the rental car business in October 2020 and discontinued operations during the consolidated fiscal year. - FY2021-Q3WorsenedAnnual report
「This was mainly attributable to the impairment of goodwill and the disposal of fixed assets following the decision to liquidate Universal Rental Cars Limited, the consolidated subsidiary operating the rental car business, partly offset by increases resulting from the foreign currency translation effect on property, plant and equipment held by overseas subsidiaries.」
Following the decision to liquidate Universal Rental Cars Limited, the company proceeded with the impairment of goodwill and the disposal of fixed assets. The unamortized goodwill balance of ¥123.786 million was recognized in full as an impairment loss. - FY2021-Q2WorsenedAnnual report
「This was mainly attributable to the reduction to zero, through the recognition of an impairment loss, of the entire ¥128 million goodwill balance arising from the acquisition of the business through the consolidated subsidiary Universal Rental Cars Limited, a rental car company, following the Board of Directors’ resolution to liquidate that subsidiary, partly offset by increases resulting from the foreign currency translation effect on property, plant and equipment held by overseas subsidiaries.」
The Board of Directors resolved to liquidate Universal Rental Cars Limited, the rental car company, and the ¥128 million of goodwill arising from the business acquisition was fully impaired. - FY2021-Q1Purchase accounting finalizedAnnual report
「The business combination involving USAVE Car & Truck Rentals Limited conducted in the first quarter of the previous consolidated fiscal year had been accounted for on a provisional basis during that quarter, but the accounting treatment was finalized at the end of the previous consolidated fiscal year.」
For the business combination involving USAVE, the previously provisional purchase price allocation accounting was finalized at the end of the previous consolidated fiscal year. - FY2020-Q3AdvancedAnnual report
「As noted above, revenue increased on the solid performance of the personal auto loan business and the acquisition of the rental car business, but the substantial decline in sales through “SmartBuy” resulted in revenue of ¥418 million, down 2.8% year on year.」
The acquisition of the rental car business contributed to revenue in the Services segment. However, the segment’s total revenue declined 2.8% year on year due to lower sales through SmartBuy. - FY2020-Q2AdvancedAnnual report
「Universal Rental Cars Limited completed the acquisition of the rental car business and is proceeding with its integration.」
The company reached the milestone of completing the acquisition of the rental car business and is proceeding with its integration. - FY2020-Q1AdvancedAnnual report
「Through its wholly owned subsidiary Universal Rental Cars Limited (hereinafter, “UR”), the company acquired the related business and assets of USAVE Car & Track Rentals Limited (hereinafter, “USAVE”), which operates a rental car business in New Zealand.」
On 1 April 2019, the company acquired USAVE’s rental car business for NZ$8.4 million, acquiring a customer base serving domestic demand in New Zealand. It aims to increase revenue scale and efficiency by combining the business with its existing business serving tourism demand and consolidating overlapping locations. - FY2018AdvancedAnnual report
「Total capital expenditures made during the consolidated fiscal year amounted to ¥632.391 million. The principal items included ¥323.476 million for vehicles acquired as rental cars and ¥59.431 million for land and buildings used as vehicle storage yards in the Services segment, as well as ¥59.889 million for tools, fixtures and equipment in the Inspection segment.」
The company acquired ¥323.476 million in vehicles for rental cars, giving concrete form to its capital investment. - FY2018-Q3First statedAnnual report
「The rental car business, a new business that had been in the investment phase, is now entering full-scale operations.」
It was stated that the rental car business, which had been in the investment phase, had entered full-scale operations.