Business efficiency gains from consolidating 4 U.S. subsidiaries into 1
First written in FY2020-Q1. 1 of 2 entries say "Achieved", first in FY2020. Latest entry: FY2020.
No other company in this theme has enough history to compare yet.
- FY2020AchievedAnnual report
「Effective 25 June 2019, the company completed a merger by absorption in which JCI US Inc. (formerly Contour Networks Inc.) was the surviving company and Contour Inc. (formerly JCI US Inc.) was the absorbed company.」
The consolidation of the 4 U.S. subsidiaries was completed by June 2019, and the U.S. operations were consolidated into 1 company, JCI US Inc. - FY2020-Q1First statedAnnual report
「During the first quarter of the current consolidated fiscal year, following the suspension of development of network unauthorized-access protection technology by consolidated subsidiary Arxceo Corporation, and also to improve the efficiency of its U.S. operations, the group reorganized its subsidiaries by consolidating 4 U.S. subsidiaries, JCI US Inc., Contour Networks Inc., Computer and Communication Technologies Inc. and Arxceo Corporation, into 1 U.S. subsidiary, JCI US Inc.」
From April through June 2019, the company absorbed 4 U.S. subsidiaries into 1 and consolidated its U.S. operations under JCI US Inc. It recorded ¥31 million in business structure improvement expenses in connection with the reorganization.