Reallocation of Management Resources through the Transfer of an 80% Interest in Yokkaichi Solar
First written in FY2022. 2 of 3 entries say "Cited as achieved", first in FY2023-Q1. Latest entry: FY2024-Q1.
The whole theme swung hardest in 2022: 1 of 7 companies on the "Worse" side.
0 other companies' latest entry also says "Cited as achieved".
- FY2024-Q1Cited as achievedAnnual report
「①Gain on the sale of the silent partnership interest in the Yokkaichi Solar silent partnership business and recognition of a fair value gain on the retained silent partnership interest in the previous fiscal year (△3,834)」
The transfer of the 80% Yokkaichi Solar interest and the fair value gain on the retained interest were cited as historical factors contributing to the decline in EBITDA for the current quarter. - FY2023-Q1Cited as achievedAnnual report
「A gain on disposal of ¥3,134 million resulting from the loss of control was recognized as other income. A fair value gain of ¥700 million on the equity interest retained by us was also recognized as other income.」
Following completion of the transfer of the 80% interest in Yokkaichi Solar, the company reported a gain on disposal of ¥3,134 million and a fair value gain of ¥700 million on the retained interest. - FY2022AchievedAnnual report
「On 22 April 2022, we decided to transfer and transferred 80% of our silent partnership interest in the Yokkaichi Solar silent partnership business, a consolidated subsidiary, to SMFL Mirai Partners Co., Ltd. for its participation in the business. Following the transfer, our retained silent partnership interest was 20%, and the Yokkaichi Solar silent partnership business was removed from the scope of consolidation and equity-method accounting.」
The transfer of the 80% interest in the Yokkaichi Solar silent partnership was completed on 22 April 2022. A gain on the transfer of approximately ¥3,100 million and a fair value gain of approximately ¥700 million were scheduled to be recognized in the fiscal year ending March 2023, and the transaction was described as a reallocation of management resources for growth.