Stabilizing the Business Foundation Through Company Splits and Special Liquidation of the Hiroshima and Kokura Hotel Subsidiaries
First written in FY2018-Q1. 1 of 3 entries say "Advanced", first in FY2018-Q2. Latest entry: FY2018-Q3.
The whole theme swung hardest in 2024: 2 of 12 companies on the "Worse" side.
38 other companies' latest entry also says "Achieved".
- FY2018-Q3AchievedAnnual report
「㈱ＲＲＨＨ and ㈱ＲＲＨＫ had filed petitions for commencement of special liquidation proceedings as of 1 November 2017. However, closure of the special liquidation proceedings was ordered for ㈱ＲＲＨＫ on 6 February 2018 and for ㈱ＲＲＨＨ on 9 February 2018.」
The special liquidation of the former Hiroshima and Kokura subsidiaries following the company split was concluded, completing the reorganization through the company split and special liquidation. - FY2018-Q2AdvancedAnnual report
「The Company resolved to separate the businesses of its subsidiaries RIHGA Royal Hotel Hiroshima and RIHGA Royal Hotel Kokura and transfer them to newly established companies, respectively, and completed the company split effective 1 September 2017. The Company also resolved to change the corporate names of the subsidiaries serving as the split companies to RRHH and RRHK, respectively, and to place them into special liquidation following the company split. The corporate names were changed effective 1 September 2017, and petitions to commence special liquidation proceedings were filed effective 1 November 2017.」
The company split transferring the Hiroshima and Kokura businesses to newly established companies was completed, followed by the corporate-name changes of the former companies and the filing of petitions to commence special liquidation proceedings. - FY2018-Q1First statedAnnual report
「Following consideration of future business development, the Company decided to transfer all rights and obligations pertaining to this business, excluding borrowings from the Company and other liabilities deemed excessive for conducting the business, to a new company established through an incorporation-type company split, so that the newly established subsidiary could comprehensively succeed to the business, with the aim of stabilizing the operating foundation and strengthening profitability.」
For the over-indebted hotel subsidiaries in Hiroshima and Kokura, the Company planned an incorporation-type company split, transfer of the businesses, special liquidation of the existing companies and waiver of approximately ¥15.8 billion in loan receivables, scheduled for 1 September 2017.