Disposal of leasing assets at Chinese subsidiaries and focus on manufacturing materials for the parent company
First written in FY2020-Q3. 1 of 2 entries say "Achieved", first in FY2020. Latest entry: FY2020.
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- FY2020AchievedAnnual report
「The details of the gain on sales of property, plant and equipment are as follows: assets for leasing, ¥1.748 million; leasehold rights, ¥277.609 million; machinery, equipment and vehicles, ¥57 thousand; total, ¥279.415 million.」
Regarding the policy of disposing of assets for leasing at the Chinese subsidiary, the sale of the Fuzhou subsidiary's leasehold rights and other assets was executed, moving the plan from disposal by December 2019 to the disposal having been completed. - FY2020-Q3First statedAnnual report
「At a board meeting held on 12 November 2019, the company resolved to dispose of the assets for leasing held by its consolidated subsidiaries 榕東活動房股份有限公司 (Fuzhou, People's Republic of China) and 廊坊榕東活動房有限公司 (Langfang, People's Republic of China) by December 2019. Both companies will henceforth focus exclusively on manufacturing materials for their parent company. The disposal of these assets for leasing is expected to result in a special loss of ¥109.860 million in the consolidated financial statements for the fiscal year ending March 2020.」
The company resolved to dispose of the assets for leasing held by its 2 Chinese subsidiaries by December 2019 and to have them focus exclusively on manufacturing materials for the parent company going forward.