Restructuring the Earnings Structure of Each Business Ahead of the Transition to a Holding Company Structure
First written in FY2017-Q1. 12 of 20 entries say "Advanced", first in FY2018. Latest entry: FY2024-Q1.
6 other companies' latest entry also says "Cited as achieved".
- FY2024-Q1Cited as achievedAnnual report
「We expect future cash flow to improve as a result of withdrawing from unprofitable businesses, including the closure of the main outlet of T.O. Department Store in August 2023.」
It states that the Group withdrew from unprofitable businesses as part of its business structural reform and earnings-model restructuring, and expects this to improve future cash flow. - FY2023-Q3AdvancedAnnual report
「Having determined that it would be difficult to improve profitability over the medium term, we decided to close the store.」
As part of the restructuring of the earnings model, the Group progressed to a decision to close the main テーオーデパート store at the end of August 2023. - FY2023-Q2Cited as achievedAnnual report
「The benefits of improved profitability from the business portfolio restructuring implemented in prior years have begun to materialize」
It is cited as evidence that the effects of prior-year measures to restructure the earnings model had begun to improve profit in the second quarter. - FY2022-Q3AdvancedAnnual report
「On 1 January 2022, the Group transferred the sports club business operated by its consolidated subsidiary 株式会社テーオー総合サービス to OKAMOTO INDUSTRIES,INC., which operates “JOYFIT” and “FIT365.”」
As part of the restructuring of the earnings model and business portfolio, the transfer of the sports club business progressed from the decision stage to completion. - FY2022-Q2AdvancedAnnual report
「In addition to higher selling prices resulting from price increases caused by the global supply-demand squeeze following the wood shock, sales exceeded the year-earlier period due to the sale of inventory on hand. Profit also exceeded the year-earlier period because of cost reductions from structural reforms involving the consolidation and closure of branches. As a result, sales were ¥2,403 million, up 3.9% year on year, and operating profit was ¥156 million, up 114.3% year on year.」
In the timber business, the effects of structural reforms involving the consolidation and closure of branches and cost reductions were reflected in year-on-year improvements in sales and operating profit. - FY2022-Q1AdvancedAnnual report
「From the perspectives of restructuring the business portfolio and reallocating management resources, our consolidated subsidiary 株式会社テーオーリテイリング entered into a capital and business alliance with DCM Co., Ltd. of the DCM Group, one of Japan's largest home improvement center operators, on 15 July 2021, and transferred part of the shares in TORT held by our company to DCM. In addition, our consolidated subsidiary 株式会社テーオーフォレスト decided to scale back its housing business.」
As specific measures to reform the business structure and improve earnings power, the Group progressed to a DCM alliance involving the partial transfer of shares in a distribution subsidiary and a decision to scale back the housing business. - FY2021-Q3AdvancedAnnual report
「In the timber business of our Group, profitability continued to improve through measures including the partial transfer of underperforming divisions」
It states that the partial transfer of underperforming divisions in the timber business was carried out and that profitability continued to improve through the restructuring of the earnings model. - FY2021-Q2AdvancedAnnual report
「In the timber business, profitability continued to improve through the partial transfer of underperforming divisions, among other measures」
The partial transfer of unprofitable and underperforming divisions was carried out, and it states that profitability in the timber business continued to improve. This represents concrete progress in business structural reform. - FY2021-Q1RestatedAnnual report
「We will proceed with the withdrawal from and sale of unprofitable businesses, verify the profitability of divisions and sites in each business, and pursue rationalization. We will also reallocate the various resources generated by business withdrawals and sales toward restructuring the business portfolio.」
The Group has indicated a policy of continuing to rebuild its business portfolio by withdrawing from or selling unprofitable businesses and reallocating resources generated by such withdrawals. - FY2020-Q3AdvancedAnnual report
「From the third quarter of the current fiscal year, TOFL changed from a consolidated subsidiary of the Company to an equity-method affiliate.」
The company split of the flooring business and transfer of a 50% interest to 大建工業, specific measures to restructure the earnings model, were reflected from the current quarter as a change to an equity-method affiliate. - FY2020-Q2AdvancedAnnual report
「As part of various measures to improve earnings, in November 2019 the Group transferred the flooring business operated by its consolidated subsidiary 株式会社テーオーフォレスト within its timber business to the newly established 株式会社テーオーフローリング through a company split, specifically an absorption-type company split, and transferred 50% of the shares of 株式会社テーオーフローリング to 大建工業株式会社.」
As a specific measure to restructure the earnings model, the Group carried out a company split of the flooring business and transferred a 50% interest in TOFL to 大建工業. - FY2020-Q1RestatedAnnual report
「For businesses where improved profitability is not expected, or where the Group has determined that improving future business value would be difficult on its own because of the business scale or other factors, it will pursue greater selectivity and concentration by withdrawing from those businesses, including through business sales.」
The Group has indicated a policy of continuing to withdraw from businesses where improved profitability or business value is not expected, and of pursuing greater selectivity and concentration as a means of business structural reform. - FY2019-Q3AdvancedAnnual report
「At a meeting of our Board of Directors held on 27 December 2018, we resolved, in order to advance the alliance between our company and Daiken Corporation (hereinafter, "Daiken"), to transfer through an absorption-type company split the flooring business, which forms part of the business of our wholly owned subsidiary 株式会社テーオーフォレスト (hereinafter, "TOFR"), to 株式会社テーオーフローリング, a wholly owned subsidiary that we plan to establish (hereinafter, the "New Company"). We also decided to transfer 50% of the shares in the New Company from our company to Daiken (hereinafter, the "Share Transfer").」
The alliance with 大建工業, part of the restructuring of the earnings model, progressed to specific stages involving the establishment of a new company, execution of a company split agreement and the planned transfer of 50% of the shares. - FY2019-Q3AdvancedAnnual report
「Meanwhile, in the timber business, intensified price competition with imported products in the plywood market led the Group to conclude that profitability could not be expected under its model of producing and selling plywood at its own plywood manufacturing plant, hereinafter referred to as the Kitami Plant. The Kitami Plant ceased operations at the end of March 2019 and was closed at the end of April of the same year.」
As a specific measure to reform the business structure and strengthen earnings power, the Group decided to suspend operations at and close the Kitami Plant against a backdrop of intensifying competition in the plywood market, and specified the implementation deadlines. - FY2019-Q2AdvancedAnnual report
「At a meeting of our Board of Directors held on 27 December 2018, we resolved, in order to advance the alliance between our company and Daiken Corporation (hereinafter, "Daiken"), to transfer through an absorption-type company split the flooring business, which forms part of the business of our wholly owned subsidiary 株式会社テーオーフォレスト (hereinafter, "TOFR"), to 株式会社テーオーフローリング, a wholly owned subsidiary that we plan to establish (hereinafter, the "New Company"). We also decided to transfer 50% of the shares in the New Company from our company to Daiken (hereinafter, the "Share Transfer").」
As a specific measure to reform the business structure and strengthen earnings power, a plan was approved to split the flooring business into a new company and establish a 50% equity interest through an alliance with 大建工業. - FY2019-Q1RestatedAnnual report
「Under these circumstances, as part of its business structural reforms and efforts to strengthen profitability, our Group has been actively expanding its businesses, including considering a business alliance with a new partner in the timber business and entering new businesses capable of generating synergies with existing businesses in the housing business.」
The Group continues business structural reform and efforts to strengthen earnings power, citing the consideration of a business alliance in the timber business and entry into new businesses in the housing business as measures. - FY2018AdvancedAnnual report
「Meanwhile, the Group has pursued business structural reform and stronger earnings power, including the withdrawal from unprofitable stores.」
Regarding the restructuring of the earnings model after the transition to a holding company structure, it describes progress in specific measures, including business structural reform, stronger earnings power and the withdrawal from unprofitable stores. - FY2017-Q3RestatedAnnual report
「Against this backdrop, the Group has been restructuring the earnings models of each business in preparation for the planned transition to a holding company structure around June 2017.」
The Group continues to explain that it is restructuring the earnings models of each business in preparation for the transition to a holding company structure. The procedural progress represented by the execution of an absorption-type company split agreement is recorded in t6. - FY2017-Q2RestatedAnnual report
「In preparation for the planned transition to a holding company structure around June 2017, our Group worked to restructure the profit structure of each business.」
The Group continues to restructure the earnings models of each business in preparation for the transition to a holding company structure. - FY2017-Q1First statedAnnual report
「In preparation for the planned transition to a holding company structure around June 2017, our Group worked to restructure the profit structure of each business.」
For the first time, it explicitly described measures to restructure the earnings models of each business in connection with the transition to a holding company structure.