Making the Singapore Franchisee a Wholly Owned Subsidiary to Establish Singapore as a Hub for the Franchise Business
First written in FY2017-Q3. 3 of 7 entries say "Restated". Latest entry: FY2019-Q2.
The whole theme swung hardest in 2020: 2 of 9 companies on the "Worse" side.
5 other companies' latest entry also says "Restated".
- FY2019-Q2RestatedAnnual report
「Revenue from overseas operations was ¥3,343 million, down 12.1% year on year, due in part to the exclusion of the Singapore subsidiary from the scope of consolidation, despite the steady performance of the U.S. subsidiary.」
The Singapore subsidiary remained excluded from the scope of consolidation, and the impact on revenue from overseas operations was reiterated. - FY2018RestatedAnnual report
「As all shares of GENKI SUSHI SINGAPORE PTE.LTD. were transferred effective 31 August 2017, the company was excluded from the consolidated subsidiaries from the second quarter of the current consolidated accounting period.」
The transfer of all shares of the Singapore subsidiary and its exclusion from the scope of consolidation were confirmed for the full year. The policy is to transition to franchise agreements with the transferee and pursue the target of 250 overseas stores by using the group's network. - FY2018-Q3AdvancedAnnual report
「As all shares of GENKI SUSHI SINGAPORE PTE.LTD. were transferred effective 31 August 2017, the company was excluded from the consolidated subsidiaries from the second quarter of the current consolidated accounting period.」
The transfer of the Singapore subsidiary announced in the previous quarter was completed, and the company was excluded from the scope of consolidation from the second quarter of the current consolidated accounting period. - FY2018-Q2AdvancedAnnual report
「As all shares of GENKI SUSHI SINGAPORE PTE.LTD. were transferred effective 31 August 2017, the company was excluded from the consolidated subsidiaries from the second quarter of the current consolidated accounting period.」
The planned transfer of the Singapore subsidiary announced in the previous quarter was completed effective 31 August 2017, and the company was excluded from the consolidated subsidiaries. In Singapore and elsewhere, the business transitioned to franchise agreements with the transferee. - FY2018-Q1ReframedAnnual report
「At a meeting of the Board of Directors held on 28 July 2017, the Company resolved to transfer all shares of its consolidated subsidiary, GENKI SUSHI SINGAPORE PTE.LTD., to JAPANESE DINING CONCEPTS (ASIA) LIMITED and entered into a share transfer agreement on the same date.」
The plan was changed from wholly owning the Singapore subsidiary and using it as a base for expanding the franchise business to transferring it to a major franchisee group in Hong Kong. The transfer was scheduled for late August 2017, after which the ownership interest would be 0%. The rationale given was to use the group's network and expansion capabilities to pursue the target of 250 overseas stores. - FY2017RestatedAnnual report
「Given its geographical and economic characteristics, the Republic of Singapore was considered one of the bases for expanding the franchise business, and GENKI SUSHI SINGAPORE PTE.LTD. was made a subsidiary.」
The purpose of making the Singapore entity a subsidiary was reconfirmed as establishing a base for expanding the franchise business. - FY2017-Q3First statedAnnual report
「Given its geographical and economic characteristics, the Republic of Singapore was considered one of the bases for expanding the franchise business, and Genki Sushi Singapore Pte.Ltd. was made a subsidiary.」
All shares of Genki Sushi Singapore Pte.Ltd., formerly a franchisee, were acquired on 19 December 2016, making it a consolidated subsidiary with a 100% voting interest. Singapore was positioned as one of the bases for expanding the franchise business.