Parker (9845) · FactFirst stated

Dissolution of Chinese Subsidiary QPME, Factory Closure and Land Expropriation

First written in FY2020. . Latest entry: FY2020.

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Chinese Government Expropriation of Factory and Relocation CompensationA theme 4 companies write about · 3 as a headwind · 1 as a tailwind

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Full recordFilings, disclosures and news, newest first

FY2020First statedAnnual report
「The Company resolved to dissolve the subsidiary during the current consolidated fiscal year, and liquidation procedures are under way." "A loss on retirement of fixed assets of ¥88 million was recognized, mainly due to the closure of a plant operated by a Chinese subsidiary, among other factors." "Relocation compensation of ¥273 million was recognized in connection with the expropriation of land, buildings and other assets of the Chinese subsidiary.」
The Company resolved to dissolve Chinese subsidiary QPME, and liquidation procedures were initiated. The disclosure includes a loss on retirement of fixed assets of ¥88 million associated with the plant closure and relocation compensation of ¥273 million associated with the expropriation of land, buildings and other assets.

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