Recording of Other Income
Feb 14, 2020
J Trust Co., Ltd.
We hereby announce that J Trust Co., Ltd. (hereinafter, the “Company”) will record other income for the fiscal year ended December 31, 2019 (April 1, 2019 to December 31, 2019).
An impact on the Company’s consolidated results for the fiscal year ended December 31, 2019 has been incorporated into “Consolidated Financial Results For the Fiscal Year Ended December 31, 2019 (IFRS)” published on February 13, 2020.
1. Date of occurrence of the event
August 19, 2019 (Share acquisition date)
2. Details of the event
The Company acquired ANZ Royal Bank (Cambodia) Ltd. (currently, J Trust Royal Bank Ltd.), a commercial bank in Cambodia, as a consolidated subsidiary by acquiring 55% of the issued shares from ANZ Funds Pty Ltd. After measuring the fair value of the identifiable assets and liabilities at the time of the acquisition through the acquisition method, net assets measured at fair value exceeded the consideration for the acquisition. As a result, the Company decided to record bargain purchase in other income.
3. Impact of the event on consolidated statement of profit or loss
Due to the occurrence of this event, gain on bargain purchase of 3,355 million yen was recorded in other income in the Company’s consolidated financial results for the fiscal year ended December 31, 2019.
Contact for inquiries
J Trust Co., Ltd. Finance Department
+81(3) 4330-9100 (Weekdays 9:00-18:00 JST)