Ardepro : Update on “Notice Concerning a New Business in China”
September 06, 2017 at 11:48 pm EDT
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News Release: ARDEPRO Co., Ltd. (8925 TSE Second Section)
September 1, 2017
Update on "Notice Concerning a New Business in China"
ARDEPRO Co., Ltd. (" the Company") today announced an update of information presented in "Notice Concerning a New Business in China" dated August 2 , 2017, as follows.
. The Progress of a New Business in China
In a press release entitled " Notice Concerning a New Business in China" dated August 2, 2017, the Company announced that it would conclude a variable interest entity ( VIE) contract and start a new business with a corporation newly established in China. This corporation would be established by an individual who was an executive of a company that would conclude a consulting contract with the Company (scheduled to be established on September 1 , 2017).
Regarding the progress of this new business, the Company is currently negotiating the details with the company planning to conclude the consulting contract concerning establishment of the corporation in China and conclusion of the VIE contract. Accordingly, the corporation scheduled to be established on September 1, 2017 in China has not yet been established and the date of establishment has not been decided. In addition, the VIE contract has not been concluded as of September 1, 2017, and the date of the conclusion is not yet decided. Moreover, the business commencement date may be changed from November 1, 2017 , the date the Company had announced previously.
The Company will make an announcement when establishment of the corporation in China, the conclusion of VIE contract and/or the business commencement date are finalized.
Forecast
This event will have a slight impact on the Company's financial forecast for the fiscal year ending July 31 , 2018.
ARDEPRO Co. Ltd. published this content on 01 September 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 07 September 2017 03:47:05 UTC.
Original documenthttp://www.ardepro.co.jp/files/en/news/2017/0901_02.pdf
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ARDEPRO Co., Ltd. is primarily engaged in the real estate revitalization and leasing businesses. The Company has two business segments. The Real Estate Revitalization segment is engaged in the sale of pre-owned condominiums, company dormitories and others as primary residence properties and investment properties. The Real Estate Leasing Income segment is engaged in the ancillary business of the real estate revitalization-related business, such as rent revenue and fee income, among others. It also involves in investment advisory business.
ARDEPRO CO., LTD. 
