TOKYO, Jun 18 (Pulse News Wire) – Ichikura CO.,LTD. (6186.T) resolved at its board meeting held to divest assets of the Camelot-Hills Shanghai Hongqiao wedding venue operated by its subsidiary, Canzhen (Shanghai) Wedding Ceremony Service Co., Ltd.
The decision comes amid deteriorating profitability due to China's economic slowdown. The asset being transferred includes the venue used by Canzhen (Shanghai)'s Camelot-Hills Shanghai Hongqiao facility. The transaction is scheduled to take place on June 30, 2026. The book value of the assets is reported as 0 yuan, while the transfer price and gain amount to 1 yuan each. Payment will be made in cash.
Details of the divestiture show that during the fiscal year ending March 2026, the company had already adjusted the book value of these assets downward due to declining profitability, resulting in a special loss. Further specifics can be found in the notice released on May 13, 2026, concerning the recognition of special losses. The transferee remains undisclosed per mutual agreement. Contract signing is anticipated on June 25, 2026, with the actual transfer set for June 30, 2026. In addition to this divestiture, Ichikura plans to continue operating another venue, Camelot-Hills Shanghai Daying, through Canzhen (Shanghai).
Regarding future prospects, the company anticipates minimal impact on its performance but will promptly disclose any significant changes should they arise.
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