What was the amount due from related parties for Benihana as of December 31, 2021?
Benihana Franchise · 2024 FDDAnswer from 2024 FDD Document
inancial statements. We believe that our audit provides a reasonable basis for our opinion.
/s/ Plante & Moran PLLC
We served as the Company's auditor from 2018 to 2021.
Boulder, Colorado
March 19, 2021
F-4
THE ONE GROUP HOSPITALITY, INC. CONSOLIDATED BALANCE SHEETS (in thousands, except share information)
| | December 31, 2021 | December 31, 2020 | |----------------------------------------------------------------------
Source: Item 22 — CONTRACTS (FDD pages 73–74)
What This Means (2024 FDD)
According to Benihana's 2024 Franchise Disclosure Document, the amount due from related parties as of December 31, 2021, was $376. This figure is listed as part of the current assets on Benihana's balance sheet.
This indicates the amount of money owed to Benihana by entities related to the company, such as subsidiaries, parent companies, or other affiliated businesses. For a prospective franchisee, this specific figure may not have a direct impact on their day-to-day operations.
However, it provides insight into Benihana's financial relationships and internal transactions. Understanding these related-party transactions can help a franchisee assess the overall financial health and stability of the Benihana franchise system. It's a standard accounting practice to disclose such amounts to provide a transparent view of a company's financial position.