SEC Has No Objection to New Oriental (EDU) Subsidiary Consolidation into Financials
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New Oriental Education and Technology Group Inc. (NYSE: EDU) has filed its annual report on Form 20-F for the fiscal year ended May 31, 2012 with the Securities and Exchange Commission.
The annual report can be accessed on New Oriental's investor relations website at investor.neworiental.org or the SEC's website at www.sec.gov. New Oriental will provide a hard copy of the annual report containing its audited consolidated financial statements, free of charge, to its shareholders and ADS holders upon request.
Prior to the filing of the 2012 Form 20-F, New Oriental was informed by the staff of the SEC's Division of Corporation Finance that, based on the Company's representations made in response to the SEC's inquiries, the staff has no objection to the Company's consolidation of its variable interest entity, Beijing New Oriental Education & Technology (Group) Co., Ltd. ("New Oriental China"), into the Company's consolidated financial statements, and also has no objection to the Company's consolidation of its schools into New Oriental China or into the Company's wholly-owned subsidiaries in China. The SEC staff has indicated that it will continue to review New Oriental's disclosure documents, including the 2012 Form 20-F.
The annual report can be accessed on New Oriental's investor relations website at investor.neworiental.org or the SEC's website at www.sec.gov. New Oriental will provide a hard copy of the annual report containing its audited consolidated financial statements, free of charge, to its shareholders and ADS holders upon request.
Prior to the filing of the 2012 Form 20-F, New Oriental was informed by the staff of the SEC's Division of Corporation Finance that, based on the Company's representations made in response to the SEC's inquiries, the staff has no objection to the Company's consolidation of its variable interest entity, Beijing New Oriental Education & Technology (Group) Co., Ltd. ("New Oriental China"), into the Company's consolidated financial statements, and also has no objection to the Company's consolidation of its schools into New Oriental China or into the Company's wholly-owned subsidiaries in China. The SEC staff has indicated that it will continue to review New Oriental's disclosure documents, including the 2012 Form 20-F.
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