At 30 November 20X6, three people own the shares of Suntory. The finance director owns 60 per cent, and the operations director owns 30 per cent. The third owner is a passive investor who does not help manage the entity. All ordinary shares carry equal voting rights. The spouse of the finance director is the sales director of Suntory. Their son is currently undertaking an internship with Suntory and receives a salary of $30,000 per annum, which is normal compensation. The finance director and sales director have set up an investment company, Baleel. They jointly own Baleel and their shares in Baleel will eventually be transferred to their son when he has finished the internship with Suntory. In addition, on 1 June 20X6 Suntory obtained a bank loan of $500,000 at a fixed interest rate of 6 per cent per annum. The loan is to be repaid on 30 November 20X7. Repayment of the principal and interest is secured by a guarantee registered in favour of the bank against the private home of the finance director.

Required: 

The directors of Suntory require advice on the identification and disclosure of the company’s related parties in preparing its separate financial statements for the year ending 30 November 20X6.