Strengthening the venue audio market and creating opportunities to win orders by making 株式会社JVCケンウッド・アークス a subsidiary
First written in FY2017-Q2. 3 of 6 entries say "Advanced", first in FY2017. Latest entry: FY2018.
No other company in this theme has enough history to compare yet.
- FY2018AdvancedAnnual report
「Although special demand associated with the frequency migration of specified low-power radio microphones disappeared during the current consolidated fiscal year, revenue exceeded that of the previous consolidated fiscal year because Hibino Arcs Co., Ltd., which became a consolidated subsidiary in the third quarter of the previous year, contributed for the full year, and all businesses performed steadily against a backdrop of increased capital investment toward 2020 and firm demand for concerts and events.」
The disclosure states that Hibino Arcs, which became a subsidiary, contributed to results for the full year. It contributed to higher revenue in the audio equipment sales and installation business, but profit declined due to the disappearance of special demand. - FY2018-Q3AdvancedAnnual report
「The audio equipment sales and installation business posted higher revenue year on year because Hibino Arcs Co., Ltd., which performs installation work, became a consolidated subsidiary in the third quarter of the previous year. However, profit declined significantly due to the disappearance of special-demand gains.」
The disclosure states that Hibino Arcs, which became a subsidiary, contributed to higher revenue in the audio equipment sales and installation business. - FY2018-Q1RestatedAnnual report
「The results of JVC Kenwood Arcs Co., Ltd., which became a newly consolidated subsidiary in the third quarter of the fiscal year ending March 2017 and changed its corporate name to Hibino Arcs Co., Ltd. on 1 July 2017, will be included for the full year. However, its contribution during the first quarter of the consolidated cumulative period was limited because delivery deadlines for its main customers, including government agencies and local authorities, are concentrated in the fourth quarter.」
The Company expects Hibino Arcs, formerly JVC Kenwood Arcs, to contribute for the full year after becoming a subsidiary, while explaining that its contribution to first-quarter results was limited. - FY2017AdvancedAnnual report
「The shares held by non-controlling shareholders were purchased to strengthen the capital relationship.」
After making JVC Kenwood Arcs a subsidiary, the Company acquired additional shares held by non-controlling shareholders, raising its voting rights ratio from 94.26% to 99.97%. - FY2017-Q3AchievedAnnual report
「On 1 December 2016, the Company made its equity-method affiliate JVC Kenwood Arcs Co., Ltd. a subsidiary.」
The acquisition of the subsidiary was completed on 1 December 2016. The additional acquisition represented 59.26%, bringing the voting rights ratio after the acquisition to 94.26%. The plan to strengthen the live sound market and create new order opportunities through cooperation with Group companies moved into the completed implementation stage. - FY2017-Q2First statedAnnual report
「At a meeting of the Board of Directors held on 31 October 2016, the Company resolved to acquire additional shares of JVC Kenwood Arcs Co., Ltd., an equity-method affiliate, and make it a subsidiary. On the same day, the Company entered into a share transfer agreement with JVC Kenwood Co., Ltd., the parent company of JVC Kenwood Arcs, and plans to acquire the additional shares on 1 December 2016.」
The Company plans to acquire 41,480 shares of its equity-method affiliate, resulting in an ownership ratio of 94.26% after the acquisition. The objectives are to strengthen its position in the live sound market, enhance cooperation with Group companies and create new order opportunities.