Acquiring Cerevo as a subsidiary to incorporate its IoT technology and development capabilities and enter new markets
First written in FY2023-Q2. 3 of 5 entries say "Dropped", first in 2026-06-02. Latest entry: FY2026.
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- FY2026DroppedAnnual report
「In December 2022, we made Cerevo a subsidiary and continued to consider manufacturing audio and video products in collaboration with our Group, leveraging its capabilities as a manufacturing company. However, the products were not commercialised, and the situation in which no prospects for future commercialisation could be seen continued.」
As the plan to commercialise products by leveraging Cerevo's IoT and manufacturing capabilities did not come to fruition, all shares were transferred through an MBO on 1 April 2026, and Cerevo was excluded from the scope of consolidation. - FY2023-Q3AchievedAnnual report
「During the third quarter of the current consolidated fiscal year, we acquired 80.0% of the shares of Cerevo. As a result, Cerevo became a newly consolidated subsidiary of the company.」
The company completed the acquisition of shares in Cerevo on 1 December 2022 and made it a consolidated subsidiary with an 80.0% voting rights ratio. - FY2023-Q2First statedAnnual report
「At a meeting of the Board of Directors held on 7 November 2022, we resolved to acquire shares in Cerevo and make it a subsidiary. Based on this resolution, we entered into a share transfer agreement on the same date. By welcoming Cerevo into our Group and leveraging its advanced IoT technology and hardware and software development capabilities, we will advance the development of original audio and video products and enhance services for concerts and events. We also anticipate the possibility of entering consumer markets, including IoT (connected) home appliances, an area in which Cerevo excels. Voting rights to be acquired: 80.0% Business combination date: 1 December 2022 (scheduled share acquisition date)」
The company resolved to acquire shares in Cerevo and make it a subsidiary, with 1 December 2022 set as the scheduled acquisition date and an 80% voting rights ratio to be acquired. The initiative aims to develop audio and video products, enhance event services and enter consumer markets by leveraging Cerevo's IoT technology and hardware and software development capabilities.