Expansion of the Turkey and Middle East Business through the Acquisition of Orgen Gıda
First written in FY2017-Q3. 3 of 8 entries say "Advanced", first in FY2018-Q2. Latest entry: FY2019.
No other company in this theme has enough history to compare yet.
- FY2019Deteriorating business environment and impairmentAnnual report
「At イスタンブール味の素食品社 in Turkey, the discount rate used in impairment testing increased as country risk rose amid uncertainty over the economic outlook. Because future recoverability could not currently be expected, the carrying amount was reduced to the recoverable amount, resulting in a goodwill impairment loss of ¥3,843 million recorded as other operating expenses.」
The business platform following the integration of the three Turkish companies incurred a goodwill impairment loss of ¥3,843 million due to increased country risk. - FY2019-Q2AdvancedAnnual report
「Since acquiring a 50% stake in キュクレ食品社 in December 2013, we have strengthened efforts relating to the stable growth of vinegar and fruit sauces and the expanding small-format retail chain sector. As a result, キュクレ食品社's 2016 revenue grew to approximately twice its 2014 level. By making オルゲン食品社 and キュクレ食品社 wholly owned subsidiaries, and combining オルゲン食品社's bouillon, powdered soup and other businesses under the "ビジム ムトゥファク" brand with キュクレ食品社's liquid seasonings business under the "KEMAL KÜKRER" ("ケマル キュクレル") brand, the Ajinomoto Group became able to operate as a comprehensive food manufacturer in Turkey. Having completed the integration in July 2018 of the three companies established in July 2011—イスタンブール味の素食品販売社, キュクレ食品社 and オルゲン食品社—the Group will strengthen collaboration further, seek additional business expansion in Turkey and aim to exceed ¥10 billion in combined revenue for the three companies at an early date.」
Explicitly stated that the integration of the three Turkish companies was completed in July 2018, while continuing the objective of strengthening collaboration after integration and achieving combined revenue of more than ¥10 billion. - FY2018AdvancedAnnual report
「By making オルゲン食品社 and キュクレ食品社 wholly owned subsidiaries, and combining オルゲン食品社's bouillon, powdered soup and other businesses under the "ビジム ムトゥファク" brand with キュクレ食品社's liquid seasonings business under the "KEMAL KÜKRER" ("ケマル キュクレル") brand, the Ajinomoto Group will be able to operate as a comprehensive food manufacturer in Turkey. Integration of the three companies established in July 2011—イスタンブール味の素食品販売社, キュクレ食品社 and オルゲン食品社—is scheduled for July 2018. By strengthening collaboration, the Group aims to expand its business further in Turkey and exceed ¥10 billion in combined revenue for the three companies at an early date.」
Following the acquisition of full ownership of the two Turkish companies, scheduled the integration of the three companies for July 2018 and specified the target of combined revenue exceeding ¥10 billion. - FY2018-Q3RestatedAnnual report
「By making オルゲン食品社 and キュクレ食品社 wholly owned subsidiaries, and combining オルゲン食品社's bouillon, powdered soup and other businesses under the "ビジム ムトゥファク" brand with キュクレ食品社's liquid seasonings business under the "KEMAL KÜKRER" ("ケマル キュクレル") brand, the Ajinomoto Group will be able to operate as a comprehensive food manufacturer in Turkey. We will seek further business expansion in Turkey by strengthening collaboration with a view to integrating the three companies established in July 2011—イスタンブール味の素食品販売社, キュクレ食品社 and オルゲン食品社—and aim to exceed ¥10 billion in combined revenue for the three companies at an early date.」
Following the acquisition of full ownership of オルゲン食品社 and キュクレ食品社, reconfirmed the policy of strengthening collaboration with a view to integrating the three Turkish companies and aiming for combined revenue of more than ¥10 billion. - FY2018-Q2AdvancedAnnual report
「Since acquiring a 50% stake in キュクレ食品社 in December 2013, we have strengthened efforts relating to the stable growth of vinegar and fruit sauces and the expanding small-format retail chain sector. As a result, キュクレ食品社's 2016 revenue grew to approximately twice its 2014 level. By making オルゲン食品社 and キュクレ食品社 wholly owned subsidiaries, and combining オルゲン食品社's bouillon, powdered soup and other businesses under the "ビジム ムトゥファク" brand with キュクレ食品社's liquid seasonings business under the "KEMAL KÜKRER" ("ケマル キュクレル") brand, the Ajinomoto Group will be able to operate as a comprehensive food manufacturer in Turkey. We will seek further business expansion in Turkey by strengthening collaboration with a view to integrating the three companies established in July 2011—イスタンブール味の素食品販売社, キュクレ食品社 and オルゲン食品社—and aim to exceed ¥10 billion in combined revenue for the three companies at an early date.」
Following the acquisition of オルゲン食品社, acquired the remaining 50% of キュクレ食品社 and made it a wholly owned subsidiary. Progressed to a specific plan to strengthen collaboration with a view to integrating the three Turkish companies and to achieve combined revenue of more than ¥10 billion at an early date. - FY2018-Q1RestatedAnnual report
「On 15 November 2016, we entered into an agreement to purchase all shares of the Turkish food company Örgen Gıda Sanayi ve Ticaret A.S. (hereinafter, "オルゲン食品社") and the trademark rights to its widely established Turkish powdered seasoning brand "Bizim Mutfak" (hereinafter, "ビジム ムトゥファク"). We acquired all shares and the trademark rights on 3 April 2017. Accordingly, the company became a consolidated subsidiary.」
The acquisition of all shares and brand trademark rights of オルゲン食品社 and its inclusion as a consolidated subsidiary were reconfirmed in the business description and business combination notes for the first quarter. The acquired company recorded revenue of ¥1,189 million and quarterly profit of ¥95 million during the quarter. - FY2017AchievedAnnual report
「On 15 November 2016, we entered into an agreement to purchase all shares of the Turkish food company Örgen Gıda Sanayi ve Ticaret A.S. (hereinafter, "オルゲン食品社") and the trademark rights to its widely established Turkish powdered seasoning brand "Bizim Mutfak" (hereinafter, "ビジム ムトゥファク"). We acquired all shares and the trademark rights on 3 April 2017.」
The acquisition of all shares of オルゲン食品社 and its brand trademark rights was completed on 3 April 2017. - FY2017-Q3First statedAnnual report
「The transaction is intended to expand our business portfolio in Turkey and accelerate expansion in the Middle East from Turkey by acquiring the four businesses operated by オルゲン食品社—bouillon, powdered soups, menu seasonings and powdered desserts—and its "ビジムムファク" brand. Date of business combination: 1 March 2017 (planned) Percentage of voting rights to be acquired: 100%」
On 15 November 2016, entered into an agreement to purchase all shares of オルゲン食品社 and the trademark rights to "ビジムムファク." The consideration was expected to be 220 million Turkish lira, or ¥7,284 million, and the business combination was scheduled for 1 March 2017.