Making NKR CONTINENTAL a Subsidiary and Expanding into Commercial Kitchen Equipment
First written in FY2020-Q3. 1 of 2 entries say "Achieved", first in FY2020. Latest entry: FY2020.
The whole theme swung hardest in 2020: 2 of 9 companies on the "Worse" side.
3 other companies' latest entry also says "Achieved".
- FY2020AchievedAnnual report
「Business combination date: 15 January 2020 (deemed acquisition date: 31 December 2019) Voting rights acquired: 70%」
The planned acquisition of 70% of NKR CONTINENTAL and its conversion into a subsidiary on 15 January 2020 was completed, and the company has been included as a consolidated subsidiary. - FY2020-Q3First statedAnnual report
「At a meeting of the Board of Directors held on 13 November 2019, the Company resolved that its consolidated subsidiary, YOSHIMURA FOOD HOLDINGS ASIA PTE. LTD., would acquire shares in NKR CONTINENTAL PTE. LTD., making it a subsidiary and the Company’s grand-subsidiary. The target company is growing over the long term and on a stable basis in Singapore and Malaysia. In Malaysia, where economic growth is continuing, construction of luxury hotels and openings of restaurants remain active. In Singapore, demand for hotels and food-service businesses is also increasing on the back of the robust tourism industry, and we expect the target company’s business environment to remain favorable. We also expect significant synergies from sharing sales channels and collaborating with the Company’s Group. Business combination date: 15 January 2020 (deemed acquisition date: 31 December 2019) Expected voting rights acquired: 70%」
For NKR CONTINENTAL, which manufactures, imports and sells commercial kitchen equipment in Singapore and Malaysia, the company indicated a planned acquisition of 70% of the shares and its conversion into a subsidiary on 15 January 2020, together with synergies from sharing Group sales channels and collaborating.