Expansion of the Bag Business and Synergies Through Making 株式会社シカタ a Wholly Owned Subsidiary
First written in FY2018-Q3. 6 of 19 entries say "Advanced", first in FY2018. Latest entry: FY2023-Q3.
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- FY2023-Q3AchievedAnnual report
「At a meeting of the Board of Directors held on 10 February 2023, we resolved to transfer all shares of our wholly owned subsidiary 株式会社シカタ, hereinafter referred to as シカタ, through a share repurchase by シカタ, hereinafter the Share Transfer. We also resolved that シカタ would conduct a private placement capital increase with 京銀ＮｅｘｔＳｔａｇｅ2021ファンド投資事業有限責任組合, hereinafter the 京銀ファンド, and others as subscribers, and borrow funds from The Bank of Kyoto, Ltd. to finance the Share Transfer. These transactions were carried out on 22 March 2023.」
Following the shift away from the policy of expanding synergies through シカタ's conversion into a wholly owned subsidiary, the planned transfer of all shares was carried out on 22 March 2023, removing シカタ from the consolidated Group. - FY2023-Q2ReframedAnnual report
「The spread of COVID-19 reduced sales of travel goods, while the business environment became more difficult and uncertain due to factors including higher raw-material prices and increased import costs. In light of these changes, synergies pursued at the Group level following シカタ's conversion into a wholly owned subsidiary are expected to diminish. Accordingly, we determined that transferring シカタ would simplify and streamline the Group and allow us to focus on strengthening overseas sales, which are expanding, as part of our effort to concentrate management resources, while it would be best for シカタ's further growth to build a more stable business foundation independently with the necessary support from other companies.」
The policy shifted from expanding synergies through シカタ's conversion into a wholly owned subsidiary to transferring the company and supporting its independence in light of the expected decline in synergies. The transfer was scheduled to take place on 22 March 2023, indicating a concentration of management resources on overseas sales. - FY2023-Q1AdvancedAnnual report
「In the wholesale business of the subsidiary シカタ, OEM sales to mass retailers remained solid, bringing net sales to 117% of the previous fiscal year's level.」
At シカタ, OEM sales to mass retailers reached 117% of the year-earlier period, and the bag OEM business acquired continued to contribute to consolidated results. - FY2022-Q3AdvancedAnnual report
「In the wholesale business of the subsidiary シカタ, OEM sales to major business partners remained strong, bringing net sales to 115% of the year-earlier period.」
シカタ's OEM sales to major business partners reached 115% of the year-earlier period, indicating a recovery in post-acquisition business integration and its contribution to consolidated results. - FY2022-Q2AdvancedAnnual report
「In the wholesale business of the subsidiary シカタ, sales were affected by reduced bag sales at business partners and store closures due to the prolonged impact of the COVID-19 pandemic, but sales from OEM products for major business partners recovered, bringing net sales to 109% of the year-earlier period. In the retail business of the subsidiary シカタ, sales at department store locations recovered, bringing net sales to 107% of the year-earlier period.」
At シカタ, OEM sales to major business partners reached 109% of the year-earlier period, while retail sales reached 107% following the recovery in department store locations. Recovery was evident in both wholesale and retail. - FY2022-Q1Recovery in シカタ's wholesale business and weakness in retailAnnual report
「In the wholesale business of the subsidiary シカタ, sales from OEM products for major customers recovered, and net sales reached 112% of the year-earlier period.」
At シカタ, OEM sales to major customers recovered, while retail sales reached 77% of the year-earlier period due to department store closures and requests to refrain from going out. - FY2021-Q3シカタ sales declined despite the launch of new productsAnnual report
「At the subsidiary シカタ, sales increased for an antibacterial bag launched as a new product for lifestyles with COVID-19, but the impact of the prolonged spread of COVID-19 was significant, and net sales reached 89% of the year-earlier period.」
While an antibacterial bag for lifestyles with COVID-19 was launched, the impact of the continued spread of the virus persisted, and シカタ's net sales reached 89% of the year-earlier period. The rate of decline narrowed from 82% in the previous quarter. - FY2021-Q2WorsenedAnnual report
「At the subsidiary シカタ, bag OEM sales and original-brand sales declined due to the impact of the spread of COVID-19, and net sales reached 82% of the year-earlier period.」
シカタ's bag OEM sales and original-brand sales declined, and net sales reached 82% of the year-earlier period. - FY2021-Q1WorsenedAnnual report
「At the subsidiary シカタ, the spread of COVID-19 caused bag OEM sales and original-brand sales to decline, and net sales reached 83% of the year-earlier period.」
シカタ's bag OEM sales and original-brand sales declined due to the impact of the spread of COVID-19, and net sales reached 83% of the year-earlier period. - FY2020WorsenedAnnual report
「For the subsidiary 株式会社シカタ, the spread of COVID-19 affected production and sales, causing both bag OEM sales and original-brand sales to fall below the previous year, with net sales reaching 89% of the previous fiscal year's level.」
シカタ's bag OEM sales and original-brand sales fell below the previous year due to the impact of the spread of COVID-19, and net sales reached 89% of the previous fiscal year's level. - FY2020-Q3Decline in subsidiary sales due to the spread of COVID-19Annual report
「In addition, sales by the subsidiary 株式会社シカタ fell below the previous year's level as the spread of COVID-19 affected production and sales.」
While シカタ continued to contribute to consolidated results following its conversion into a wholly owned subsidiary, the spread of COVID-19 affected its production and sales, causing sales to fall below the previous year's level. - FY2020-Q2RestatedAnnual report
「In addition, sales by the subsidiary 株式会社シカタ remained solid, primarily through OEM sales of bags, and net sales for the six months ended the second quarter of the current consolidated fiscal year reached a record ¥7,849 million for a cumulative period, despite a slowdown in sales due to the consumption tax increase.」
Following its conversion into a wholly owned subsidiary, シカタ's bag OEM sales continued to remain solid and contributed to consolidated net sales. - FY2020-Q1RestatedAnnual report
「In addition, sales by the subsidiary 株式会社シカタ remained solid, primarily through OEM sales of bags, bringing net sales for the first nine months of the current consolidated fiscal year to ¥3,842 million.」
Following its conversion into a wholly owned subsidiary, シカタ's bag OEM sales continued to remain solid and contributed to consolidated results. - FY2019AdvancedAnnual report
「In addition, sales by 株式会社シカタ increased, primarily through OEM sales of bags, bringing total net sales to ¥15,155 million, compared with ¥9,011 million in the previous consolidated fiscal year.」
Following its conversion into a wholly owned subsidiary, シカタ's bag OEM sales were incorporated into full-year consolidated results and contributed to the increase in net sales. - FY2019-Q3RestatedAnnual report
「株式会社シカタ, which joined the Group this fiscal year, also boosted sales, primarily through OEM sales of bags, bringing net sales for the nine months ended the third quarter of the current consolidated fiscal year to ¥11,330 million.」
Following its conversion into a wholly owned subsidiary, シカタ's bag OEM sales continued to boost consolidated net sales. - FY2019-Q2RestatedAnnual report
「In addition, OEM sales of bags by 株式会社シカタ remained solid, and net sales amounted to ¥7,399 million.」
Following its conversion into a wholly owned subsidiary, シカタ's bag OEM sales remained solid and contributed to consolidated net sales. - FY2019-Q1AdvancedAnnual report
「On 27 April 2018, we completed the acquisition of all shares of 株式会社シカタ and made the company and its subsidiary, SHICATA SINGAPORE Pte.Ltd, consolidated subsidiaries. Net sales amounted to ¥3,360 million, including sales from 株式会社シカタ, primarily from OEM sales of bags.」
Following its conversion into a wholly owned subsidiary, シカタ's bag OEM sales and retail sales were actually included in consolidated results for the quarter, indicating that post-acquisition business integration had progressed to the stage where it could be confirmed in earnings disclosures. - FY2018AdvancedAnnual report
「At a Board of Directors meeting held on 6 April 2018, the company resolved to acquire all shares of 株式会社シカタ and make it a subsidiary. The shares were acquired on 27 April 2018.」
The acquisition of all shares of シカタ was formally completed, with an acquisition cost of ¥1,594 million and a voting rights ratio of 100.00%, making it a consolidated subsidiary. Synergy initiatives, including more efficient production and distribution, collaborative products, new categories and the reciprocal use of sales channels, are described as future plans. - FY2018-Q3First statedAnnual report
「At a Board of Directors meeting held on 6 April 2018, the company resolved to acquire all shares of 株式会社シカタ and make it a subsidiary. The shares were acquired on 27 April 2018.」
The company made 株式会社シカタ a wholly owned subsidiary at an acquisition cost of ¥1,594.101 million, with a 100.00% voting-rights ratio. It aims to strengthen its earnings structure by applying ミレスト's brand expertise to its bags category, improving production and distribution efficiency, developing collaborative products and new categories, mutually utilizing sales channels, and reviewing e-commerce sales.