Making PALTEK Corporation a subsidiary and entering into a capital and business alliance
First written in FY2021. 4 of 8 entries say "Advanced", first in FY2023-Q1. Latest entry: FY2023.
No other company in this theme has enough history to compare yet.
- FY2023AdvancedAnnual report
「Although consumer equipment applications entered an adjustment phase, sales to industrial and automotive equipment customers remained firm. In addition, net sales increased due to growth in 株式会社ＰＡＬＴＥＫ’s sales and progress in developing new products and customers.」
Growth in PALTEK's sales, expansion into new products and customers, and sales to industrial and automotive equipment markets contributed to revenue growth in the semiconductor and electronic components business. - FY2023-Q3AdvancedAnnual report
「Although market conditions for some products in the device business slowed, sales to industrial and automotive equipment markets remained firm, while expansion into new customers and growth in PALTEK's sales also contributed to higher revenue.」
The company states that growth in PALTEK's sales contributed to revenue growth in the device business, together with expansion into new customers and sales to industrial and automotive equipment markets. - FY2023-Q2AdvancedAnnual report
「The device business posted higher revenue, reflecting increased demand for industrial and automotive equipment, contributions from sales of new projects, and the consolidation of PALTEK as a subsidiary.」
The company states that making PALTEK a wholly owned subsidiary contributed to revenue growth in the device business, together with demand for industrial and automotive equipment and new projects. - FY2023-Q1AdvancedAnnual report
「Revenue growth resulting from making PALTEK Corporation (hereinafter, “PALTEK”) a consolidated subsidiary」
The company states that making PALTEK a wholly owned subsidiary contributed to revenue growth in the semiconductor and electronic components business in the first quarter. - FY2022-Q3Recognition of gain on bargain purchase arising from the acquisitionAnnual report
「In addition, although the company recognised ¥1,934 million as a gain on bargain purchase under extraordinary income upon making PALTEK and its affiliated companies wholly owned subsidiaries, quarterly net income attributable to owners of the parent decreased, partly because the company had recognised ¥3,865 million in gains on sales of investment securities in the same period of the previous year.」
The company recognised ¥1,934 million as a gain on bargain purchase under extraordinary income upon making PALTEK a wholly owned subsidiary. - FY2022-Q2AchievedAnnual report
「PALTEK carried out a share consolidation with 2 September 2021 as the effective date. With the court's approval under the provisions of Article 234, paragraph 2, as applied pursuant to Article 235, paragraph 2, of the Companies Act, the company additionally acquired the fractional shares arising from the share consolidation. As a result, PALTEK became a wholly owned subsidiary of the company.」
Following the acquisition of 88.37% of PALTEK's voting rights in June, the company completed the process of making PALTEK a wholly owned subsidiary through the 2 September share consolidation and additional acquisition of fractional shares. - FY2022-Q1AchievedAnnual report
「As a result of the tender offer, the company made PALTEK a consolidated subsidiary as of 3 June 2021, the date on which settlement of the tender offer commenced. Acquired voting rights: 88.37%」
Under business combination accounting, the company has also confirmed that PALTEK became a consolidated subsidiary on 3 June 2021 following the tender offer, with 88.37% of voting rights acquired. - FY2021First statedAnnual report
「As a result of the tender offer, the target company became a consolidated subsidiary of the tender offeror as of 3 June 2021, the date on which settlement of the tender offer commenced.」
Following the tender offer launched in April 2021, PALTEK became a consolidated subsidiary on 3 June 2021. The purchase price was ¥6,582 million, and a capital and business alliance agreement was also signed on 9 April 2021.