Expanding Overseas Operations Through M&A of Hygiene Product Manufacturers in Turkey and Brazil
First written in FY2020. 8 of 11 entries say "Advanced", first in FY2021-Q1. Latest entry: FY2026-H1.
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- FY2026-H1AchievedAnnual report
「During the current interim consolidated accounting period, the transfer of all shares in Elier International Turkey Kişisel Bakım Ürünleri Üretim A.S. was completed, and the company was excluded from the scope of consolidation.」
The transfer of all shares in the Turkish business was completed on 27 June 2025, and the company was excluded from the scope of consolidation. The policy of acquiring and expanding the Turkish hygiene-products manufacturer, launched in 2020, was completed through the withdrawal from and transfer of the business. - FY2025Decision to withdraw from the Turkish businessAnnual report
「Following consideration of the future development of the Turkish business, the company determined that transferring its EITR shares to the Evyap Group, which manufactures and sells personal-care products in Turkey, would enable EITR to continue its business and enhance corporate value.」
For the Turkish hygiene-products manufacturer acquired in 2020, the company signed an agreement to transfer all shares to the Evyap Group, changing its policy from overseas M&A-led expansion to business withdrawal and transfer. The transfer is scheduled to be completed in late June 2025. - FY2024AdvancedAnnual report
「Sales value in Brazil exceeded the same period of the previous year due to the penetration of price revisions for each product and growth in sales of value-added products in tissue products, baby care and feminine care.」
In the acquired Brazilian business, price revisions and the shift toward higher value-added products across multiple categories progressed, contributing to overseas earnings through sales of ¥68,003 million and Santel sales of ¥71,449 million. - FY2024-Q2AdvancedAnnual report
「In the overseas business, sales value in Brazil exceeded the same period of the previous year due to the penetration of price revisions for each product, as well as progress in premiumization through the launch of value-added products in feminine care, baby care and paper products. In Turkey, sales value also exceeded the same period of the previous year due to the penetration of price revisions for each product, as well as expanded sales of baby care, wet tissues, liquid products and others.」
In the acquired hygiene-products businesses in Brazil and Turkey, price revisions, the launch and premiumization of value-added products, and expanded sales across multiple categories progressed, causing sales value in both regions to exceed the same period of the previous year. - FY2022AdvancedAnnual report
「For the overseas business as a whole, sales value exceeded that of the same period of the previous year, partly because the results of the Brazilian and Turkish subsidiaries, which had been included in the scope of consolidation since the end of the previous first quarter, contributed from the beginning of the current period.」
The Brazilian and Turkish M&A subsidiaries contributed to results from the beginning of the fiscal year, and the expansion of the overseas business following the acquisitions materialized as an increase in consolidated sales value. However, results fell short of the initial plan due to activity restrictions and other measures related to the pandemic at overseas sites. - FY2022-Q3AdvancedAnnual report
「In the Home & Personal Care business, the goodwill related to the business combinations with Santel S.A. and Elier International Turkey A.S., completed during the first quarter of the previous consolidated fiscal year, had been calculated provisionally because the purchase price allocation was not complete. The purchase price allocation was completed at the end of the previous consolidated fiscal year, finalizing the provisional accounting treatment, and the amount of goodwill was therefore revised. As a result, the goodwill recognized amounted to ¥22,203 million.」
For the business combinations in Brazil and Turkey, the purchase price allocation was finalized at the end of the previous consolidated fiscal year, confirming goodwill of ¥22,203 million. - FY2022-Q2AdvancedAnnual report
「For the overseas business as a whole, sales volume and value both exceeded the same quarter of the previous year, partly because the results of the Brazilian and Turkish subsidiaries, which had been included in the scope of consolidation since the end of the first quarter of the previous year, contributed from the beginning of the current period.」
The results of the acquired Brazilian and Turkish subsidiaries contributed from the beginning of the current period, causing sales volume and value for the overseas business as a whole to exceed the same period of the previous year. - FY2022-Q1AdvancedAnnual report
「For the overseas business as a whole, sales volume and value both exceeded the same quarter of the previous year, partly because the results of the Brazilian and Turkish subsidiaries, which had been included in the scope of consolidation since the end of the first quarter of the previous year, contributed from the beginning of the current first quarter.」
The results of Brazil's Santel and the Turkish subsidiary contributed from the beginning of the quarter, causing sales volume and value in the overseas business to exceed the same period of the previous year. The contribution of the businesses following their acquisition is approaching a full-year basis. - FY2021-Q2AdvancedAnnual report
「The inclusion of Brazil's Santel and Turkey's Elier International Turkey in the scope of consolidation also contributed to increases in overseas sales and profit. Sales at both subsidiaries remained firm.」
Following the consolidation of the Turkish and Brazilian hygiene-products manufacturers, sales at both companies remained firm and contributed to increases in overseas sales and profit. - FY2021-Q1AdvancedAnnual report
「Following completion of the acquisition dated 29 May 2020, Uzen, a Turkish hygiene-products manufacturer, has been included in the scope of consolidation. Following completion of the acquisition through H&PC Brazil dated 29 June 2020, Santel, a Brazilian hygiene-products manufacturer that became its subsidiary, has also been included in the scope of consolidation.」
Uzen in Turkey was acquired on 29 May and Santel in Brazil on 29 June, and both companies became consolidated subsidiaries. The company holds 100% of the voting rights in Uzen and an indirect 51% interest in Santel. - FY2020First statedAnnual report
「Brazil and Turkey, where the company announced M&A involving hygiene-products manufacturers in February 2020, are expected to see steady growth in their domestic hygiene-products markets. In addition, the company will consider expanding from Brazil into South America as a whole and southern Africa, while developing export sales from Turkey to MENA (the Middle East and North Africa), Russia and surrounding countries, with the aim of optimizing its business portfolio to enable sustainable growth by expanding operations in areas with high growth potential.」
The expansion of the overseas H&PC business into new regions and M&A were identified as new specific measures for the first time. The acquisition of all shares in Turkey's Uzen A.S. was completed on 29 May 2020, while the planned acquisition of Brazil's Santel S.A. was disclosed.