Expansion of the paper bag business through the acquisition of 柳沢製袋株式会社 as a subsidiary
First written in FY2019. 6 of 9 entries say "Restated". Latest entry: FY2024.
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- FY2024RestatedAnnual report
「Packaging Functional Materials Business: Manufacture and sale of films, paper bag products, and other products, mainly those with packaging functions (Main affiliated companies) The Company, 柳沢製袋㈱, CORE PAX(M)SDN.BHD., and ENCORE LAMI SDN.BHD.」
The subsidiary structure and business positioning of the Packaging Functional Materials Business, including 柳沢製袋, continue to be maintained. - FY2021RestatedAnnual report
「In the heavy-duty packaging bag segment, domestic revenue from synthetic resins and chemicals declined because of the impact of COVID-19, but revenue increased due to sales from 柳沢製袋株式会社, which became a consolidated subsidiary in the second quarter of the previous fiscal year.」
The sales contribution from 柳沢製袋株式会社, which was made a wholly owned subsidiary, continues to be cited as a factor behind higher full-year revenue in the domestic heavy-duty packaging bag segment. - FY2021-Q3RestatedAnnual report
「As a result, revenue for the third quarter cumulative consolidated period was ¥13,931 million, down 3.9% year on year. Higher revenue from film products and the revenue contribution from 柳沢製袋株式会社, which became a consolidated subsidiary in the second quarter of the previous fiscal year, was offset by lower revenue from the overseas business, domestic heavy-duty packaging bag products, and pulp-molded products.」
The revenue contribution from 柳沢製袋株式会社, which was made a wholly owned subsidiary, continues to be cited as a factor affecting results for the third quarter cumulative consolidated period. - FY2021-Q2RestatedAnnual report
「As a result, revenue for the second quarter cumulative consolidated period was ¥9,082 million, down 2.6% year on year. Higher revenue from film products and resin-molded products, as well as the revenue contribution from 柳沢製袋株式会社, which became a consolidated subsidiary in the second quarter of the previous fiscal year, was offset by lower revenue from the overseas business, domestic heavy-duty packaging bag products, pulp-molded products, and corrugated products.」
The revenue contribution from 柳沢製袋株式会社, which was made a wholly owned subsidiary, continues to be cited as a factor affecting results for the second quarter cumulative consolidated period. - FY2021-Q1RestatedAnnual report
「As a result, revenue for the first quarter cumulative consolidated period was ¥4,680 million, up 3.9% year on year. This reflected higher revenue from film products and resin-molded products, as well as the impact of 柳沢製袋株式会社, which became a consolidated subsidiary last year, despite lower revenue from the overseas business and pulp-molded products.」
The impact of 柳沢製袋株式会社, which was made a wholly owned subsidiary, continues to be confirmed as a factor behind higher revenue. - FY2020-Q3RestatedAnnual report
「柳沢製袋株式会社, which joined the Group in the first quarter, is also operating smoothly.」
柳沢製袋株式会社, which was made a wholly owned subsidiary, is reported to be operating smoothly, indicating that the post-acquisition sales contribution and business operations confirmed in the previous quarter are continuing. - FY2020-Q2AdvancedAnnual report
「Under the agreement, the Company acquired 55% of the company's shares on 31 May 2019 and treated it as a consolidated subsidiary as of the end of the first quarter. It subsequently acquired an additional 45% of the company's shares on 31 July 2019 and made it a wholly owned subsidiary. In the heavy-duty packaging bag segment, domestic revenue increased as chemicals and other products in existing fields remained firm, and sales contributed by 柳沢製袋株式会社, acquired through M&A, also contributed to the increase.」
After acquiring 55% of the shares of 柳沢製袋株式会社, the Company acquired an additional 45% and made it a wholly owned subsidiary. The company's sales contribution was also cited as a factor behind higher revenue in the heavy-duty packaging bag segment during the quarter. - FY2020-Q1AdvancedAnnual report
「Under the agreement, the Company acquired 55% of the company's shares on 31 May 2019 and made it a subsidiary. The Company subsequently acquired additional shares in 柳沢製袋株式会社 on 31 July 2019. As a result, the Company's voting rights in 柳沢製袋株式会社 reached 100%.」
After acquiring 55% of the voting rights in 柳沢製袋株式会社 on 31 May 2019, the Company acquired the remaining 45% on 31 July 2019 and made it a wholly owned subsidiary. The M&A intended to expand the paper bag business progressed through the additional acquisition. - FY2019First statedAnnual report
「At a meeting of the Board of Directors held on 24 May 2019, the Company resolved to enter into a share transfer agreement to acquire 55% of the issued shares of 柳沢製袋株式会社 and make it a subsidiary, and executed the agreement on the same date. The share acquisition procedures were completed on 31 May 2019. Through the acquisition of shares in 柳沢製袋株式会社 and its incorporation as a subsidiary, the Company aims to expand its paper bag business, with expected benefits including higher sales, improved production efficiency, lower transportation costs, shorter delivery times, improved customer service, synergies in business continuity planning (BCP), and diversified procurement and lower costs.」
On 31 May 2019, the Company acquired 55% of the voting rights in 柳沢製袋株式会社 and made it a subsidiary. The stated reasons for the acquisition included expansion of the paper bag business, higher sales and production efficiency, lower transportation costs, improved customer service, and BCP-related synergies.