M&A due diligence and related expenses
First written in FY2018. 2 of 7 entries say "Advanced", first in FY2021-Q1. Latest entry: FY2023.
The whole theme swung hardest in 2024: 40 of 92 companies on the "Worse" side.
- FY2023WorsenedAnnual report
「However, because performance has fallen below the business plan prepared at the time of the acquisition, the company revised its medium-term business plan. As a result, goodwill was amortized in full because the excess earning power anticipated at the time of the acquisition could no longer be expected. In addition, because future cash flows from customer-related assets could no longer be expected, the company decided to record the entire carrying amount of those assets at the end of the current consolidated fiscal year as an impairment loss included in special losses.」
Following the acquisition of カイコー, performance fell below the original business plan, resulting in impairment treatment for goodwill and customer-related assets associated with the acquisition. The impairment loss was ¥53.327 million. - FY2021RestatedAnnual report
「Under the relevant share transfer agreement, on 29 January 2021 the company acquired all shares of カイコー and made it a consolidated subsidiary. The consideration was ¥100.000 million in cash, and acquisition-related expenses were ¥25.500 million, comprising advisory fees and other charges.」
The annual disclosure reconfirms the consideration paid for the acquisition and consolidation of all shares of カイコー, acquisition-related expenses and 8 months of consolidated results. - FY2021-Q3RestatedAnnual report
「In the plant business, the consolidation of 株式会社カイコー as a subsidiary and the recognition of revenue from maintenance services resulted in plant business revenue of ¥112.618 million, up 1,842.2% year on year. The recording of M&A-related costs for the acquisition of shares resulted in a segment loss of ¥38.613 million, compared with a segment loss of ¥27.593 million in the same period of the previous year.」
The company continues to disclose the impact on the plant business following the acquisition and consolidation of カイコー as a subsidiary, as well as the recognition of M&A-related expenses. No new acquisition or other completion is disclosed. - FY2021-Q2AdvancedAnnual report
「During the second quarter of the current consolidated fiscal year, カイコー became a consolidated subsidiary through the acquisition of its shares, and the company has included it in the scope of consolidation from the second quarter of the current consolidated fiscal year.」
After acquiring カイコー, the company incorporated it into the financial statements as a consolidated subsidiary from the second quarter of the current fiscal year and consolidated its results for the period from 1 February to 31 March 2021. The acquisition cost was ¥100.000 million, acquisition-related expenses were ¥25.500 million, and goodwill was ¥38.661 million. - FY2021-Q1AdvancedAnnual report
「Under the relevant share transfer agreement, on 29 January 2021 the company acquired all shares of カイコー and made it a consolidated subsidiary. Voting rights acquired 100.0%」
Following the financial due diligence related to M&A disclosed in the previous fiscal year, the company acquired all shares of カイコー and made it a consolidated subsidiary. The consideration was paid in cash. Acquisition-related expenses were ¥25.500 million, comprising advisory fees and other costs. The acquisition price and goodwill were disclosed as undisclosed or undetermined due to confidentiality obligations and the lack of finalization. - FY2019DroppedAnnual report
「Fees for non-audit services (¥ thousand) －」
For the commissioned financial due diligence related to M&A disclosed in the previous fiscal year, non-audit fees were zero in the current fiscal year, and there is no disclosure concerning the execution or continuation of the M&A. - FY2018First statedAnnual report
「On the profit side, because recruitment and training expenses increased with the expansion of manufacturing personnel and other staff, and M&A-related expenses and new listing-related expenses were incurred, the non-audit services for which the company paid fees to its accounting auditor consisted of commissioned financial due diligence related to M&A.」
This is the first disclosure that financial due diligence related to M&A was commissioned and that M&A-related expenses were incurred. It does not disclose the execution or completion of an acquisition or the details of a specific transaction.