Entry into the Chinese DES market through the acquisition of Essen Technology
First written in FY2019-Q3. 2 of 3 entries say "Advanced", first in FY2019. Latest entry: FY2020-Q3.
No other company in this theme has enough history to compare yet.
- FY2020-Q3AdvancedAnnual report
「At the end of the third quarter of the previous consolidated fiscal year, provisional accounting treatment had been applied because adjustments to the acquisition consideration and the allocation of the acquisition consideration based on the fair values of identifiable assets and liabilities had not been completed. These matters were finalized during the third quarter of the current consolidated fiscal year. The main revisions were an increase of ¥4,226 million in intangible assets, an increase of ¥634 million in non-current liabilities, and a decrease of ¥3,384 million in goodwill.」
The provisional purchase price allocation for the Essen Technology acquisition was finalized in the third quarter, and the amounts of intangible assets, non-current liabilities and goodwill were revised. - FY2019AdvancedAnnual report
「China's catheter market is expected to continue growing at an annual rate of more than 10% and become the world's largest market in several years. The acquisition was carried out to enter China's market, where locally produced products are becoming increasingly important, with Essen Technology's DES products and to expand the catheter business.」
On 29 December 2018, the Company acquired 100% of Essen Technology, entering China's market for locally produced DES products. The acquisition consideration was ¥14,855 million, giving concrete form to the aim of expanding the business following the acquisition. - FY2019-Q3First statedAnnual report
「China's catheter market is expected to continue growing at an annual rate of more than 10% and become the world's largest market in several years. The acquisition was carried out to enter China's market, where locally produced products are becoming increasingly important, with Essen Technology's DES products and to expand the catheter business.」
On 29 December 2018, the Company acquired 易生科技（北京）有限公司 (Essen Technology (Beijing) Co., Ltd.), a company engaged in the development, production and sale of drug-eluting coronary stents (DES), thereby entering the Chinese market for DES. The acquisition consideration was ¥14,372 million, and the percentage of voting equity interests acquired was 100%.