Strengthening the European Market Business Foundation Through the Acquisition of Zapi and Trezeta
First written in FY2022-Q3. 1 of 4 entries say "Achieved", first in FY2022. Latest entry: FY2024-Q3.
1 other company's latest entry also says "Restated".
- FY2024-Q3RestatedAnnual report
「Following the finalization of the provisional accounting treatment, a material revision to the initial purchase price allocation has been reflected in the comparative information included in the quarterly consolidated financial statements for the nine months ended the third quarter. As a result, goodwill at the end of the previous consolidated fiscal year decreased from ¥1,471 million by ¥1,046 million, to ¥425 million.」
For the business combination of Zapi and Trezeta, the accounting revision resulting from the finalization of the provisional treatment, which reduced goodwill from ¥1,471 million to ¥425 million, has been restated in the comparative information. - FY2023AdvancedAnnual report
「In the business combination with Zapi Industrie Chimiche S.p.A. and Trezeta Immobiliare S.r.L. completed on 31 December 2021, provisional accounting treatment had been applied in the previous consolidated fiscal year, but was finalized during the current consolidated fiscal year. As a result, goodwill provisionally measured at ¥1,471 million decreased by ¥1,046 million upon finalization of the accounting treatment, to ¥425 million.」
The provisional purchase price allocation for the business combination of Zapi and Trezeta was finalized, and goodwill was revised from ¥1,471 million to ¥425 million. - FY2022AchievedAnnual report
「Zapi Industrie Chimiche S.p.A. and Trezeta Immobiliare S.r.L. have been included in the scope of consolidation from the current consolidated fiscal year as a result of the newly acquired shares and equity interest.」
The acquisition of 80% of Zapi's shares and 100% of Trezeta's equity interest was completed, and both companies became consolidated subsidiaries from the current fiscal year. - FY2022-Q3First statedAnnual report
「At a meeting of its Board of Directors held on 22 December 2021, the company resolved to acquire the shares of Zapi Industrie Chimiche S.p.A., which manufactures and sells insecticides and other products in the European market, and the equity interest in Trezeta Immobiliare S.r.L. (hereinafter, “Trezeta”), and make both companies subsidiaries. The company entered into a share transfer agreement on the same day.」
The company decided to make Zapi, a European manufacturer and seller of insecticides and other products, and Trezeta, which owns the land and buildings of Zapi's plant, subsidiaries. Zapi has strong sales capabilities among Italian gardening retailers, and the acquisition is intended to strengthen the European business platform through synergies with the company's product development capabilities. Following the acquisition, the ownership interests are expected to be 80.0% in Zapi and 100.0% in Trezeta. The acquisition is scheduled for February 2022, and both companies are expected to become consolidated subsidiaries from the fourth quarter of the fiscal year ending March 2022.