Reorganization of the China-based companies and centralized management of the development and administration functions
First written in FY2021. 5 of 6 entries say "Advanced", first in FY2024-Q2. Latest entry: FY2026.
1 other company's latest entry also says "Advanced".
- FY2026AdvancedAnnual report
「On 5 February 2026, we acquired all equity interests in 莫莱斯柯花野圧鋳塗料（上海）有限公司, making it a wholly owned subsidiary. After its tax clearance and liquidation procedures are completed, the company is scheduled to be absorbed by 莫莱斯柯（浙江）功能材料有限公司.」
The Shanghai subsidiary was made wholly owned, and the reorganization of the China business was made concrete, with the subsidiary to be absorbed by the Zhejiang subsidiary after completion of the liquidation procedures. - 2026-05-01AdvancedGeneral Meetings of Shareholders
「Our former consolidated subsidiary 無錫德松科技有限公司 was absorbed in a merger effective 14 February 2025, with 莫莱斯柯(浙江)功能材料有限公司 as the surviving company, and has therefore been excluded from the scope of consolidation.」
The completion of the absorption merger of 無錫徳松 into its Zhejiang subsidiary was reconfirmed, indicating progress in restructuring the Chinese subsidiaries. - FY2026-H1AdvancedAnnual report
「Although sales of specialty lubricants such as vacuum oils and cutting fluids increased, sales of die-casting lubricants declined as operating rates at Japanese automobile manufacturers fell, leaving sales at approximately the same level as in the previous year. Hot-melt adhesives recorded lower revenue due to reduced demand from major customers. As a result, sales to external customers in this segment were ¥1,767 million, down 0.2% year on year, while segment profit increased 170.4% year on year to ¥139 million as rationalization following the reorganization of the Chinese subsidiaries progressed.」
As rationalization following the reorganization of the Chinese subsidiaries progressed, segment profit increased 170.4% despite a 0.2% year-on-year decline in sales. - FY2024-Q3AdvancedAnnual report
「Additional voting rights acquired on the business combination date: 50.0%; voting rights after the acquisition: 100.0%. At a Board of Directors meeting held on 12 October 2023, the company resolved to merge its consolidated subsidiaries 莫莱斯柯（浙江）功能材料有限公司, 无锡德松科技有限公司 and 莫莱斯柯花野圧鋳塗料（上海）有限公司, with 莫莱斯柯（浙江）功能材料有限公司 as the surviving company.」
Following the additional acquisition of 无锡德松, the voting interest reached 100% and the company was made a wholly owned subsidiary. In addition, the absorption merger of the 3 Chinese companies, with the Zhejiang subsidiary as the surviving company, was made concrete and scheduled for June 2024. - FY2024-Q2AdvancedAnnual report
「Through this merger, we will accelerate management decision-making in China, where growth is expected in various fields, while improving production capacity and efficiency by consolidating production sites for specialty lubricants and improving the efficiency of administrative operations at our Chinese subsidiaries.」
The policy for reorganizing the Chinese companies was made concrete as a plan under which the Haining subsidiary would be the surviving company and absorb the Wuxi Desong and Shanghai subsidiaries. The business combination is scheduled for June 2024. - FY2021First statedAnnual report
「In China, the post-pandemic market recovery has been remarkable, and solid economic growth is expected from 2021 onward. Against this backdrop, we will pursue further growth by reorganising our companies in China and centralising the management of our development and administrative functions, thereby promoting a rapid business expansion that addresses local needs.」
For the China business, new operating measures involving the reorganization of the respective companies and centralized management of development and administrative functions have been explicitly identified.