Acquisition of the Chemical Products Business of the Toyo Tire Group
First written in FY2018-Q1. 2 of 6 entries say "Cited as achieved", first in FY2019-Q2. Latest entry: FY2020.
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- FY2020AdvancedAnnual report
「During the current fiscal year, we newly acquired the truck and bus air spring business from the TOYO TIRE Group. It uses the same manufacturing methods as the existing railway air spring business, and synergies are expected in technology and product development, materials procurement and manufacturing.」
Following the acquisition of the Chemical Products business completed in the previous fiscal year, the truck and bus air spring business was acquired from the TOYO TIRE Group during the current period, with synergies expected with the existing railway air spring business. - FY2019AdvancedAnnual report
「As a result, revenue was ¥1.322 billion and segment profit was ¥531 million. The Chemical Products business, comprising Nitta Chemical Industrial Co., Ltd. and its subsidiaries, was included in the consolidated financial statements for the previous fiscal year only through its balance sheet and therefore was not included in the results for the previous fiscal year.」
For the Chemical Products business, including Nitta Chemical Industrial Co., Ltd., acquired in the previous fiscal year, revenue of ¥1.322 billion and segment profit of ¥531 million were recorded for the current period, presenting the business's post-acquisition results on a full-year basis. - FY2019-Q3Cited as achievedAnnual report
「The impact on profit or loss for the nine months ended December 31 of Nitta Chemical Industrial Co., Ltd., whose shares were acquired from the TOYO TIRE Co., Ltd. Group in the previous fiscal year, is as stated under the Chemical Products business in the segment results.」
The acquisition of the Chemical Products business from the TOYO TIRE Co., Ltd. Group, completed in the previous fiscal year, is cited as a past event, and its impact on profit or loss for the Chemical Products business in the current period is explained. - FY2019-Q2Cited as achievedAnnual report
「The impact on profit or loss for the six months ended September 30 of Nitta Chemical Industrial Co., Ltd., whose shares were acquired from the Toyo Tire & Rubber Co., Ltd. Group in the previous fiscal year, is as stated under the Chemical Products business in the segment results.」
The acquisition of the Chemical Products business from the Toyo Tire & Rubber Co., Ltd. Group, completed in the previous fiscal year, is cited as a past event, and its impact on profit or loss for the Chemical Products business in the current period is explained. - FY2018-Q3AchievedAnnual report
「Based on a resolution of the Board of Directors dated 28 July 2017, we made Nitta Chemical Industrial Co., Ltd. a subsidiary by acquiring its shares on 27 December 2017. The company had been established to assume the Chemical Products business of the Toyo Tire & Rubber Co., Ltd. Group.」
The share acquisition was completed on 27 December 2017, making Nitta Chemical Industrial Co., Ltd. a subsidiary. The acquired voting interest was 100%, and the estimated acquisition consideration was ¥3.727 billion. Nitta Chemical Industrial Co., Ltd. and its 3 subsidiaries were included in the scope of consolidation. - FY2018-Q1First statedAnnual report
「At a meeting of the Board of Directors held on 28 July 2017, we resolved to acquire the Chemical Products business of the Toyo Tire & Rubber Co., Ltd. Group, excluding the architectural seismic-isolation rubber business. We entered into a share transfer agreement to acquire 100% of the shares of a new company to be established by Toyo Tire Chemical Products Co., Ltd., a subsidiary of Toyo Tire & Rubber Co., Ltd., after transferring the target business to the new company through a company split and other means.」
The acquisition was approved on 28 July 2017, and an agreement was signed to acquire 100% of the shares of the new company that would assume the target business. The share transfer was scheduled for 27 December 2017, with estimated acquisition consideration of approximately ¥3.7 billion.