Strengthening environmental initiatives, overseas collaboration and governance through the conversion of Isolite Industry into a wholly owned subsidiary
First written in FY2022-Q3. 1 of 2 entries say "Achieved", first in FY2022. Latest entry: FY2022.
No other company in this theme has enough history to compare yet.
- FY2022AchievedAnnual report
「Subsequently, pursuant to Article 179, paragraph 1 of the Companies Act, the company made a demand for the sale of shares and made the Target Company a wholly owned subsidiary on 31 March 2022.」
The conversion of イソライト工業株式会社 into a wholly owned subsidiary was completed on 31 March 2022 through the tender offer and demand for the sale of shares. The company cited the integration of refractory and insulation-material technologies, overseas coordination, responses to environmental issues and unified governance as synergies. - FY2022-Q3First statedAnnual report
「For the purpose of making our consolidated subsidiary イソライト工業株式会社, hereinafter the "Target Company," a wholly owned subsidiary, the company resolved at a Board of Directors meeting held on 23 December 2021 to acquire, through a tender offer under the Financial Instruments and Exchange Act, the common shares of the Target Company listed on the First Section of the Tokyo Stock Exchange, hereinafter the "Tender Offer," and conducted the Tender Offer with the purchase period running from 24 December 2021 to 17 February 2022.」
The tender offer to make イソライト工業 a wholly owned subsidiary began on 24 December 2021. The offer price was ¥1,200 per common share, the planned number of shares to be purchased was 10,462,154, and the purchase price was ¥12,554 million, with the offer period ending on 17 February 2022. The company cited stronger responses to environmental issues such as carbon neutrality, business expansion through closer coordination of overseas operations, establishment of an integrated governance structure and lower costs of maintaining the listing as benefits and synergies.