Entry into and expansion of the refractory materials market through the establishment of an Indian joint venture
First written in FY2019-Q2. 2 of 5 entries say "Advanced", first in FY2020-Q2. Latest entry: FY2024.
No other company in this theme has enough history to compare yet.
- FY2024ReframedAnnual report
「The Company resolved to transfer the manufacturing equipment held by SG Shinagawa Refractories India Pvt. Ltd. to GNO and change the business model from a manufacturing and sales joint venture to a royalty business based on technology licensing to GNO. It also resolved to make SG Shinagawa Refractories India Pvt. Ltd. the business strategy planning and sales base for further expansion of the Company’s Indian business, and to additionally acquire its shares and make it a wholly owned subsidiary.」
The Indian business was restructured from a manufacturing and sales joint venture into a royalty business based on technology licensing, with the joint venture made a wholly owned subsidiary and used as a sales and strategic base. - FY2024-Q3AdvancedAnnual report
「The voting rights ratio represented by the additionally acquired shares was 49%, and through the transaction SG Shinagawa Refractories India Pvt. Ltd. became the Company’s wholly owned subsidiary.」
On 30 November 2023, the Company additionally acquired shares in the Indian joint venture and acquired 49% of the voting rights, making it a wholly owned subsidiary. Expansion into India’s refractories market had progressed to the stage of making the joint venture a wholly owned subsidiary. - FY2020-Q3RestatedAnnual report
「During the second quarter, SG Shinagawa Refractories India Pvt. Ltd. was included as a consolidated subsidiary following the establishment of the subsidiary (joint venture).」
The Company reiterated that the Indian joint venture was established and included as a consolidated subsidiary during the second quarter. - FY2020-Q2AdvancedAnnual report
「During the second quarter, SG Shinagawa Refractories India Pvt. Ltd. was included as a consolidated subsidiary following the establishment of the subsidiary (joint venture).」
The previously planned Indian joint venture was established, and SG Shinagawa Refractories India Pvt. Ltd. was included as a consolidated subsidiary. Entry into and expansion of the Indian refractories market had reached a concrete stage. - FY2019-Q2First statedAnnual report
「At a meeting of the Board of Directors held on 8 November 2018, the Company resolved to establish a joint venture, SG Shinagawa Refractories India LLP, with Grindwell Norton Ltd. (India; hereinafter, “GNO”). The joint venture will seek to expand the business by responding to market needs through the prompt provision of products and services in India’s steadily expanding refractories market. Capital will be INR 230 million (approximately ¥400 million), the establishment date was scheduled for December 2018, and the ownership ratio will be 51% for the Company and 49% for GNO.」
The Company disclosed for the first time its plan to establish a joint venture with GNO targeting India’s refractories market and manufacture and sell refractory products. The planned establishment date, capital, ownership ratios and means of expanding the business through market growth have been specified.