Expansion into the electronics and advanced ceramics fields through the acquisition of a high-performance ceramics business from Kao Corporation
First written in FY2018-Q2. 8 of 10 entries say "Restated". Latest entry: FY2020.
No other company in this theme has enough history to compare yet.
- FY2020WorsenedAnnual report
「The company operated a new business involving the manufacture and sale of high-performance ceramics, recording goodwill based on the excess earning power assumed at the time of the business acquisition. However, during the current fiscal year, it became clear that the earnings anticipated in the original business plan could not be expected. The company therefore reduced the carrying amount to the recoverable amount and recorded the resulting reduction as an impairment loss under extraordinary losses.」
It became clear that the high-performance ceramics business acquired from Kao Corporation could not generate earnings as initially planned, and the company recorded an impairment loss of ¥85 million on goodwill and other assets. - FY2020-Q3RestatedAnnual report
「Goodwill amortization ¥25.499 million」
The company recorded ¥25.499 million in goodwill amortization for the cumulative third-quarter period in connection with the acquisition of Kao Corporation’s high-performance ceramics business, and continues its accounting recognition following the acquisition. - FY2020-Q2RestatedAnnual report
「Goodwill amortization ¥17 million」
The company recorded ¥17 million in goodwill amortization for the cumulative second-quarter period in connection with the acquisition of Kao Corporation’s high-performance ceramics business, and continues its accounting recognition following the acquisition. - FY2020-Q1RestatedAnnual report
「Goodwill amortization ¥8.499 million」
The company recorded ¥8.499 million in goodwill amortization for the first quarter in connection with the acquisition of Kao Corporation’s high-performance ceramics business, and continues its accounting recognition following the acquisition. - FY2019-Q3RestatedAnnual report
「Goodwill amortization ¥8.499 million ¥25.499 million」
The company recorded ¥25.499 million in goodwill amortization for the cumulative third-quarter period in connection with the acquisition of Kao Corporation’s high-performance ceramics business, and continues its accounting recognition following the acquisition. - FY2019-Q2RestatedAnnual report
「Goodwill amortization ¥17 million」
The company recorded ¥17 million in goodwill amortization for the cumulative second-quarter period in connection with the acquisition of Kao Corporation’s high-performance ceramics business, and continues its accounting recognition following the acquisition. - FY2019-Q1RestatedAnnual report
「Goodwill amortization — ¥8.499 million」
The company recorded ¥8.499 million in goodwill amortization for the first quarter in connection with the acquisition of Kao Corporation’s high-performance ceramics business, and continues to recognize its accounting impact following the acquisition. - FY2018RestatedAnnual report
「We manufacture and sell new ceramics and refractories, among other products. Based on management's judgment that more aggressive expansion in the electronics and new ceramics fields, which have recently received favorable feedback from users, is essential to our growth, we decided to acquire the relevant business held by Kao Corporation.」
The high-performance ceramics business acquired from Kao Corporation continues to be recognized as part of the consolidated group, and the ¥170 million of goodwill is being amortized over 5 years. - FY2018-Q3RestatedAnnual report
「In the Refractories segment, goodwill of ¥170 million was generated through the acquisition of the business from Kao Corporation.」
The goodwill arising from the acquisition of Kao Corporation’s high-performance ceramics business has also been confirmed in the segment information, and its accounting recognition has continued following the acquisition. - FY2018-Q2First statedAnnual report
「At a meeting of the Board of Directors held on 31 August 2017, the company resolved to acquire from Kao Corporation the manufacturing and sales business for high-performance ceramics, and entered into a business transfer agreement dated 31 August 2017, with 29 September 2017 as the transfer date. Consideration for the acquisition: cash, including unpaid amounts, of ¥268.467 million. Amount of goodwill recognized: ¥170 million.」
Regarding Kao Corporation’s high-performance ceramics manufacturing and sales business, the transaction was approved and contracted on 31 August 2017, and the business acquisition was completed on 29 September. The company positioned aggressive expansion in the electronics and advanced ceramics fields as essential for growth, recording consideration of ¥268.467 million and goodwill of ¥170 million.