Investment in Italian pump manufacturer ZENIT INTERNATIONAL S.P.A.
First written in FY2023-Q2. 2 of 9 entries say "Advanced", first in FY2023. Latest entry: FY2026.
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- FY2026Impairment loss recognized after conversion into a wholly owned subsidiaryAnnual report
「At ZENIT INTERNATIONAL S.P.A., we revised the business plan and conducted an impairment test because the earnings initially anticipated were no longer expected to be secured due to factors including the prolonged war in Ukraine and the cooling Chinese market, as well as plans for substantial new capital investment to improve productivity and further expand market share globally. As a result, impairment losses of ¥3,117 million on goodwill and ¥899 million on customer-related assets were recorded.」
While pursuing cooperation and expansion following ZENIT's conversion into a wholly owned subsidiary, the company recorded impairment losses on goodwill and customer-related assets in connection with a revision of the business plan. - FY2026-H1Commencement of consolidated profit and loss reporting after conversion into a wholly owned subsidiaryAnnual report
「Although the income statement for the region was not included in the scope of consolidation in the corresponding interim consolidated fiscal period of the previous year, demand for construction pumps in the infrastructure market, including tunnel construction, increased during the current interim consolidated fiscal period. However, overall revenue remained weak, partly because of the downturn in the German construction market.」
Following ZENIT's conversion into a wholly owned subsidiary, Europe's income statement was included in the consolidated results from the current interim period, and European performance reflecting increased demand for construction pumps and the downturn in the German construction market was disclosed. - FY2025-H1AchievedAnnual report
「Voting rights held immediately before the business combination 36% Voting rights additionally acquired on the business combination date 64% Voting rights after acquisition 100%」
For ZENIT INTERNATIONAL S.P.A., the company additionally acquired a 64% interest on top of its existing 36% interest and completed its conversion into a wholly owned subsidiary with 100% of the voting rights on 15 July 2024. It also recorded a gain on step acquisition of ¥1,721 million and goodwill of ¥4,143 million. - FY2024AdvancedAnnual report
「By exercising the share acquisition rights attached to these bonds, scheduled for July this year, we will further accelerate the initiatives described above and seek to enhance corporate value by linking them to the expansion of our long-term growth and earnings foundations. Shares acquired 249,960 shares Acquisition price €6,000,000 Ownership interest after acquisition 48.49%」
For ZENIT, the company plans to acquire an additional 249,960 shares through the exercise of share acquisition rights scheduled for July 2024, raising its ownership interest to 48.49%. - FY2024-Q3Continued recognition of equity-method investment incomeAnnual report
「Share of profit of investments accounted for using the equity method － 85」
Following the investment in ZENIT INTERNATIONAL S.P.A., the company recorded ¥85 million in share of profit of investments accounted for using the equity method as non-operating income. - FY2024-Q2Recognition of equity-method investment gainAnnual report
「Share of profit of investments accounted for using the equity method － 90」
Following the investment in ZENIT INTERNATIONAL S.P.A., the company recorded ¥90 million in share of profit of investments accounted for using the equity method as non-operating income. - FY2023AdvancedAnnual report
「On 30 September 2022, we acquired 36% of the issued shares of ZENIT INTERNATIONAL S.P.A., an Italian pump manufacturer, and made it an equity-method affiliate.」
The annual report confirms the acquisition of a 36% interest in ZENIT INTERNATIONAL S.P.A. on 30 September 2022 and its conversion into an equity-method affiliate. - FY2023-Q3RestatedAnnual report
「In addition, we identified strengthening our management foundation through our global strategy as the most important management priority of the group. To address diverse needs around the world, we invested in ZENIT INTERNATIONAL S.P.A., an Italian pump manufacturer with strengths in the capital equipment industry.」
The company continues to disclose its investment in ZENIT INTERNATIONAL S.P.A. and its positioning as a means of strengthening the management foundation through its global strategy. - FY2023-Q2First statedAnnual report
「As previously announced, we identified strengthening our management foundation through our global strategy as the most important management priority of the group. To address diverse needs around the world, we invested in ZENIT INTERNATIONAL S.P.A., an Italian pump manufacturer with strengths in the capital equipment industry.」
The company invested in an Italian pump manufacturer with strengths in the capital equipment industry to strengthen its management, growth and earnings foundations through its global strategy.