Strengthening the integrated production system and forging business in the Noto region through the acquisition of Hakui Maruzen as a subsidiary
First written in FY2019-Q2. 2 of 6 entries say "Advanced", first in FY2019-Q3. Latest entry: FY2022-Q3.
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- FY2022-Q3RestatedAnnual report
「The purchase price allocation for Taira Forging Co., Ltd., acquired at the end of the first-quarter consolidated accounting period, was accounted for provisionally in the first-quarter consolidated accounting period and finalized in the second-quarter consolidated accounting period.」
The third-quarter report also confirms that the purchase price allocation for the business combination involving Taira Forging Co., Ltd. was finalized. Goodwill increased from ¥1,667 million to ¥2,143 million. - FY2022-Q2AdvancedAnnual report
「The purchase price allocation for Taira Forging Co., Ltd., acquired at the end of the first-quarter consolidated accounting period, was accounted for provisionally in the first-quarter consolidated accounting period and finalized in the second-quarter consolidated accounting period.」
The purchase price allocation for the business combination involving Taira Forging Co., Ltd. was finalized, and goodwill increased from the provisional amount of ¥1,667 million to ¥2,143 million. - FY2022-Q1RestatedAnnual report
「On 28 June 2021, the Company additionally acquired shares in Taira Forging Co., Ltd., formerly an equity-method affiliate, and included it within the scope of consolidation.」
The transaction involving Taira Forging Co., Ltd., through which the Company raised its voting rights from 46.67% to 56.67% and made it a subsidiary, was reflected in the consolidated scope for the first quarter. The purpose of the acquisition was to strengthen the integrated production system and competitiveness in the Noto region and the forging business. - FY2021AchievedAnnual report
「Voting rights acquired on the business combination date 10.00% Voting rights after acquisition 56.67%」
Regarding Taira Forging Co., Ltd., the Company acquired an additional 10% on 28 June 2021, raising its voting rights from 46.67% to 56.67% and making the company a subsidiary. The purpose was to strengthen the integrated production system in the Noto region and the forging business. - FY2019-Q3AdvancedAnnual report
「Hakui Maruzen Co., Ltd. became a subsidiary as a result of the Company’s acquisition of its shares. However, taking into account the impact on the consolidated financial statements, the Company treats it as an unconsolidated subsidiary and includes it within the scope of the equity method. On 27 December 2018, the Company also entered into a share transfer agreement to transfer some of its shares in the company to a third party.」
The acquisition of Hakui Maruzen’s shares resulted in its becoming a subsidiary, while the Company included it within the scope of the equity method as an unconsolidated subsidiary and entered into an agreement to transfer some of its shares to a third party. - FY2019-Q2First statedAnnual report
「The purpose is to expand the business by strengthening the integrated production system and competitiveness for industrial machinery bearings in the Noto region of Ishikawa Prefecture, while continuing and strengthening the businesses involving oil-industry couplings and construction machinery components that leverage Hakui Maruzen’s forging technology. Business combination date: 1 October 2018 (share acquisition date); 1 October 2019 (scheduled date for additional share acquisition). Voting rights acquired: 90% on 1 October 2018; an additional 10% scheduled to be acquired on 1 October 2019. Consideration for acquisition: cash, ¥10,200 million.」
The Company acquired 90% of Hakui Maruzen’s voting rights for cash consideration of ¥10,200 million on 1 October 2018 and planned to acquire the remaining 10% on 1 October 2019. The purpose was to strengthen the integrated production system and competitiveness for industrial machinery bearings in the Noto region and to continue and strengthen the oil-industry coupling and construction machinery component businesses by leveraging the company’s forging technology.