Strengthening group management resources and technological synergies through the conversion of Oki Electric Cable Co., Ltd. into a wholly owned subsidiary
First written in FY2018-Q2. 2 of 5 entries say "Advanced", first in FY2018-Q3. Latest entry: FY2019-Q3.
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- FY2019-Q3RestatedAnnual report
「In the EMS business, the effect of newly consolidating OKI Electric Cable offset the decline in revenue in the Mechatronics Systems business. Net sales were approximately at the previous year’s level, at ¥299.3 billion, down ¥0.7 billion, or 0.2%, year on year.」
Reconfirmed that the effect of consolidating OKI Electric Cable in the previous year offset the decline in revenue in the Mechatronics Systems business. - FY2019-Q2RestatedAnnual report
「In the EMS business, the effect of newly consolidating OKI Electric Cable following the tender offer conducted in the previous year offset the decline in revenue in the Mechatronics Systems business. Net sales were approximately at the previous year’s level, at ¥193.6 billion, down ¥0.4 billion, or 0.2%, year on year.」
Described how the effect of newly consolidating OKI Electric Cable following the tender offer conducted in the previous year offset the decline in revenue in the Mechatronics Systems business. - FY2019-Q1AdvancedAnnual report
「Revenue was ¥15.6 billion, up ¥4.3 billion, or 38.2%, year on year, due to the consolidation of OKI Electric Cable and the effect of acquiring the printed circuit board business related to aerospace and space. Operating profit was ¥700 million, up ¥300 million year on year, due to higher sales volume.」
The consolidation of 沖電線株式会社 contributed to the performance of the EMS business. The text does not expressly state that the final procedures for making it a wholly owned subsidiary had been completed. - FY2018-Q3AdvancedAnnual report
「Voting rights ratio held immediately before the acquisition: 37.45% Voting rights ratio additionally acquired on the business combination date: 49.71% Voting rights ratio after the acquisition: 87.17% (Note) The company plans to make the acquired company a wholly owned subsidiary in the future through a share consolidation.」
On the business combination date of 25 December 2017, acquired an additional 49.71% interest in 沖電線株式会社, bringing the voting rights ratio to 87.17%. The company plans to complete the acquisition of all shares through a share consolidation in the future, so although the acquisition has been completed, the overall objective has not yet been achieved. - FY2018-Q2First statedAnnual report
「At a meeting of the Board of Directors held on 31 October 2017, the Company resolved to acquire the common shares of 沖電線株式会社, an equity-method affiliate of the Company, through a tender offer under the Financial Instruments and Exchange Act, with the aim of making the target company a wholly owned subsidiary of the Company.」
Disclosed plans to conduct a tender offer for 沖電線株式会社 from 1 November to 18 December 2017, over 32 business days, with the aim of making it a wholly owned subsidiary. The planned number of shares to be purchased was 2,303,009, with a minimum of 1,170,800 shares, at a purchase price of ¥3,650 per share and total purchase consideration of approximately ¥8.4 billion. The aim was to increase the ownership ratio from 37.28% before the tender offer to 100%. Expected benefits after making the company wholly owned included expanding sales and developing businesses through the mutual use of customer segments, technology and service integration, entering new fields by combining elemental technologies, reducing costs and making factories smarter through exchanges between production sites and the sharing of manufacturing technologies, and utilizing resources through group management.