Strengthening the Domestic Business Base Through the Absorption Merger of ホーチキエンジニアリング株式会社
First written in FY2024-Q3. 1 of 2 entries say "Achieved", first in FY2024. Latest entry: FY2024.
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- FY2024AchievedAnnual report
「On 1 April 2024, the Company absorbed its consolidated subsidiary ホーチキエンジニアリング株式会社 in a merger.」
The absorption-type merger approved and contracted in December 2023 was completed on 1 April 2024, and the consolidation of construction, maintenance and inspection functions was completed. - FY2024-Q3First statedAnnual report
「At a meeting of the Board of Directors held on 25 December 2023, the Company resolved to absorb its consolidated subsidiary HOCHIKI ENGINEERING Co., Ltd. and entered into a merger agreement on the same date. The merger is intended to improve management efficiency and speed decision-making by concentrating management resources, expand market share in the Tokyo area and improve the Group’s overall return on capital. As construction management personnel are expected to become increasingly scarce, the Company aims to strengthen its domestic business base by consolidating HOCHIKI ENGINEERING’s strengths in installation and maintenance inspection within the Company. Scheduled effective date: 1 April 2024.」
The Company describes for the first time its plan to absorb its wholly owned subsidiary in a merger and consolidate management resources, construction, maintenance and inspection functions. The merger is intended to expand market share in the Tokyo area, accelerate decision-making and strengthen the domestic business platform, with an effective date of 1 April 2024.