Strengthening the Premium Automotive Audio Business Through the Acquisition of FAITAL
First written in FY2020-Q1. 1 of 3 entries say "Achieved", first in FY2020-Q2. Latest entry: FY2023-Q2.
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- FY2023-Q2AdvancedAnnual report
「In connection with this change in fiscal year-end, the consolidated results for the nine-month period from 1 January 2022 to 30 September 2022 are included in the cumulative consolidated results for the second quarter.」
As a result of changing the fiscal year-end of FAITAL S.p.A. and 2 other overseas subsidiaries to 31 March, the second-quarter cumulative results include 9 months from January to September 2022. - FY2020-Q2AchievedAnnual report
「Voting interest owned immediately before the acquisition: 19.9%; voting interest additionally acquired on the business combination date: 60.1%; voting interest after the acquisition: 80.0%」
The additional acquisition of shares in FAITAL S.p.A. was completed on 27 June 2019, resulting in the company becoming a subsidiary with an 80.0% voting interest. - FY2020-Q1First statedAnnual report
「In the automotive audio equipment business, we have developed a distinctive premium position through both the Alpine brand and our OEM business for automakers. We believe that audio will continue to play an important role in the future automotive equipment business as the way people spend time in their vehicles changes. As it is increasingly necessary to strengthen this added value, we decided to make FAITAL S.p.A., a specialist manufacturer of high-end speakers, a subsidiary in order to quickly further strengthen our speaker product development capabilities, quality and cost competitiveness, develop the premium segment based on our strengths in compact, highly efficient products, and offer attractive products.」
On 27 June 2019, we acquired additional shares in FAITAL S.p.A., a specialist manufacturer of high-end speakers, making it a subsidiary and bringing our voting interest to 80.0%. The aim was to strengthen speaker product development capabilities, quality and cost competitiveness, and develop the premium segment.