Expansion targeting local Chinese customers through the additional acquisition and conversion into a subsidiary of Qingdao Toyo Heat Exchanger Co., Ltd.
First written in FY2018-Q3. 5 of 7 entries say "Advanced", first in FY2019-Q1. Latest entry: FY2024.
1 other company's latest entry also says "Advanced".
- FY2024AdvancedAnnual report
「Through the additional acquisition of shares in the 3 Chinese subsidiaries, they became wholly owned subsidiaries. With this move to 100% ownership, the 3 Chinese subsidiaries now have a structure that enables them to maximize synergies by leveraging the strengths of each location in line with our management policies.」
In March 2024, we acquired additional shares in the 3 Chinese subsidiaries in Qingdao, Zhongshan and Changshu, making them wholly owned subsidiaries. The acquisition consideration was ¥1,610 million, advancing the structure for creating synergies among our Chinese locations. - FY2019AdvancedAnnual report
「Automotive sales increased substantially from the previous fiscal year, driven by ¥4,259 million in sales from Qingdao Dongyang Heat Exchanger Co., Ltd., which we additionally invested in and made a subsidiary from the third quarter of the previous fiscal year.」
The ¥4,259 million in sales from Qingdao Dongyang Heat Exchanger Co., Ltd. after it became a consolidated subsidiary contributed to higher sales in the China segment. - FY2019-Q3AdvancedAnnual report
「Automotive sales increased substantially year on year, driven by ¥5,092 million in sales from Qingdao Dongyang Heat Exchanger Co., Ltd., which we additionally invested in and made a subsidiary from the third quarter of the previous fiscal year.」
The ¥5,092 million in sales from Qingdao Dongyang Heat Exchanger Co., Ltd. after it became a consolidated subsidiary contributed to higher sales in the China segment, which increased by ¥6,468 million year on year. - FY2019-Q2AdvancedAnnual report
「Automotive sales increased substantially year on year, driven by ¥3,821 million in sales from Qingdao Dongyang Heat Exchanger Co., Ltd., which we additionally invested in and made a subsidiary from the third quarter of the previous fiscal year.」
The ¥3,821 million in sales from Qingdao Dongyang Heat Exchanger Co., Ltd. after it became a consolidated subsidiary contributed to higher sales in the China segment, which increased by ¥4,741 million year on year. - FY2019-Q1AdvancedAnnual report
「Automotive sales increased substantially year on year as sales from Qingdao Dongyang Heat Exchanger Co., Ltd., which we additionally invested in and made a subsidiary from the third quarter of the previous fiscal year, were newly included.」
Sales from Qingdao Dongyang Heat Exchanger Co., Ltd. after it became a consolidated subsidiary contributed to higher sales in the China segment, which increased by ¥2,351 million year on year. - FY2018AchievedAnnual report
「To strengthen collaboration with our group and further expand our business among local Chinese customers, we decided to make the acquired company a consolidated subsidiary.」
On 31 October 2017, we completed the additional acquisition of Qingdao Dongyang Heat Exchanger Co., Ltd., raising our voting interest from 39% to 64% and making it a consolidated subsidiary. The initiative to expand among local Chinese customers has been completed. - FY2018-Q3First statedAnnual report
「To strengthen collaboration with our group and further expand our business among local Chinese customers, we decided to make the acquired company a consolidated subsidiary.」
On 31 October 2017, we acquired additional shares in Qingdao Dongyang Heat Exchanger Co., Ltd., formerly an equity-method affiliate, increasing our voting interest by 25 percentage points from 39% to 64% and making it a consolidated subsidiary. The consideration for the additional acquisition was ¥652 million, and goodwill was ¥453 million.