Basic agreement on the transfer of the powertrain business and increase in the equity stake
First written in FY2019. 2 of 7 entries say "Advanced", first in FY2023. Latest entry: FY2026.
No other company in this theme has enough history to compare yet.
- FY2026AdvancedAnnual report
「The fuel pump module business acquired from DENSO CORPORATION in September 2022 has completed its transition to our brand. From fiscal 2024, we are progressively shifting from contract manufacturing to in-house production and working to improve profitability by integrating product types with our existing products. In some regions, the shift to in-house production has already been completed.」
The brand transition following the FPM business acquisition has been completed, and the shift to in-house production has been completed in some regions. Product-type integration is also continuing. - FY2023AdvancedAnnual report
「The above amounts have been finalized following completion of the price adjustment. …Goodwill recognized: ¥1,147 million」
Following completion of the FPM business acquisition and acquisition of KDMK, the price adjustment and purchase price allocation for the acquisition cost of ¥19,039 million and goodwill of ¥1,147 million were completed and the amounts were finalized. - FY2023-Q2AchievedAnnual report
「Business combination date 1 September 2022 To strengthen competitiveness in overlapping areas of the powertrain business, we acquired the FPM business through the Company and its consolidated subsidiaries, and the Company acquired all equity interests in KYOSAN DENSO MANUFACTURING KENTUCKY, LLC.」
We acquired the FPM development, production and sales business from the DENSO Group and completed the Business Acquisition and acquisition of all equity interests in KDMK on 1 September 2022. The acquisition cost was ¥17,106 million, and goodwill recognized was ¥1,277 million. - FY2023-Q1RestatedAnnual report
「To strengthen the competitiveness of the powertrain business, the Board of Directors resolved at its meeting held on 17 January 2022 to acquire from DENSO CORPORATION the entire business covering the development, production and sale of fuel pump modules, and we entered into a business transfer agreement (the “Business Acquisition” in this section).」
We continue to disclose the contractual terms, regions covered and consideration of ¥19,081 million, among other details, concerning the acquisition from DENSO CORPORATION of the fuel pump module business and all equity interests in KDMK. The transaction is subject to approval by competition authorities, among other conditions, and completion had not been disclosed as of the end of the quarter. - FY2022-Q3ReframedAnnual report
「To strengthen the competitiveness of the powertrain business, the Board of Directors resolved at its meeting held on 17 January 2022 to acquire from DENSO CORPORATION the entire business covering the development, production and sale of fuel pump modules (FPM), and we entered into a business transfer agreement (the “Business Acquisition”). In connection with the Business Acquisition, we also acquired all equity interests in KYOSAN DENSO MANUFACTURING KENTUCKY, LLC (KDMK).」
The business transfer agreement differs in content from the basic agreement that disappeared from the previous year's disclosure. Under the agreement, we acquired from DENSO CORPORATION the FPM development, production and sales business and all equity interests in KDMK. The consideration is ¥19,081 million, with completion scheduled for 1 August 2022, subject to approval by competition authorities in each relevant country and region, among other conditions. - FY2020DroppedAnnual report
「4 [Material Contracts Relating to Management] Not applicable.」
The basic agreement disclosed in the previous fiscal year concerning the partial transfer of the powertrain business and an increase in the equity interest is not included in this fiscal year's significant contracts or in the main text. - FY2019First statedAnnual report
「At a meeting of the Board of Directors held on 20 May 2019, the company resolved to begin considering the transfer of part of DENSO's powertrain business to the company and an increase in DENSO's equity stake in the company, and the two companies reached a basic agreement.」
As a subsequent event, the company disclosed the start of consideration of the transfer of part of DENSO's powertrain business and an increase in DENSO's equity stake. The parties aim to conclude a definitive agreement around autumn 2019, subject to approval from competition authorities and other conditions.