Expansion of the European thermometer product portfolio through the acquisition of Rueger Holding SA
First written in FY2019. 5 of 8 entries say "Restated". Latest entry: FY2022.
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- FY2022RestatedAnnual report
「The Group comprises the company, 34 subsidiaries and 10 affiliated companies.」
The group has maintained its portfolio of temperature and pressure measurement products, including those of European companies acquired such as Rueger Holding S.A., and includes the European subsidiaries in its group structure. - FY2021-Q2RestatedAnnual report
「For the second quarter under review, the European subsidiary added to the group by the U.S. subsidiary in April 2019 contributed to higher revenue, but sales declined due to the impact of restrained capital investment against the backdrop of lower crude oil prices.」
The acquired European subsidiary continued to contribute to revenue, but sales at the U.S. subsidiary declined because capital investment was restrained against the backdrop of lower crude oil prices. - FY2021-Q1RestatedAnnual report
「For the first quarter under review, the European subsidiary added to the group by the U.S. subsidiary in April 2019 contributed to higher revenue.」
The acquired European subsidiaries continued to contribute to higher revenue, but no milestones for new acquisitions or product expansion were indicated. - FY2020Full-year results of the acquired companies included in consolidated resultsAnnual report
「At the U.S. subsidiary, the European subsidiary added to the group in April 2019 contributed to higher revenue.」
The acquisitions of European subsidiaries, including Rueger Holding S.A., were incorporated into consolidated results and contributed to higher sales of pressure gauges and pressure sensors. - FY2020-Q3RestatedAnnual report
「From the second-quarter consolidated accounting period, Rueger Holding S.A. and Stiko Meetapparatenfabriek B.V. have been included in the scope of consolidation following the acquisition of their shares.」
The inclusion of Rueger Holding S.A. and Stiko Meetapparatenfabriek B.V. in the scope of consolidation following their acquisitions is reiterated, but no new acquisition synergies or progress in expanding the product range is described. - FY2020-Q2Progress toward including post-acquisition results in consolidated performanceAnnual report
「From the second quarter of the current fiscal year, Rueger Holding SA and Stiko Meetapparatenfabriek B.V. have been included in the scope of consolidation following the acquisition of their shares.」
For Rueger Holding SA, the acquisition of all shares completed after the end of the previous fiscal year progressed to inclusion in the scope of consolidation and recognition of results for the period from 1 May through 30 June 2019. - FY2020-Q1RestatedAnnual report
「At a meeting of the Board of Directors held on 24 April 2019, we decided that Ashcroft Instruments GmbH, an indirectly wholly owned subsidiary of ours based in North Rhine-Westphalia, Germany, and under the control of our subsidiary Ashcroft－Nagano Keiki Holdings, Inc. (head office: Connecticut, U.S.; directly wholly owned subsidiary), would acquire all issued shares of Rueger Holding SA. A sale and purchase agreement was signed on 24 April 2019, and the shares were acquired on 30 April 2019.」
The company reiterated the disclosure of its acquisition of all shares of Rueger Holding SA on 30 April 2019 after the end of the previous fiscal year, including the acquiring entity, agreement date and acquisition date. - FY2019First statedAnnual report
「By having ANKH acquire shares in RHSA and make it a subsidiary, the Group can add products related to electronic thermometers to its product portfolio, particularly in Europe. This will enable us to provide a comprehensive range of pressure- and temperature-related products in market sectors such as petrochemicals, biotechnology and diesel gas, and we expect this to increase sales.」
The company disclosed Rueger Holding SA's acquisition of 100% of its shares on 30 April 2019 as a subsequent event, citing the addition of temperature-related products in Europe, comprehensive offerings of pressure and temperature products, and increased sales as the purpose and expected effects of the acquisition.