Expansion of the food-packaging wrapping film business through the acquisition of 株式会社キッチニスタ as a subsidiary
First written in FY2022-Q1. 3 of 9 entries say "Restated". Latest entry: 2026-05-29.
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- 2026-05-29AchievedGeneral Meetings of Shareholders
「In April 2025, the company absorbed and merged its subsidiary 株式会社キッチニスタ, integrating the organizational management of the packaging-materials business, including wrapping films.」
The company states that it has integrated the organizational management of the packaging-materials business following the absorption-type merger of キッチニスタ. - FY2026-H1ReframedAnnual report
「During the interim consolidated accounting period, Kitchinista Co., Ltd., formerly a consolidated subsidiary, was dissolved through an absorption-type merger with the Company as the surviving company and was therefore excluded from the scope of consolidation.」
After its acquisition by the Company, 株式会社キッチニスタ ceased to exist as a legal entity through an absorption-type merger, and its food-packaging wrapping film business was integrated into the Company. - FY2023Post-acquisition underperformance and impairment recognizedAnnual report
「Because the performance of 株式会社キッチニスタ had remained below the initial plan, the Company reviewed the business plan during the current consolidated fiscal year for goodwill and other intangible fixed assets arising from the acquisition. As a result, excess earning power was no longer expected, so the carrying amounts were reduced to their recoverable amounts, and the reductions were recognized as impairment losses.」
Based on the Company's statement that performance fell below the initial plan after 株式会社キッチニスタ became a subsidiary, an impairment loss of ¥1,338 million was recognized on goodwill and other assets. - FY2023-Q3RestatedAnnual report
「Sales of packaging-material products, including wrapping film, increased substantially as a result of the consolidation of 株式会社キッチニスタ. As a result, sales in this business were ¥20,005 million, up 25.5% year on year, and segment profit (operating profit) was ¥905 million, up 35.3% year on year.」
The increase in sales of packaging-material products following the consolidation of 株式会社キッチニスタ continued, with the Living Environment and Lifestyle Materials Business reporting a 25.5% increase in sales and a 35.3% increase in operating profit. - FY2023-Q2AdvancedAnnual report
「Sales of packaging-material products, including wrapping film, increased substantially as a result of the consolidation of 株式会社キッチニスタ. As a result, sales in this business were ¥12,981 million, up 34.1% year on year, and segment profit (operating profit) was ¥442 million, up 21.8% year on year.」
The increase in sales of packaging-material products following the consolidation of 株式会社キッチニスタ was confirmed, with the Living Environment and Lifestyle Materials Business reporting a 34.1% increase in sales and a 21.8% increase in operating profit. - FY2022RestatedAnnual report
「The Company completed the acquisition of all shares on 2 August 2021. The acquired voting rights ratio was 100%, the consideration was ¥4,011 million in cash, and goodwill recognized was ¥1,405 million.」
The Company disclosed for the full year that the acquisition of 株式会社キッチニスタ had been completed, and finalized the acquisition price at ¥4,011 million, the voting rights ratio at 100% and goodwill at ¥1,405 million. - FY2022-Q3AdvancedAnnual report
「The accounting treatment for the business combination with 株式会社キッチニスタ on 2 August 2021 had been provisional in the second quarter of the current fiscal year, but was finalized in the third quarter.」
For the business combination with 株式会社キッチニスタ, the purchase price allocation, which was provisional in the second quarter, was finalized in the third quarter. Accordingly, goodwill was revised from ¥1,450 million to ¥1,405 million, and the allocation to customer-related assets of ¥224 million and property, plant and equipment of ¥398 million, among other items, was finalized. - FY2022-Q2RestatedAnnual report
「The Company acquired all issued shares of a newly established company that succeeded to Showa Denko Materials' food-packaging wrapping film business through a company split and made it a subsidiary. The business combination date was 2 August 2021 (deemed acquisition date: 30 September 2021), the acquired voting rights ratio was 100%, the consideration was ¥3,666 million in cash, and goodwill recognized was ¥1,450 million.」
株式会社キッチニスタ, acquired on 2 August 2021, was included in the scope of consolidation from the second quarter. The acquisition cost was ¥3,666 million, the voting rights ratio was 100%, and provisional goodwill of ¥1,450 million was disclosed. - FY2022-Q1AchievedAnnual report
「The Company believes that, by acquiring shares in a newly established company that succeeded to the target business, it could secure a high share of Japan's market for small rolls of PVC wrap and improve its competitiveness in the industry. The Company determined that synergies, including lower production costs through the optimization and increased efficiency of production in the target business and its food-packaging wrapping film business, would be generated and contribute to enhancing the corporate value of the Group. On 2 August 2021, the Company acquired all issued shares of the newly established company. The consideration was ¥3,666 million in cash, and the acquired voting rights ratio was 100%.」
On 2 August 2021, the Company acquired all shares of 株式会社キッチニスタ, which succeeded to Showa Denko Materials' food-packaging wrapping film business, for ¥3,666 million in cash. The acquisition was intended to secure a share of the domestic market, reduce production costs and generate synergies.