Expansion of the Northern Kyushu Construction Machinery Business through the Acquisition of Grand Earth Kyushu Machinery Center as a Subsidiary
First written in FY2022-Q2. 3 of 5 entries say "Advanced", first in FY2022-Q3. Latest entry: FY2023.
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- FY2023AdvancedAnnual report
「Effective 1 January 2023, the Company carried out an absorption-type merger in which 株式会社グランドアース was the surviving company and 株式会社九州機械センター was the absorbed company, and changed the corporate name to 株式会社グランドアース九州.」
For the 2 subsidiaries acquired to expand the construction equipment business in northern Kyushu, the Company carried out an absorption-type merger and changed the corporate name, progressing with the integration of leasing and sales functions. - FY2023-Q2AdvancedAnnual report
「The Company decided to merge 株式会社グランドアース, which operates a construction equipment leasing business in Kyushu, with 株式会社九州機械センター, which operates a construction equipment sales business, in order to capitalize on the Group's strength in providing “comprehensive functions,” increase the flexibility of its human capital, and achieve further business expansion and efficient operations.」
The Company decided to carry out an absorption-type merger of Grand Earth and Kyushu Machinery Center, scheduled for 1 January 2023. The objectives are to integrate their leasing and sales functions, increase the flexibility of human capital, expand the business and improve efficiency. - FY2022RestatedAnnual report
「The Company operates nationwide, with the sale and leasing of civil engineering and construction equipment as its core business. It decided to acquire the shares because making both companies consolidated subsidiaries was expected to expand the construction equipment business in northern Kyushu and generate synergies with its existing locations.」
The full-year report reconfirmed the acquisition purpose: acquiring 90% of Grand Earth and Kyushu Machinery Center and making them consolidated subsidiaries to expand the construction equipment business and generate synergies in northern Kyushu. - FY2022-Q3AdvancedAnnual report
「株式会社グランドアース and 株式会社九州機械センター have been included in the scope of consolidation following the newly acquired shares. Goodwill arising from this event amounted to ¥107 million.」
Following the acquisition of shares in Grand Earth and Kyushu Machinery Center on 1 September 2021, their inclusion in the scope of consolidation was reflected from the third quarter, with goodwill of ¥107 million provisionally recognized. The companies' earnings and losses were not included in the cumulative period because the deemed acquisition date was 30 November 2021. - FY2022-Q2First statedAnnual report
「At a meeting of the Board of Directors held on 26 March 2021, the Company resolved to acquire 90% of the shares of each of 株式会社グランドアース and 株式会社九州機械センター and make them subsidiaries. The Company entered into a share transfer agreement on 9 April 2021 and completed the acquisition of the shares on 1 September 2021. The Company decided to acquire the shares because making both companies consolidated subsidiaries was expected to expand the construction equipment business in northern Kyushu and generate synergies with its existing locations.」
The Company acquired 90% of Grand Earth, which leases civil engineering and construction equipment, and Kyushu Machinery Center, which sells and repairs such equipment, and completed making both companies subsidiaries on 1 September 2021. The purpose was to expand the construction equipment business in northern Kyushu and generate synergies with existing locations.