Entry into the wholesale and corporate sales business for men's footwear through the acquisition of Tomoe Shoji
First written in FY2024-Q1. 1 of 3 entries say "Dropped", first in FY2024-Q2. Latest entry: FY2024-Q3.
No other company in this theme has enough history to compare yet.
- FY2024-Q3AchievedAnnual report
「This Share Acquisition forms part of the growth strategy presented by the Company and complements an area of the footwear business in which the Company has not previously operated. We regard this Share Acquisition as an opportunity and will continue to pursue initiatives focused on expanding our business model in order to establish a new business platform capable of generating synergies.」
The acquisition of トモエ商事 was completed, establishing a presence in the men's footwear wholesale and corporate sales market, primarily through department stores. The acquisition consideration was ¥113 million, the acquisition voting interest was 100%, and the Company recognized ¥288 million in gain on the recognition of negative goodwill. - FY2024-Q2DroppedAnnual report
「There were no material changes in the nature of the business conducted by the Group (the Company and its affiliated companies) during the cumulative second quarter of the current consolidated fiscal year. There were also no changes among its principal affiliated companies.」
The entry into the men's footwear wholesale and corporate sales business by トモエ商事 described in the previous filing is not mentioned in this filing as a significant change in business activities or a change involving a major affiliate. The Company has not expressly stated whether the acquisition was completed or cancelled. - FY2024-Q1First statedAnnual report
「トモエ商事's main business is the wholesale distribution of men's footwear to corporate customers, primarily department stores. It specializes in wholesale operations, particularly sales to department stores, an area in which our Company has not previously operated. Department stores are recovering as consumers have more opportunities to go out and inbound sales recover, and demand for the high-priced men's footwear that is トモエ商事's mainstay is expected to expand. We therefore determined that トモエ商事's wholesale business, expertise and sales channels would contribute to increasing the corporate value of our Group.」
The Company first presented a specific plan to acquire all shares of トモエ商事 and enter the men's footwear wholesale and corporate sales market, primarily through department stores. The planned business combination date was 28 August 2023, the acquisition voting interest was 100%, and the planned acquisition consideration was ¥120 million.