Expansion through M&A and conversion of GTNET株式会社 into a subsidiary
First written in FY2019. 2 of 6 entries say "Restated". Latest entry: FY2023-Q1.
0 other companies' latest entry also says "Cited as achieved".
- FY2023-Q1Cited as achievedAnnual report
「Revenue was ¥31,882 million, down ¥3,908 million, or 10.9%, year on year, partly due to the exclusion of 1 consolidated subsidiary from the principal automotive-related business, among other factors.」
After all shares of GTNET株式会社 were transferred and it was excluded from the scope of consolidation, that impact was cited as a factor behind the year-on-year decline in the automotive-related business and consolidated revenue for the first quarter of the current fiscal year. - FY2022ReframedAnnual report
「GTNET株式会社, which had been a consolidated subsidiary, was excluded from the scope of consolidation because the company transferred all of its shares following the termination of the capital and business alliance.」
After making GTNET株式会社 a subsidiary, the company terminated the capital and business alliance, transferred all of its shares, and excluded it from the scope of consolidation. It also recorded a ¥78 million loss on the reorganisation of affiliated companies. - FY2021RestatedAnnual report
「We will achieve sustainable growth for the group as a whole through expansion and deeper synergies, including M&A centered on the automotive-related business.」
The company continues to pursue M&A centered on the automotive-related business, expansion in scale, and deeper synergies. - FY2020-Q2RestatedAnnual report
「Based on a resolution of the Board of Directors meeting held on 17 June 2019, the company entered into a capital and business alliance agreement with GTNET株式会社 dated 21 June 2019, acquired its shares dated 22 July 2019, and made it a subsidiary. Voting rights acquired: 51%.」
The acquisition dated 22 July 2019 of 51% of the voting rights of GTNET株式会社 and its conversion into a subsidiary were completed, and its results for the period from 1 July to 30 September 2019 were included in the consolidated results. - FY2020-Q1AchievedAnnual report
「Based on a resolution of the Board of Directors meeting held on 17 June 2019, the company entered into a capital and business alliance agreement with GTNET株式会社 dated 21 June 2019, acquired its shares dated 22 July 2019, and made it a subsidiary. Voting rights acquired: 51%.」
Regarding the M&A policy presented in the prior fiscal year, the company reported that it acquired 51% of the shares of GTNET株式会社 dated 22 July 2019 and made it a subsidiary. - FY2019First statedAnnual report
「We will actively pursue M&A centered on the automotive-related business, including businesses related to group companies, to achieve sustainable growth for the group as a whole.」
The new medium-term management plan calls for expansion through M&A, and the company decided to acquire 51% of the voting rights of GTNET株式会社 and make it a subsidiary, with 22 July 2019 set as the scheduled acquisition date after the filing.