Additional Acquisition of Indonesian MPMF Shares and Consolidation as a Subsidiary
First written in FY2017-Q3. 1 of 2 entries say "Achieved", first in FY2018-Q1. Latest entry: FY2018-Q1.
43 other companies' latest entry also says "Achieved".
- FY2018-Q1AchievedAnnual report
「On 17 May 2017, the company additionally acquired shares in PT Mitra Pinasthika Mustika Finance of the Republic of Indonesia, an equity-method affiliate, and converted it into a subsidiary.」
Regarding MPMF, the company completed its conversion into a subsidiary on 17 May 2017 by acquiring an additional 20.0% on top of its existing 40.0% stake, resulting in a post-acquisition voting rights ratio of 60.0%. - FY2017-Q3First statedAnnual report
「In its medium-term three-year management plan, ACT-Σ (Act Sigma), the company has identified “expanding the earnings base through Group synergies” as one of its business strategies. In December 2012, the company acquired a 40% stake in PT Sasana Artha Finance (now MPMF) and has since operated a sales finance business locally. With a view to expanding the business, the company decided to acquire an additional 20% of MPMF's issued shares from its joint-venture partner, PT Mitra Pinasthika Mustika Tbk. Subject to obtaining approval from the relevant authorities and other conditions, the company aims to complete the acquisition and strengthen MPMF's business and improve the Group's consolidated results.」
The company decided on a plan to acquire an additional 20% stake on top of its existing 40% investment and convert MPMF into a subsidiary, resulting in a post-acquisition ownership ratio of 60.0%. The acquisition is subject to approval from the relevant authorities and other conditions and had not been completed as of the date of this filing.