Expansion of Pharmaceutical and Government Logistics Through the Acquisition of Cavalier Logistics Group
First written in FY2024-Q1. 2 of 7 entries say "Worsened", first in 2026-04-30. Latest entry: FY2026.
No other company in this theme has enough history to compare yet.
- FY2026WorsenedAnnual report
「Because the fair value of the Cavalier Logistics Group based on its latest business plan fell below its carrying amount, the company recognised the entire amount of goodwill as an impairment loss in extraordinary losses.」
For the Cavalier Logistics Group after the acquisition, declining profitability due to changes in the business environment became apparent, and ¥4,927 million, equivalent to the full amount of goodwill, was impaired. - 2026-04-30WorsenedEarnings
「Operating profit decreased by ¥1,168 million, or 8.4%, from the previous fiscal year to ¥12,693 million. Performance at the Cavalier Logistics group fell below plan due to lower cargo volumes resulting from changes in the business environment following various policies of the new U.S. administration, delays in starting cargo handling at new facilities that began operations during the current fiscal year, and weaker performance at Chinese subsidiaries due to the slowdown in China’s economy.」
Performance at the Cavalier Logistics group fell short of plan due to the impact of U.S. policies, delays in commencing operations at new facilities and the slowdown in China’s economy. - FY2026-H1First-half results fell below plan after the acquisitionAnnual report
「Operating income fell by ¥770 million, or 10.9%, from the previous interim consolidated accounting period to ¥6,283 million, as the performance of the Cavalier Logistics group fell below plan due to a decline in cargo handling associated with changes in the business environment resulting from various policies of the new US administration and delays in starting cargo handling at new facilities that began operations during the period, in addition to weaker performance at Chinese subsidiaries due to the economic slowdown in China.」
The Cavalier Logistics Group’s results fell below plan due to reduced cargo handling under US policy and delays in starting operations at new facilities. While the acquisition expanded the logistics business, first-half profit was below plan. - FY2025AdvancedAnnual report
「To expand its pharmaceutical logistics business, the company acquired shares of the Cavalier Logistics Group, which operates that business in the United States and the United Kingdom, in October 2023 and has included the Group in its consolidated accounts since the end of the third quarter of the fiscal year ending March 2024.」
The Cavalier Logistics Group contributed for the full fiscal year, helping expand earnings from the warehousing and international freight handling businesses. The holding company and the three US companies merged in January 2025. - FY2024-Q3RestatedAnnual report
「During the third quarter of the current consolidated fiscal year, the company acquired shares of the four US companies Cavalier Logistics Management Ⅱ, Inc., Cavalier International Air Freight, Inc. and DC Dyna, Inc., and the UK company Cavalier Logistics U.K. Limited, and included the four companies in the scope of consolidation.」
Following completion of the acquisition of the four Cavalier Logistics Group companies, the companies were included in the scope of consolidation from the third quarter. The company recognised an acquisition cost of ¥24,218 million and goodwill of ¥21,977 million; for the cumulative period through the current quarter, only their balance sheets were consolidated. - FY2024-Q2AchievedAnnual report
「On 2 October 2023, Holding Company acquired, for cash consideration, shares equivalent to 90% of the total issued shares of the Cavalier Logistics Group and, by accepting an in-kind contribution of shares in the Cavalier Logistics Group equivalent to the remaining 10% in exchange for newly issued shares equivalent to 10% of Holding Company's shares, acquired all of the issued shares of the Cavalier Logistics Group.」
The company completed the acquisition of the four Cavalier Logistics Group companies on 2 October 2023, bringing pharmaceutical and healthcare logistics and logistics for US government agencies into the Group. - FY2024-Q1First statedAnnual report
「On 28 April 2023, the company entered into a share purchase agreement to acquire, through a newly established US subsidiary (the “US Subsidiary”), the shares of four companies providing pharmaceutical and healthcare logistics and logistics services for US government agencies: Cavalier Logistics Management Ⅱ, Inc., Cavalier International Air Freight, Inc. and DC Dyna, Inc. of the United States, and Cavalier Logistics U.K. Limited of the United Kingdom (collectively, the “Cavalier Logistics Group”). The scheduled share transfer completion date was changed to 2 October 2023.」
The company entered into an agreement to acquire all shares of four US and UK companies through its US subsidiary. Under the acquisition structure, the US subsidiary holds 90% and the current CEO and current CFO hold a combined 10%; the scheduled completion date was changed to 2 October 2023 in consideration of CFIUS review.