Integration of the home center business through LIXILビバ becoming a wholly owned subsidiary
First written in FY2021-Q1. 2 of 6 entries say "Advanced", first in FY2021-Q2. Latest entry: FY2023-Q2.
No other company in this theme has enough history to compare yet.
- FY2023-Q2AchievedAnnual report
「At a meeting of the Board of Directors held on 11 March 2022, we resolved to effect an absorption-type merger, with the Company as the surviving company and 株式会社ビバホーム, our 100%-owned consolidated subsidiary, as the absorbed company, effective 1 September 2022, entered into a merger agreement on the same date, and absorbed 株式会社ビバホーム effective 1 September 2022.」
The absorption-type merger of ビバホーム was completed effective 1 September 2022, completing the legal integration following its conversion into a wholly owned subsidiary. - FY2023-Q1RestatedAnnual report
「We decided to effect the absorption-type merger because we determined that it would enable us to pursue the maximization of synergies between the Company and ビバホーム with speed, while also improving management efficiency.」
The plan for the absorption-type merger of ビバホーム, aimed at maximizing synergies and improving management efficiency and effective 1 September 2022, remains in place. - FY2022AdvancedAnnual report
「At a meeting of the Board of Directors held on 11 March 2022, we resolved to effect an absorption-type merger, with the Company as the surviving company and 株式会社ビバホーム, our 100%-owned consolidated subsidiary, as the absorbed company, effective 1 September 2022, and entered into a merger agreement on the same date.」
Integration following the making of ビバホーム a wholly owned subsidiary advanced to the execution of an absorption-type merger agreement effective 1 September 2022. - FY2021-Q3AchievedAnnual report
「Voting rights ratio held immediately before the business combination 40% Voting rights ratio additionally acquired on the business combination date 60% Voting rights ratio after the acquisition 100%」
With respect to making LIXILビバ a wholly owned subsidiary, the voting rights ratio after the acquisition reached 100% through the additional acquisition and the acquisition of treasury shares, and ビバホーム became a consolidated subsidiary. - FY2021-Q2AdvancedAnnual report
「The tender offer was completed on 21 July 2020.」
The tender offer aimed at making LIXILビバ a wholly owned subsidiary was completed, and the process advanced to the acquisition of its shares and its newly becoming an equity-method affiliate. Making it a wholly owned subsidiary and integrating the businesses remained future plans. - FY2021-Q1First statedAnnual report
「We will conduct this tender offer because, in the current and expected future business environment for home improvement retailers, a capital and business alliance between the offeror and the target is a rational strategy for achieving further growth and enhancing corporate value, while rapid and flexible integration through making the target a wholly owned subsidiary is necessary to generate greater synergies and is consistent with the direction in which the industry is heading.」
On 9 June 2020, the company decided to commence a tender offer for shares of LIXILビバ. The offer price was ¥2,600 per share, the purchase consideration was ¥51,885 million, the planned number of shares to be purchased was 19,955,693, and the ownership ratio after the acquisition was 46.78%, with the ultimate aim of making LIXILビバ a wholly owned subsidiary.