Enhancing distribution capabilities and logistics infrastructure through the acquisition of Sumisho Special Steel
First written in FY2019. 1 of 4 entries say "Achieved", first in FY2020-Q1. Latest entry: FY2020.
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- FY2020RestatedAnnual report
「The company determined that acquiring the shares of 住商特殊鋼株式会社, which, like the company, has strengths in the sale of stainless steel, would enable both companies to make effective use of the management resources they had cultivated, optimize logistics bases and delivery systems through their cooperation, provide greater convenience to customers, and deliver benefits to end users.」
The full-year business combination notes confirmed the acquisition of all shares on 1 August 2019, the change of corporate name to 令和特殊鋼株式会社, and the consolidation of 株式会社ナカタニ as a subsidiary. The company continued to cite the optimization of logistics bases and delivery systems and improved convenience as the reasons for the acquisition. - FY2020-Q2AdvancedAnnual report
「During the current second-quarter consolidated accounting period, the company acquired all shares of 住商特殊鋼株式会社, which changed its corporate name to 令和特殊鋼株式会社 on 1 August 2019, made it a consolidated subsidiary, and changed its corporate name to 令和特殊鋼株式会社. 住商特殊鋼株式会社 also held 33.6% of 株式会社ナカタニ, which had been accounted for as an equity-method affiliate of the company. As a result of the acquisition, the company group came to hold 67.3% of 株式会社ナカタニ, which was therefore made a consolidated subsidiary.」
In addition to acquiring 100% of 住商特殊鋼, the company’s ownership ratio in 株式会社ナカタニ, held by 住商特殊鋼, became 67.3%, and it was made a consolidated subsidiary. The number of consolidated subsidiaries increased by 2, expanding the group’s scope toward expanding assets and logistics functions in the sales business and creating synergies. - FY2020-Q1AchievedAnnual report
「Based on the share purchase agreement entered into with 住友商事グローバルメタルズ株式会社 on 11 June 2019, the company completed the acquisition of the shares of 住商特殊鋼株式会社 on 1 August 2019 and made it a consolidated subsidiary. Voting rights acquired: 100%」
The company completed the acquisition of all shares of 住商特殊鋼株式会社 on 1 August 2019 and made it a consolidated subsidiary. The acquisition cost was ¥2,817 million, and the post-combination company was named 令和特殊鋼株式会社. - FY2019First statedAnnual report
「The company determined that acquiring the shares of 住商特殊鋼株式会社, which, like the company, has strengths in the sale of stainless steel, would enable both companies to make effective use of the management resources they had cultivated, optimize logistics bases and delivery systems through their cooperation, provide greater convenience to customers, and deliver benefits to end users.」
The company entered into a share transfer agreement on 11 June 2019 and planned to acquire 100% of the issued shares of 住商特殊鋼株式会社 on 1 August 2019. The estimated acquisition cost was ¥2,829 million.