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2022/04/21
Corporate Information

Acquisition of shares in EPSITEC Italy (conversion to subsidiary)

April 21, 2022

 

Acquisition of shares in EPSITEC Italy (conversion to subsidiary)

CKD Corporation (Headquarters: Komaki City, Aichi Prefecture, President: Katsuhito Okuoka) acquired all shares of its affiliated company, EPSITEC, Italy, on April 5, 2022, making it a subsidiary.
In order to strengthen sales in Europe, we established a sales subsidiary, CKD Europe B.V. in the Netherlands in November 2016. In January, 2017, we invested a 39% stake in EPSITEC, an Italian sales company, to utilize the existing commercial distribution channels, and have now made an additional investment in this company and became a 100% owned subsidiary.
In addition, we will change the company name to CKD Italia S.R.L (tentative name) within the first half of fiscal 2022 to promote sales expansion in the Italian market.

[Overview of subsidiary incorporation]
1. Investee       Company name: EPSITEC S.R.L
            Address:Florence, Tuscany, Italy
            Number of directors and employees: 10 in total
            Sales : €1,824,000 (approx. 246 million yen) FY2021 results
            Established: 1993

2. Amount of additional investment     €665,000 (approx. 90 million yen)

3. Date of acquisition of all shares      April 5, 2022