Europe-Japan

Author: g_fasol

  • Hitachi “inspire the next” Europe opens Rail Research Centre (ERRC)

    Hitachi “inspire the next” Europe opens Rail Research Centre (ERRC)

    European Rail Research Centre (ERRC) to focus on rolling stock design, manufacturing, maintenance and traffic management systems

    by Gerhard Fasol

    ERCC will be part of Hitachi Europe’s Transportation Energy & Environment Research Laboratory

    Hitachi “inspire the next” announced on October 10, 2012 the opening of the new European Rail Research Centre (ERRC) in London, to support Hitachi’s many rail projects in Europe and globally.

    Hitachi’s new European Rail Research Centre (ERRC) will conduct research into:

    • rolling stock design
    • manufacturing
    • maintenance
    • traffic management systems

    Hitachi Rail Europe recent orders

    • UK Department for Transport’s Intercity Express Programme (IEP): 225 km/h Super Express Trains (SETs) to be financed, supplied and maintained by Agility Trains. Total number of trains: 122 trains
    • UK Network Rail Infrastructure Limited (“Network Rail”): prototype Traffic Management System

    Japan electronics industries – mono zukuri.

    Japan electronics industries: mono zukuri

    Copyright (c) 2012 Eurotechnology Japan KK All Rights Reserved

  • Buongiorno SpA acquired by NTT Docomo for € 209 million (US$ 260 million)

    Buongiorno SpA acquired by NTT Docomo for € 209 million (US$ 260 million)

    NTT Docomo acquired Italian mobile content, apps and service provider in a public tender offer

    Buongiorno SpA becomes fully owned subsidiary of NTT Docomo

    NTT Docomo acquired mobile content provider Buongiorno SpA in August 2012 following a public tender offer via Docomo’s German subsidiary DOCOMO Deutschland GmbH. The shares were delisted from the Italian Stock Exchange on August 22, 2012.

    Buongiorno SpA

    Buongiorno Chairman Mauro Del Rio in 1995 sent email messages with the subject line “Buongiorno” (= good morning) to 11 friends with daily jokes, in 1998 Mauro Del Rio’s newsletters went to 25,000 people, creating the base for the company.

    As of December 31, 2006, Buongiorno SpA had consolidated investments of € 157.2 million, and consolidated revenues of € 191.8 million, and consolidated net income of € 12.6 million, and approx. 659 employees.

    Buongiorno SpA has grown through a series of acquisitions:

    • MyAlert in 2001
    • merger with Vitaminic in July 2003
    • Gsmbox in 2004
    • Freever (founded by Jerome Trainel, Philippe Tissot, and Pierre Duhau-Laurent) in 2005
    • Tutch NL in 2005
    • Dioranews in 2005
    • Inventa in 2006
    • Rocket Mobile in 2007
    • HotSMS
    • FlyTXT
    • iTouch in 2007
    • eDong Asia
    • Glamoo
    • Dada.net in 2011
    • carve out B2B business into Lumata Group

    Copyright (c) 2014 Eurotechnology Japan KK All Rights Reserved

  • Mobile payment in EU vs Japan: 10 years to reinvent the wheel?

    Mobile payments for transport first introduced commercially in Tokyo January 28, 2006

    Tokyo (mobile SUICA, FeliCa) vs. London (OYSTER, Mifare)

    Mobile payments are big: Reuters estimates that the mobile payment market will be about US$ 1000 Billion by 2016, and in Japan just a single railway line achieves already now several US$ billion in mobile payments per year.

    Mobile payment in London:

    On July 17, 2012 The Wall Street Journal reports, that as far as Transport for London is concerned, there is no viable mobile payment solution at this time:

    • Transport for London sees no way to use mobile payments at ticket barriers at this time, because the technology is not advanced enough
    • London’s state-of the art mobile payment transactions take longer than 500 milli-seconds which is too slow for Transport for London requirements

    Mobile payment in Tokyo:

    While no viable solution has yet been found in London, in Tokyo millions of people use “mobile SUICA” mobile payments every day at Tokyo’s rail, subway, tram lines and buses:

    • mobile payments at ticket barriers were first demonstrated in Tokyo in 2003 (photo below shows a demonstration at a trade show in Tokyo in 2004)
    • “mobile SUICA” mobile payments were commercially introduced to the public since January 28, 2006
    • payment transactions take 100 milli-seconds or less, which would fulfill Transport for London’s speed requirements
    • in addition mobile SUICA also has a full e-money function, and can be used at 1000s of stores all over Japan for payments, and for 1000s km of high-speed trains all over the main island of Japan, between Hakata and Aomori.

    Why does it take at least ten years to reinvent the mobile payment wheel in London?

    Why is it that a problem the solution of which was demonstrated in Tokyo in 2003 and put to commercial use every day since January 28, 2006 without any problems, has not yet been solved in London even today?

    The answer to this question is of course complex, and you will find elements of a discussion of this question on pages 185-188 of our mobile payment report (click here for free download which includes pages 185 – 188, pdf-file).

    In our opinion the answer for this huge delay even today in the age of globalization and internet is a combination of:

    • human nature and
    • the huge communication gap and disconnect between European organizations and companies and Japanese organizations and companies and
    • the totally different way in which banking systems, payment systems, and also the commercial structure and way of thinking of transportation companies are organized regulated in EU vs Japan.

    We have been working on mobile payment and e-money issues here in Tokyo for about 10 years or longer, and you may be interested in some of our reports:

    Copyright·©2013 ·Eurotechnology Japan KK·All Rights Reserved·

  • Dentsu acquires Aegis

    Dentsu acquires Aegis

    Aegis Group plc, a UK company with French roots

    by Gerhard Fasol

    Dentsu’s challenge to grow global footprint while managing cultural differences

    On Thursday, July 5th, 2012, Dentsu announced the acquisition of Aegis Group plc, a UK company with French roots, centered on media advertising media buying.

    Dentsu’s need to globalize

    Driving this acquisition was Dentsu’s need to globalize, to create the necessary global footprint to compete with Publicis, WPP, Omnicom, Interpublic, Havas on one hand, and with newcomers Google and Facebook.

    Dentsu Aegis Network created to overcome cultural issues

    To overcome the important cultural issues of Japan-focused Dentsu, the “Dentsu Aegis Network” was created which combines seven major global brands:

    • Carat
    • Dentsu
    • Dentsu Media
    • iProspect
    • Isobar
    • Posterscope
    • Vizeum

    Dentsu acquires expertise in local markets

    This acquisition enables Dentsu to acquire companies in local markets via this new European subsidiary. For European examples, see our listing of Japanese acquisitions in Europe.

    Previously, Dentsu had acquired:

    • Steak Group, a UK based digital media group
    • Adjug, a UK based advertising exchange

    Report on Japan’s media landscape (150 pages, pdf file):

    Japan media (14th edition)

    Copyright 2013 Eurotechnology Japan KK All Rights Reserved

  • Nidec acquires Ansaldo Sistemi Industriali S.p.A

    Nidec acquires Ansaldo Sistemi Industriali S.p.A

    Reorganized as Nidec ASI

    Nidec: “for everything that spins and moves”

    Nidec acquires Ansaldo Sistemi Industriali S.p.A. from HVEASI Holding BV, affiliated with Patriarch Partners LLC. The acquisition was completed in May 2012.

    Ansaldo Sistemi Industriali S.p.A (ASI) renamed: “Nidec ASI S.p.A.” and set up a Japan subsidiary Nidec ASI Japan Corporation to develop Nidec ASI’s business in Japan and South Korea.

    Ansaldo Sistemi Industriali S.p.A.

    Ansaldo Sistemi Industriali S.p.A. was founded in 1853 in Milano (Italy). Ansaldo Sistemi Industriali S.p.A. has about 1217 employees.

    Sales in Fiscal Year 2011 were € 292 million.
    Assets as of Dec 31, 2011 were € 469.1 million, fixed assets were € 56 million.

    Businesses are:

    • Motors, Generators and Drives Business
    • generators
    • Industrial Systems and Automation Business
    • Services (Maintenance) Business

    nidec (日本電産株式会社)

    Nidec was founded on 23 July 1973 in Kyoto by Nagamori Shigenobu, and produces motors, machinery, optical parts, camera shutters and other electro-mechanical equipment.

    Read our report on Japan’s electronics industry sector to learn more about NIDEC and its place in Japan’s electronics industry sector:

    Japan electronics industries: mono zukuri

    Copyright 2015 Eurotechnology Japan KK All Rights Reserved

  • Tokyo AIM stock market rebirth under Tokyo Stock Exchange (TSE) alone?

    Tokyo AIM – will it go the same way as NASDAQ-Japan?

    Nikkei: “Tokyo Stock Exchange has learnt enough from the London Stock Exchange to set up a similar market on its own”

    Tokyo AIM (the stock market joint venture between Tokyo Stock Exchange and London Stock Exchange) seems to be heading along a similar road as NASDAQ-Japan about 10 years earlier, according to an article in NIKKEI this morning (morning edition of March 26, 2012).

    Tokyo Stock Exchange plans to create a market more welcoming than Tokyo AIM

    Nikkei reports this morning that “Tokyo Stock Exchange has learnt enough from the London Stock Exchange to set up a similar market on its own. TSE plans to improve the rules of its own new market, so that TSE can create a more welcoming market”.

    Reminds me of NASDAQ-Japan almost exactly 10 years ago:

    At the end of 2002 I met with one of my friends, until a few days earlier CFO of NASDAQ-Japan, which terminated operations in Japan on October 15, 2002. I asked him as many questions as I could to build myself a good picture of why NASDAQ had not been successful in Japan, and why NASDAQ decided to terminate its operations in Japan. (After our conversation he offered my small company the used office furniture of NASDAQ-Japan at a good price, had I accepted this offer, my company’s people would all be sitting on x-NASDAQ-Japan chairs and desks…)

    NASDAQ initially entered Japan in a joint-venture with Softbank

    NASDAQ initially entered Japan in a joint-venture with Softbank, and built the NASDAQ-Japan stock exchange in cooperation with the Osaka Stock Exchange (OSE). When NASDAQ decided to terminate operations in Japan in October 2002, about 100 companies were listed on NASDAQ-Japan.

    NASDAQ quit Japan, and NASAQ-Japan became the HERCULES Stock Market

    The stock market built up by NASDAQ in Japan became HERCULES (full name: Nippon New Market Hercules) when NASDAQ exited Japan, and in December 2008 Osaka Stock Exchange acquired JASDAQ, and October 12, 2010 Hercules, JASDAQ and NEO were merged to form New-JASDAQ. This year, 2012, there were 7 IPOs on the New-JASDAQ, and about 1000 companies are currently traded on New-JASDAQ.

    Interesting to see that NASDAQ-Japan’s market and probably also the market to evolve now from TOKYO-AIM are success stories from the OSE and the TSE points of view, while NASDAQ and now apparently London-Stock-Exchange AIM withdrew from Japan.

    Lots to learn here for foreign companies with complex high-tech businesses such as stock exchanges entering and building business in Japan.

    Copyright·©2013 ·Eurotechnology Japan KK·All Rights Reserved·

  • Murata “innovator in electronics” acquires world’s largest independent MEMS manufacturer VTI Technologies Oy

    Murata “innovator in electronics” acquires world’s largest independent MEMS manufacturer VTI Technologies Oy

    VTI Technologies Oy acquired by Murata for € 195 million from EQT III

    by Gerhard Fasol

    Capacitive MEMS sensor maker VTI Technologies Oy is a perfect fit for miniature ceramic capacitor specialist Murata Electronics Oy

    Murata and private equity group EQT on October 11, 2011, announced the sale of VTI Technologies Oy to Murata for € 195 million. VTI Technologies Oy will be renamed Murata Electronics Oy, website:

    VTI Technologies Oy

    VTI Technologies Oy develops and manufactures acceleration, inclination, and angular momentum sensors using silicon based capacitive sensors based on proprietary 3D MEMS technology.

    Net sales in 2010 were € 75.8 million.

    EQT III acquired VTI from Breed Technologies in June 2002, VTI invested substantially in MEMS R&D and expanded sales by more than 75%.

    EQT

    EQT is a private equity fund, and was established in 1994 by Investor AB, AEA Investors, SEB and the founding partners.

    • 17 funds with about € 22 billion capital raised
    • Investment strategies: equity, mid market, infrastructure and credit
    • about 120 investments and 60 exits
    • approximately 140,000 employees and € 17 billion total sales within EQT portfolio companies
    • 19 offices in 14 countries

    EQT III

    EQT III was established in 2001 with committed capital of € 2 billion and is now fully invested.

    EQT III‘s focus was on medium-sized companies in Northern Europe in engineering, medical technology, telecom, automotive and branded consumer goods and business services.

    Murata Manufacturing

    Murata Manufacturing was founded by Akira Murata in Kyoto in October 1944, and focuses on ceramic passive electronics components, and manufactures the worlds smallest ceramic capacitors.

    Read our report on Japan’s electronics industry sector:

    Japan electronics industries: mono zukuri

    Copyright 2015 Eurotechnology Japan KK All Rights Reserved

  • Rakuten acquires UK e-commerce portal Play.com

    Rakuten acquires UK e-commerce portal Play.com

    Play.com: third European company acquired by Rakuten.com

    Rakuten continues global battle with Amazon.com

    On September 21, 2011, Rakuten announced acquisition of 100% of the UK e-commerce portal site Play.com for UKL 25 million (approx. US$ 40 million).

    Rakuten’s acquisition of Play.com (UK) follows the acquisitions of PriceMinister (France) and Tradoria (Germany).

    Play.com

    Play.com sells music, books, clothes, accessories and electronics, and has 14 million registered users and 7 million listed products. Play.com is the largest UK online seller of DVDs.
    Play.com has approximately 500 employees.

    Play.com was founded in 1998 on Jersey (Channel Islands) by Richard Goulding, Simon Perrée and Peter de Bourcier – all 28 years old – in backrooms of the local Athlete’s Foot store, run by Play.com founders Richard Goulding, Simon Perrée, and with investment from Zuma Investments Limited (registered in Jersey, see registration information in the JFSC Companies Registry here).

    • In 2004 Play.com sold 15 million shipments and sales of UKL 190m
    • In 2005 Play.com sold 25 million shipments and a sales of UKL 250m
    • In 2011 Play.com is estimated to achieve sales of UKL 400 million

    Play.com and the Channel Island tax loophole

    Under EU rules established around 1980, merchandise priced less than UKL 18 (approx. US$ 30) from Channel Island based websites could be sold to customers in the UK without paying VAT (value added tax). UK plans to close this loophole by March 2012.

    Copyright (c) 2011-2015 Eurotechnology Japan KK All Rights Reserved

  • Landis+Gyr acquired by Toshiba and The Innovation Network Corporation of Japan (INCJ)

    Landis+Gyr acquired by Toshiba and The Innovation Network Corporation of Japan (INCJ)

    Landis+Gyr to become “independent growth platform” within the Toshiba Group for smart meters and smart grid

    by Gerhard Fasol

    Landis+Gyr acquired by Toshiba (60%) and Innovation Network Corporation of Japan (40%) for US$ 2.3 billion

    Landis+Gyr acquired by Toshiba and The Innovation Network Corporation of Japan: this acquisition was finalized with a shareholder’s and share purchase agreement between Toshiba and INCJ and Landis+Gyr, announced on 25 July 2011.

    Initially, on 19 May 2011, Toshiba had announced the 100% acquisition of Landis+Gyr by Toshiba alone for US$ 2.3 billion including assumption of debt. Apparently, The Innovation Network Corporation of Japan entered this partnership sometime between May and July 2011 as an additional investor.

    Toshiba established a Special Purpose Vehicle (SPV):

    • Toshiba invests: US$ 1.02 billion corresponding to 60% of equity
    • INCJ invests: US$ 0.680 billion corresponding to 40% of equity

    In addition, Toshiba assumed Landis+Gyr’s net debt of US$ 600 million, thus the total cost to Toshiba is:

    • 60% equity in SPV: US$ 1.02 billion
    • assumption of Landis+Gyr net debt: US$ 0.6 billion
    • total acquisition cost to Toshiba: US$ 1.62 billion

    The Innovation Network Corporation of Japan (INCJ) invested US$ 680 million into this SVP, acquiring 40% of the SVP’s equity.

    Landis+Gyr – “manage energy better”

    Landis+Gyr was founded in 1896 as Elektrotechnisches Institut Theiler & Co in Zug, Switzerland by Richard Theiler. In 1904, Richard Theiler appointed the engineer Heinrich Landis as his successor. Heinrich Landis partnered with Dr. Karl Heinrich Gyr in 1905, and the company changed its name to Landis & Gyr in 1905.

    In 1998 Landis & Gyr was acquired by Siemens, and then again spun out in 2002 with the new version of the company name: Landis+Gyr.

    Landis+Gyr produces smart meters, smart grid equipment and related technology and services, with the mission to “manage energy better”.

    Landis+Gyr’s customers are mainly energy, gas and electricity utility companies throughout the world for their smart meter and smart grid networks.

    The Innovation Network Corporation of Japan (INCJ)

    The Innovation Network Corporation of Japan (INCJ) is an investment fund established on 27 July 2009 as a public-private partnership between the Japanese Government and 26 major Japanese corporations temporarily for 15 years.

    Investment capability:

    • Capitalization: YEN 300 billion (=approx US$ 3 billion)
      • Japanese Government: YEN 286 billion
      • 26 corporations: YEN 14 billion
    • Japanese Government guarantees: YEN 1800 billion (=approx US$ 18 billion)
    • Total investment capability: YEN 2100 billion (=approx US$ 21 billion)

    INCJ has made a range of investments, the largest investment (YEN 200 billion = approx. US$ 2 billion) is in Japan Display.

    In addition to the Japanese Government, 26 investors (total YEN 14 billion) are:

    • Asahi Kasei Corporation
    • Canon Inc.
    • Osaka Gas Co., Ltd.
    • Sharp Corporation
    • The Shoko Chukin Bank, Ltd.
    • Sumitomo Chemical Co., Ltd.
    • Sumitomo Corporation
    • Sumitomo Electric Industries, Ltd.
    • Sony Corporation
    • Takeda Pharmaceutical Company Limited
    • Toshiba Corporation
    • TOYOTA MOTOR CORPORATION
    • JGC Corporation
    • Development Bank of Japan Inc.
    • Panasonic Corporation
    • East Japan Railway Company
    • Hitachi, Ltd.
    • Marubeni Corporation
    • Mizuho Bank, Ltd.
    • Sumitomo Mitsui Banking Corporation
    • Mitsubishi Chemical Holdings Corporation
    • Mitsubishi Heavy Industries, Ltd.
    • Mitsubishi Corporation
    • The Bank of Tokyo-Mitsubishi UFJ, Ltd.
    • GE Japan Corporation
    • JX Nippon Oil & Energy Corporation

    Toshiba

    Toshiba is one of Japan’s eight top electronics group, which we analyze in our report “Japan’s electronics industries: mono zukuri“

    Japan electronics industries – mono zukuri.

    Japan electronics industries: mono zukuri

    Copyright (c) 2011 Eurotechnology Japan KK All Rights Reserved

  • Rakuten acquires 80% of German e-commerce platform Tradoria

    Rakuten acquires 80% of German e-commerce platform Tradoria

    Rakuten continues global expansion

    Competing with Amazon.com….

    On July 28, 2011, Rakuten announced the acquisition of 80% of Germany’s e-commerce site Tradoria for a “double-digit million” amount.

    Tradoria has been rebranded as Rakuten.de and has become part of Rakuten Deutschland GmbH.

    Tradoria

    Tradoria was founded in 2007, and today has more than 4400 online stores offering approximately 8 million products.

    Tradoria is based in Bamberg, and before the acquisition by Rakuten, investors included:

    • Seventure Partners (about 24 %)
    • DuMont Venture (about 19 %)
    • European Founders Fund of the Samwer brothers (about 11 %)

    Copyright (c) 2011-2015 Eurotechnology Japan KK All Rights Reserved

  • Value Team SpA acquired by NTT Data

    Value Team SpA acquired by NTT Data

    NTT Data’s a bridgehead to Brazil and South America

    Value Team SpA serves about 300 clients with about 3000 professionals

    On April 25, 2011, NTT Data announced the acquisition of 100% of shares of Value Team SpA via the subsidiary NTT Data Europe GmbH & Co KG for about € 250 million.

    Value Team SpA

    Founded in 2004 as part of Value Partners to offer business oriented IT services, and grew via acquisitions in Brazil and in Italy.

    In 2010, with about 3000 professionals served about 300 clients in the telecommunications, financial services and manufacturing sectors, and achieved € 308 million in revenues.

    NTT Data

    NTT Data, a subsidiary of Japan’s incumbent telecommunications group NTT, has been growing successfully around the globe with a series of acquisitions, including:

  • Hitachi Zosen acquires Energy-from-Waste (EfW) engineering firm AE&E Inova AG in Zürich, to become Hitachi Zosen Inova AG (HZI AG)

    Hitachi Zosen acquires Energy-from-Waste (EfW) engineering firm AE&E Inova AG in Zürich, to become Hitachi Zosen Inova AG (HZI AG)

    by Gerhard Fasol

    Waste is our energy! Energy-from-Waste (EfW)

    Hitachi Zosen acquires former Von Roll Inova to form Hitachi Zosen Inova AG

    AE&E Inova Holding AG filed for bankruptcy on December 3, 2010, and Hitachi Zosen Corporation (日立造船株式会社) acquired 100% of the shares of AE&E Inova Holding AG in Zurich with approval of the bankruptcy court, and the acquisition became final on December 20, 2010.

    Subsequently AE&E Inova Holding AG was renamed Hitachi Zosen Inova AG or abbreviated, HZI AG.

    Hitachi Zosen Inova AG history

    Inova was originally a department of the company “Gesellschaft der Ludwig von Roll’schen Eisenwerke” founded in 1823, the purpose was thermal waste treatment. Inova was founded in 1933 as “L. von Roll Bamag AG”.

    In 1960, Von Roll expanded to Germany and Japan, and in 1966 to France and Sweden, and 1975 to USA. Von Roll Environmental Technology Ltd was known as “Von Roll Inova Group”.

    In 2003, Von Roll Inova Group was acquired by the AE&E Group (Austrian Energy & Environment Group), a subsidiary representing about 40% of A-Tec Industries AG (http://www.atec-industries.com/). Both AE&E Group and A-Tec Industries AG went into bankruptcy proceedings. An overview of the complex bankruptcy and reconstruction proceedings can be found on the A-Tec Industries Wikipedia-page.

    AE&E Inova Holding AG filed for bankruptcy on December 3, 2010, and was acquired by Hitachi Zosen Corporation as of December 20, 2010.

    Japan electronics industries – mono zukuri.

    Japan electronics industries: mono zukuri

    Copyright (c) 2014 Eurotechnology Japan KK All Rights Reserved

  • Boehringer Ingelheim acquires SSP (エスエス製薬), acquiring remaining 40% for US$ 365 million

    Boehringer Ingelheim acquisition values SSP at approx US$ 900 million

    Boehringer Ingelheim acquires SSP stage-by-stage: 9.2% in 1996, 60% in 2001, 100% in 2010

    Boehringer Ingelheim acquires SSP (エスエス製薬株式会社), a Japanese OTC pharma company founded originally in 1765 as a pharmacy in Yaesu, Tokyo, starting with business cooperation, followed by staged investment over a period of five years, starting in 1995, followed by a Take-Over-Bid and delisting of SSP from the Tokyo Stock Exchange in 2010.

    SSP (エスエス製薬株式会社), founded in 1765

    History, and acquisition steps by Boehringer Ingelheim:

    • SSP (エスエス製薬株式会社) was founded in 1765 as a pharmacy in Yaesu, Tokyo
    • On 29 October 1927 the company was incorporated as （株）瓢箪屋薬房
    • In 1940 the company name was changed to (エスエス製薬株式会社)
    • 1969 IPO on the 2nd section of the Tokyo Stock Exchange
    • 1971 IPO on the 1st section of the Tokyo Stock Exchange
    • 1995-1996 Boehringer Ingelheim invests in SSP, and becomes largest share holder
    • 2001 Boehringer Ingelheim increases shareholding to above 50%
    • 15 February 2010 Boehringer Ingelheim Japan Investment GK (ベーリンガーインゲルハイム・ジャパン・インベストメント合同会社) issues a Take-Over-Bid (TOB), which is concluded on 15 April 2010, resulting in Boehringer Ingelheim Investment Japan acquiring a total of 93% of SSP shares.
    • 16 July 2010 SSP is delisted from Tokyo Stock Exchange
    • 1 October 2010 merger with Boehringer Ingelheim Japan Investment GK (ベーリンガーインゲルハイム・ジャパン・インベストメント合同会社)
    • 19 November 2010 merger with BI Nippon Invest GK (BIニッポンインベスト合同会社)
    • 19 November 2010 becomes subsidiary of Boehringer Ingelheim Japan KK (ベーリンガーインゲルハイムジャパン株式会社)
    • 1 January 2017 as part of a global asset swap of Boehringer Ingelheim with Sanofi, SSP becomes a subsidiary of the French pharmaceutical group Sanofi (サノフィ株式会社)

    Nippon Boehringer Ingelheim Co., Ltd. (ベーリンガーインゲルハイム ジャパン株式会社)

    Nippon Boehringer Ingelheim Co., Ltd. (ベーリンガーインゲルハイム ジャパン株式会社) was founded in 1961 as a subsidiary of the German Boehringer Ingelheim Group, which was founded in 1885 in Ingelheim am Rhein in 1885.

    Copyright (c) 2010-2017 Eurotechnology Japan KK All Rights Reserved

  • Sony Barcelona Tec factory sold to Ficosa International SA and Comsa Emte SL

    Sony Barcelona Tec factory sold to Ficosa International SA and Comsa Emte SL

    Sony Barcelona Tec technology center manufacturing LCD TV sets for Europe sold

    Sony Barcelona Tec acquired by Joint Venture between Spanish Companies Ficosa International SA and Comsa Emte SL

    Sony Barcelona Tec, the SONY Barcelona Technology Center was established in January 1973, and in August 2010 had about 1100 employees and was manufacturing LCD TVs for the European market. The site area is about 206,000 square meters, is located at Viladecavalls near Barcelona and can be seen here on Google Maps.

    With the sale of Sony Barcelona Tec the center is divided into two parts:

    • a manufacturing company whole owned and operated by Ficosa International SA
    • a development and engineering company owned by a joint venture between Ficosa International SA (50%) and Comsa Emte SL (50%).

    Ficosa International SA

    Ficosa International SA is an automobile parts company founded in 1949 and employing about 6800 people.

    Note: in 2014, Panasonic announced to acquire just under 50% of Ficosa for around US$ 275 million.

    Comsa Emte SL

    Comsa Emte SL is the second largest Spanish company in the engineering and infrastructure sector.

    Copyright·©2010 ·Eurotechnology Japan KK·All Rights Reserved·

  • Rakuten acquires French ecommerce portal PriceMinister.com

    Rakuten acquires French ecommerce portal PriceMinister.com

    Rakuten continues to globalize via acquisitions

    Rakuten seeks to compete globally with Amazon.com

    Rakuten acquires 100% of shares of PriceMinister S.A. for €200 million (= approx. US$ 250 million). The transaction is expected to close at the end of July 2010.

    PriceMinister S.A.

    PriceMinister was founded in 2000 by current CEO Pierre Kosciusko-Morizet, and Pierre Krings, Justin Ziegler and Olivier Mathiot in a former Zeppelin factory, and achieved revenues of € 40 million in 2009.

    PriceMinister S.A.‘s website PriceMinister.com has approximately 12 million members, is visited by approximately 11 million users/month.

    PriceMinister S.A. has about 100,000 sellers and 21,000 merchants offering about 160 million products.

    PriceMinister S.A. has established online businesses in:

    The PriceMinister Group has five business areas:

    1. guaranteed buying and selling (marketplace)
    2. automobiles (classifieds): http://www.priceminister.com/nav/Loisirs_accessoires-auto
    3. travel (price comparison): http://www.voyagermoinscher.com
    4. real estate (classifieds)
    5. email marketing

    Copyright (c) 2010-2015 Eurotechnology Japan KK All Rights Reserved

  • Square Enix acquires Eidos Interactive for £84.3 million

    Square Enix acquires Eidos Interactive for £84.3 million

    Eidos Interactive converted into Square Enix Europe

    Square Enix on the path to globalization

    Square Enix acquires the publicly listed British games company Eidos Interactive for £84.3 million (approx. US$ 130 million), Eidos shares were suspended from trading on April 21, 2009, and the shares will be cancelled on May 6, 2009.

    Edits became formally part of Square Enix on April 22, 2009.

    Eidos Interactive was going through a number of ups and downs, acquisitions and mergers previous to this sale of the company to Square Enix.

    For Square Enix the acquisition of Eidos Interactive is a step in globalizing the company’s footprint: Eidos name will be changed into Square Enix Europe, so effectively Eidos is turned into Square Enix’ Europe operations.

    Eidos Interactive

    Eidos was founded in 1990 by Stephen Bernard Streater (graduated in Mathematics from Trinity College, Cambridge) developing Full Motion Video (FMV) compression software for RISC Computers, such as the Acorn RISC Computer. Stephen B Streater left and sold Eidos, and founded Forbidden Technologies, while Eidos turned to game software.

    Around 2004/2005, Eidos suffered substantial losses and cash reserves were running low. Eidos had difficulties competing with Electronic Arts, Activision and other Western game makers. Eidos received acquisition offers from Elevation Partners, and the British Game maker SCi Entertainment, and on May 16, 2005, Eidos was sold to SCi Entertainment.

    In 2008, SCi Entertainment reported losses, and SCi Entertainment changed its name back to Eidos plc.

    • Revenues: £179.1 million (approx. US$ 270 million) (2006)
    • Net income: £8.1 million (approx. US$ 12 million) (2006)
    • Employees: 600

    Eidos was best known for the games:

    • Tomb Raider
    • Hitman
    • Deus Ex
    • Legacy of Kain
    • Thief

    Square Enix

    Square Enix was created on April 1, 2003 from the merger of the Japanese game companies:

    • Enix (founded on September 22, 1975) and
    • Square (founded on September, 1986).

    On October 1, 2008 the Square Enix Group of companies was converted into a holding company structure, Square Enix Holdings. Square Enix Holdings includes the group companies:

    • Square Enix Group
    • Taito Group
    • Square Enix Europe
    • Eidos Group
    • Shinra Technologies

    Square Enix is best known for it role playing games including the series:

    • Final Fantasy
    • Dragon Quest
    • Kingdom of Hearts

    Japan’s games sector

    With iconic traditional game companies including Nintendo, SONY, Konami, Sega Sammy, and new game giants including GungHo, LINE, and others, Japanese game companies have been setting the global game agenda for a long time, but do have some difficulties to globalize their Japanese success stories.

    Read our report on Japan’s game makers and markets for detailed analysis of financials and trends and market structure.

    Copyright·©2009-2015 ·Eurotechnology Japan KK·All Rights Reserved·

  • Jean-Claude Trichet, President of the European Central Bank ECB in Tokyo

    Jean-Claude Trichet, President of the European Central Bank ECB in Tokyo

    European Central Bank (ECB) President Jean-Claude Trichet gave a presentation here in Tokyo on April 18, 2009 about the current financial and economic crisis.

    Trichet blamed the crisis on an underpricing of the unit of risk. He also emphasized that its not a general crisis affecting all companies and financial institutions, but that some badly managed companies and banks are in bad shape, while well managed companies and financial institutions are in good shape and doing fine.

    Trichet praised excellent international cooperation in taking measures to improve economic and financial stability and he also mentioned that unconventional steps will be announced at future meetings.

    Overall his words were very carefully chosen and defensive, well aware of the impact of his words on the capital markets

    European Central Bank ECB President Jean-Claude Trichet
    European Central Bank ECB President Jean-Claude Trichet

    Copyright·©2013 ·Eurotechnology Japan KK·All Rights Reserved·

  • Kyocera expands in Europe via acquisition of TA Triumph-Adler

    by Gerhard Fasol

    Kyocera acquires Triumph-Adler for € 98.7 million

    Motivated by Triumph-Adler’s distribution network: 35,000 companies as customers in 33 countries

    Kyocera is one of Japan’s powerful electronics companies, which together are about as large economically as the whole of the Netherlands.

    Taking advantage of low EURO exchange rates and the high YEN, and low valuations during the current economic crisis, Kyocera acquired 93.84% (51,968,300 shares) of TA Triumph-Adler AG at a purchasing price of € 1.90/share for a total purchase price on the order of € 98.7 Million.

    Kyocera acquired TA Triumph-Adler for its distribution network: TA Triumph-Adler has about 35,000 companies as customers in 33 countries, with 70% of sales in Germany, giving Kyocera a much larger distribution footprint in Germany and EU.

    Kyocera launched the new brand “TASKalfa” for a new type of micro-particle toner for copy machines and a new software platform for copiers

    Triumph-Adler

    Triumph was founded 1896 as a bicycle maker, and has grown into a major European office equipment manufacturer and sales company. Triumph used to be famous for typewriters, with the disappearance of typewriters, Triumph went through a long sequence of restructuring and through many merger and acquisition transactions by many different owners including: Litton Industries, Volkswagen AG, Olivetti, Ideal Loisirs.

    TA Triumph-Adler’s annual sales are € 298.5 million.

    Read our report on Japan’s electronics industry sector to learn more about Kyocera and its place in Japan’s electronics industry sector:

    Japan electronics industries: mono zukuri

    Copyright 2009-2015 Eurotechnology Japan KK All Rights Reserved

  • Coffee with the Foreign Minister of Austria in Tokyo

    Coffee with the Foreign Minister of Austria in Tokyo

    Was invited to coffee with the Foreign Minister of Austria, Mr Michael Spindelegger, at the Embassy in Tokyo. Minister Spindelegger is in Tokyo for celebrating 140 years of Austria-Japan diplomatic relations, and he gave a short presentation.

    Another reason for the Minister’s visit to Japan is that both Japan and Austria are non-permanent members of the United Nations UN Security Council for the two year period from January 1, 2009 to December 31, 2010.

    Austria's Foreign Minister Michael Spindelegger
    Austria’s Foreign Minister Michael Spindelegger

    Copyright·©2013 ·Eurotechnology Japan KK·All Rights Reserved·

  • Suzuki Metal Industry Co Ltd acquires valve spring wire maker Haldex Garphyttan Wire

    Suzuki Metal with Garphyttan to become global player of Nippon Steel Group’s wire rod business

    Suzuki Metal Industry Co Ltd to issue news shares to be acquired by Nippon Steel Group to finance the acquisition of Garphyttan AB from Haldex Group

    On December 25, 2008, Nippon Steel Group and Suzuki Metal Co Ltd announced the issue of additional share capital by Suzuki Metal, to be acquired by Nippon Steel Group. Suzuki Metal is to become a consolidated subsidiary of Nippon Steel Group, and use the investment to acquire 100% of valve spring wire maker Garphyttan from the Haldex Group.

    The acquisition price is 800 million Swedish Kronor (=approx. YEN 9 billion, US$ 92 million). The acquisition is to be completed by April-June 2009.

    Garphyttan Wire’s name will be changed to Suzuki Garphyttan, and will be a consolidated subsidiary of Nippon Steel Group.

    In October 2012 Nippon Steel Corporation and Sumitomo Metal Industries were merged into Nippon Steel & Sumitomo Metal Corporation (NSSMC).

    Garphyttan Wire

    Garphyttan Wire produces advanced spring wire for combustion engines and transmission systems for cards and commercial vehicles, especially valve spring wire.

    As of September 30, 2008, Garphyttan Wire had 471 employees, and sales of approx. SEK 1.1 billion (= JPY 19.3 billion, US$ 127 million)

    Garphyttan Wire was founded in 1906.

    Haldex Group

    Haldex Group produces commercial vehicle systems, hydraulic systems, valve spring wire, traction systems and related products.

    Haldex Group employs about 6154 people as of September 30, 2008.

    Suzuki Metal Industry Co Ltd “The pioneer of special steel wire manufacturer in Japan”

    Suzuki Metal Industry with this transaction became a consolidated subsidiary of Nippon Steel Corporation.

    Suzuki Metal Industry was founded on May 1, 1938 in Kameido, Koto-ku, Tokyo. The company produces valve spring wire, piano wire, stainless steel wire, titanium wire, and other special wire products.

    In FY2007, Suzuki Metal Industry achieved sales of YEN 41.4 billion (US$ 400 million) and employed about 811 people.

    In October 2012 Nippon Steel Corporation and Sumitomo Metal Industries were merged into Nippon Steel & Sumitomo Metal Corporation (NSSMC).

    On April 28, 2015, it was announced that Suzuki Metal Industry Co became a wholly owned subsidiary of NSSMC via a share exchange.

    Copyright·©2009-2015 ·Eurotechnology Japan KK·All Rights Reserved·

  • NOKIA quits Japan – for now…

    NOKIA’s Japan subsidiary was founded on April 3, 1989 – almost 20 years ago. On November 27, 2008 NOKIA announced to terminate selling mobile phones to Japan’s mobile operators, effectively withdrawing from Japan (except for purchasing, R&D and VERTU).

    NOKIA’s sales figures in Japan were a well kept secret until last week when several Japanese newspapers wrote that NOKIA sold 200,000 phones during FY 2007: thus NOKIA’s market share was 0.39% – after 20 years of market entry efforts.

    Considering the disastrous collapse of mobile phone handset sales in Japan, NOKIA’s move to quit sales in Japan actually makes a lot of sense. Nothing prevents NOKIA from re-entering Japan again in the future.

    Copyright·©2013 ·Eurotechnology Japan KK·All Rights Reserved·

  • Japanese M&A abroad: Four critical factors for Japanese corporates making major international acquisitions, Stuart Chambers, CEO of NSG Group

    Japanese M&A abroad: Four critical factors for Japanese corporates making major international acquisitions, Stuart Chambers, CEO of NSG Group

    October 16, 2008 by Gerhard Fasol

    Stuart Chambers, CEO of NSG Group, gave a press conference on October 16, 2008, here are some notes and thoughts.

    On February 16th, 2006, Nippon Sheet Glass’ offer for the 80% of Pilkington plc it did not already own, for US$ 3.14 billion in total, was accepted by Pilkington’s share holders and the acquisition was completed in June 2006. At the 142nd Annual Shareholder Meeting on June 27th 2008, Stuart Chambers was appointed Representative Executive Director, President and CEO of NSG Group.

    Here some essential points of Stuart Chambers’ presentation, entitled “Four critical factors for Japanese corporates making major international acquisitions”.

    The four critical factors in the title are:

    1. Integration (share holders and customers demanded integration, because the value of the combined NSG + Pilkington after the acquisition must become bigger than the sum of its parts -> must change HR management, and board)
    2. Repaying debt -> senior management must understand the balance sheet
    3. Identifying growth opportunities for the future (glass for solar energy)
    4. Succession

    From the outset the aim was not to create a Japanese company with overseas subsidiaries, but to create an international company, headquartered in Japan and listed on the Tokyo Stock Exchange. Therefore the greatest changes needed to be made in Japan.

    NSG Group changed from an exclusively Japanese Board, to a new Board structure:

    Board of Directors: 12 (7 Japanese + 5 non-Japanese) and

    Executive Officers: 23 (11 Japanese + 12 non-Japanese)

    These changes were necessary in order to retain non-Japanese management talent from leaving the acquired company after the merger.

    The Board structure was changed from the traditional Kansayaku (Corporate Auditor) structure to a Board with Committees.

    HR management changes from internal promotion according to time served in each job level to the international practice of combining internal and external hiring according to capability and demonstrated performance ignoring age as a factor.

    Stuart Chambers, CEO of NSG Group
    Stuart Chambers, CEO of NSG Group

    Copyright (c) 2008-2013 Eurotechnology Japan KK All Rights Reserved

  • Nokia & Sony Ericsson Results Likely to Disappoint (CNBC TV interview)

    More in our J-ELECTRIC report: http://www.eurotechnology.com/store/j_electric/

    Copyright·©2013 ·Eurotechnology Japan KK·All Rights Reserved·

  • H&M: green field market entry to Japan, opens first Japan store in Tokyo – Ginza on September 13, 2008

    H&M: green field market entry to Japan, opens first Japan store in Tokyo – Ginza on September 13, 2008

    H&M entered Japan’s fashion market initially using a green field strategy, opening stores. On September 13, 2008, H&M opened the first store in Japan in Ginza, and is planning two more stores in Shibuya (see picture below) and in Harajuku.

    H&M adapted it’s global way of doing things to Japan’s market needs – for example, H&M introduced “Quality Managers& in it’s Japan store, in order to match Japan’s consumers high expectations for quality (and I guess also to avoid problems with Japan’s recently introduced product liability laws).

    One week after opening, customers are queuing in line to enter the store – typical waiting time is about 2 hours, daily number of visitors to the store are estimated ot be about 8000/day.

    Closest foreign competitors in Japan include US retailer GAP, and Spanish retailer Inditex (Diseno Textil SA)’s ZARA.

    Biggest Japanese competitor is Fast Retailing’s UNIQLO.

    H&M is preparing to open the second and third stores in Shibuya (photo below) and in Harajuku.

    Our comments:

    H&M has had a very successful start and has created a successful opening “event”. To be successful longterm H&M will have to:

    • sufficiently tune to Japan,
    • continue to innovate,
    • compete successfully especially with UNIQLO

    H&M opening in Ginza
    H&M opening in Ginza

    H&M's building in Ginza
    H&M’s building in Ginza

    H&M in Tokyo-Ginza
    H&M in Tokyo-Ginza

    H&M building the second store in Tokyo-Shibuya
    H&M building the second store in Tokyo-Shibuya

    Copyright·©2013 ·Eurotechnology Japan KK·All Rights Reserved·

  • Warren Buffet’s Iscar Ltd of Israel acquired Japanese tungsten carbide tool maker Tungaloy for US$ 1 billion

    Warren Buffet’s Iscar Ltd of Israel acquired Japanese tungsten carbide tool maker Tungaloy for US$ 1 billion

    22 Sept 2008, author: Gerhard Fasol

    The Israeli company Iscar has completed the acquisition of Japanese competitor Tungaloy Corporation. Iscar acquired more than 90% of outstanding shares for around US$ 1 billion from Nomura Principal Finance Co.

    Iscar is the world’s second largest maker of tungsten carbide cutting tools, and competitor Tungaloy is the world’s fifth largest. Iscar is controlled by Warren Buffet’s Berkshire Hathaway Inc. – Berkshire Hathaway acquired 80% of Iscar for US$ 4 billion in 2006.

    The merged Iscar and Tungaloy will be better positioned to compete with global leader Sandvik AB, which has sales on the order of US$ 4 Billion.

    Tungaloy Corporation emerged via a management buyout from Toshiba Tungaloy, with Nomura Principal Finance Co. as the largest share holder. Tungaloy has sales of YEN 50 Billion (approx. US$ 500 million), was founded in 1934, and has 2618 employees. Tungaloy is the fifth largest maker of Tungsten Carbide cutting tools in the world.

    Iscar entered Japan’s market by opening a 100% owned subsidiary company in 1994, about 14 years ago.

    To my knowledge this acquisition is also far larger than any acquisition in Japan by any European Union (EU) company this year (last year, in 2007 Permira announced the acquisition of Arysta LifeScience Corporation for US$ 2.2 Billion and completed the deal during 2008). The three largest acquisitions ever of Japanese companies by EU companies have been Vodafone’s acquisition of J-Phone (transaction value: about US$ 20 Billion), Daimler’s acquisition of Mitsubishi Motors (transaction value: about US$ 2-3 Billion), and Renault’s investment in Nissan (initial transaction value: about US$ 3 Billion) – of these three, only the Renault investment in Nissan was successful, the other two failed.

    Copyright notice:

    Warren Buffet: Warren Buffett at the 2015 SelectUSA Investment Summit.

    Permission (commons.wikipmedia.org):

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    This file has been identified as being free of known restrictions under copyright law, including all related and neighboring rights.
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    Copyright (c) 2013 Eurotechnology Japan KK All Rights Reserved

  • Cirquent becomes subsidiary of NTT DATA

    Cirquent becomes subsidiary of NTT DATA

    NTT Data and BMW agreed today, that NTT Data will acquire 72.9% of outstanding shares of Cirquent GmbH

    NTT Data thus gains BMW as largest customer in Europe

    Today, August 1, 2008, NTT Data and BMW agreed, that NTT Data will acquire 72.9% of the outstanding shares of Cirquent GmbH in order to globalize.

    Cirquent was part of the BMW Group, and is Germany’s 7th biggest system integrator

    Between 1992-2008 Cirquent was part of the BMW Group. Cirquent is No. 7 in the Luenendonk ranking of German system integrators. Among Cirquent customers are BMW, Deutsche Boerse, Muenchner Rueck (reinsurer), and T-Mobile Germany. Cirquent has about 1800 employees and achieved sales of EURO 286 Million in 2007.

    Cirquent share ownership ratios after this acquisition:

    • 72.9% NTT Data
    • 25.1% BMW AG
    • 2% Cirquent GmbH employees

    After this acquisition, BMW becomes NTT Data’s largest customer in Europe. We consider this acquisition an excellent move by NTT Data, NTT Data acquired Germany’s 7th largest system integrator, including about 1000 highly qualified employees, and at the same time also gained BMW as largest customer in Europe, together with a number of other blue chip customers such as Deutsche Boerse, Muencher Rueck and T-Mobile Germany.

    Read more about Japan’s telecom sector in our J-COMM report.

    Copyright·©2013 ·Eurotechnology Japan KK·All Rights Reserved·

  • TDK acquires passive electronic component maker EPCOS

    Acquisition value of YEN 200 Billion (approx. US$ 1.859 billion)

    by Gerhard Fasol

    EPCOS becomes part of 100% owned subsidiary TDK-EPC Corporation

    On July 31, 2008 TDK launched an offer to buy all outstanding shares of EPCOS, thus acquiring 100% of EPCOS.

    Value of the acquisition transaction was on the order of YEN 200 Billion (approx. US$ 1.859 billion)

    EPCOS

    EPCOS was created in 1999 from Siemens-Matsushita Components, which was a joint venture between SIEMENS and Matsushita, created in 1989.

    TDK-EPC Corporation

    TDK-EPC Corporation is a 100% owned subsidiary of TDK Corporation, and was formed on October 1, 2009 following the acquisition of EPCOS by TDK.

    The company combines the electronic components business of TDK with EPCOS AG and its subsidiaries.

    The company has about 36,000 employees globally, and global sales are approx. EURO 1.8 Billion (in FY 2012).

    Products are mainly passive electronic components, including:

    • capacitors
    • ceramic components
    • EMC filters
    • inductors
    • resistors
    • RF modules
    • surface acoustic wave components (ASW filters)
    • surge arresters
    • ferrites

    Japan electronics industries – mono zukuri. Preview this report:

    Japan electronics industries: mono zukuri

    Copyright 2008-2015 Eurotechnology Japan KK All Rights Reserved

  • A European perspective on M&A in Japan

    A European perspective on M&A in Japan

    Presentation at the lunch meeting of the Danish Chamber of Commerce in Japan (DCCJ) on June 4, 2008.

    Announcement

    Photos of the event

    Announcement text:

    With the very high EURO and low valuations of many Japanese companies, and with changing attitudes in Japan, now is an excellent time for European companies to start or expand business in Japan.

    There are many ways to start or expand business in Japan, and acquiring a Japanese company is one of the paths often selected by European companies to grow in Japan.

    Some acquisitions of Japanese companies by European corporations have led to fantastic successes – while others have led to catastrophic failures.

    The presentation will discuss the key factors for European companies to succeed in acquiring a Japanese company, and some of the key reasons for failure, based on the speakers 23 years of experience with Japan’s high-tech sector.

    Copyright·©2013 ·Eurotechnology Japan KK·All Rights Reserved·

  • Seminar in London: "M&A in Japan" (Friday 18 April 2008, 12:30-14:30)

    Seminar Description:

    Two practitioners from Tokyo will debate the changes in Japanese attitudes to mergers and acquisitions. During the course of this seminar, we will cover M&As between Japanese companies, the slow impact of foreign investment into Japan, and the outward investment strategies of Japanese companies.

    Speakers:

    Dr Gerhard Fasol, President, Eurotechnology Japan KK

    David Syrad, Managing Director/Managing Director Asia, A.K.I. Japan Limited

    Time and Date:

    Friday April 18, 2008, Sandwiches: 12:30, Seminar: 13:00-14:30

    Location:

    Daiwa Foundation Japan House, 13/14 Cornwall Terrace, London, NW1 4QP

    Price: free of charge

    To register: biz @ aptn.org

    Organizer contact: Louis Turner Tel. +44 – 790 5204 677

    More information:

    www.aptn.org

    Copyright·©2013 ·Eurotechnology Japan KK·All Rights Reserved·

  • Yamaha acquires Bösendorfer Klavierfabrik GmbH

    Yamaha acquires Bösendorfer Klavierfabrik GmbH

    Yamaha Corporation acquires Vienna based 170 year old piano manufacturer

    Yamaha acquires Bösendorfer: Vienna piano manufacturer L. Bösendorfer Klavierfabrik GmbH founded in 1828

    L. Bösendorfer Klavierfabrik GmbH was founded in 1828 in Vienna (Austria), and is one of the world’s most respected piano manufacturers. Bösendorfer was sold to a US wood manufacturing company, later by an Austrian Bank, which itself was acquired by a US investment fund, and as a consequence the Japanese company Yamaha acquired 100% of L. Bösendorfer Klavierfabrik GmbH. The acquisition was announced on 21 December 2007, and is expected to be completed early in 2008.

    Yamaha acquires Bösendorfer
    Yamaha acquires L. Bösendorfer Klavierfabrik GmbH

    L. Bösendorfer Klavierfabrik GmbH

    L. Bösendorfer Klavierfabrik GmbH was founded on 25th July 1828 in Vienna (Austria) by Ignaz Bösendorfer.

    The company gained the distinction “k.k. Hof-Claviermacher” (Piano Maker by appointment to the Royal and Imperial Court of Austria) in 1839, and in 1858 was elevated to the title “Kammerlieferant des Kaisers”.

    Franz List, who was known for his vigorous key play, played largely on Bösendorfer Pianos which could cope well with Franz List’s forceful style.

    The company went through many difficulties caused by the wars.

    1966 the company was sold to the US company Kimball International.

    2002 the company was acquired by the Austrian Bank BAWAG. BAWAG itself went through a crisis and was acquired by the US fund Cerberus, leading to the sale of L. Bösendorfer Klavierfabrik GmbH to Yamaha.

    Founded: 25 February 1828
    Employees: 180
    Net sales: approx. € 13.5 million (Fiscal Year 2006)
    Total assets: approx. € 15.7 million (Fiscal Year 2006)

    Yamaha Corporation (ヤマハ株式会社) TSE 7951

    Yamaha Corporation (ヤマハ株式会社) (Tokyo Stock Exchange TSE 7951) was founded on 12 October 1887 by Torakusu Yamaha (山葉寅楠) as Nippon Gakki Company, Limited (日本楽器製造株式会社) (= Japan Musical Instrument Manufacturing Corporation) in Hamamatsu, Shizuoka-Prefecture, as a manufacturer of musical instruments.

    Revenues: YEN 432 billion (US$ 4 billion) (FY ending March 2015)
    Employees: 19,967 (March 2015)

    Products include:

    • musical instrument
    • electronics
    • motorcycles
    • power sports equipment
    • …

    Copyright (c) 2007-1016 Eurotechnology Japan KK All Rights Reserved