56-453: Emami Group is an Indian multinational conglomerate headquartered in Kolkata . The company caters to a number of niche categories in the personal care and healthcare segments. The company's products are sold across 60+ nations and are available in 4.5 million retail outlets across India. The company has seven manufacturing units across India and one overseas unit. Among its prominent brands
112-429: A market inefficiency , which undervalues the true strength of these stocks. In her 1999 book No Logo , Naomi Klein provides several examples of mergers and acquisitions between media companies designed to create conglomerates to create synergy between them: A relatively new development, Internet conglomerates, such as Alphabet , Google's parent company belong to the modern media conglomerate group and play
168-641: A business organization or establish and register a branch or representative office. Previously, foreign entity registration was handled through the National Registration Center, which had implemented a streamlined "one-stop-shop" system since September 1, 2007. However, on November 26, 2015, the enactment of Law No. 131/2015 led to the formation of the National Business Center (QKB) which aimed to simplify business procedures by centralizing registration and licensing in
224-486: A disorienting and demoralizing experience for executives at acquired companies—those who were not immediately laid off found themselves at the mercy of the conglomerate's executives in some other distant city. Most conglomerates' headquarters were located on the West Coast or East Coast , while many of their acquisitions were located in the country's interior. Many interior cities were devastated by repeatedly losing
280-549: A focus in Asia.) In Japan, a different model of conglomerate, the keiretsu , evolved. Whereas the Western model of conglomerate consists of a single corporation with multiple subsidiaries controlled by that corporation, the companies in a keiretsu are linked by interlocking shareholdings and a central role of a bank. Mitsui , Mitsubishi , Sumitomo are some of Japan's best-known keiretsu, reaching from automobile manufacturing to
336-638: A global presence and a diversified portfolio of products and services. Conglomerates can be formed by merger and acquisitions , spin-offs , or joint ventures . Conglomerates are common in many countries and sectors, such as media , banking , energy , mining , manufacturing , retail , defense , and transportation . This type of organization aims to achieve economies of scale , market power, risk diversification , and financial synergy. However, they also face challenges such as complexity, bureaucracy , agency problems, and regulation . The popularity of conglomerates has varied over time and across regions. In
392-499: A major role within various industries, such as brand management . In most cases, Internet conglomerates consist of corporations that own several medium-sized online or hybrid online-offline projects. In many cases, newly joined corporations get higher returns on investment , access to business contacts, and better rates on loans from various banks. Similar to other industries many companies can be termed as conglomerates. List of legal entity types by country A business entity
448-435: A set of assets organized to do business. Działalność gospodarcza ('economic activity') is the closest equivalent of business. As of January 2021, there are at least six different definitions of economic activity, enshrined in the following acts: Except for the spółki osobowe (partnerships), all are juridical persons . From business perspective spółki z ograniczoną odpowiedzialnością (limited liability companies) are
504-531: A single institution. Consequently, the National Registration Center and the National Licensing Center were abolished. There are three main types of business entity in Brunei, namely sole proprietorship , partnership , and company . A private company contains the term "Sendirian Berhad", meaning "Private Limited" or "Sdn. Bhd." as part of its name; for a public company "Berhad" or "Bhd."
560-639: A small slice of many companies in a fund rather than owning shares in a conglomerate. Another example of a successful conglomerate is Warren Buffett 's Berkshire Hathaway , a holding company which used surplus capital from its insurance subsidiaries to invest in businesses across a variety of industries. The end of the First World War caused a brief economic crisis in Weimar Germany , permitting entrepreneurs to buy businesses at rock-bottom prices. The most successful, Hugo Stinnes , established
616-402: Is a type of multi-industry company that consists of several different and unrelated business entities that operate in various industries. A conglomerate usually has a parent company that owns and controls many subsidiaries , which are legally independent but financially and strategically dependent on the parent company. Conglomerates are often large and multinational corporations that have
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#1732773086479672-656: Is an entity that is formed and administered as per corporate law in order to engage in business activities, charitable work, or other activities allowable. Most often, business entities are formed to sell a product or a service. There are many types of business entities defined in the legal systems of various countries. These include corporations , cooperatives , partnerships , sole traders , limited liability companies and other specifically permitted and labelled types of entities. The specific rules vary by country and by state or province. Some of these types are listed below, by country. For guidance, approximate equivalents in
728-485: Is antiseptic cream named BoroPlus. The company's skin care division generated an overall revenue of ₹ 2,655 crores in the financial year 2019–20 with an annual profit of ₹ 639 crores. The total group revenue of the company stands at ₹20,000 crores. The inception of Emami Group took place way back in mid-seventies, in West Bengal, when two childhood friends, R.S. Agarwal and R.S. Goenka left their corporate jobs with
784-472: Is currently China's largest civilian-run conglomerate by revenue. In South Korea , the chaebol is a type of conglomerate owned and operated by a family. A chaebol is also inheritable, as most of the current presidents of chaebols succeeded their fathers or grandfathers. Some of the largest and most well-known Korean chaebols are Samsung , LG , Hyundai Kia and SK . In India, family-owned enterprises became some of Asia's largest conglomerates, such as
840-446: Is or in combination with Finnish, e.g. Oy Yritys Ab . In the corporations of real estate law, the ownership or membership may be vested either in the real property or in a legal or natural person, depending on the corporation type. In many cases, the membership or ownership of such corporation is obligatory for a person or property that fulfils the legal requirements for membership or wishes to engage in certain activities. Companies of
896-670: Is used. In Canada entities can be incorporated under either federal or provincial (or territorial) law. The word or expression "Limited", Limitée , "Incorporated", Incorporée , "Corporation" or Société par actions de régime fédéral or the corresponding abbreviation "Ltd.", Ltée , "Inc.", "Corp." or S.A.R.F. forms part of the name of every entity incorporated under the Canada Business Corporations Act (R.S., 1985, c. C-44). ≈ Ltd. or Plc (UK) As an exception, entities registered prior to 1985 may continue to be designated Société commerciale canadienne or by
952-571: The Aditya Birla Group , Tata Group , Emami , Kirloskar Group , Larsen & Toubro , Mahindra Group , Bajaj Group , ITC Limited , Essar Group , Reliance Industries , Adani Group and the Bharti Enterprises . In Brazil the most important conglomerates are J&F Investimentos , Odebrecht , Itaúsa , Camargo Corrêa , Votorantim Group , Andrade Gutierrez , and Queiroz Galvão. In New Zealand, Fletcher Challenge
1008-576: The Birla Group to set up Kemco Chemicals, a cosmetic manufacturing unit in Kolkata, in 1974. In 1978, it acquired the agri-product company Himani. The company reported significant growth in modern trade and e-commerce revenues during the COVID-19 pandemic. It also re-launched Navratna Cool Talc and Zandu Pancharishta with a different formulation, packaging and communication. Emami also forayed into
1064-614: The Companies Act of 2005. There are currently (2015) 4 types and each of them has legal personality: Partnerships are referred to as kumiai (組合). Each of these 4 types has no legal personality though other corporations, which include " kumiai " in their name, have: Note: Any of these entities can be incorporated as a "Capital Variable" entity, in which case has to add the "de C.V." sufix to its company name. Example: "S.A. de C.V.", "S. de R.L. de C.V." one of above mentioned form (Preduzetnik; O.D.; K.D.; A.D.; D.O.O.), as such it
1120-514: The Dermicool brand from the UK -headquartered company, Reckitt for ₹432 crores (£43 million). In 2007, the company attracted controversy with an advertisement for its skin whitening cream for men, Fair and Handsome. Emami and the star of the campaign, Shahrukh Khan , were accused of perpetuating racism. In July 2013, WOW a Chennai-based NGO launched a campaign against Emami asking them to remove
1176-504: The Polish law . The usage of the equivalent terms in the Polish legal system may often be confusing because each of them has several different definitions for various purposes. Przedsiębiorca ('entrepreneur' or 'undertaking')—known as kupiec ('merchant') until 1964; jednostka gospodarcza ('economic unit') from 1964 to 1988; podmiot gospodarczy ('economic entity') from 1988 to 1997—is
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#17327730864791232-548: The United Kingdom below, though without the class Community Interest Company . There were two forms of Company Limited by Guarantee, but only the form without a share capital is now used. Irish names may also be used, such as cpt ( cuideachta phoibli theoranta ) for plc, and Teo (Teoranta) for Ltd. All non-governmental legal entities are registered on the companies register by the chamber of commerce . No universal definitions of company and business exist in
1288-652: The United States , conglomerates became popular in the 1960s as a form of economic bubble driven by low interest rates and leveraged buyouts. However, many of them collapsed or were broken up in the 1980s due to poor performance, accounting scandals, and antitrust regulation. In contrast, conglomerates have remained prevalent in Asia, especially in China , Japan , South Korea , and India . In mainland China , many state-affiliated enterprises have gone through high value mergers and acquisitions , resulting in some of
1344-579: The highest value business transactions of all time. These conglomerates have strong ties with the government and preferential policies and access to capital. During the 1960s, the United States was caught up in a "conglomerate fad " which turned out to be a form of an economic bubble . Due to a combination of low interest rates and a repeating bear-bull market , conglomerates were able to buy smaller companies in leveraged buyouts (sometimes at temporarily deflated values). Famous examples from
1400-440: The 1960s include Gulf and Western Industries , Ling-Temco-Vought , ITT Corporation , Litton Industries , Textron , and Teledyne . The trick was to look for acquisition targets with solid earnings and much lower price–earnings ratios than the acquirer. The conglomerate would make a tender offer to the target's shareholders at a princely premium to the target's current stock price. Upon obtaining shareholder approval,
1456-627: The 1980s, General Electric also moved into financing and financial services , which in 2005 accounted for about 45% of the company's net earnings. GE formerly owned a minority interest in NBCUniversal , which owns the NBC television network and several other cable networks . United Technologies was also a successful conglomerate until it was dismantled in the late 2010s. With the spread of mutual funds (especially index funds since 1976), investors could more easily obtain diversification by owning
1512-590: The Code of Companies and Associations, the term "Private limited liability company" (BVBA/SPRL) automatically became "Private limited company" (BV/SRL), as a part of harmonising legal entity types within the European Union. Types of legal person business entities: Types of natural person business entities: Non-profit: The abbreviations are usually in Finnish, but Swedish names may also be used either as
1568-465: The Fair and Handsome advertisement starring Khan, saying that it is discriminating against people on the basis of skin color. The campaign has been supported by celebrities like Nandita Das Tannishta Chatterjee. More than 22,000 people have signed an online petition launched by them. In the early morning of 9 December 2011, an AMRI Hospital in south Kolkata's Dhakuria district erupted in fire, leading to
1624-632: The KRS exclusively for the purpose of official recognition as a charity (public benefit organization – see above), if they are eligible for, apply for and obtain such. Societăți comerciale , abbreviated SC (Companies): limited liability company "societate cu raspundere limitata" (SRL); Most of the legal entity types are regulated in a modified version of the original version of the Dutch Burgerlijk Wetboek . Business corporations are referred to as kaisha (会社) and are formed under
1680-557: The KRS, but are still obligated (except for the State Treasury as a whole) to obtain NIP and REGON numbers by registering in the relevant registers, and are usually still subject to the general taxation rules (including VAT); examples of such situations include: Some of the abovementioned types of entities (e.g. hunting clubs, church entities), other than the state or self-governmental ones, may nevertheless be subject to registration in
1736-627: The ULC is classified as a disregarded entity. Rather, Canadian businesses are generally formed under one of the following structures: Companies include two types, Other than companies, ordinary firms include other two types: (See also Partnership (China) ) See also help.gv.at Archived 2015-12-26 at the Wayback Machine (Austrian government site, in German) Dutch , French or German names may be used. Following changes to
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1792-603: The United States, some of the examples are The Walt Disney Company , Warner Bros. Discovery and The Trump Organization (see below). In Canada, one of the examples is Hudson's Bay Company . Another such conglomerate is J.D. Irving, Limited , which controls a large portion of the economic activities as well as media in the Province of New Brunswick . Some cite the decreased cost of conglomerate stock (a phenomenon known as conglomerate discount ) as evidential of these disadvantages, while other traders believe this tendency to be
1848-555: The Zandu deal. The company's health products unit offers tonics for colds and coughs as well as nutraceuticals . It forayed into men's deodorant market by launching HE brand of deodorants. Hrithik Roshan was appointed as brand ambassador for HE brand. The company acquired Splash Corporation for ₹ 200 crore. A German personal care brand Creme 21 was acquired by Emami for ₹ 100 crores in February 2019. In March 2022, Emami acquired
1904-931: The abbreviation S.C.C. Under the Canada Cooperatives Act (1998, c. 1), a co-operative must have the word "cooperative", "co-operative", "coop", "co-op", coopérative , "united" or "pool", or another grammatical form of any of those words, as part of its name. Unlike in many other Western countries, Canadian businesses generally only have one form of incorporation available. Unlimited liability corporations can be formed in Alberta "AULC", British Columbia "BCULC" and Nova Scotia "NSULC". The aforementioned unlimited liability corporations are generally not used as operating business structures, but are instead used to create favorable tax positions for either Americans investing in Canada or vice versa. For U.S. tax purposes
1960-472: The closest equivalent of company understood as an entity. As of January 2021, there are at least thirteen different definitions of entrepreneur/undertaking, enshrined in the following acts: Przedsiębiorstwo ('enterprise') is defined in the Civil Code as an organized complex of material and non-material components designated to perform economic activity. Therefore, it is equivalent to company understood as
2016-561: The company law of English-speaking countries are given in most cases, for example: However, the regulations governing particular types of entities, even those described as roughly equivalent, differ from jurisdiction to jurisdiction. When creating or restructuring a business, the legal responsibilities will depend on the type of business entity chosen. Foreign and domestic investors have a range of options to establish and organize their business in Albania . They can either create and register
2072-455: The conglomerate usually settled the transaction in something other than cash, like debentures , bonds , warrants or convertible debentures (issuing the latter two would effectively dilute its shareholders down the road, but many shareholders at the time were not thinking that far ahead). The conglomerate would then add the target's earnings to its earnings, thereby increasing the conglomerate's overall earnings per share . In finance jargon,
2128-470: The criminal actions are undertaken knowingly but without the intention to cause death. Additional charges were laid under Section 308 (attempt to commit culpable homicide) and Section 38 (effect caused partly by act and partly by omission). The fire was recorded as the largest hospital tragedy in India at the time. Conglomerate (company) A conglomerate ( / k ə ŋ ˈ ɡ l ɒ m ə r ə t / )
2184-482: The deaths of 92 people – mostly critically ill patients, many of them suffocating in their sleep. The following day, the license for the hospital was canceled, and the Chief Minister of West Bengal ordered a judicial inquiry into the incident. Allegedly, the fire was triggered by flammable chemicals that were stored at the site. Rescue efforts were hampered by the narrowness and congestion of the road leading to
2240-467: The end came in January 1968, when Litton shocked Wall Street by announcing a quarterly profit of only 21 cents per share, versus 63 cents for the previous year's quarter. This was "just a decline in earnings of about 19 percent", not an actual loss or a corporate scandal, and "yet the stock was crushed, plummeting from $ 90 to $ 53". It would take two more years before it was clear that the conglomerate fad
2296-771: The examples are Adamjee Group , Dawood Hercules , House of Habib , Lakson Group and Nishat Group . In the Philippines , the largest conglomerate of the country is the Ayala Corporation which focuses on malls , bank , real estate development , and telecommunications . The other big conglomerates in the Philippines included JG Summit Holdings , Lopez Holdings Corporation , ABS-CBN Corporation , GMA Network, Inc. , MediaQuest Holdings , TV5 Network, Inc. , SM Investments Corporation , Metro Pacific Investments Corporation , and San Miguel Corporation . In
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2352-419: The following. Certain types of juridical persons or other collective legal entities which have been established otherwise than by registration in the KRS, may in few situations be authorized by law to perform business activity (sometimes of a limited scope and/or scale, along with their main, often non-commercial or not-for-profit activity), despite remaining excluded and exempt from the obligation to register in
2408-485: The hand sanitizer category as the demand for hand sanitizers shot up due to the coronavirus crisis. The company's brands include Navratna, BoroPlus, Zandu, Mentho Plus, Kesh King, Fair and Handsome. The company is a major player in fairness cream products for men. Emami's brands: In 2008, Emami acquired Zandu Pharmaceutical for ₹730 crores. The company merged Zandu FMCG into Emami and raised ₹ 310 crores through QIP . The company became debt free within 2 years of
2464-719: The headquarters of corporations to mergers, in which independent ventures were reduced to subsidiaries of conglomerates based in New York or Los Angeles. Pittsburgh, for example, lost about a dozen. The terror instilled by the mere prospect of such harsh consequences for executives and their home cities meant that fending off takeovers, real or imagined, was a constant distraction for executives at all corporations seen as choice acquisition targets during this era. The chain reaction of rapid growth through acquisitions could not last forever. When interest rates rose to offset rising inflation, conglomerate profits began to fall. The beginning of
2520-518: The hospital chain, who were charged with negligently causing the deaths. Ultimately a total of 16 people stood accused in the courts in July 2016, including the board members and several directors of the hospital. Amongst the charges were culpable homicide not amounting to murder under section 304 of the Indian Penal Code, which carries a maximum sentence of 10 years' imprisonment in cases where
2576-576: The hospital, and the allegations that all of the windows and doors were locked and that the fire alarms and sprinklers installed at the hospital did not work during the fire. Seven members of the hospital's board were arrested the same day, and were remanded to police custody until 20 December by the court of the Chief Judicial Magistrate in Alipore . Among the seven arrested were Agarwal and Goenka, founders of Emami and directors of
2632-830: The most popular forms of legal entities in Poland as approx. 96% of foreign investments is performed in this legal form. All the following types are juridical persons: In addition, any juridical persons or other legal entities (including those originally or otherwise exempt from the registration in the KRS – see below) also have to register, if they apply for and obtain the status of an officially recognized charity ( organizacja pożytku publicznego = public benefit organization), when eligible; however, as an exception, registration solely for that purpose neither confers juridical personality to entities lacking one, nor does it create obligation or right to register as an entrepreneur. Types of entities excluded from registration as entrepreneurs include
2688-503: The most powerful private economic conglomerate in 1920s Europe – Stinnes Enterprises – which embraced sectors as diverse as manufacturing, mining, shipbuilding, hotels, newspapers, and other enterprises. The best-known British conglomerate was Hanson plc . It followed a rather different timescale than the U.S. examples mentioned above, as it was founded in 1964 and ceased to be a conglomerate when it split itself into four separate listed companies between 1995 and 1997. In Hong Kong, some of
2744-652: The new businesses they had recently purchased, and by the mid-1970s most conglomerates had been reduced to shells. The conglomerate fad was subsequently replaced by newer ideas like focusing on a company's core competency and unlocking shareholder value (which often translate into spin-offs ). In other cases, conglomerates are formed for genuine interests of diversification rather than manipulation of paper return on investment. Companies with this orientation would only make acquisitions or start new branches in other sectors when they believed this would increase profitability or stability by sharing risks. Flush with cash during
2800-714: The production of electronics such as televisions. While not a keiretsu, Sony is an example of a modern Japanese conglomerate with operations in consumer electronics , video games , the music industry , television and film production and distribution , financial services , and telecommunications . In China, many of the country's conglomerates are state-owned enterprises , but there is a substantial number of private conglomerates. Notable conglomerates include BYD , CIMC , China Merchants Bank , Huawei , JXD , Meizu , Ping An Insurance , TCL , Tencent , TP-Link , ZTE , Legend Holdings , Dalian Wanda Group , China Poly Group , Beijing Enterprises , and Fosun International . Fosun
2856-406: The transaction was " accretive to earnings." The relatively lax accounting standards of the time meant that accountants were often able to get away with creative mathematics in calculating the conglomerate's post-acquisition consolidated earnings numbers. In turn, the price of the conglomerate's stock would go up, thereby re-establishing its previous price-earnings ratio, and then it could repeat
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#17327730864792912-654: The type "Anónimi Etaireía" would translate this designation into the French translation société anonyme or S.A. in non-Greek languages. In Hungary, business entities are mainly regulated by the Companies Act of 2006, the Companies Registration Act of 2006 and the new Civil Code of 2013. All companies are required to indicate their type in their name. The situation in Ireland is similar to
2968-425: The well-known conglomerates include Jardine Matheson (AD1824), Swire Group (AD1816), (British companies, one Scottish one English; companies that have a history of over 150 years and have business interests that span across four continents with a focus in Asia.) C K Hutchison Whampoa (now CK Hutchison Holdings ), Sino Group , (both Asian-owned companies specialize business such as real estate and hospitality with
3024-668: The whole process with a new target. In plain English, conglomerates were using rapid acquisitions to create the illusion of rapid growth. In 1968, the peak year of the conglomerate fad, U.S. corporations completed a record number of mergers: approximately 4,500. In that year, at least 26 of the country's 500 largest corporations were acquired, of which 12 had assets above $ 250 million. All this complex company reorganization had very real consequences for people who worked for companies that were either acquired by conglomerates or were seen as likely to be acquired by them. Acquisitions were
3080-462: Was formed in 1981 from the merger of Fletcher Holdings , Challenge Corporation, and Tasman Pulp & Paper, in an attempt to create a New Zealand-based multi-national company. At the time, the newly merged company dealt in construction, building supplies, pulp and paper mills, forestry, and oil & gas. Following a series of bungled investments, the company demerged in the early 2000s to concentrate on building and construction. In Pakistan , some of
3136-487: Was on its way out. The stock market eventually figured out that the conglomerates' bloated and inefficient businesses were as cyclical as any others—indeed, it was that cyclical nature that had caused such businesses to be such undervalued acquisition targets in the first place —and their descent put "the lie to the claim that diversification allowed them to ride out a downturn." A major selloff of conglomerate shares ensued. To keep going, many conglomerates were forced to shed
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