Kyowa Leather Cloth Co., Ltd.
Notice of Transfer of Consolidated Subsidiary to Specific Subsidiary accompanying capital increase of subsidiary
Completed a capital increase for the Indian consolidated subsidiary KYOWA INDIA PRIVATE LIMITED. The increase amount is about 1,705 million yen, post-increase capital about 1,764 million rupees, ownership stake to 99.99%, with aims to establish a local presence and expand the production system. The impact is expected to be limited, with medium- to long-term effects targeted.
Key Figures
- Capital increase amount: approx. 1,705 million rupees (29 hundred million yen)
- Capital after increase: approx. 1,764 million rupees (30 hundred million yen)
- Equity ratio: 99.99%
AI要約
Overview
共和レザー positions India expansion as a mid-term management priority and has resolved to increase capital for KYOWA INDIA PRIVATE LIMITED. The capital increase expands capital from about 59 million rupees to about 1,764 million rupees, making the company's ownership 99.99%. KI's business is the manufacturing and sales of synthetic leather products. Although establishment is not yet complete, the company intends to proceed with capital increase procedures to build local production and supply capabilities.
Impact and outlook
The impact on consolidated results is expected to be minor, but in the medium to long term the company aims to enhance corporate value through local market expansion and establishing production capabilities. Funds will be allocated for land acquisition, factory construction, and equipment investment for the local production base, accelerating full-scale entry into the Indian market.
Kyowa Leather Cloth Co., Ltd.
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