Topy Industries, Limited
(Cancellation of Disclosure) Notice Regarding the Cancellation of Equity Transfer in a Consolidated Subsidiary (Change of Grandchild Company)
Cancelled the full equity transfer of Lintex Guangzhou, a grandchild company of consolidated subsidiary Lintex Co., Ltd., due to breach of contract by the transferee. Announced that the impact on business results is minor.
Key Figures
- Decision date of cancellation of equity transfer: 2026-02-06
- Contract termination due to transferee’s contract breach
- Impact on business results: Minor
AI要約
Overview of Cancellation of Equity Transfer
Topy Industries, Limited had planned to transfer all equity of Rintacers (Guangzhou) Auto Parts Co., Ltd., a wholly owned subsidiary of the consolidated subsidiary Lintex Co., Ltd., but decided to cancel the transfer by terminating the contract due to the transferee’s breach of contractual obligations. This was part of the existing business structural reforms under the medium-term management plan 'TOPY Active & Challenge 2027.'
Future Outlook
The impact on consolidated business results from this matter is minor, and if any disclosures become necessary in the future, they will be promptly announced. We will continue to promote structural reforms of existing businesses and work on restructuring the Chinese steel wheel business.
