Taiheiyo Cement Corporation
Notice Regarding Transfer of Equity Interest in Our Consolidated Subsidiary
Taiheiyo Cement will transfer an 88.51% equity interest in its consolidated subsidiary Jiangnan-Onoda Cement Co., Ltd. to Nanjing Yida Vertical-Horizontal Building Materials Co., Ltd. for approximately 1,340 million yen, scheduled for execution in March 2026.
Key Figures
- Equity Interest Transfer Ratio: 88.51%
- Transfer Price: 60 million RMB (approximately 1,340 million yen)
- Scheduled Transfer Execution Date: March 2026
AI要約
Overview of the Equity Transfer
Taiheiyo Cement Corporation has decided to transfer its entire 88.51% equity interest in consolidated subsidiary Jiangnan-Onoda Cement Co., Ltd. to Nanjing Yida Vertical-Horizontal Building Materials Co., Ltd. Jiangnan-Onoda ceased its cement manufacturing and sales business in Nanjing City, Jiangsu Province, China in February 2023 and has been proceeding with withdrawal operations. The transfer price is 60 million RMB (approximately 1,340 million yen), recognized as fair value. The transfer is scheduled for execution in March 2026, after which Jiangnan-Onoda will be excluded from the consolidated subsidiaries.
Future Outlook and Impact
This equity interest transfer is expected to have only a minor impact on the consolidated earnings forecast for the fiscal year ending March 2026. The proceeds from the transfer will be used as investment funds for projects and regions with growth potential, aiming to enhance the corporate value of the Group. There are no capital, personnel, or transactional relationships with Nanjing Yida Vertical-Horizontal Building Materials Co., Ltd., and it is not considered a related party.
