NITTAN Corporation
Notice Regarding Completion of the Change of Equity Method Affiliates to Consolidated Subsidiaries
Completed the consolidation of Shinwa Seimitsu Co., Ltd. and three other subsidiaries. Due to changes in equity-method affiliates, RYS and STP are also scheduled to become consolidated subsidiaries. The transfer agreement date and execution date were延期・変更, and the share transfer was completed on June 15, 2026. The impact on the fiscal year ending March 2027 from the first quarter onward is under assessment.
Key Figures
- Shinwa Seimitsu Co., Ltd.: Sales 63,919 million KRW → 66,572 million KRW → 61,169 million KRW, Net income 6,820 million KRW → 5,475 million KRW → 6,500 million KRW
- Rizhao Liucheng Shinwa Automobile Parts Co., Ltd.: Sales 53,373 million RMB → 71,901 million RMB → 95,519 million RMB, Net income 5,319 million RMB → 4,603 million RMB → 8,113 million RMB
- STP Co., Ltd.: Sales 11,356 million KRW → 12,989 million KRW → 12,288 million KRW, Net income 1,125 million KRW → 1,570 million KRW → 1,273 million KRW
AI要約
Overview of consolidation
This notice is a follow-up on changes involving equity-method affiliates and consolidation. It discloses that Shinwa Seimitsu Co., Ltd., along with RYS and STP Co., Ltd., are expected to become consolidated subsidiaries of NITTAN. Shinwa Seimitsu has a Korean presence; RYS is a 100% subsidiary of Shinwa Seimitsu, and STP is a Korean company related to Shinwa Seimitsu, with voting rights percentages of 51% and 26.01%, respectively. The signing date of the transfer agreement and the execution date of the share transfer were postponed, and the share transfer was completed on June 15, 2026. The effective consolidation start is expected to be the first quarter of the fiscal year ending March 2027, and the impact is currently being assessed.
Impact and outlook
As a result of this change, Shinwa Seimitsu, RYS, and STP are scheduled to become NITTAN’s consolidated subsidiaries. While impacts are expected from the first quarter of the fiscal year ending March 2027, specific financial effects are under assessment, and any further disclosures will be made promptly if available. One factor for the change in transfer schedule is that negotiations on contract terms took longer than expected.
NITTAN Co., Ltd.
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