Sumitomo Seika Chemicals Company,Limited. (4008) · InitiativeAchieved
Making Sumitomo Seika Singapore a Wholly Owned Subsidiary
First written in FY2023-Q2. 1 of 2 entries say "Achieved", first in FY2023-Q3. Latest entry: FY2023-Q3.
2entries
2years
0from disclosures
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Same theme, other companies
Improving Management Efficiency through Wholly Owned Subsidiary Conversion and Intra-Group RestructuringA theme 10 companies write about · 0 as a headwind · 10 as a tailwind
5 other companies' latest entry also says "Achieved".
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Full recordFilings, disclosures and news, newest first
- FY2023-Q3AchievedAnnual report
「Non-controlling interests 3,171 —」
Following the full ownership of スミトモ セイカ シンガポール, which was indicated as planned in FY2023-Q2, non-controlling interests had fallen from ¥3,171 million to zero at the end of Q3, reflecting the post-transaction position in the financial statements. - FY2023-Q2First statedAnnual report
「The Group intends to accelerate decision-making for the SSS business by acquiring shares from non-controlling shareholders, in response to growing global demand for superabsorbent polymers. Total number of shares to be acquired: 8,602,653 shares Total acquisition price: US$24 million Acquisition date: 31 October 2022 SSS immediately cancelled all of the acquired shares. As a result, SSS is expected to become a wholly owned subsidiary of the Company, increasing capital surplus and reducing non-controlling interests to zero.」
The consolidated subsidiary スミトモ セイカ シンガポール プライベート リミテッド entered into an agreement to acquire 8,602,653 shares from non-controlling shareholders for US$24 million and cancel the acquired shares. The acquisition date is 31 October 2022, and the filing states that the transaction is expected to make the company a wholly owned subsidiary of the Company.