Transfer of Tokuyama Malaysia to OCI and Its Exclusion from the Scope of Consolidation
First written in FY2017-Q2. 2 of 5 entries say "Cited as achieved", first in FY2018-Q2. Latest entry: FY2019-Q2.
24 other companies' latest entry also says "Cited as achieved".
- FY2019-Q2Cited as achievedAnnual report
「Tokuyama Malaysia Sdn.Bhd., formerly a specified subsidiary, was excluded from the scope of consolidation from the first-quarter consolidated accounting period because we sold all of the shares we held. As the sale date was 31 May 2017, the second-quarter cumulative period includes its results from 1 April 2017 through 31 May 2017.」
The sale of all shares in Tokuyama Malaysia and its exclusion from the scope of consolidation are restated as completed transactions. - FY2018-Q2Cited as achievedAnnual report
「Tokuyama Malaysia Sdn.Bhd., formerly a specified subsidiary, was excluded from the scope of consolidation from the first-quarter consolidated accounting period because we sold all of the shares we held. As the sale date was 31 May 2017, the second-quarter cumulative period includes its results from 1 April 2017 through 31 May 2017.」
The sale of all shares in Tokuyama Malaysia and its exclusion from the scope of consolidation from the first quarter are restated as completed transactions. - FY2018-Q1AchievedAnnual report
「The first third-party allotment was completed on 7 October 2016, and the second third-party allotment and transfer of all shares held by us were completed on 31 May 2017. Following completion of the share transfer, Tokuyama Malaysia was excluded from the scope of consolidation from June 2017.」
The second third-party allotment to OCI and the transfer of all 252,356,839 shares held by us were completed on 31 May 2017, and Tokuyama Malaysia was excluded from the scope of consolidation from June onward. - FY2017-Q3AdvancedAnnual report
「Payment date for the first third-party allotment to OCI: 7 October 2016」
For the third-party allotment by Tokuyama Malaysia with OCI as the subscriber, payment for the first allotment of 50 million shares for US$24 million was completed on 7 October 2016. The second allotment of 210 million shares for US$78 million and the share transfer were scheduled for 31 March 2017. - FY2017-Q2First statedAnnual report
「As a result, we concluded that transferring Tokuyama Malaysia to OCI, which operates its solar-cell business globally, including the manufacture of polycrystalline silicon, was the best option. We have therefore agreed to conduct a third-party allotment with OCI as the subscriber and subsequently transfer all shares of Tokuyama Malaysia held by us to OCI.」
The board resolution was passed on 28 September 2016 and the agreement was signed on 29 September. The first third-party allotment to OCI, comprising 50 million shares for US$24 million, was scheduled for 7 October 2016, and the second, comprising 210 million shares for US$78 million, was scheduled for 31 March 2017. Following the second allotment, our ownership interest was to be 49.3%, after which all 252,356,839 shares held by us were to be transferred for US$98 million, with Tokuyama Malaysia scheduled to be excluded from the scope of consolidation on 31 March 2017.