Strengthening Group Management and Subsidiary Oversight

「As 株式会社FLトクヤマ, which had been a consolidated subsidiary through the previous consolidated fiscal year, ceased to exist following an absorption-type merger in which the company was the surviving company, it has been excluded from the scope of consolidation from the current interim consolidated accounting period.」

「新第一塩ビ manufactures and sells polyvinyl chloride resin using our products as raw materials. We have decided to carry out an absorption-type merger to improve organizational operating efficiency.」

「At a meeting of the Board of Directors held on 21 April 2022, the company resolved to revise its basic policy for developing an internal control system. The policy was revised to explicitly state the company's approach to internal control and place greater emphasis on Group management.」

「As 株式会社トクヤマロジスティクス, which had been a specified subsidiary, ceased to exist following an absorption-type merger in which the consolidated subsidiary 徳山海陸運送株式会社 was the surviving company on 1 October 2020, it has been excluded from the scope of consolidation from the current third-quarter consolidated accounting period.」

「We acquired all shares of 徳山海陸運送株式会社, which operates an integrated logistics business, making it a wholly owned subsidiary. In cooperation with the existing Group company 株式会社トクヤマロジスティクス, this is expected to expand the logistics network and enable stable product supply to customers throughout the Group.」

「We will clarify the role of each Group company once again, require contributions to the Group's growth strategy and cost reductions, and further strengthen management control across the Group.」