Consideration of management integration with Nippon Shokubai
First written in FY2019. 1 of 7 entries say "Restated". Latest entry: FY2021.
0 other companies' latest entry also says "Other".
- FY2021Finalisation of loss from terminationAnnual report
「Regarding the management integration through a joint share transfer with NIPPON SHOKUBAI CO.,LTD. (hereinafter, “NIPPON SHOKUBAI”), we entered into a final agreement concerning the integration with NIPPON SHOKUBAI as of 29 November 2019 and, as of 13 April 2020, had agreed to review the share transfer ratio and postpone the integration to 1 April 2021. However, at an extraordinary meeting of the Board of Directors held on 21 October 2020, we resolved to terminate the integration and, by agreement between the two companies, terminated the final agreement concerning the integration as of the same date.」
The annual report gives a definitive account of the termination of the management integration with NIPPON SHOKUBAI and states that a loss from termination of ¥838 million was recognised during the fiscal year. - FY2021-Q3Recognition of loss from terminationAnnual report
「Net income attributable to owners of the parent was ¥4,377 million, down 26.0% year on year, due mainly to the recognition of a loss associated with the termination of the management integration.」
The company recognised a loss of ¥838 million associated with the termination of the management integration with NIPPON SHOKUBAI CO.,LTD. as an extraordinary loss, describing the financial impact of the termination. - FY2021-Q2DroppedAnnual report
「At an extraordinary meeting of the Board of Directors held on 21 October 2020, we resolved to terminate the management integration, and, by agreement between the two companies, terminated the final agreement concerning the integration as of the same date.」
The company states that the management integration with NIPPON SHOKUBAI CO.,LTD. was terminated after being postponed and that the final agreement was also terminated by mutual agreement. - FY2021-Q1SoftenedAnnual report
「In light of the global spread of COVID-19 and the sharp decline in crude oil and petroleum product prices, the outlook for the performance of the two companies that formed the basis of the agreement on the management integration, as well as for financial, economic, market and other business conditions, became uncertain. Accordingly, on 13 April 2020, the two companies each resolved at an extraordinary meeting of the Board of Directors to postpone the integration and review the share transfer ratio agreed in the final agreement, and entered into a memorandum concerning the final agreement.」
The management integration with NIPPON SHOKUBAI CO.,LTD. was postponed from 1 October 2020 to 1 April 2021 because of increasing uncertainty in the business environment, and the share transfer ratio was also to be reviewed. The timing for preparing the share transfer plan and holding the general meetings of shareholders was stated to be undecided. - FY2020-Q3AdvancedAnnual report
「On 29 November 2019, the two companies each resolved at an extraordinary meeting of the Board of Directors to establish “Synfomix株式会社” as their parent company through a joint share transfer and carry out the management integration, and entered into a final agreement between the two companies based on the principle of equality. The integration was subject to approval by competition authorities in Japan and overseas, and was scheduled to take place after the two companies prepared a share transfer plan and obtained approval for it at their respective annual general meetings of shareholders.」
The management integration with NIPPON SHOKUBAI CO.,LTD. progressed from the basic agreement and consideration stage to the signing of a final agreement for a joint share transfer with Synfomix株式会社 as the parent company. The effective date was scheduled for 1 October 2020, with a share transfer ratio of 1.225 for NIPPON SHOKUBAI to 1 for SANYO CHEMICAL. - FY2020-Q1RestatedAnnual report
「At an extraordinary meeting of the Board of Directors held on 29 May 2019, we resolved to enter into a basic agreement with NIPPON SHOKUBAI CO.,LTD. to proceed with consideration of a management integration of the two companies based on the principle of equality, and entered into the basic agreement. Going forward, the two companies planned to proceed with detailed consideration and discussions toward the management integration based on mutual trust and the principle of equality, and expected to enter into a final agreement concerning the integration around December 2019.」
The company reiterates the basic agreement on a management integration with NIPPON SHOKUBAI CO.,LTD. and the planned signing of a final agreement around December 2019. - FY2019First statedAnnual report
「At an extraordinary meeting of the Board of Directors held on 29 May 2019, we resolved to enter into a basic agreement with NIPPON SHOKUBAI CO.,LTD. to proceed with consideration of a management integration of the two companies based on the principle of equality, and entered into the basic agreement. As a basic policy, the two companies planned to merge approximately 2 years after the management integration took effect. The final agreement was scheduled to be signed in December 2019, the extraordinary general meetings of shareholders of both companies were scheduled for June 2020, and the effective date of this share transfer was scheduled for 1 October 2020.」
The company reached a basic agreement with NIPPON SHOKUBAI CO.,LTD. on an equal management integration and presented a schedule including a joint share transfer, an effective date of 1 October 2020, and a merger targeted for approximately 2 years after the integration took effect.