Transfer of the Battery Separator Business
First written in FY2021. 1 of 3 entries say "Advanced", first in FY2022-Q1. Latest entry: FY2022-Q2.
No other company in this theme has enough history to compare yet.
- FY2022-Q2AchievedAnnual report
「On 10 May 2021, the company entered into a share transfer agreement to transfer the battery separator business within the High-Performance Glass business to a subsidiary to be established in Japan by ENTEK Technology Holdings LLC (headquartered in Lebanon, Oregon, USA) (ENTEK). Effective September 2021 (scheduled), the company (Nippon Sheet Glass Company,Limited) plans to transfer the business to its wholly owned subsidiary 日本板硝子コンパス株式会社 through an absorption-type company split, and subsequently transfer all shares of 日本板硝子コンパス株式会社 to ENTEK Japan.」
The absorption-type company split and share transfer under the agreement with ENTEK were completed on 1 September 2021, realizing the transfer of the battery separator business and related companies. - FY2022-Q1AdvancedAnnual report
「On 10 May 2021, the company entered into a share transfer agreement to transfer the battery separator business within the High-Performance Glass business to a subsidiary to be established in Japan by ENTEK Technology Holdings LLC (headquartered in Lebanon, Oregon, USA) (ENTEK). Effective September 2021 (scheduled), the company (Nippon Sheet Glass Company,Limited) plans to transfer the business to its wholly owned subsidiary 日本板硝子コンパス株式会社 through an absorption-type company split, and subsequently transfer all shares of 日本板硝子コンパス株式会社 to ENTEK Japan.」
The plan to transfer the battery separator business progressed to specific transaction procedures, including the execution of a share transfer agreement with ENTEK and an absorption-type company split and share transfer scheduled for September 2021. Following the transfer, the business is expected to be excluded from the scope of consolidation and the equity method. - FY2021First statedAnnual report
「Effective August 2021 (scheduled), the company (Nippon Sheet Glass Company,Limited) plans to transfer the business to its wholly owned subsidiary 日本板硝子コンパス株式会社 through an absorption-type company split, and subsequently transfer all shares of 日本板硝子コンパス株式会社 to ENTEK Japan. The company also expects to record a gain on the transfer of approximately ¥4,600 million as an individually disclosed item in the fiscal year ending March 2022 as a result of this business transfer transaction.」
The company announced plans to sell the battery separator business within the High-Performance Glass business through an absorption-type company split and share transfer scheduled for August 2021, and expects a gain on the transfer of approximately ¥4,600 million.