Transfer of the Copper Tubes, Copper Tube Components and Copper Sheets Business to CTJ
First written in FY2020-Q2. 1 of 2 entries say "Achieved", first in FY2020. Latest entry: FY2020.
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- FY2020AchievedAnnual report
「All issued shares of the new company and all of the Company's direct equity interest in FMT were transferred to CTJ.」
The copper tube business was transferred to Daishin P&T through a company split, and the shares of that company and the Company's direct equity interest in Furukawa Metal (Thailand) Public Co., Ltd. were transferred to CTJ on 1 June 2020. - FY2020-Q2First statedAnnual report
「At a meeting of its Board of Directors held on 27 September 2019, the Company resolved to transfer the businesses operated by the Company, its wholly owned subsidiary 奥村金属株式会社 and its consolidated subsidiary Furukawa Metal (Thailand) Public Co., Ltd. relating to the development, manufacture and sale of copper tubes, copper tube components and copper sheet to CTJ Holdings 2 GK, a special-purpose company indirectly funded by Japan Industrial Partners V, L.P. and others managed and operated by 日本産業パートナーズ株式会社.」
The Company resolved to transfer the copper tube, copper tube components and copper sheet businesses to a new company through an absorption-type company split, and then transfer all shares of the new company and its 44% equity interest in Furukawa Metal (Thailand) Public Co., Ltd. to CTJ. The share transfer was scheduled for 2 March 2020, subject to clearance from competition-law regulators. The target businesses recorded sales of ¥10,398 million in the fiscal year ended March 2019.