Review of the Business Portfolio Through Tendering FCM Shares in a Tender Offer
First written in FY2019-Q2. 1 of 2 entries say "Achieved", first in FY2019-Q3. Latest entry: FY2019-Q3.
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- FY2019-Q3AchievedAnnual report
「FCM Co., Ltd. was excluded from the scope of consolidation from the third quarter of the current consolidated fiscal year because its shares were sold.」
The sale of FCM shares was completed and FCM was excluded from the scope of consolidation. This confirms the execution of the business portfolio review under the tender offer agreement. - FY2019-Q2First statedAnnual report
「On 1 November 2018, the Company entered into a tender offer agreement with Asparaント Group SPC No. 5, whose issued shares are wholly owned by AG2 Investment Limited Partnership, an investment fund managed by Asparaント Group Co., Ltd. Under the agreement, the Company would tender all of its holdings in the common shares of FCM Corporation, a consolidated subsidiary, in the tender offer to be conducted by Asparaント Group SPC No. 5 from 2 November 2018.」
As part of its business portfolio review, the Company entered into an agreement to tender all 940,567 shares of consolidated subsidiary FCM that it held, representing an ownership interest of 55.2%, at ¥3,050 per share. Following completion of the tender offer, the Company was expected to hold 0 shares, while business relations with FCM were expected to continue as before.