Ningbo VAT Vacuum Technology Co., Ltd.’s Transition to an Equity-Method Affiliate Through a Third-Party Allotment Capital Increase
First written in FY2019-Q2. 1 of 2 entries say "Achieved", first in FY2019. Latest entry: FY2019.
The whole theme swung hardest in 2020: 1 of 6 companies on the "Worse" side.
4 other companies' latest entry also says "Achieved".
- FY2019AchievedAnnual report
「As our ownership interest in 寧波愛発科真空技術有限公司 declined from 90.3% to 49.0%, the company was changed from a consolidated subsidiary to an equity-method affiliate. The ¥303 million increase in our interest resulting from the capital increase was recognized as a gain on changes in equity interests (extraordinary income).」
A third-party allotment was conducted on 24 October 2018, reducing the ownership interest from 90.3% to 49.0%, and the change from a consolidated subsidiary to an equity-method affiliate was completed. - FY2019-Q2First statedAnnual report
「寧波愛発科真空技術有限公司 conducted a third-party allotment of shares to 寧波中策寧動真空技術投資有限公司, a subsidiary of 寧波中策動力機電集団有限公司, our joint venture partner. For 寧波愛発科真空技術有限公司, the capital increase will strengthen its business and competitiveness by expanding production capacity through construction of a new plant and leveraging 寧波中策動力機電集団有限公司’s extensive sales network, with the aim of increasing the share and standing of our brand in the global vacuum pump market.」
A third-party allotment was conducted on 24 October 2018, reducing our ownership interest from 90.3% to 49.0% and changing the company from a consolidated subsidiary to an equity-method affiliate. The company stated its aim of strengthening competitiveness by expanding production capacity through construction of a new plant and leveraging its sales network.