Consideration of transferring the battery business to the Murata Manufacturing Group
First written in FY2017-Q1. 1 of 4 entries say "Advanced", first in FY2017-Q2. Latest entry: FY2018.
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- FY2018AchievedAnnual report
「Sony and Murata Manufacturing Co.,Ltd. entered into a definitive legally binding agreement on 31 October 2016 under which the Murata Manufacturing group would acquire Sony Group’s battery business, and completed the transfer on 1 September 2017.」
The transfer of the battery business to the Murata Manufacturing group was completed on 1 September 2017. - FY2017SoftenedAnnual report
「Because the transfer of the battery business to Murata Manufacturing Co.,Ltd. was initially expected to be completed during fiscal 2016, we did not expect to record an operating loss in the battery business or transfer-related expenses in fiscal 2017. However, the timetable for the transfer was changed in light of the progress of reviews by the relevant authorities, and we now expect to record losses and expenses in fiscal 2017 as well.」
The schedule was changed from the initially expected completion during fiscal 2016, resulting in losses and expenses also being expected in fiscal 2017. - FY2017-Q2AdvancedAnnual report
「On 31 October 2016, Sony and Murata Manufacturing Co.,Ltd. entered into a definitive legally binding agreement under which the Murata Manufacturing group would acquire Sony Group’s battery business (hereinafter, the “Transaction”). Subject to obtaining the necessary approvals and authorizations from the relevant authorities, the companies aim to complete the Transaction in early April 2017. The transfer consideration for the Transaction is approximately ¥17.5 billion.」
The process progressed from the letter of intent stage to the execution of a definitive legally binding agreement, with completion targeted for early April 2017 and transfer consideration of approximately ¥17.5 billion. - FY2017-Q1First statedAnnual report
「On 28 July 2016, Sony and Murata Manufacturing Co.,Ltd. (hereinafter, “Murata Manufacturing”) signed a letter of intent under which the Murata Manufacturing group would acquire Sony Group’s battery business (hereinafter, the “Transaction”). Sony and Murata Manufacturing will conduct further due diligence on the battery business and continue discussions on the terms of the Transaction toward the execution of a definitive legally binding agreement.」
A letter of intent to transfer the battery business to the Murata Manufacturing group was signed, but a definitive agreement had not yet been executed.