Spin-off and joint venture formation of the SAW filter business
First written in FY2021-Q1. 1 of 2 entries say "Achieved", first in FY2021-Q2. Latest entry: FY2021-Q2.
The whole theme swung hardest in 2020: 1 of 6 companies on the "Worse" side.
7 other companies' latest entry also says "Achieved".
- FY2021-Q2AchievedAnnual report
「On 3 June 2020, we decided to transfer 51% of the shares in NDK SAW devices株式会社, our wholly owned subsidiary, to Jiaxing Jiawang Investment Partnership (Limited Partnership), an investment subsidiary of JIC Technology Investment Co., Ltd., and entered into a share transfer agreement. The share transfer was completed on 30 October 2020. As a result, NSD was excluded from our consolidated subsidiaries and became an equity-method affiliate.」
The transfer of 51% of NSD's shares was completed on 30 October 2020 in connection with the spin-off and joint venture formation of the SAW filter business, and NSD changed from a consolidated subsidiary to an equity-method affiliate. - FY2021-Q1First statedAnnual report
「On 19 May 2020, we newly established NDK SAW devices株式会社, a wholly owned subsidiary, to carve out the SAW filter business operated by the Company and its wholly owned subsidiary 函館エヌ・デー・ケー株式会社 and operate it as a joint venture with JIC Technology Investment Co., Ltd.」
The Company disclosed for the first time the measure to carve out the SAW filter business into a newly established subsidiary and make it a joint venture with JIC Technology Investment Co., Ltd. A share transfer agreement for 51% of NSD's shares was signed, and receipt of the consideration was expected in August 2020.