Hi-Lex (7279) · InitiativeAchieved
Withdrawal from Russian Business and Liquidation of Subsidiary
First written in FY2022. 1 of 2 entries say "Achieved", first in FY2024-Q2. Latest entry: FY2024-Q2.
2entries
2years
0from disclosures
How it moved
Same theme, other companies
Sanctions Response and Transfer of Russian OperationsA theme 7 companies write about · 7 as a headwind · 0 as a tailwind
2 other companies' latest entry also says "Achieved".
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Full recordFilings, disclosures and news, newest first
- FY2024-Q2AchievedAnnual report
「The Company and Gomma Line LLC entered into a share transfer agreement dated 21 May 2024 for the transfer of the shares of HI-LEX RUS LLC, formerly a consolidated subsidiary of the Company, to Gomma Line LLC, and completed the share transfer.」
Regarding the withdrawal from the Russian business due to the withdrawal of major business partners resulting from the conflict in Ukraine and problems with the movement of funds caused by economic sanctions, 91.2% of the voting rights in HI-LEX RUS LLC was transferred on 21 May 2024, reducing the ownership interest to 0.0%. The sale of the company was completed, and it was excluded from the scope of consolidation. - FY2022First statedAnnual report
「The necessary procedures were initiated in December 2022 in accordance with local laws, and liquidation is scheduled to be completed once the process is finished.」
It was decided that HI-LEX RUS LLC, in which the Company held a 91.2% equity interest, would withdraw from the business and liquidate the company because major business partners had withdrawn as a result of the conflict in Ukraine and economic sanctions had created problems with the movement of funds.