Regulatory Approval and Closing Conditions for the Transfer of the Scientific Business
First written in FY2023-Q2. 1 of 3 entries say "Worsened", first in FY2023-Q3. Latest entry: FY2024-Q1.
No other company in this theme has enough history to compare yet.
- FY2024-Q1MitigatedAnnual report
「On 29 August 2022, we entered into an agreement to transfer all shares of Evident, our consolidated subsidiary engaged in the Scientific Solutions Business, to BCJ-66, a special-purpose company whose shares are indirectly held by an investment fund advised by Bain Capital, and completed the transfer procedures on 3 April 2023.」
For the transfer of the Scientific Solutions Business, which was subject to approvals from the relevant authorities and other conditions, the procedures were completed on 3 April 2023, reducing the risk relating to the closing conditions. - FY2023-Q3WorsenedAnnual report
「Completion of this share transfer was subject to obtaining approvals from the relevant authorities under competition laws and other applicable laws in Japan and overseas. Because fulfillment of these conditions was taking time in certain countries, following discussions with Bain Capital, we changed the scheduled closing date for this share transfer from “4 January 2023 (scheduled)” to “February 2023 (scheduled).” Subsequently, between the end of the consolidated accounting period for the third quarter and the date of submission of this quarterly securities report, we changed the scheduled closing date for this share transfer from “February 2023 (scheduled)” to “March 2023 (scheduled).”」
Obtaining approvals from the relevant authorities, a closing condition for the transfer of the Scientific Solutions Business, took time, making postponement of the scheduled closing date a concrete possibility. - FY2023-Q2First statedAnnual report
「Completion of this share transfer was subject to obtaining approvals from the relevant authorities under competition laws and other applicable laws in Japan and overseas, among other conditions, and may be changed depending on progress in obtaining these approvals and fulfilling other conditions.」
For the agreement to transfer the Scientific Solutions Business, approvals from the relevant authorities under competition laws and other applicable laws in Japan and overseas, among other requirements, were identified as conditions to completion, and the possibility that the scheduled closing date could change depending on progress in obtaining approvals was identified as a new risk.