Sale of listed subsidiary through tendering shares in Tokyo Nissan Computer System
First written in FY2024-Q1. 1 of 3 entries say "Achieved", first in FY2024-Q2. Latest entry: FY2024-Q3.
- FY2024-Q3Cited as achievedAnnual report
「Accordingly, the share transfer was completed on 2 October 2023, and TCS株式会社 was excluded from the scope of consolidation. Following the successful completion of the tender offer by Canon Marketing Japan Inc., TCS株式会社, which had been listed on the Tokyo Stock Exchange Standard Market, was delisted on 30 October 2023. Gain on sale of shares in an affiliated company: ¥3,691 million」
The completion of the transfer of TCS株式会社 shares, its exclusion from consolidation and its delisting were reconfirmed, and a gain on sale of shares in an affiliated company of ¥3,691 million was recognized in the cumulative third-quarter period. - FY2024-Q2AchievedAnnual report
「Accordingly, the share transfer was completed on 2 October 2023, and TCS株式会社 was excluded from the scope of consolidation. Following the successful completion of the tender offer by Canon Marketing Japan Inc., TCS株式会社, which had been listed on the Tokyo Stock Exchange Standard Market, was delisted on 30 October 2023.」
The transfer of all shares in 東京日産コンピュータシステム was completed on 2 October 2023, and the company was excluded from the scope of consolidation. The target company was delisted on 30 October 2023, completing the sale plan disclosed in FY2024-Q1. - FY2024-Q1First statedAnnual report
「As a result, taking into account the need to optimize the allocation of management resources to achieve sustainable growth for our group, and the expectation that the value added of the services provided by 東京日産コンピュータシステム will increase and drive further growth through synergies with Canon Marketing Japan Inc., we determined that transferring all of the 東京日産コンピュータシステム shares held by us to Canon Marketing Japan Inc. would be optimal for increasing the corporate value of both companies, and decided to tender the shares in this tender offer.」
For reasons including the reconfiguration of the business portfolio and optimization of the allocation of management resources, the company entered into an agreement on 9 August 2023 to tender all 3,390,000 shares held in its consolidated subsidiary 東京日産コンピュータシステム, representing 54.71% of voting rights, in Canon Marketing Japan Inc.'s tender offer. If the tender offer was successful, the number of shares held would be 0, the settlement commencement date would be 2 October 2023, and a gain on extraordinary income of approximately ¥3,600 million was expected to be recognized in the consolidated financial statements.