Preparing for Legal Separation through the Establishment of a Pipeline Business Company and an Absorption-Type Company Split
First written in FY2021-Q3. 2 of 5 entries say "Advanced", first in FY2021. Latest entry: FY2023-Q3.
0 other companies' latest entry also says "Cited as achieved".
- FY2023-Q3Cited as achievedAnnual report
「On 1 April 2022, the Company transferred its general gas pipeline business and other operations to Tokyo Gas Network Co., Ltd. through a company split.」
The completion of the transfer of the pipeline business to 東京ガスネットワーク株式会社 is cited as a past achievement in the description of the business. - FY2022AchievedAnnual report
「Effective date of the absorption-type company split agreement 1 April 2022」
Following the establishment of the pipeline operating company, execution of the absorption-type company split agreement, shareholder approval and government approval, legal separation was implemented on 1 April 2022. - FY2022-Q1AdvancedAnnual report
「Based on a resolution of the Board of Directors dated 28 April 2021, the Company decided to transfer its gas pipeline business and other operations to 東京ガスネットワーク株式会社 through a company split effective 1 April 2022 (予定). On the same date, the Company entered into an absorption-type company split agreement with the company (the “Company Split”), and the related proposals were approved at the 221st Annual General Meeting of Shareholders held on 29 June 2021. In connection with the Company Split, 東京ガスネットワーク株式会社, the successor company, will issue 12.63 million common shares and allot and deliver all of them to the Company.」
The establishment of the pipeline operating company, execution of the absorption-type company split agreement and shareholder approval have been completed. 東京ガスネットワーク株式会社 is scheduled to issue and allot 12.63 million common shares, with the transaction becoming effective on 1 April 2022. - FY2021AdvancedAnnual report
「Effective date of the absorption-type company split agreement 1 April 2022 (予定)」
The establishment of the pipeline operating company, execution of the absorption-type company split agreement and shareholder approval have been completed, but the effective date of the business succession is scheduled for 1 April 2022. - FY2021-Q3First statedAnnual report
「Specifically, the Company planned to establish a pipeline business company as a wholly owned subsidiary and carry out an absorption-type company split under which the split company would transfer the business to the company established to prepare for the split. The establishment of the preparation company and execution of the absorption-type company split agreement were scheduled for April 2021.」
To achieve legal separation of the pipeline business in April 2022, the Company established a wholly owned pipeline operating company and determined the specific corporate structure and procedures for carrying out an absorption-type company split.