Notice of Changes in Consolidated Subsidiary (Equity Transfer) and Recording of Extraordinary Loss
- 2024/09/27 IR News
Sanyo Chemical Industries, Ltd. hereby announces that, at the meetings of its Boards of Directors held on September 26, 2024, the Company has resolved to delegate authority to the Representative Director to execute an equity transfer agreement for the purpose of transferring of all the equity interests of San-Dia Polymers (Nantong) Co., Ltd., a wholly-owned subsidiary of its consolidated subsidiary SDP Global Co., Ltd., which operates in the superabsorbent polymer (SAP) business, to a Chinese company, Nantong Jiangtian Chemical Co., Ltd. . As of today, the Representative Director has made the decision regarding this equity transfer, as described below.
In addition, in conjunction with this equity transfer agreement, we expect to record an extraordinary loss (business restructuring expenses) in the interim consolidated financial statements for the fiscal year ending March 2025.
≫Release：Notice of Changes in Consolidated Subsidiary (Equity Transfer) and Recording of Extraordinary Loss