f330c797-d2c1-4410-9a23-bb81aca86f01.pdf

News Release 2015


Notice Regarding Transfer of Fixed Assets


December 14, 2015



Tokai Carbon Co., Ltd. (with head office at 2-3, Kita-Aoyama 1-chome, Minato-ku, Tokyo, "Tokai Carbon") hereby announces that its Board of Directors' meeting held today passed a resolution that it will conclude a fixed asset transfer agreement effective December 18, 2015.


  1. Reason for the transfer

    Based on economic situation and business environment, Tokai Carbon has decided to sell the land and the building owned by Tokai Carbon for effectively using the assets.


  2. Details of the asset to be transferred


    Details of the asset

    Land18,612.26 ㎡)and Building6,727.36 ㎡)

    location

    1607-1 Kozakura-cho, Chigasaki city, Kanagawa, Japan

    Current status

    Real estate owned by Tokai Carbon for rent

    Due to the terms of the contract we are unable to disclose the carrying amount or the sale price of the asset.


  3. Overview of the recipient of transfer

    We are unable to disclose details of the purchaser, which is a Japanese corporation, for contractual reasons. The purchaser has no capital, human resources or business relationship with Tokai Carbon and it is not a related party of Tokai Carbon.


  4. Schedule for the transfer


    December 18, 2015


    Date of conclusion of the non-current asset transfer agreement (scheduled)

    December 18, 2015

    Transfer of non-current asset (scheduled)


  5. Future implications

Tokai Carbon is currently evaluating its forecast of the consolidated financial results for the fiscal year ending December 31, 2015 to take into account the Asset Transfer and other factors that might affect such forecast. In the meantime, the Company will make an announcement immediately if any matters requiring disclosure arise as a result of changes in the impact of the transfer on the Group's financial results.

Reference: Tokai Carbon's consolidated financial results forecast (announced on November 2, 2015) and the actual consolidated financial results for the previous period


(Millions of yen)


Net sales

Operating income


Ordinary income


Net income

Consolidated financial results forecast (fiscal year ending Dec.

2015)


106,000


4,800


5,000


2,100

Actual consolidated financial results for the previous year (fiscal

year ended Dec. 2014)


114,576


3,703


4,180


2,562


End of Notice


Tokai Carbon Co. Ltd. issued this content on 2015-12-17 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2015-12-17 12:47:59 UTC

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