Tokai Carbon : Notice Regarding Transfer of Fixed Assets
December 17, 2015 at 07:48 am EST
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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.
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.
Details of the asset to be transferred
Details of the asset
Land(18,612.26 ㎡)and Building(6,727.36 ㎡)
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.
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.
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)
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
Original Document: http://v3.eir-parts.net/EIR/View.aspx?template=ir_material&sid=47512&code=5301
Tokai Carbon Co., Ltd. is one of the Japanese leaders in manufacturing and marketing of coal and graphite products. The group is also producing industrial furnaces. Net sales break down by family of products as follows:
- coal and graphite products (69.6%): coal, graphite electrodes, special graphite and friction materials primarily for industrial, electronic, energy, automotive and mechanic applications;
- cathodes for smelting aluminum and furnace linings (18.1%);
- industrial furnaces and heating products (6.9%): for thermal processing of ceramic products, electronic components, metals, glasses, etc.;
- other (5.4%).
Net sales break down geographically as follows: Japan (24.6%), Asia (26.7%), the United States (26.5%), Europe (11.6%) and other (10.6%).