At the meeting of the Board of Directors, Tokai Carbon Co., Ltd. reached a decision regarding the transfer of fixed assets, as described below.
Reason for transfer of fixed assets
Tokai Carbon Co., Ltd. is proceeding with measures to compress fixed assets based on policies for improving asset efficiency specified in the medium-term management plan (T-2018). As part of this effort, the company will transfer land and buildings associated with the operation of golf practice centers, which is a non-core business.
Details of transferred assets
Nagoya Green Club
Details of assets
Land (17,093.08 m2) and buildings (1,965.49 m2)
Location
3-711-2 Fukue, Showa-ku, Nagoya, Aichi, Japan (and others)
The transfer price, book value, and amount of profit or loss will be announced upon completion of the transfer.
Chita Green Club and other assets
Details of assets
Land (29,956.39 m2) and buildings (2,319.8 m2)
Location
1-110-1 Azakamiyama, Taketoyo-cho, Chita-gun, Aichi, Japan
(and others)
The transfer price, book value, and amount of profit or loss will be announced upon completion of the transfer.
Overview of transferee
The transferee is a Japanese corporation whose details will be announced upon completion of the transfer.
There are no notable investment relationships, personal relationships, or business relationships between Tokai Carbon Co., Ltd. and the transferee.
Furthermore, the transferee is not associated with any parties related to Tokai Carbon Co., Ltd.
Date of transfer
Contract date
September 30, 2016
Delivery date
June 2017 (planned)
Effects on business performance
Due to an impairment loss of 380 million yen that is expected to occur with the transfer of Chita Green Club and associated assets, this item will be recorded as a special loss in the consolidated account for the period ending December 2016. The effects on the consolidated business performance for the period ending December 2017 will be announced immediately once they have been determined.
End of Notice
Tokai Carbon Co. Ltd. published this content on 05 October 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 05 October 2016 06:09:07 UTC.
Original documenthttp://v3.eir-parts.net/EIR/View.aspx?template=ir_material&sid=59848&code=5301
Public permalinkhttp://www.publicnow.com/view/AA1913227B5EE277E5C97436E92B1A63E15B9371
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%).
TOKAI CARBON CO., LTD. 
