Casio Computer : to Transfer Non-Current Assets and Record Extraordinary Income
December 27, 2023 at 09:28 pm EST
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Company:
Casio Computer Co., Ltd.
Representative:
MASUDA Yuichi
President, CEO, and CHRO
Code Number:
6952 (TSE Prime)
Casio to Transfer Non-Current Assets and Record Extraordinary Income
Casio Computer Co., Ltd. announced today that its Board of Directors resolved to transfer non-current assets at a meeting held on December 26, 2023, as described below.
1. Reason for the transfer
In accordance with the capital allocation policy of its Medium- to Long-Term Management Policies announced on May 11, 2023, the Company will transfer non-current assets (idle assets) in order to effectively utilize management resources and improve asset efficiency.
2. Description of the asset transfer
Description and Location of Assets
Capital Gain
Land of the former Tokyo Office: 15,333 m2 (Sakuragaoka, Higashiyamato
Approx. 6.3 billion yen
City, Tokyo)
The Company has refrained from publicly disclosing the transfer price by agreement with the transferee, however the transfer will be made at a reasonable price by competitive bidding. The capital gain is an amount estimated after deducting the book value and estimated expenses.
3. Overview of the transferee
The transferee will not be disclosed by agreement with the transferee. There are no capital, personnel, or business relationships between the transferee or any related parties and the Company that require reporting.
4. Schedule of the transfer
December 26, 2023:
Resolution by the Board of Directors
January 2024 (scheduled):
Conclusion of the agreement
March 2024 (scheduled):
Delivery of the property
5. Future outlook
Due to the transfer of said non-current assets, the Company expects to record extraordinary income of approximately 6.3 billion yen as a gain on sale of non-current assets. If revisions to the consolidated results forecast for the fiscal year ending March 31, 2024 (announced on November 8, 2023) are necessary due to this and other factors, the Company will promptly disclose them.
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Disclaimer
Casio Computer Co. Ltd. published this content on 28 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 December 2023 02:27:41 UTC.
Casio Computer Co., Ltd. specializes in the production and marketing of electronic equipment and components. Net sales break down by family of products as follows:
- electronic equipment (98%): consumer electronic products (calculators, electronic dictionaries, label printers, digital cameras, music instruments, etc.), mobile devices (primarily mobile phones), clocks, digital and analogue watches and other (data projectors, computers, printers, cash registers, etc.);
- other (2%): primarily electronic components.
CASIO COMPUTER CO., LTD. 
