September 11, 2018 | |
Company name: | Lion Corporation |
Representative: | Itsuo Hama, Representative Director, |
President Executive Officer | |
Security code: | 4912; the First Section of the Tokyo |
Stock Exchange |
Dissolution of Consolidated Subsidiary
The Lion consolidated subsidiary Lion Chemical Industry (Taiwan) Co., Ltd. ("Lion Chemical Industry") reached a resolution to dissolve itself at its special general shareholders' meeting on September 11, 2018.
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Name: | Lion Chemical Industry (Taiwan) Co., Ltd. |
Businesses: | Manufacture of laundry detergents, dish washing detergents, chemicals, etc. |
Established: | August 23, 1964 |
Location: | New Taipei City, Taiwan |
Representative: | Ping-Fu Chin |
Capital: | 218 million TWD |
Ownership: | Lion Corporation: 53.8%; Others: 46.2% |
3. | Schedule |
Dissolution: | September 11, 2018 |
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Company Overview
Reasons for Dissolution
The Lion Group has transferred the sales and marketing businesses of Lion Chemical Industry to Lion Home Products (Taiwan) Co., Ltd. (wholly owned by Lion), established in September 2015. Lion Chemical Industry ended its manufacturing business as of the end of December 2016. Furthermore, Lion Chemical Industry completed the transfer of its land and buildings in February 2018.
With the relevant procedures now complete, Lion Chemical Industry has decided to dissolve itself.
Final settling of accounts:The end of March 2019 (tentative)Forecasts
The dissolution of Lion Chemical Industry is expected to have only a minor impact on the consolidated results of the Lion Group for the fiscal year ending December 2018.
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Lion Corporation published this content on 11 September 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 11 September 2018 06:16:13 UTC