TV ASAHI HOLDINGS CORPORATION Note: This document is a direct translation of the document released in Japanese. If there are any discrepancies between this document and the original Japanese version, the original Japanese version prevails.
December 24, 2020 | |
Company Name | TV Asahi Holdings Corporation |
Representative | Hiroshi Hayakawa, Chairman and CEO |
Securities Code | 9409 (Tokyo Stock Exchange, First Section) |
Information Contact | Masaya Fujinoki, Senior Executive Director |
(TEL: +81-3-6406-1115) |
Notice Regarding Additional Acquisition of Shares
TV Asahi Holdings Corporation (the "Company") hereby announces that its Board of Directors, pursuant to Article 370 of the Companies Act and Article 23, Paragraph 4 of the Company's Articles of Incorporation (written resolution in lieu of a Board of Directors meeting), resolved today to acquire additional shares of Toei Company, Ltd., an equity method affiliate of the Company.
1. Reason for acquisition of shares
As the business environment surrounding the Company has been undergoing significant changes, the Company has been implementing its management plan, TV Asahi 360°. Based on the guiding principle that "content" is the source of value for the TV Asahi Group, the Company has been working to strengthen its content production capabilities. To further reinforce such efforts, the Company has decided to acquire additional shares of Toei Company, Ltd.
With this additional acquisition of shares, the Company and Toei Company, Ltd. intend to strengthen their mutually cooperative relationship and increase the corporate value of the TV Asahi Group.
2. Outline of the equity method affiliate of the Company whose shares are to be additionally acquired
1) | Company Name | Toei Company, Ltd. |
2) | Location | Chuo Ward, Tokyo |
3) | Representative | Osamu Tezuka, President |
4) | Business | Motion picture production and distribution |
5) | Capital | ¥11.707 billion |
6) | Date of Establishment | October 1949 |
7) | Percentage of Voting Rights | 19.68% (17.77%) |
after Additional Acquisition
Note: Percentage in parentheses is percentage of voting rights prior to additional acquisition | |||
3. | Schedule | ||
(1) | Date of Board of Directors Resolution | December 24, 2020 | |
(2) | Date of Closing | December 24, 2020 | |
(3) | Date of Share Transfer | December 25, 2020 | |
4. | Future outlook |
The impact of this acquisition on consolidated earnings is minor.
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TV Asahi Holdings Corporation published this content on 24 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 December 2020 07:50:02 UTC
