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Aug. 29, 2014Print(PDF/113KB)Corporate
Sumitomo Dainippon Pharma Announces Transfer of Certain Fixed Assets
Osaka, Japan, August 29, 2014 - Sumitomo Dainippon Pharma Co., Ltd. (Head Office: Osaka, Japan; President: Masayo Tada; Securities Code: 4506, First Section of TSE) announced that today its Board of Directors met and approved the below-listed transfers of the Company's certain fixed asets.
1. Purposes
Certain idle fixed assets are to be transferred for the purposes of more efficient use of the Company's resources and enhancement of the Company's financial strength.
2. List of assets to be transferred
(Yen amounts in millions)
| Description of the asset | Transfer price | Book value | Net gain | Current conditions | |
|---|---|---|---|---|---|
| (A) | "Horikawa Building" 1-33, Nozaki-cho, Kita-ku, Osaka, Osaka Land: 4,944.57 m² Building: 5,353.20 m² (GFA) |
6,345 | 107 | 6,142 | idle |
| (B) |
"Nishinomiya Dormitory" |
3,421 | 1,730 | 1,639 | idle |
| (C) | "Takatsuki Apartment" 9-12, Miyano-cho, Takatsuki, Osaka Land: 4,466.11 m² Building: 5,288.89 m² (GFA) |
770 | 300 | 459 | idle |
| Total | 10,536 | 2,137 | 8,241 | ||
| Note: | Net gains represent the differences between transfer prices and book values, less approximate transfer fees and charges |
3. Profiles of the transferees
- 3-1 Transferee of Fixed Asset "A"
| Name: | Sumitomo Realty & Development Co., Ltd. |
| Address: | Shinjuku NS Building 4-1, Nishi-Shinjuku 2-chome, Shinjuku-ku, Tokyo |
| Representative: | Kojun Nishima, President |
| Business lines: | Comprehensive Developer |
| Paid-in capital: | ¥122,805,000,000 (As of March 31, 2014) |
| Established: | December 1, 1949 |
| Relations: | Nothing in particular |
- 3-2 Transferee of Fixed Asset "B"
| Name: | Daiwa House Industry Co., Ltd. |
| Address: | 3-3-5 Umeda, Kita-ku, Osaka, Osaka |
| Representative: | Naotake Ohno, President and COO |
| Business lines: | Construction and sale of single-family houses, condominiums, rental housings, commercial facilities, etc. |
| Paid-in capital: | ¥161,699,201,496 (As of August 19, 2013) |
| Start of Operation: | April 5, 1955 |
| Relations: | Nothing in particular |
- 3-3 Transferee of Fixed Asset "C"
| Name: | Hankyu Realty Co., Ltd. |
| Address: | Higashi-Hankyu Building, 1-1, Kakuda-cho, Kita-ku, Osaka, Osaka |
| Representative: | Takashi Shimada, President |
| Business lines: | Land, house, and condominium sales Land use (Minds) Real estate mediation and brokerage Renovation and remodeling Land and building rental management |
| Paid-in capital: | ¥12,426,650,203 (As of March 31, 2014) |
| Established: | February 17, 1947 |
| Relations: | Nothing in particular |
4. Schedule
| Board approval: | August 29, 2014 |
| Transfer agreements: | Early September 2014 (planned) |
| Delivery: | Late September 2014 (planned) |
5. Accounting and financial forecast
Booking of a gain from sale of fixed assets in the amount of 8,241 million yen as an extraordinary income is envisaged for the second quarter (July-September 2014) of fiscal 2014. This gain from sale of fixed assets was considered already in the last announced financial forecast for fiscal 2014 (to end March 31, 2015). The present announcement does not alter the forecast.