TV Asahi : Notice Regarding Acquisition of Shares of Consolidated Subsidiary (Conversion into an Equity Method Affiliate)
April 05, 2024 at 03:05 am
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Note: This document is a direct translation of the Japanese release. If there are any discrepancies between this document and the original Japanese version, the original Japanese version prevails.
April 5, 2024
Company Name
TV Asahi Holdings Corporation
Representative
Hiroshi Hayakawa, Chairman
(Securities Code: 9409, TSE Prime Market)
Information Contact
Gengo Sunami, Member of the Board
(TEL: +81-3-6406-1115)
Notice Regarding Acquisition of Shares of Consolidated Subsidiary
(Conversion into an Equity Method Affiliate)
TV Asahi Holdings Corporation (the "Company") hereby announces that the Board of Directors of consolidated subsidiary TV Asahi Corporation ("TV Asahi") resolved on April 5, 2024, to acquire shares of KOTOBUKIYA CO., LTD. ("KOTOBUKIYA") and convert said company into an equity method affiliate. Details are as follows.
1.Reason for acquisition of shares
The TV Asahi Group is currently carrying out its new management plan "BREAKOUT STATION! TV Asahi for the New Era Management Plan 2023-2025" from fiscal year ending March 31, 2024. Grounded in the basic philosophy that "content is the source of all value", the Company is executing its "360°strategy" which aims to maximize the value of content through the 360°distribution of content on various media. Within the strategy, "Animation and Game Businesses" and the "Metaverse Business" are identified as growth areas and constructive endeavors are being taken. In order to pursue investments that create a positive growth cycle, the Company has also established a strategic investment initiative in the amount of 50 billion yen.
In line with such strategy, TV Asahi and KOTOBUKIYA has entered into capital and business alliance as announced on December 11, 2023, and sequentially, with aim of further deepening the cooperation of developing and distributing IP and content that leverages the strength of both companies, additional shares of KOTOBUKIYA will be acquired by TV Asahi.
2.Summary of acquisition of shares
TV Asahi will acquire shares of KOTOBUKIYA ("Share Acquisition") through the off-auction trading system from The Shoko Chukin Bank, Ltd. who is a shareholder of KOTOBUKIYA.
Total number of shares of Share Acquisition: 180,000 shares
Total acquisition amount of Share Acquisition: ¥338 million
Date of execution of Share Acquisition: April 8, 2024 (scheduled)
3.Overview of the company to become an equity method affiliate
(1)
Name of company
KOTOBUKIYA CO., LTD.
(2)
Location
4-5Midori-cho, Tachikawa, Tokyo
(3)
Representative
President & CEO, Kazuyuki Shimizu
(4)
Scope of business
Planning, manufacturing, sales, etc., of hobby-related products
(5)
Paid-in-capital
¥458 million
(6)
Date of establishment
January 7, 1953
(7)
Percentage of voting rights after
15.07% (12.90%)
additional acquisition
Note: Percentage in parenthesis is the percentage of voting rights
before the additional acquisition
4.Schedule
(1)
Date of board of directors resolution
April 5,
2024
(2)
Date of share acquisition
April 8,
2024 (scheduled)
5.Future outlook
The impact of this transaction on future consolidated performance is expected to be minimal.
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TV Asahi Holdings Corporation published this content on
05 April 2024 and is solely responsible for the information contained therein. Distributed by
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05 April 2024 07:04:04 UTC.
TV Asahi Holdings Corporation, is a Japan-based broadcasting company. The Company operates in three business segments. The Television (TV) Broadcasting segment is involved in the production and broadcasting of TV programs. The Music Publishing segment is involved in the management of music copyrights and related rights, as well as the artist management and the recording businesses. The Others segment is engaged in the Internet business, event business, movie investment business, shopping business and other businesses.