August 3, 2021
Company name: Ube Industries, Ltd.
Representative: Masato Izumihara
President and Representative Director
Security code: 4208 (shares listed on First Section of Tokyo Stock
Exchange and Fukuoka Stock Exchange)
Contact: Osamu Akutagawa
General Manager, General Affairs Department
Tel: +81-3-5419-6110
Ube Industries Modifies Plans to Split Off Synthetic Rubber Business by
Establishing Wholly-Owned Subsidiary
Ube Industries, Ltd. today announced that, by a resolution of the Board of Directors today, the Company will partially modify its plans to split off its synthetic rubber business in a company split (simplified incorporation-type split), which was announced on April 30, 2021. The details of the changes are as follows.
1. Reason for Change
After further reviewing the assets and liabilities to be assumed by the new company, the Board of Directors has identified and made necessary changes to the plans to split off the synthetic rubber business by establishing a wholly-owned subsidiary.
2. Details of Changes
Changes are underlined.
"2. Summary of the Company Split, (6) Rights and Obligations Assumed by the Successor Company"
Previously:
The New Company will assume the assets and rights and obligations attributed to the Ube Industries' synthetic rubber business to be set out in the split plan.
Changed to:
The New Company will assume the assets, liabilities,and rights and obligations attributed to the Ube Industries' synthetic rubber business to be set out in the split plan.
"2. Summary of the Company Split, (7) Expected Fulfillment of Obligations"
Previously:
The New Company will not assume the liabilities of Ube Industries, so there will be no problem with debt repayment.
Changed to:
There will be no issues with the fulfillment of obligations to be borne by the New Company and Ube Industries.
"4. Overview of Splitting Businesses, (3) Splitting Assets, Liabilities, and Amounts (Latest Forecast as
of March 31, 2021)"
Previously:
Assets | Liabilities | ||||
Item | Book Value | Item | Book Value | ||
Current assets | 10,000 million yen | Current liabilities | 0 million yen | ||
Non-current assets | 12,400 million yen | Non-current liabilities | 0 million yen | ||
Total | 22,400 million yen | Total | 0 million yen |
Note: Assumed amounts will be the actual amounts as of the Company Split taking effect.
Changed to:
Assets | Liabilities | |||
Item | Book Value | Item | Book Value | |
Current assets | 3,400million yen | Current liabilities | 3,400million yen | |
Non-current assets | 18,700million yen | Non-current liabilities | 9,300million yen | |
Total | 22,100million yen | Total | 12,700million yen |
Note: Assumed amounts will be the actual amounts as of the Company Split taking effect.
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Disclaimer
Ube Industries Ltd. published this content on 03 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 August 2021 09:55:11 UTC.