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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 assets.

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 assetTransfer priceBook valueNet gainCurrent 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"
4-15, Maruhashi-cho, Nishinomiya, Hyogo
Land: 6,886.49 m²
Building: 7,770.76 m² (GFA)

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

    1. 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
    1. 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
    1. 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.