Notice Regarding Transfer of Assets
Note: This English document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translation and the Japanese original, the Japanese original shall prevail.
Tosei Corporation assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translation.
To whom it may concern
October 11, 2016
Tosei Corporation
Toranomon Tosei Building, 4-2-3 Toranomon, Minato-ku, Tokyo
President and CEO: Seiichiro Yamaguchi
Securities code: 8923 (Tokyo Stock Exchange, First Section)
S2D (Singapore Exchange, Mainboard)
Contact: Director and CFO: Noboru Hirano
TEL: +81-3-3435-2865
Notice Regarding Transfer of Assets
Tosei Corporation (the "Company") hereby announces that it decided at a meeting of its Board of Directors held today to transfer inventory assets of the Company to Tosei REIT Investment Corporation. Since the revenue from the asset transfer is expected to be equivalent to at least 10% of the Company’s consolidated revenue for the previous fiscal year, the Company accordingly provides the following information.
- 1.Details of assets to be transferred
Assets to be transferred
Total:5 properties
(inventories)Zoning Location Planned transfer amount
(¥ million)Planned total transfer amount
(¥ million)JPT Motomachi Building Office Naka-ku,Yokohama-shi,
Kanagawa2,377 5,337 Hakusan asanomi Building Office Bunkyo-ku, Tokyo 1,380 T’s garden Shinkoiwa Apartment Katsushika-ku, Tokyo 670 Prime Garden Apartment Kamagaya-shi, Chiba 600 Selection Hatsutomi Store Kamagaya-shi, Chiba 310 - 2.Summary of buyer of assets
(1) Name Tosei REIT Investment Corporation (2) Address of Head Office 4-2-3 Toranomon, Minato-ku, Tokyo (3) Representative Executive Officer Hisaaki Kuroyama - 3.Timeframe of transfer
Please take note that completion of the necessary decision-making procedures by the transferee and completion of the necessary funds procurement before the transfer date have been set as conditions precedent to the asset transfer.(1) Contract Date October 11, 2016 (2) Transfer Date (scheduled) November 2, 2016 - 4.Impact on earnings forecasts
The impact of this asset transfer is reflected in the financial forecast ending November 30, 2016.
End