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 10, 2019
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:12 properties
(inventories)Zoning Location Planned transfer amount
(¥ million)(1) Honatsugi Tosei Building Office Atsugi-shi, Kanagawa 880 (2) Century Urawa Residential Saitama-shi, Saitama 980 (3) T's garden Nagayama Residential Tama-shi, Tokyo 850 (4) T's garden Hitotsubashigakuen Residential Kodaira-shi, Tokyo 760 (5) Grandeur Fujimino Residential Fujimi-shi, Saitama 822 (6) T's garden WarabiⅡ Residential Kawaguchi-shi, Saitama 750 (7) T's garden WarabiⅢ Residential Kawaguchi-shi, Saitama 655 (8) T's garden Kashiwa Residential Kashiwa-shi, Chiba 595 (9) Sun-ing Kitamatsudo Residential Matsudo-shi, Chib 482 (10) T's garden Tanashi Residential Nishitokyo-shi, Tokyo 310 (11) Kannai waizu Building Office Yokohama-shi, Kanagaw 2,050 (12) T's garden Kitakashiwa Residential Kashiwa-shi, Chiba 2,770 Total 11,904 - 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 Takayoshi Kitajima - 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 10, 2019 (2) Transfer Date (scheduled) Properties (1)~(10): November 5, 2019
Properties (11)~(12): December 2, 2019 - 4.Impact on earnings forecasts
The impact of this asset transfer is already reflected in the financial forecast announced on January 10, 2019, therefor there will be no revision to the business forecast for the fiscal year ending November 30, 2019.