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Ajinomoto Co., Inc. Completes Sale of All Shares of Consolidated Subsidiary
(Specified Subsidiary) Calpis Co., Ltd.
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| Tokyo, October 1, 2012 - Ajinomoto Co., Inc. (Ajinomoto Co.) announced today that it completed the process of selling the shares of consolidated subsidiary Calpis Co., Ltd. (Calpis). Ajinomoto Co. announced the sale in a news release on May 8, 2012 titled "Ajinomoto Co. Concludes Contract to Sell Calpis Shares." Calpis was a specified subsidiary as provided by Article 19-10 of the Cabinet Office Ordinance on Disclosure of Corporate Information, etc.
1. Completion of Sale of Shares On October 1, 2012, Ajinomoto Co. closed the sale of Calpis shares to Asahi Group Holdings, Ltd. Proceeds from the sale totaled JPY 119.0 billion, including an dividend of JPY 27.0 billion that Calpis paid to Ajinomoto Co. on September 12, 2012. Ajinomoto Co. also expects to receive an additional payment of up to JPY 3.0 billion subsequent to the close of the sale based on Calpis assets, including cash, deposits and working capital. 2. Impact on Results The removal of Calpis from consolidation as of October 1, 2012 due to the sale of its shares is expected to reduce consolidated net sales for the fiscal year ending March 2013 by approximately JPY 48 billion, but the impact on operating income, ordinary income and net income will be immaterial. About Ajinomoto Co. Ajinomoto Co. is a global manufacturer of high-quality seasonings, processed foods, beverages, amino acids, pharmaceuticals and specialty chemicals. For many decades Ajinomoto Co. has contributed to food culture and human health through wide-ranging application of amino acid technologies. Today, the company is becoming increasingly involved with solutions for improved food resources, human health and global sustainability. Founded in 1909 and now operating in 26 countries, Ajinomoto Co. had net sales of JPY 1,197.3 billion (USD 15.1 billion) in fiscal 2011. For more about Ajinomoto Co., (TYO: 2802), visit www.ajinomoto.com. For further information, please contact: Ajinomoto Co., Inc. Public Communications Department; pr_info@ajinomoto.com |
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