May 11, 2018
Notice of Share Transfer in an Equity-Method Affiliate
Daifuku Co., Ltd. announced its decision to transfer all of its shares in KNAPP AG (“KNAPP”), an equity-method affiliate, at its board meeting held today. After the closing of the transfer, Knapp will be excluded from its equity-method affiliates.
1. Reason for the share transfer
Daifuku has decided the share transfer as a course of its global management strategies.
2. Outline of the equity-method affiliate
(1) Name: KNAPP AG
(2) Address: Hart bei Graz, Austria
(3) Representative: Mr. Gerald Hofer, CEO
(4) Business: Manufacturing and sales of material handling systems
(5) Business relation with Daifuku: Purchase of goods
(6) Fiscal year: Beginning on April 1 and ending on March 31
(7) Share capital: €5,000,000-
3. Outline of the share transfer
(1) Number of shares transferred: 1,500,000 shares (the share of voting rights: 30.00%)
(2) Counterparties of the transfer: 1,417,241 shares (the share of voting rights: 28.34%):
Bartenstein Holding GmbH, a private group of industrial companies in Austria
82,759 shares (the share of voting rights: 1.66%):
Dr. Herbert Knapp, one of the family members and shareholders of KNAPP
(3) Signing date of the share transfer agreement: May 11, 2018
(4) Closing date: Late May 2018 (scheduled)
(5) Price: Not to be disclosed due to confidentiality obligation in the share transfer agreements with the counterparties
(6) Number of shares after closing: None
4. Expected impact on earnings
As a result of the share transfer, approximately 8 billion yen on the non-consolidated financial statements and approximately 7 billion yen on the consolidated financial statements will be booked as extraordinary income from gain on sales of shares in affiliates in this fiscal year ending March 31, 2019.
In addition, the impact from this extraordinary income has been already taken into account on its consolidated earnings forecast of the fiscal year ending March 2019 separately announced today.
* Translated from the original Japanese-language document
Daifuku Co., Ltd.