Notice Regarding Extraordinary Income in Non-Consolidated Financial Results Associated with Partial Sale of Shares in AXEL MARK INC.
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SEPTENI hereby provides notice that the Company sold shares in AXEL MARK INC. (TSE Mothers 3624;hereinafter "AXEL MARK") through off-floor distributions on May 20, 2016 and will post extraordinaryincome associated with the sales in non-consolidated results. Details are as follows.
1. Description of extraordinary income
The Company plans to post a gain on sales of shares of subsidiaries and affiliates of 311 million yen as extraordinary income in its non-consolidated results in the fiscal year ending September 30, 2016.
2. Outlook
The gain on sales of shares of subsidiaries and affiliates is treated as a capital transaction in consolidated accounting and does not have any effect on consolidated earnings in the fiscal year ending September 30, 2016.
After the sales of shares in AXEL MARK, the Company has 44.97% of the voting rights of AXEL MARK, but AXEL MARK remains as our consolidated company.
SEPTENI hereby provides notice that the Company sold shares in AXEL MARK INC. (TSE Mothers 3624;hereinafter "AXEL MARK") through off-floor distributions on May 20, 2016 and will post extraordinaryincome associated with the sales in non-consolidated results. Details are as follows.
1. Description of extraordinary income
The Company plans to post a gain on sales of shares of subsidiaries and affiliates of 311 million yen as extraordinary income in its non-consolidated results in the fiscal year ending September 30, 2016.
2. Outlook
The gain on sales of shares of subsidiaries and affiliates is treated as a capital transaction in consolidated accounting and does not have any effect on consolidated earnings in the fiscal year ending September 30, 2016.
After the sales of shares in AXEL MARK, the Company has 44.97% of the voting rights of AXEL MARK, but AXEL MARK remains as our consolidated company.