Taiyo Nippon Sanso Corporation (TNSC) subsidiaries, TNSC Euro- Holding S.L.U. and TNSC Germany GmbH, have become specified subsidiaries.
On the 5th July, TNSC announced that it would acquire the shares of corporations running a certain part of Praxair’s European businesses. TNSC had established TNSC Euro-Holding S.L.U. in Spain, TNSC Germany GmbH in Germany and certain other companies for the purpose of acquiring the shares and managing the target businesses.
Upon acquiring the shares of the corporations running the European businesses, TNSC has now decided to increase the capital of each company, along with other matters. In accordance with this decision, the total assets of TNSC Euro-Holding S.L.U. and TNSC Germany GmbH will amount to at least 30% of TNSC’s consolidated net assets.
TNSC is currently reviewing the impact of this change on its consolidated business forecasts for the fiscal year ending 31st March, 2019, and will promptly report its findings as soon as they have been determined.