Otsuka Holdings Co., Ltd. (“Otsuka Holdings”) announces that its indirectly owned subsidiary Giant Harvest, Ltd. (“GHL”; Otsuka Pharmaceutical Co., Ltd.’s subsidiary) has completed the transfer of all of GHL’s shares of VV Food & Beverage Co., Ltd. which was an Otsuka Holdings’ affiliate accounted for by the equity method, to An Xin Qian Sheng Fortune Management (Shenzhen) Co., Ltd. and Founder Securities Co., Ltd. as of August 5, 2016.
Otsuka Holdings has previously made an announcement concerning this matter in a release titled “Notification of Change of Equity Method Affiliate (Transfer of Shares)” and dated May 17, 2016. As a result of the share transfer, Otsuka Holdings expects to record extraordinary income of approximately 16 billion yen from sales of shares of its affiliate’s stock in its financial statements for the third quarter of the fiscal year ending December 31, 2016.
Full-year consolidated financial forecasts for FY2016 (fiscal year ending December 31, 2016) taking into account this extraordinary income and other factors are currently under review and will be announced on August 9, 2016, at the time of the announcement of FY 2016 first-half actual financial results
