SHARINGTECHNOLOGY
News

News

2020.01.07

Notice Concerning the Basic Contract for Change in Consolidated Subsidiary (Share Transfer) and the record of Gain/Loss (estimated) on Transfer of Shares of a Subsidiary

SHARINGTECHNOLOGY INC. (hereinafter referred to as “SHARETECH”), in a written resolution (dated January 7, 2020) in lieu of resolution of the Board of Directors based on the provisions of Article 370 of the Companies Act, passed a resolution to enter into a basic contract to transfer all the shares (hereinafter referred to as “Share Transfer”) from MEISHI Consultant.INC (hereinafter referred to as “MEISHI”), a 100% consolidated subsidiary, to Mr. Masayoshi Makino (hereinafter referred to as “Mr. Makino”), who is President and Representative Director of MEISHI, and signed an agreement with Mr. Makino today. Accordingly, MEISHI is expected to be excluded from the Company’s consolidated subsidiary as a result of this Share Transfer.
Loss on transfer of shares of a subsidiary from this Share Transfer is scheduled to be recorded in the second quarter of the consolidated financial statement ending in September 2020.:

Detail: Notice Concerning the Basic Contract for Change in Consolidated Subsidiary (Share Transfer) and the record of Gain/Loss (estimated) on Transfer of Shares of a Subsidiary