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- Mitsui & Co., Ltd.
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- Mitsui & Co., Ltd.
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Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Tatsuo Yasunaga) announced that, MBK Healthcare Partners Ltd. ("MBKHP"), a wholly owned subsidiary, has transferred its entire shares in IHH Healthcare Berhad ("IHH") to Mitsui, and that Mitsui plans to liquidate this subsidiary.
As a result of the share transfers, approximately ¥9.0 billion gains on the reversal of deferred tax liability on undistributed profits is expected to be recorded in Mitsui's full year consolidated financial results for the fiscal year ending March 2018. This profit is not included in the consolidated financial result revised forecasts announced by Mitsui on November 2nd, 2017.
The status of MBKHP has changed from a consolidated subsidiary to an unconsolidated subsidiary as a result of reduction in paid-in capital after investments held by MBKHP have been transferred to Mitsui, and Mitsui's plan to liquidate MBKHP. MBKHP was established for the purpose of managing its investments in IHH. The recent business environment has led to the aforementioned transfer of investments and the planned liquidation as part of Mitsui's cost-cutting and streamlining measures.
Company Name | MBK Healthcare Partners Limited |
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Address | The United Kingdom |
Representative | Takeshi Saito, Director |
Established | 5th April 2011 |
Capital | 1,239,000,000 SGD (Before transfer) |
Business Operation | Management of investments in IHH |
Shareholder | Mitsui & Co., Ltd. 100% |
Relationship with Mitsui & Co., Ltd. | Capital relationship: Mitsui & Co., Ltd. has a 100% stake in MBKHP. Personnel Relationship: Mitsui & Co., Ltd. has directors in MBKHP. Business relationship: There is no business relationship to be stated. |
Before | 1,238,685,428 (Number of voting rights:1,238,685,428, Ownership:100%) |
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After | 1 (Number of voting rights:1, Ownership:100%) |
Capital reduction: January 25th, 2018
Liquidation: Resolution of liquidation will be scheduled on January 29th, 2018. Registration of liquidation will be expected by the end of September, 2018.
Company name | IHH Healthcare Berhad |
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Address | Malaysia |
Representative | Dr. Tan See Leng, Managing Director and CEO |
Business operation | Healthcare related business such as hospital management and medical institution management etc. in Asia, Central and Eastern Europe, the Middle East and the North Africa region |
Shareholding structure (after transfer) | Mitsui & Co., Ltd. 18%, Others 82% |