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TOKYO-LISTED Takeda Pharmaceutical Company Limited will transfer its Japan consumer healthcare business unit to Takeda Consumer Healthcare Company Limited (TCHC), its wholly owned subsidiary.
Takeda had announced its intention to spin off that business unit to TCHC in February 2016, in order to realise a more agile business model to promptly meet environmental changes and customers' needs in the consumer healthcare market.
The Japan consumer healthcare business unit is a business unit of Takeda which operates the consumer healthcare business, mainly in Japan. It has been focusing on over-the counter medicines including Alinamin and Benza, and a health food named Midori-no-Shukan.
Through the company split, Takeda plans to transfer all shares of its wholly owned subsidiary Takeda Healthcare Products Company Limited, which manufactures consumer healthcare products mainly in Japan, to TCHC.
This will make Takeda Healthcare a wholly owned subsidiary of TCHC.
There will be no change in Takeda's capital stock due to the company split. As the company split is a simple absorption-type split with a wholly owned subsidiary of Takeda, the impact on the group's consolidated results for FY2016 is minimal.