Takeda Pharmaceutical to transfer Japan consumer healthcare business to subsidiary
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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains
S-Reits falter as investors weigh possibility of zero rate cuts in 2024
CapitaLand Investment posts total revenue of S$650 million for Q1
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results
Porsche posts Q1 profit drop on ramp-up costs