2015
Announcement on Assignment of Fixed Assets (change of assignment schedule)March 31, 2015
NTN Corporation (hereafter, NTN) announces that it has made the following changes to the schedule of assignment of NTN fixed assets to a business entity operating in Japan disclosed in “Announcement on Assignment of Fixed Assets” dated October 22, 2013 and “Announcement of Changes to Assignees of Fixed Assets” dated December 26, 2013 (Japanese only).
1. Specifics of the change to the assignment schedule
The former site of Takarazuka Works was previously announced (on December 26, 2013) to be assigned to a business entity operating in Japan in September 2015, however the assignment has been changed to the end of March 2015.
2. Specifics of the assets being assigned
| Specifics and location of the assets | Profit from sale* | Current status of assets |
|---|---|---|
| Land located at 1-1 Toyo-cho, Takarazuka-shi, Hyogo Prefecture, covering an area of 47,320.91 square meters. | About 4 billion yen | Unused(former site of Takarazuka Works) |
Under the confidentiality obligation owed to the assignee we are required not to disclose the assets' assignment price or book value.
| * | Profit from sale represents an estimated amount obtained by deducting estimated expenses to be incurred in the assignment from the price of assignment. |
3. Reason for the change
After the previous schedule was disclosed, the assignee requested that “the assignment schedule be moved forward for the purpose of establishing a business on the site earlier,” and thus the change was made to the assignment schedule.
4. Outline of the assignee
No change from previously disclosed information.
5. Assignment schedule
| March 25, 2015 | : | The Board of Director's resolution |
| End of March 2015 | : | Settlement, transfer of ownership |
6. Earing forecast for future years
The assignment of these fixed assets was expected to have special profits that would be recorded in the fiscal year ending in March 2016, however special profits following this change to the assignment schedule are expected to be recorded in the fiscal year ending in March 2015. There is no change required for the full-year earnings forecast for the fiscal year ending in March 2015 that was disclosed in “Notice Regarding Revised Full-year Earnings Forecast” on October 31, 2014.
(Reference) Specifics of the assets being assigned
| Specifics and location of the assets | Profit from sale* | Current status of assets | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|
About 6.7 billion yen | Unused (former site of Takarazuka Works) |
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| * | Profit from sale represents an estimated amount obtained by deducting estimated expenses to be incurred in the assignment from the price of assignment. |