February 21, 2020
Kobe Steel, Ltd.
As informed in the "Announcement on change in consolidated subsidiary (share transfer)" released on September 27, 2019, Kobe Steel, Ltd. has been proceeding with preparations to transfer a portion of the issued shares it holds in its consolidated subsidiary Kobelco & Materials Copper Tube Co., Ltd. to CTJ Holdings2 LLC.*
Kobe Steel announces today that it has decided to change the execution date of the share transfer to March 31, 2020.
* CTJ Holdings2 LLC is a special purpose company in which all equity is indirectly held by Japan Industrial Partners, Inc.
|Execution date of share transfer||March 2, 2020 (planned)||March 31, 2020|
After the decision was reached to transfer the shares, the relevant parties considered and discussed the details of the various procedures and consequently set the share transfer date for March 31.
The share transfer is anticipated to have no impact on Kobe Steel’s business results for the fiscal year ending March 2020.
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