On April 28th, Anhui Furudec Technology Development Co., Ltd. (Stock Code: 301297, Stock Abbreviation: Furudec) made an announcement stating its plan to fully divest its 100% equity stake in its wholly-owned subsidiary, Furudec Technology Development Japan K.K. (hereinafter referred to as Japan Furudec), to its indirect controlling shareholder, Nippon Magnetics Technology Co., Ltd. (Nippon Magnetics Technology). This transaction is classified as a related-party transaction. According to the announcement, the transaction has successfully secured approval at the 27th meeting of the second session of Furudec's board of directors. The voting outcome was decisive, with 4 votes in favor, 0 against, and 0 abstentions. Notably, 2 directors recused themselves from the voting process. The pricing of this transaction is firmly grounded in the audit report prepared by Pan-China Certified Public Accountants. After thorough deliberation and mutual agreement, both parties have settled on a transaction price of 730,245,909 Japanese yen. It is important to highlight that this transaction does not fall under the category of a major asset restructuring. Consequently, it does not necessitate submission to the shareholders' meeting for further approval. Furudec has articulated that the primary objective behind this asset sale is to streamline its asset allocation strategy, enhance the operational efficiency of its assets, and maximize their utilization. The company anticipates that this transaction will not exert a substantial impact on its financial standing and operational performance for the fiscal year 2026.
