Nissin Kogyo Co Ltd (7230.T)
Latest Key Developments (Source: Significant Developments)
NISSIN KOGYO CO LTD:Says transaction disclosed on Sep. 9, 2015 was completed on March 31. Full Article
NISSIN KOGYO CO LTD:Business transfer date for NRE was changed to March 30 from Jan. 31, and stake transfer date was changed to March 31 from Feb. 1.Business transfer date for NBO was changed to March 31 from Feb. 1.Business transfer date for NBZ was changed to March 30 from Jan. 31, and stake transfer date was changed to March 31 from Feb. 1.Business transfer date for NRA was changed to March 30 from Jan. 31, and stake transfer date was changed to March 31 from Feb. 1. Full Article
NISSIN KOGYO CO LTD:Says the company lowers the consolidated full-year outlook for revenue to 166,000 million yen from 220,000 million yen for the fiscal year ending March 31, 2016.Operating profit forecast increased to 48,000 million yen from 18,000 million yen.Pre-tax profit forecast increased to 49,000 million yen from 19,000 million yen.Net profit forecast increased to 32,000 million yen from 10,500 million yen.Earnings per share increased to 492.75 yen from 161.68 yen.FY 2016 revenues of 227.04 billion yen, net profit of 11.26 billion yen – Thomson Reuters I/B/E/S. Full Article
NISSIN KOGYO CO LTD:Says the company to set up a new succession company to take over the development business of brake control and brake apply system for cars from subsidiary Nissin R&D Europe S.L.U. (NRE), placement date on Jan. 31, 2016.To sell 51 pct stake in the succession company to Autoliv Inc. on Feb. 1, 2016.The company's wholly owned subsidiary Nissin Brake Ohio, Inc. (NBO) to establish a U.S.-based wholly owned subsidiary which to set up a U.S.-based joint venture with Autoliv's subsidiary Autoliv ASP, Inc. with holding a 49 pct stake and a 51 pct stake respectively.NBO to transfer its brake related business (which is brake control and brake apply system and related development, design, manufacture and sale business), to the new JV Autoliv Nissin Brake System America, LLC on Feb. 1, 2016.Its China-based subsidiary Zhongshan Nissin Industry Co., Ltd. (NBZ) to set up new China-based wholly owned sub-subsidiary and to transfer brake related business to the sub-subsidiary on Jan. 31, 2016, and to sell 51 pct stake in sub-subsidiary to Autoliv AB on Feb. 1, 2016.The company to set up Thailand-based subsidiary, and Nissin R&D Asia Co., Ltd. (NRA) to transfer its brake related business to the new Thailand-based subsidiary on Jan. 31, 2016, and to sell 51 pct stake in sub-subsidiary to Autoliv on Feb. 1, 2016. Full Article
* Rating and Investment Information, Inc. (R&I) downgraded the company's rating to "A-", previously "A"