Press Release
Aug. 09, 2013
Announcement on Transfer and Extraordinary Gain of Fixed Assets
Osaka, Japan -9 August, 2013- Toyo Tire & Rubber Co., Ltd. (hereinafter referred to as "the Company"; President & CEO: Akira Nobuki) announced today that a resolution at the Board of Directors meeting convened August 9, 2013 to transfer fixed assets. Details are as follows.
1. Reason for Transfer
With the relocation of the existing R&D Center (Ibaraki, Osaka) to Kawanishi, Hyogo Prefecture in December of this year (tentative), the Company decided to transfer the land and building that will become idle.
2. Details of Assets to be transferred
| Asset details and location | Transfer value | Book value | Capital gains | Current status |
| Ibaraki, Osaka Japan Land 7,986m2 Building 2,632m2 |
4,335 million yen |
132 million yen |
Approx 4 billion yen |
Research Center |
3. Overview of Party Receiving Transfer
| (1) Name | Haseko Corporation |
| (2) Head Office | 32-1 Shiba 2-chome, Minato-ku, Tokyo 105-8507, Japan |
| (3) Representatives | Mr. Ikuo Oguri, President, Representative Director |
| (4) Business Activities | Construction, Real estate, Engineering |
4. Schedule of Transaction
| Date of Resolution of Company Board Meeting | : 9 August, 2013 |
| Date of Contract | : 22 August, 2013 (plan) |
| Date of Transfer | : 31 January, 2014 (plan) |
5. Future Outlook
The Company will book the profit of the sale of fixed assets as an extraordinary gain in the first quarter of the Fiscal Year 2014 ending December 31, 2014.
Toyo Tire Corporation
Corporate Communications Dept.
Hyogo Head office Telephone: +81-72-789-9100 Facsimile: +81-72-773-3272
