Guangdong TGPM Automotive Industry Group Co., Ltd. agreed to acquire the remaining 70% stake in Guangdong Faltec Automobile Supplies Co., Ltd. from Faltec Co., Ltd. for ¥25.7 million.
November 10, 2020
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Guangdong TGPM Automotive Industry Group Co., Ltd. agreed to acquire the remaining 70% stake in Guangdong Faltec Automobile Supplies Co., Ltd. from Faltec Co., Ltd. (TSE:7215) for ¥25.7 million on November 11, 2020. As a result, Guangdong Faltec Automobile Supplies Co., Ltd. will no longer a specified subsidiary of Faltec Co., Ltd. Guangdong Faltec Automobile Supplies Co., Ltd. reported total assets of ¥30.4 million, total common equity of ¥30.4 million, total revenues of ¥24 million and negative net income of ¥2.1 million. The transaction was resolved by the Board of Faltec Co., Ltd. The impact of this change of specified subsidiary on the consolidated financial results of the Company will be minor.
FALTEC Co., Ltd. is a Japan-based company engaged in manufacture and sale of automotive exterior parts, automobile genuine products and automobile related equipment business. The Company operates Japan, Asia and North America segment. The Automobile Enterior Parts business is engaged in the development, manufacture and sale of automobile exterior resin parts, such as radiator grilles, mud guard centers and wheel covers; molding parts, including window moldings, as well as door sash and metal parts. The Automobile Genuine Products business involves in the development, manufacture and sale of exterior goods, electrical components, metal products, chemical products and others. The Automobile-Related Equipment business is engaged in the development, manufacture and sale of automobile inspection and maintenance equipment, automobile manufacturing facilities and equipment, emergency power generators and gas engines for air conditioners.
Guangdong TGPM Automotive Industry Group Co., Ltd. agreed to acquire the remaining 70% stake in Guangdong Faltec Automobile Supplies Co., Ltd. from Faltec Co., Ltd. for ¥25.7 million.
FALTEC CO., LTD. 
