Sun Pharma Japan sells its subsidiary to Shinshin Pharma for Rs 24 crore
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New Delhi: Sun Pharmaceutical Industries Limited has announced that Sun Pharma Japan sold its entire shareholding in Kayaku Co. Ltd. to Shinshin Pharmaceutical on 1st September 2021 for a total consideration of JPY 353,983 ,400 (around 24 crore).
Thus Kayaku Co. Ltd has ceased to be the subsidiary of the Company.
Shinshin Pharmaceutical is a Japan-based pharmaceutical company with its office at 324 lmaich, Toyama City, Toyama 930-2224 Japan. The buyer does not belong to the promoter/promoter group/group companies, and the transaction does not fall within the purview of Related Party Transactions.
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