The reason for this action, less than two years after the Co had acquired 50% voting rights in the AG through a 52% stake, was control. In August, Japan-headquartered DMG Mori Co’s “Domination, Profit and Loss Transfer Agreement” with German firm DMG Mori AG became effective, after the former amassed a 76.03% stake in the AG. As a result, the company has posted a one-off charge for this “clean-up of negative legacies” of JPY 13 billion (£100 million) in the current financial year.įirst, the integration.
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