Sony has announced that it has completed the establishment of the logistics joint venture with Mitsui-Soko Holdings.The joint venture will be named Mitsui-Soko Supply Chain Solutions., and will be operated by Sony's formerly wholly-owned subsidiary Sony Supply Chain Solutions.
As a result of this transaction, Sony expects to record approximately JPY13 billion (US$108.7 million) in operating income in the first quarter of fiscal year ending March 31, 2016, subject to certain post-closing adjustments under the definitive agreement between the parties. This operating income includes a gain related to the re-measurement at fair value of the remaining 1,054,000 (34%) shares of Mitsui-Soko Supply Chain Solutions that Sony owns after this transaction. Going forward, Sony expects to account for Mitsui-Soko Supply Chain Solutions as an affiliated company by the equity-method.
The subsidiaries of Mitsui-Soko Supply Chain Solutions in Malaysia and Thailand, whose names were not determined at the time of the announcement of December 22, 2014, are MS Supply Chain Solutions (Malaysia) and MS Supply Chain Solutions (Thailand), said Sony.
Article translated by Alex Wolfgram
