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Tsugami Receives 2.96 Billion Yen Dividend of Surplus from Unit

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Tsugami (TYO:6101) has reported a dividend of surplus from subsidiary Precision Tsugami (China) (HKG:1651), according to a Tokyo bourse filing on Friday.

The machine tools company received on Jan. 19 dividends for the fiscal year ended March 31 worth 2.96 billion yen.

The subsidiary also plans to transfer in September dividends for the fiscal year ending March 31, 2027, amounting to about 4.52 billion yen.

The precision machinery company has recognized the dividends as non-operating income in its non-consolidated financial statements.

Shares of Tsugami fell more than 1% in recent trade.

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