Asia
Sumco Completes Reclassification of Formosa Sumco Technology
Sumco (TYO:3436) said it completed the reclassification of its Taiwan-listed unit Formosa Sumco Technology (TPE:3532) as an equity-method affiliate after selling part of its stake, according to a Friday filing on the Tokyo Stock Exchange.The Japanese silicon wafer maker said the sale was completed on Aug. 20, reducing its voting rights in FST to 38.0% from 43.2%, meeting requirements for FST to be excluded from its consolidated results.Going forward, FST will be treated as an equity-method affiliate, with Sept. 30 serving as the deemed date of reclassification.
TPE:3532TYO:3436
