Torishima reclassifies Egyptian subsidiary as 'specified' after capital boost

Torishima Pump Mfg. Co., Ltd. announced on August 27, 2025, that its consolidated subsidiary, Torishima Service Solutions Egypt, has become a "specified subsidiary." This reclassification follows a capital increase for the Egyptian entity from EGP 16,000,000 to EGP 91,000,000, approved by the board of directors on June 25, 2025. This increase resulted in the subsidiary's capital exceeding one-tenth of Torishima's capital. The effective date of this change is July 14, 2025.

Torishima Service Solutions Egypt, established on November 1, 2023, is fully owned by Torishima Pump Mfg. Co., Ltd. and specializes in the maintenance and repair of pumps and related equipment. Its representative is Ashraf Abdel Moneim Mohamed Fathy Saleh. Financial highlights for 2024 show net assets of EGP 43,195,586.99, total assets of EGP 138,137,903.75, net sales of EGP 60,727,445, and net income of EGP 27,565,453.

Torishima Pump Mfg. Co., Ltd. anticipates that this reclassification will not impact its consolidated financial results for the fiscal year ending March 31, 2026.