Shares of Sun Pharmaceutical Industries Ltd were trading in the green and almost 1% higher on 1 January after the company announced that it would sell its entire stake in the Japanese subsidiary. 

The company has agreed to sell all of its stake in Sun Pharma Japan Technical Operations, a step-down subsidiary of the company, to Zaza Industrial Holdings K.K., Japan (via its subsidiary, Sun Pharma Japan Limited), for a nominal consideration of one Japanese Yen. 

Consequently, the company will no longer include Sun Pharma Japan Technical Operations.

By 31 January 2025, the sale and disposal are expected to be finished.

Sun Pharma Japan Technical Operations’ revenue for FY 2023–2024 was less than 0.5% of Sun Pharma’s overall revenue.

The aforementioned business operates a manufacturing facility in Saitama, Japan, that manufactures products for Sun Pharma Japan. Under the terms of the selling deal, Sun Pharma and the factory have an agreement to supply products through May 2026.

At 11:20 am, the shares of Sun Pharma were trading 0.39% higher at Rs 1,893.80 on NSE. 

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