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On February 15, 2017, Murata Manufacturing Co., Ltd. ("Murata") and Sony Corporation ("Sony") issued a press release entitled "Reschedule of the Target Closing Date for the Transfer of the Battery Business from Sony to Murata Manufacturing" regarding the transfer of the battery business first announced on October 31, 2016. In this press release, Sony and Murata announced that they aimed to complete the transfer by early July 2017, subject to required regulatory approvals and other conditions. However, the review process for the required regulatory approvals is taking longer than expected. As a result, Sony and Murata today announced that they are now aiming to complete the transfer by September 2017 or as soon as practicable thereafter. The rescheduled target closing date remains subject to the receipt of the required regulatory approvals and other conditions.
The impact on Sony's consolidated financial results due to this rescheduling is being evaluated.