Drugmaker Sun Pharmaceutical Industries has inked an agreement with Zaza Industrial Holdings KK (Japan) to sell 100 per cent shares in its step-down subsidiary Sun Pharma Japan Technical Operations Limited.

Consequently, Sun Pharma Japan Technical Operations will cease to be a subsidiary of the company, Sun told the stock exchanges, without divulging reasons for the exit. The turnover of Sun Pharma Japan Technical Operations is less than 0.5 per cent of Sun Pharma’s consolidated turnover for FY 2023-24. The subsidiary operates a plant in Saitama (Japan) which manufactures products for Sun Pharma Japan Limited. “As part of the sale agreement, the plant is contracted to supply products to Sun Pharma until May 2026,” it added.

The agreement for sale was formalised on December 31, 2024, the company said, and was expected to be completed by January 31, 2025. The sale consideration was JPY 1 (Japanese Yen One only), it added.