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Investments in associated undertakings

12 Months Ended

Dec. 31, 2022

Investments in associated undertakings.

Investments in associated undertakings

B6. Investments in associated undertakings

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​	​	​	​	​
​		2022		2021
​	​	£m	​	£m
Interest in Nippon Calmic Limited		32		29
Interest in individually immaterial associated undertakings		21		1
At 31 December		53		30

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Nippon Calmic Ltd

Nippon Calmic Ltd is an associated undertaking in Japan in which the Group has a 49% interest. The associate is unlisted and the investment value is shown below.

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​	​	​	​	​
​		2022		2021
​	​	£m	​	£m
At 1 January	​	29	​	27
Exchange differences		(1)		(2)
Share of profit1		8		8
Dividends received		(4)		(4)
At 31 December		32		29

1. Share of profit is net of tax of £4m (2021: £4m).

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Assets

Liabilities

Revenue

Profit

Assets

Liabilities

Revenue

Profit

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2022

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2022

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2022

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2022

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2021

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2021

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2021

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2021

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£m

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£m

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£m

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£m

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£m

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£m

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£m

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£m

Nippon Calmic Ltd (49%)

66

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(33)

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52

​

8

53

(24)

52

8

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In addition to the interest in associates disclosed above, the Group also has interests in a number of individually immaterial associates that are accounted for using the equity method.

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​	​	​	​	​
​		2022		2021
​	​	£m	​	£m
At 1 January	​	1	​	—
Exchange differences		(1)		—
Acquisition		20		1
Share of profit		1		—
Dividends received		—		—
At 31 December		21		1

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£1m (2021: £nil) relates to unrecognised share of losses related to associates.

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- References

No definition available.

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- Definition

The disclosure of associates. [Refer: Associates [member]]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 27
-IssueDate 2023-01-01
-Paragraph 17
-Subparagraph b
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 27
-IssueDate 2023-01-01
-Paragraph 16
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=27&code=ifrs-tx-2023-en-r&anchor=para_16_b&doctype=Standard
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 12
-IssueDate 2023-01-01
-Paragraph B4
-Subparagraph d
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B4_d&doctype=Appendix&subtype=B
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