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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Maruwa Co. Ltd | LSE:MAW | London | Ordinary Share | JP3879250003 | JPY50 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 7,000.0946 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Porcelain Electrical Supply | 61.56B | 15.22B | 1233.3294 | 5.68 | 86.36B |
TIDMMAW
RNS Number : 0741Q
Maruwa Co Ld
01 November 2012
November 1, 2012
MARUWA CO., LTD.
Sei Kanbe
President and Representative Director
Code No. 5344,
First Section of the Tokyo Stock Exchange and Nagoya Stock Exchange
Contact: Kunito Niwa
General Manager of Administrative Headquarter
Phone: 0561-51-0841
Announcement regarding the Share Acquisition of Yamagiwa Corporation
MARUWA CO LTD ("Maruwa" or the "Company") resolved, at a meeting of the board of directors held on November 1, 2012 today, to acquire 100% outstanding shares of Yamagiwa Corporation ("Yamagiwa"), and the Company has entered into a share purchase agreement with the seller, Enterprise Turnaround Initiative Corporation of Japan ("ETIC" or the "Seller"), as set forth below:
1. Reason for acquiring shares
Since its founding, Maruwa has consistently positioned itself as a company centered on ceramics technology and is currently a leading growth company with No 1 global shares for numerous products in the environment, communications and power module sectors. As seen in its recently entered lighting fixtures business, the Company not only pursues cost efficiencies, but also promotes higher added-value based on its differentiation strategy applying its proprietary ceramic technology to its LED lighting products. Such strategies are in line with one of its corporate philosophies of "becoming a unique and 'quality-first' manufacturer" as it aims to future develop its lighting fixture business and become a global leader in this field.
Yamagiwa is well known for pioneering and establishing the lighting products culture in Japan, and is widely recognized as a highly value-added lighting manufacturer brand. It also has dedicated teams that specialize in designing lightings as well as planning, manufacturing and managing custom lightings and fixtures. With its many years of experience, brand strength and lighting solutions, Yamagiwa has established a strong customer base and is highly acclaimed by leading design firms and designers throughout the industry. It is currently the leading company engaged in designing, developing and manufacturing high-end lighting fixtures, interior lighting planning and importing and sales of lightings and fixtures.
By welcoming Yamagiwa as one of the core companies of the Group and utilizing its strong brand recognition and lighting solutions, the Company aims to further expand its business base in the booming LED lighting market and enhance global business growth.
2. Summary of the acquired Company
(1) Name Yamagiwa Corporation ------ --------------------- ------------------------------------------------------------- (2) Head Office 4-5-4 Hatchobori, Chuo-ku, Tokyo 104-0032 Japan ------ --------------------- ------------------------------------------------------------- (3) Representative Kazutoshi Ohmi Chief Executive Officer ------ --------------------- ------------------------------------------------------------- (4) Business Development, manufacturing, distribution and sales of lighting products. Lighting planning, consultation and implementation. Import, distribution and sales of lighting products, furniture and other interior elements. ------ --------------------- ------------------------------------------------------------- (5) Capital 250 million yen ------ --------------------- ------------------------------------------------------------- (6) Established May 2, 2011 ------ --------------------- ------------------------------------------------------------- (7) Shareholder(s) (%) Enterprise Turnaround Initiative Corporation of Japan 100.0% ------ --------------------- ------------------------------------------------------------- (8) Relationship between Capital relationship There are no capital relationships the listed company required to be stated between (Maruwa) and the the companies. Furthermore, acquired company there are no noteworthy capital (Yamagiwa) relationships between any affiliated party and/or company of Maruwa and the target company. ------ --------------------- --------------------- -------------------------------------- Personnel There are no personnel relationships relationship required to be stated between the companies. Furthermore, there are no noteworthy personnel relationships between any affiliated party and/or company of Maruwa and the target company. --- --------------------- --------------------- -------------------------------------- Business There are no business relationships relationship required to be stated between the companies. Furthermore, there are no noteworthy business relationships between any affiliated party and/or company of Maruwa and the target company. --- --------------------- --------------------- -------------------------------------- (9) Recent consolidated results of operations and consolidated financial status of the Company ------ ------------------------------------------------------------------------------------ Financial term March 2012 (NB) ----------------------------- ------------------------------------------------------------- Consolidated net assets 507 million yen -------------------------- ------------------------------------------------------------- Consolidated total 5,171 million yen assets -------------------------- ------------------------------------------------------------- Consolidated net assets 50,707 yen per chare -------------------------- ------------------------------------------------------------- Consolidated sales 6,575 million yen -------------------------- ------------------------------------------------------------- Consolidated operating 146 million yen income -------------------------- ------------------------------------------------------------- Consolidated ordinary 155 million yen income -------------------------- ------------------------------------------------------------- Consolidated net income 7 million yen -------------------------- ------------------------------------------------------------- Consolidated net income 709 yen per share -------------------------- ------------------------------------------------------------- Dividend per share -------------------------- -------------------------------------------------------------
(NB) 7.3 month settlement.
3. Summary of the Seller
(1) Name Enterprise Turnaround Initiative Corporation of Japan (ETIC) ----- -------------------- ---------------------------------------------------------- (2) Head Office 9F, Otemachi Bldg. 1-6-1 Otemachi, Chiyoda-ku, Tokyo ----- -------------------- ---------------------------------------------------------- (3) Representative President and Representative Director, Toshio Seya ----- -------------------- ---------------------------------------------------------- (4) Business Providing rehabilitation support to medium-sized companies, SMEs and other businesses that have revitalization potential but carry excessive debt. ----- -------------------- ---------------------------------------------------------- (5) Capital 20,130 million yen ----- -------------------- ---------------------------------------------------------- (6) Established October 14, 2009 ----- -------------------- ---------------------------------------------------------- (7) Net assets 19,083 million yen ----- -------------------- ---------------------------------------------------------- (8) Total assets 406,997 million yen ----- -------------------- ---------------------------------------------------------- (9) Shareholder(s) Deposit Insurance Corporation of Japan (%) ----- -------------------- ---------------------------------------------------------- (10) Relationship Capital There are no capital relationships between the relationship required to be stated between the listed company companies. Furthermore, there are (Maruwa) and no noteworthy capital relationships the seller company between any affiliated party and/or (ETIC) company of Maruwa and the seller company. ----- -------------------- ----------------- --------------------------------------- Personnel There are no personnel relationships relationship required to be stated between the companies. Furthermore, there are no noteworthy personnel relationships between any affiliated party and/or company of Maruwa and the seller company. ----- -------------------- ----------------- --------------------------------------- Business There are no business relationships relationship required to be stated between the companies. Furthermore, there are no noteworthy business relationships between any affiliated party and/or company of Maruwa and the seller company. ----------------- --------------------------------------- Related The seller company is not a related party situation party to Maruwa. Furthermore, no party and/or affiliate company of Maruwa is a relate party to the seller company. ----- -------------------- ----------------- ---------------------------------------
4. Number of acquired shares, equity price and shares before and after the acquisition
(1) Number of shares 0 shares owned before (Number of voting rights 0 units) acquisition (% of voting rights 0 %) ---- ------------------------- ---------------------------------------- (2) Number of shares 10,000 shares acquired (Number of voting rights 10,000 units) ---- ------------------------- ---------------------------------------- (3) Equity price* 700 million yen ---- ------------------------- ---------------------------------------- (4) Number of shares 10,000 shares owned after acquisition (Number of voting rights 10,000 units) (% of voting rights 100.0%) ---- ------------------------- ----------------------------------------
*The equity price was determined based on a share value analysis provided by a third party institution.
5. Schedule
(1) Resolution by the Board of November 1, 2012 Directors ---- --------------------------- ----------------------------- (2) Delivery date of shares December 3, 2012 (tentative) ---- --------------------------- -----------------------------
6. Forward-looking remarks
As a result of this share acquisition, Yamagiwa will become a consolidated subsidiary of the Company. As such, we expect a certain level of impact on the earnings forecast, details of which are unknown at this time. Information will be disclosed separately as required.
(end)
(Ref) Consolidated financial performance forecast for FY Mar 2013 (announced April 26, 2012) and consolidated financial performance for FY Mar 2012
Consolidated Consolidated Consolidated Consolidated sales operating ordinary income net income income ----------------------- --------------- -------------- ----------------- -------------- Consolidated 24,000 million 3,360 million 3,500 million 2,200 million financial performance yen yen yen yen forecast for the current term (FY Mar 2013) ----------------------- --------------- -------------- ----------------- -------------- Consolidated 21,313 million 2,933 million 3,264 million 2,105 million financial performance yen yen yen yen for the previous term (FY Mar 2012) ----------------------- --------------- -------------- ----------------- --------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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