Sanwa Holdings Corporation TSE:5929
Announcement of the Conclusion of Stock Purchase Agreement of LIXIL SUZUKI SHUTTER CORPORATION [PDF:114.2 KB]
Source: MarketScreener
SANWA HOLDINGS CORPORATION
Nishi-Shinjuku 2-1-1 Shinjuku-ku
Tokyo 163-0478, Japanhttp://www.sanwa-hldgs.co.jp/english/
31st July, 2018
Announcement of the Conclusion of Stock Purchase Agreement of
LIXIL SUZUKI SHUTTER CORPORATION
Sanwa Holdings Corporation (hereinafter "Sanwa") is pleased to announce that Sanwa has decided to conclude a Stock Purchase Agreement to acquire LIXIL SUZUKI SHUTTER CORPORATION (hereinafter "LIXIL SUZUKI") with LIXIL Corporation (hereinafter "LIXIL"). LIXIL SUZUKI is a consolidated subsidiary of LIXIL.
This acquisition is conditional upon approval by Japan Fair Trade Commission.
1. Purpose of the acquisition
In Sanwa's "Second Three Year Plan" ended in FY2018 and also in "Sanwa Global Vision 2020", Sanwa Group in Japan has been focusing on the enhancement of core businesses such as shutters & steel doors and maintenance service business following the legislation for inspection reporting system of fire-proof equipment.
The acquisition of LIXIL SUZUKI is expected to generate the significant synergies in the above business areas by combining Sanwa's strength in region-based sales with top share with LIXIL SUZUKI's strong customer base fostered by its 115 year history.
2. Company overview of LIXIL SUZUKI
(1) Name | LIXIL SUZUKI SHUTTER CORPORATION | |||
(2) Representative | Satoshi Yamada, President | |||
(3) Head Office | 1-1-4 Minami Otsuka, Toshima-ku, Tokyo Japan | |||
(4) Date of establishment | July 23, 1936 (founded in 1903） | |||
(5) Business lines | Manufacture, Sales and Service of various types of shutters | |||
(6) Employees | 489 as of end of March 2018 | |||
(7) Capital | 1,989 million yen | |||
(8) Shareholder | LIXIL Corporation 100% | |||
(9) Three-year Business results | ||||
Years ended Mar.31 | 2016 | 2017 | 2018 | |
Total net assets | ¥9,095 mil. | ¥9,467 mil. | ¥9,611 mil. | |
Total assets | ¥12,642 mil. | ¥12,880 mil. | ¥13,585 mil. | |
Net sales | ¥12,005 mil. | ¥11,135 mil. | ¥11,956 mil. | |
Operating income | ¥832 mil. | ¥834 mil. | ¥848 mil. | |
Ordinary income | ¥825 mil. | ¥1,197 mil. | ¥1,138 mil. | |
Net income | ¥549 mil. | ¥811 mil. | ¥800 mil. | |
3. Schedule of the acquisition | |
Resolution of the Board of Directors | July 31, 2018 |
Conclusion of the Stock Purchase Agreement | July 31, 2018 (expected) |
Stock Transfer | After the approval by Japan Fair Trade |
Commission |
4. Impact on Sanwa's FY2018 consolidated forecast
As the acquisition is after the approval by Japan Fair Trade Commission and the date of acquisition is not determined, we announce the impact when the date is determined and we consider that we need to disclose.
(Reference) LIXIL Corporation
(1) Name | LIXIL Corporation |
(2) Representative | Kinya Seto, President & CEO |
(3) Location | 2-1-1 Ojima, Koto-ku, Tokyo 136-8535, Japan |
(4) Business Lines | LIXIL is a global leader in housing and building materials |
products and service. |
(5) Capital
34.6 billion yen
2