Jins Holdings Inc. TSE:3046
JINS : Notice of Capital Increase of Overseas Consolidated Subsidiaries, Etc.
Source: MarketScreener
July 13, 2022
Company name: | JINS HOLDINGS Inc. |
(Code number: 3046, TSE Prime Market) | |
Representative: | Hitoshi Tanaka, CEO and Representative |
Director | |
Mikiya Yamawaki, Executive Officer and | |
Contact: | General Manager, Investor Relations |
Division | |
Phone: | +81-3-5275-7001 |
Notice of Capital Increase of Overseas Consolidated Subsidiaries, Etc.
JINS HOLDINGS Inc. (the "Company") announces that at a Board of Directors meeting held on July 13, 2022, a resolution was passed to increase the capital of JINS US Holdings, Inc., which is an overseas consolidated subsidiary of the Company, and its subsidiary JINS Eyewear US, Inc. (hereinafter, collectively referred to as "Subsidiaries, etc.") as follows.
1. Reason for the capital increase
The purpose is to improve the financial foundation through strengthening the equity capital of the Subsidiaries, etc.
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Overview of the capital increase
Amount of capital to be increased: USD 29,500,000
The Company will invest USD 29,500,000 in JINS US Holdings, Inc., which is a pure holding company in the United States, and JINS US Holdings, Inc. will invest the whole amount in JINS Eyewear US, Inc., which is an operating company.
Payment date: End of July 2022 (scheduled) - Overview of Subsidiaries, etc.
Trade name | JINS US Holdings, Inc. | JINS Eyewear US, Inc. |
Location | Delaware | San Francisco, California |
Representative | Hitoshi Tanaka, CEO | Katsumi Kubota, President |
Established | December 1, 2013 | December 1, 2013 |
Manufacturing, processing, sales, repair, | ||
Business description | Pure holding company in the United States | import, export, and all other associated |
businesses of glasses, sunglasses, and other | ||
related products | ||
Common stock | ||
(after capital | USD 48,500,000 | USD 48,480,000 |
increase) | ||
Capital structure | The Company: 100% | JINS US Holdings, Inc.: 100% |
(Note) JINS US Holdings, Inc. and JINS Eyewear US, Inc. are specified subsidiaries of the Company.
4. Impact on operating results
The impact of this capital increase on operating results for the fiscal year ending August 31, 2022, is expected to be
negligible.