August 8, 2025
To Whom It May Concern:
Company name: | Mitsui Matsushima Holdings Co., Ltd. |
Representative: | Taishi Yoshioka, Representative Director and President |
(Stock Code: 1518, Prime Market of the Tokyo Stock Exchange and Fukuoka Stock Exchange) | |
Contact: | Mikiko Abe, Senior Executive Officer in Charge of Business Planning Dept. (Tel: +81-92-771-2171) |
Mitsui Matsushima Holdings Co., Ltd. (hereinafter, the "Company") decided today to reduce the capital of its specified subsidiaries, Mitsui Matsushima International Pty Limited (hereinafter "MMI") and Mitsui Matsushima Australia Pty Limited (hereinafter "MMA"). As a result of this capital reduction, we hereby announce that these companies will no longer constitute our specified subsidiaries as follows.
１． Reasons for the capital reduction and the change in specified subsidiaries
As announced in the "Notice Concerning Interest Sale in Liddell Coal Mine in Australia" dated July 5, 2024 and the "(Follow-up on Previously Disclosed Matters) Notice Concerning the Completion of Interest Sale in Liddell Coal Mine in Australia" dated November 28, 2024, the Company has completed the transfer of its total interest in Liddell Coal Mine in Australia, which the Company had owned through MMA, and thereby terminated the coal production and sales business. Following this, we have decided to reduce the capital of MMA and its holding company, MMI, in preparation for the procedure to deregister its Australian subsidiaries under the Australian Corporations Act. As a result of this capital reduction, the amount of capital will be less than 10% of the Company's capital, and therefore these subsidiaries will no longer be classified as specified subsidiaries.
２． Overview of the subsidiaries subject to the change Mitsui Matsushima International Pty Limited (MMI)
(1) Founded | June 12, 2002 | |
(2) Location | Level 17, 100 Barangaroo Avenue, Barangaroo NSW 2000 | |
(3) Name and title of representative | Akinori Sakai, Director, CEO | |
(4) Capital before reduction | AUD74,900,000 | |
(5) Business | Holding company | |
(6) Relationship between the Company and the company in question | Capital relationship | Wholly owned subsidiary of the Company |
Personal relationship | Directors are dispatched from the Company (serving concurrently). | |
Business relationship | There is no business relationship with the Company. | |
(7) Consolidated operating results and financial position for the most recent three years of the company in question (in thousand AUD) | |||
FY ended December 31, 2022 | FY ended December 31, 2023 | FY ended December 31, 2024 | |
Net assets | 84,876 | 87,573 | 89,383 |
Total assets | 170,522 | 150,454 | 208,445 |
Net sales | ‐ | ‐ | ‐ |
Operating profit | -267 | -556 | -320 |
Ordinary profit | 150,954 | 249,635 | 88,055 |
Net profit | 149,726 | 252,697 | 88,995 |
Mitsui Matsushima Australia Pty Limited (MMA)
(1) Founded | July 18, 1990 | ||
(2) Location | Level 17, 100 Barangaroo Avenue, Barangaroo NSW 2000 | ||
(3) Name and title of representative | Akinori Sakai, Managing Director | ||
(4) Capital before reduction | AUD116,100,000 | ||
(5) Business | Coal production business* * With the termination of the Group's coal production and sales business in fiscal year ended December 31, 2024 (the Company's consolidated fiscal year ended March 31, 2024), the company in question has ceased operations. | ||
(6) Relationship between the Company and the company in question | Capital relationship | Wholly owned subsidiary of the Company | |
Personal relationship | Directors are dispatched from the Company (serving concurrently). | ||
Business relationship | There is no business relationship with the Company. | ||
(7) Consolidated operating results and financial position for the most recent three years of the company in question (in thousand AUD) | |||
FY ended December 31, 2022 | FY ended December 31, 2023 | FY ended December 31, 2024 | |
Net assets | 274,513 | 201,688 | 119,183 |
Total assets | 358,537 | 239,877 | 119,576 |
Net sales | 531,742 | 371,185 | 5,072 |
Operating profit | 367,874 | 236,546 | -4,950 |
Ordinary profit | 365,590 | 245,863 | -867 |
Net profit | 248,410 | 177,175 | 2,495 |
Process for capital reduction
MMI's capital of AUD74,900,000 will be reduced by AUD74,899,999 to AUD1, and MMA's capital of AUD116,100,000 will be reduced by AUD116,099,999 to AUD1.
Schedule
The process will be implemented as soon as the necessary procedures on the Australian side are completed.
Future outlook
The impact of this capital reduction on the Company's consolidated financial results will be minor.