IR News
HK HANWA Co., Ltd.
6-18-2 Ginza, Chuo-ku, Tokyo JAPAN
Date: July 9, 2014
Contact: Takuya Aizawa General Manager of Secretarial Office Tel: +81-3-3544-2000
Hanwa Co., Ltd. ("Hanwa") hereby announces that Hanwa resolved to acquire 24.71% of share outstanding in
Tokyo Kohtetsu Co., Ltd. ("Tokyo Kohtetsu") . Details are as follows:
Tokyo kohtetsu is one of the major electric steel mills in Kanto area, supplying extensive range of value- added products including equal and unequal angles used for building materials.
There is a bilateral business relationship as a customer of steel products and a supplier of steel scraps between Hanwa and Tokyo Kohtetsu. Hanwa expects to strengthen our product procurement power and increase of steel scrap sales by the acquisition.
Hanwa aims at stepping up more presence in the steel distribution industry through the demonstration of the synergistic effect of both companies in shaped steel sales centering on the Kanto region.
(1) Company name | Tokyo Kohtetsu Co., Ltd. |
(2) Address | 1-17-9, Uchikanda, Chiyoda-ku, Tokyo, Japan |
(3) Representative | Hideo Kurihara, President |
(4) Business lines | Steel making by electric furnace and rolling, Manufacture and sale of equal agles, unequal angles, R-angles and steel billets |
(5) Paid-in capital | 2,453 million yen |
(6) Established | July 18, 1962 |
Principal shareholders and percentage of shares (7) held (As of March 31, 2014) | Mitsui & Co., Ltd. 29.24 % Ichigo Trust 24.76 % BBH4 FidelityLow-Priced Stock Fund 8.03 % Asahi Industries Co., Ltd. 5.00 % Chase Manhattan Bank GTS Clients Account Escrow 4.61 % Morgan Stanley & Co. International plc 3.62 % Nippon Steel & Sumikin Bussan Corporation 3.16 % Shinichiro Shimizu 2.87 % Masanori Shimizu 2.87 % BBH Fidelity Puritan: Fidelity Series Intrinsic Opportunities Fund 1.76 % |
1
Relationships between (8) Hanwa and Tokyo Kohtetsu | Capital relationship | Hanwa has 300 thousand shares in Tokyo Kohtetsu (about 1.72% of shares outstanding). There is no significant capital relationship between persons associated with Hanwa or Hanwa's affiliates, and persons associated with Tokyo Kohtetsu or Tokyo Kohyetsu's affiliates. | |
Relationships between (8) Hanwa and Tokyo Kohtetsu | Personal relationship | There is no personal relationship to be stated between Hanwa and Tokyo Kohtetsu. There is no significant personal relationship between persons associated with Hanwa or Hanwa's affiliates, and persons associated with Tokyo Kohtetsu or Tokyo Kohtetsu's affiliates. | |
Relationships between (8) Hanwa and Tokyo Kohtetsu | Business relationship | There is a bilateral business relationship on selling and buying to be stated between Hanwa and Tokyo Kohtetsu. There is no significant business relationship between persons associated with Hanwa or Hanwa's affiliates, and persons associated with Tokyo Kohtetsu or Tokyo Kohtetsu's affiliates. | |
(9) Operating results and financial position of Tokyo Kohtetsu for the past three fiscal years (unconsolidated) | |||
Fiscal year end | March 2012 | March 2013 | March 2014 |
Net assets | 13,833 million yen | 14,484 million yen | 14,885 million yen |
Total assets | 18,049 million yen | 18,708 million yen | 18,647 million yen |
Net assets per share | 794.40 yen | 831.82 yen | 854.86 yen |
Net sales | 16,256 million yen | 15,385 million yen | 15,793 million yen |
Operating income | 1,460 million yen | 1,290 million yen | 899 million yen |
Ordinary income | 1,569 million yen | 1,346 million yen | 957 million yen |
Net income | 890 million yen | 825 million yen | 575 million yen |
Net income per share | 51.11 yen | 47.42 yen | 33.04 yen |
Dividend per share | 10.00 yen | 10.00 yen | 10.00 yen |
(1) Company name | Ichigo Trust |
(2) Address | Second Floor Midtown Plaza P.O.Box 448 Grand Cayman KY1-1106, Cayman Islands |
(3) Representative | J.Paul Drake |
(4) Business lines | Investment |
Relationships between (5) Hanwa and Ichigo Trust | There is no relationship to be stated between Hanwa and Ichigo Trust. There is no significant personal relationship between persons associated with Hanwa or Hanwa's affiliates, and persons associated with Ichigo Trust or Ichigo Trust's affiliates. |
Number of shares held (1) before transfer | 300,000 shares (number of voting rights : 3,000) (voting rights percentage : 1.72%) |
Number of shares to be (2) acquired | 4,311,000 shares (number of voting rights : 43,110) |
2
(3) Acquisition cost | Common stock of Tokyo Kohtetsu 1,832 million yen |
Number of shares held (4) after transfer | 4,611,000 shares (number of voting rights : 46,110) (voting rights percentage : 26.48%) |
(1) Transfer of shares July 9, 2014 (scheduled)
6. OutlookThe impacts from the acquisition are expected to have a minor effect on the consolidated results for the fiscal year ending March 31, 2015.
(For Reference) Consolidated Business Forecasts for the Current Year (published on May 12, 2014) and Actual Consolidated Results of Business of the Previous YearConsolidated sales | Consolidated operating income | Consolidated ordinary income | Consolidated net income | |
Consolidated business forecasts for the current year(Fiscal year ending March 2015) | million yen 1,750,000 | million yen 19,800 | million yen 17,500 | million yen 10,600 |
Actual consolidated results of business of the previousy year(Fiscal year ended March 2014) | 1,682,503 | 16,252 | 14,698 | 7,896 |
# # #
3
distributed by |