October 22, 2021 | |
Company Name | HOYA Corporation |
Name of | Hiroshi Suzuki, Representative |
Representative | Executive Officer and CEO |
(Ticker: 7741, First Section of the Tokyo Stock Exchange) | |
Contact | Investor Relations TEL03-6911-4825 |
Public Relations TEL03-6911-4824 |
Notice of Signing of Joint Venture Contract (Consolidated Subsidiary)
We have executed a joint venture agreement with a division of the BOE Group (Beijing BOE Vision Electronic Technology Co., Ltd.)("BOE"), to initiate the formation of a joint venture company in China. The joint venture will involve our Flat Panel Display (FPD) business unit. Together with BOE, we plan to establish a joint venture company, the completion of which is subject to the occurrence of certain activities and conditions, including the execution of various ancillary and supporting agreements and the obtaining of legal and regulatory clearances with Chinese and other relevant jurisdictional authorities.
We hereby provide the following information.
Notes
1.Purpose of Incorporation of Joint Venture Company
Demand for FPD photomasks, which are essential components for the manufacture of LCDs/OLEDs for TVs, smartphones, PCs, etc., is expected to increase as the medium-tolong-term panel market in the Chinese market grows. Accordingly, we have decided to pursue a FPD joint venture in China with BOE, a major Chinese panel manufacturer, with the intention to enhance the manufacturing production capacity of FPD photomasks in China.
2.Outline of the Joint Venture
Name | TBD |
Address | Chongqing, People's Republic of China |
Representative | TBD |
Date of Incorporation | TBD |
Number of employees | TBD |
Description of Businesses | Manufacture and sales of FPD photomasks |
Paid-in Capital | RMB 1 billion |
Net assets | TBD |
Total assets | TBD |
Investment ratio | HOYA 60%, BOE 40% |
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3.Outline of the Partner.
Name of the counterparty | Beijing BOE Vision Electronic Technology Co., Ltd.(BOEVT) (*1) | ||||||
to the joint venture | |||||||
agreement | |||||||
Controller of BOEVT | BOE Group | ||||||
Address | Beijing, People's Republic of China | ||||||
Representative | Chen Yanshun, Chairman of Executive Committee | ||||||
Date of Establishment | April 1993 | ||||||
Number of employees | 76,459 (as of December 2020) | ||||||
Description of Businesses | Manufacturing and sales of electronic components such as liquid crystal | ||||||
panels and organic EL panels | |||||||
Paid-in Capital | 34,798,398,763 RMB (as of December 2020) | ||||||
Major shareholders and | Beijing State-owned Capital Management Center 11.68% | ||||||
percentage of shares | The Hong Kong Securities Clearing Company 5.88% | ||||||
Beijing BOE Investment Development Co., Ltd 2.36% | |||||||
Capital | Not applicable. | ||||||
relationship | |||||||
Relationship between a | Personnel | Not applicable. | |||||
relationship | |||||||
listed company and the | |||||||
Business | We and our subsidiaries sell products to BOE and BOE | ||||||
company | |||||||
relationship | subsidiaries. | ||||||
Status as a related | Not applicable. | ||||||
party | |||||||
Selected Financial Information (RMB) | FY12/18 | FY12/19 | FY12/20 | ||||
Consolidated net assets | 85,856,748,703 | 95,058,129,055 | 103,276,766,835 | ||||
Consolidated total assets | 304,028,491,385 | 340,412,203,308 | 424,256,806,331 | ||||
Consolidated net assets per share | - | - | 2.56 | ||||
Consolidated net sales | 97,108,864,935 | 116,059,590,164 | 135,552,569,729 | ||||
Profit attributable to owners of parent | 3,435,127,975 | 1,918,643,871 | 5,035,627,952 | ||||
Consolidated net income per share | 0.10 | 0.05 | 0.13 | ||||
Dividend per share | 0.03 | 0.02 | 0.01 |
*1. The information of Beijing BOE Vision Electronic Technology Co., Ltd. is not available. Therefore, the information set forth above refers to that of the BOE Group, unless otherwise specified.
4.Future Schedule
Date of decision by the representative executive officer | October 22, 2021 |
Date of the joint venture agreement | October 22, 2021 |
Date of establishment of joint venture | TBD |
Commencement date of operations of the joint venture | TBD |
5. Effect on earnings
We do not expect any material effect on the consolidated results for the year ended March 31, 2022, and we will disclose impacts on financial results in the future as they may occur.
This document is a disclosure document to the public and is not intended to solicit or act on behalf of any investor, whether in Japan or abroad, including the United States.
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Hoya Corporation published this content on 22 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 October 2021 06:03:04 UTC.