Maruha Nichiro : Notice Regarding Tender Offer and Recording of Extraordinary Income (Estimated)
July 09, 2024 at 07:04 am
Share
July 9, 2024
Company name:
Maruha Nichiro Corporation
Stock exchange listing:
Tokyo Stock Exchange, Prime Market
Stock code:
1333
URL https://www.maruha-nichiro.com/
Representative:
Title:
Representative Director, President & CEO
Name:
Masaru Ikemi
Inquiries:
Etsuko Kobayashi
Acting General Manager of Corporate Planning Department
Phone:
+81 (0)3 6833 0696
Notice Regarding Tender Offer and Recording of Extraordinary Income (Estimated)
At a meeting of the Board of Directors held today (July 9, 2024), Maruha Nichiro Corporation (hereinafter "the Company") resolved to tender all shares of common stock of Chilled & Frozen Logistics Holdings Co., Ltd. (Stock code: 9099, hereinafter, "C&F Logistics") held by the Company in a tender offer (hereinafter, "Tender Offer") to be conducted by SG Holdings, Inc. (hereinafter "SG Holdings") for all shares of common stock of C&F Logistics held by the Company.
As a result of participation in the Tender Offer, the Company expects to record an extraordinary income (gain on sales of investment securities) in its non-consolidated and consolidated financial statements for the second quarter of the fiscal year ending March 2025.
1. Reason for Participating in the Tender Offer
The Company held shares in C&F Logistics as cross-shareholdings. After considering the details of this Tender Offer, including the fact that the Board of Directors of C&F Logistics has expressed its approval and the assessment that the planned purchase price and other conditions are reasonable, the Company has decided to participate in this Tender Offer.
2. Number of Shares to be Tendered in this Tender Offer
Number of shares owned before Tender Offer
1,175,800 shares
Number of shares to be tendered
1,175,800 shares
Number of shares owned after Tender Offer
0 shares
3. Planned Purchase Price of the Tender Offer
5,740 yen per share of common stock (total amount to be sold: 6,749 million yen)
4. Schedule of the Tender Offer
Date of Public Notice of Commencement of Tender Offer
June 3, 2024
Tender Offer Period
From June 3, 2024 to July 12, 2024
Commencement Date of Settlement
July 22, 2024
5. Future outlook
If the Tender Offer is completed at the planned purchase price and all of the shares of C&F Logistics held by the Company are sold, the Company expects to record 6,099 million yen in extraordinary gains on sales of investment securities in its non-consolidated and consolidated financial statements for the second quarter of the fiscal year ending March 2025.
The impact on the earnings forecasts is currently under review and will be announced promptly if any revisions are deemed necessary.
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Maruha Nichiro Corp. published this content on
09 July 2024 and is solely responsible for the information contained therein. Distributed by
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Maruha Nichiro Corporation is a Japan-based company principally engaged in the fishing, aquaculture, food manufacture, processing and sale business. The Company operates in five business segments. Fishery & Aquaculture segment is involved in fishery business, aquaculture business and the procurement of fishery resources. Trading segment is involved in the procurement and sale of marine products and livestock products. Overseas segment is involved in the sale of marine products and processed foods, as well as the producing and sale of surimi. Processing segment is involved in the manufacture and sale of frozen foods, canned foods, fish sausages, chikuwa, desserts, seasonings, freeze-dried products, and chemical products. Logistics segment stores and transports frozen products. The Company is also involved in the feed storage, shipping, real estate business, as well as the manufacture and sale of furs and pet foods.
MARUHA NICHIRO CORPORATION 
