News Releases / 2010

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October 26, 2010

Rengo Makes Kyowa Shigyo its Subsidiary

Rengo Co., Ltd. (Head Office: Kita-ku, Osaka; President & CEO: Kiyoshi Otsubo) announces that it has recently made its affiliated company Kyowa Shigyo Co., Ltd. (Head Office: Otaru City, Hokkaido; President: Gyo Sakashita) a subsidiary by subscribing for an allocation of new shares to a third party by Kyowa Shigyo.  By providing this capital increase, Rengo's stake in Kyowa Shigyo has risen from 39.8% to 57.0%.

Kyowa Shigyo has been manufacturing and selling corrugated boxes, decorative corrugated boxes, and folding cartons since its establishment in 1949.  Exceptional product quality and technical expertise have ensured the company has achieved stable business performance.

With this transaction, Rengo will strengthen its partnership with Kyowa Shigyo in sales and production operations, and together with neighboring Rengo plants and Group companies, the two companies will seek to enhance the corrugated box and folding carton business in Hokkaido.

 

Overview of Kyowa Shigyo Co., Ltd.

Location

503-8, Zenibako 3-chome, Otaru City, Hokkaido

Representatives

Shuzo Yamazaki (Chairman, Member of the Board)
Gyo Sakashita (President, Member of the Board)

Capital

77.5 million yen

Major shareholders

Rengo 57.0%
Mitsuo Kawawaki 7.8%
Masahiro Hayashi 6.2%

Main Business

Manufacture and sales of corrugated boxes and folding cartons
Sales of packaging materials, printing machines, and packaging machines

Net Sales 1.8 billion yen (fiscal year ended August 31, 2010)
Number of Employees

48