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 machinesNet Sales 1.8 billion yen (fiscal year ended August 31, 2010) Number of Employees 48