News Releases / 2011

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April 27, 2011

Rengo Makes Sakaiminato Gyokan its Subsidiary

Rengo Co., Ltd. (Head Office: Kita-ku, Osaka; President & CEO: Kiyoshi Otsubo) announces that it recently acquired additional shares of its affiliate Sakaiminato Gyokan Co., Ltd. (Head Office: Sakaiminato-shi, Tottori Prefecture; President: Koichiro Kawamoto) and a controlling interest, making Sakaiminato Gyokan a subsidiary.  As a result of the acquisition, Rengo’s holdings in Sakaiminato Gyokan increased from 41.8% to 76.3%.

Sakaiminato Gyokan is a box producer that manufactures and sells corrugated boxes and sells packaging for marine products.  The company’s business, centered in Sakaiminato-shi, Tottori Prefecture, has maintained stable financial performance.

Going forward, Rengo will further strengthen its ties with directly managed plants and group companies in the region to expand its corrugated packaging business in the Sanin district.

 

Overview of Sakaiminato Gyokan Co., Ltd.

Location

12-5 Showa-machi, Sakaiminato-shi, Tottori Prefecture

Representative

Koichiro Kawamoto (President, member of the Board)

Capital 49 million yen
Major shareholders

Rengo 76.3%
Hokuyo Reizo Co., Ltd. 11.2%
Sakaiminato Uoichiba Co., Ltd. 10.2%

Main Business

Manufacture and sales of corrugated boxes
Procurement and sales of marine products packaging

Net Sales 1.4 billion yen (fiscal year ended March 31, 2011)
Number of Employees 46