News Releases / 2011

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July 29, 2011

Rengo Reorganizes its Subsidiaries

Rengo Co., Ltd. (Head Office: Kita-ku, Osaka; President & CEO: Kiyoshi Otsubo) announces that it will carry out the following three mergers of its consolidated subsidiaries with the aim of expanding their operations and improving their business performance by effectively utilizing managerial resources.

 

 

1. Merger of Sakaiminato Gyokan Co., Ltd. and
Sakaiminato Danboru Co., Ltd.

Overview of Merger
1. Date of Merger (Effective date): October 1, 2011 (scheduled)
2.

Merger procedure

Sakaiminato Gyokan will be the acquiring company of the merger, and Sakaiminato Danboru will be dissolved. Sakaiminato Gyokan will allocate 3.58 new shares for each share in Sakaiminato Danboru, resulting in the issuing of 42,960 shares in Sakaiminato Gyokan . Through this merger, Rengo will become the holder of 83.5 % of the shares in Sakaiminato Gyokan (including indirect ownership).

 

Overview of Sakaiminato Gyokan Co., Ltd. (acquiring company)

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

Koichiro Kawamoto

Capital

49 million yen

Major Shareholders Rengo Co., Ltd.
Hokuyo Reizo Co., Ltd.
Sakaiminato Uoichiba Co., Ltd.
76.3%
11.2%
10.2%
Main Business Manufacturing and sales of corrugated boxes
Procurement and sales of marine products packaging
Net Sales

1,442 million yen (fiscal year ended March 31, 2011)

Number of Employees 46

 

Overview of Sakaiminato Danboru Co., Ltd. (acquired company)

Location 12-28 Showa-machi, Sakaiminato-shi, Tottori Prefecture
Representative

Yuushi Nanba

Capital

10 million yen

Major Shareholders Rengo Co., Ltd.
Sakaiminato Gyokan Co., Ltd.
Rengo Logistics Co., Ltd.
40.0%
40.0%
20.0%
Main Business Manufacturing and sales of corrugated boards
Net Sales

655 million yen (fiscal year ended March 31, 2011)

Number of Employees 11

 

 

2. Merger of Kofu Daiichi Jitsugyo Co., Ltd. and
Kubota Art Package Co., Ltd.

Overview of Merger
1. Date of Merger (Effective date): October 1, 2011 (scheduled)
2.

Merger procedure

Kofu Daiichi Jitsugyo will be the acquiring company of the merger, and Kubota Art Package will be dissolved. As both companies are wholly-owned subsidiaries of Rengo, there will be no increase in capital or issuing of new shares resulting from the merger.

 

Overview of Kofu Daiichi Jitsugyo Co., Ltd. (acquiring company)

Location 358 Fuse, Chuo-shi, Yamanashi Prefecture
Representative

Hitoshi Ishii

Capital

200 million yen

Major Shareholders Rengo Co., Ltd. 100%
Main Business Manufacturing and sales of corrugated boards and boxes
Net Sales

2,744 million yen (fiscal year ended March 31, 2011)

Number of Employees 66

 

Overview of Kubota Art Package Co., Ltd. (acquired company)

Location 5540-1 Shimauchi, Matsumoto-shi, Nagano Prefecture
Representative

Kazuo Oka

Capital

10 million yen

Major Shareholders Rengo Co., Ltd. 100%
Main Business Manufacturing and sales of folding cartons
Net Sales

631 million yen (fiscal year ended March 31, 2011)

Number of Employees 30

 

 

3. Merger of Kowa Sangyo Co., Ltd. and
Takeuchi Bijutsu Insatsu Co., Ltd.

Overview of Merger
1. Date of Merger (Effective date): October 1, 2011 (scheduled)
2.

Merger procedure

Kowa Sangyo will be the acquiring company of the merger, and Takeuchi Bijutsu Insatsu will be dissolved. As Takeuchi Bijutsu Insatsu is a wholly-owned subsidiary of Kowa Sangyo, there will be no increase in capital or issuing of new shares resulting from the merger.

 

Overview of Kowa Sangyo Co., Ltd. (acquiring company)

Location 123 Shinden, Furujuku, Yuki-shi, Ibaraki Prefecture
Representative

Toshio Hiyamuta

Capital

69 million yen

Major Shareholders Rengo Co., Ltd. 100%
Main Business Manufacturing and sales of corrugated boxes and folding cartons
Net Sales

1,493 million yen (fiscal year ended March 31, 2011)

Number of Employees 64

 

Overview of Takeuchi Bijutsu Insatsu Co., Ltd. (acquired company)

Location 3-17-8 Maeno-cho, Itabashi-ku, Tokyo
Representative

Toshio Hiyamuta

Capital

15 million yen

Major Shareholders Kowa Sangyo Co., Ltd. 100%
Main Business Manufacturing and sales of folding cartons
Net Sales

182 million yen (fiscal year ended March 31, 2011)

Number of Employees 11