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. 76.3% Hokuyo Reizo Co., Ltd. 11.2% Sakaiminato Uoichiba Co., Ltd. 10.2% Main Business Manufacturing and sales of corrugated boxes
Procurement and sales of marine products packagingNet 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 40.0% Sakaiminato Gyokan Co., Ltd. 40.0% Rengo Logistics Co., Ltd. 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