News Releases / 2014

HOME > News Releases 2014
December 12, 2014

Rengo Subsidiaries Nihon Matai and Morishita to Merge

Rengo Co., Ltd. (Head Office: Kita-ku, Osaka; Chairman, President & CEO: Kiyoshi Otsubo) announces that major consolidated subsidiaries in the heavy duty packaging business, Nihon Matai Co., Ltd. and Morishita Co., Ltd. will be merged. The goal of this merger is to improve management efficiency, and also to further improve consolidated performance.

 

Overview of Merger
1. Date of Merger (Effective date)
April 1, 2015 (scheduled)
2.

Merger Procedure

In this absorption-type merger with Nihon Matai Co., Ltd. as the
acquiring company, Morishita Co., Ltd. will be dissolved. As two wholly owned subsidiaries will merge, no new shares will be issued and capital will not increase.

 

Overview of Nihon Matai Co., Ltd. (acquiring company)

Location 2-6-7 Motoasakusa, Taito-ku, Tokyo
Representative

Masao Fujita

Capital

JPY 7,292 million

Shareholders Rengo Co., Ltd. 100%
Main Business Manufacturing and sales of packaging materials such as flexible container bags, and synthetic resin products
Net Sales

JPY 28,806 million (For the year ended March 31, 2014)

Number of Employees 506

 

Overview of Morishita Co., Ltd. (acquired company)

Location 1900 Isokami, Osafune, Setouchi-shi, Okayama
Representative

Yasushi Kanzaki

Capital

JPY 100 million

Shareholders

Rengo Co., Ltd. 96.44% *1
The Chugoku Bank, Ltd. 3.56%

Main Business Manufacturing and sales of packaging materials such as flexible
container bags, synthetic resin products and various net products
Net Sales

JPY 7,827 million (For the year ended March 31, 2014) *2

Number of Employees 169

*1 In December 2014, The Chugoku Bank, Ltd. will transfer all of its shares in Morishita to Rengo Co., Ltd. As a result, Rengo Co., Ltd.’s shareholding in Morishita will be 100%.
*2 On April 1, 2014, Morishita Co., Ltd. was created when Marsol Holdings Co., Ltd., Morishita Inc. and Morishita Chemical Industry Co., Ltd. were merged. Total sales figures of the three companies over the 10-month period ending March 31, 2014 (June 1, 2013 – March 31, 2014) are listed above.

 

Status after Merger (Tentative)

Trade name Nihon Matai Co., Ltd.
Location 2-6-7 Motoasakusa, Taito-ku, Tokyo
Representative

Masao Fujita

Capital

JPY 7,292 million

Shareholders Rengo Co., Ltd. 100%
Main Business Manufacturing and sales of packaging materials such as flexible
container bags, synthetic resin products and various net products