News Releases / 2014
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February 27, 2014
Rengo Subsidiaries Marsol Holdings,
Morishita and Morishita Chemical Industry to MergeRengo Co., Ltd. (Head Office: Kita-ku, Osaka; President & CEO: Kiyoshi Otsubo) announces that Marsol Holdings Co., Ltd., Morishita Inc. and Morishita Chemical Industry Co., Ltd. will be merged as follows with the goal of improving the management efficiency of its consolidated subsidiaries, and also to further improve consolidated performance.
Marsol Holdings Co., Ltd. will serve as the acquiring company, inheriting all rights and obligations of Morishita Inc. and Morishita Chemical Industry Co., Ltd., which will both be dissolved.
Furthermore, on the date of the merger, Marsol Holdings Co., Ltd. will change its trade name to “Morishita Co., Ltd.,” and receive the transfer of the business and employees of the acquired companies Morishita Inc. and Morishita Chemical Industry Co., Ltd.
Overview of Merger
1. Date of Merger (Effective date): April 1, 2014 (scheduled) 2. Merger Procedure:
Marsol Holdings Co., Ltd. will be the acquiring company of the merger, and Morishita Inc. and Morishita Chemical Industry Co., Ltd. will be dissolved.
Marsol Holdings Co., Ltd. will allocate 0.00032 new shares for each share in Morishita Inc., resulting in the issuing of 1,643 shares in Marsol Holdings Co., Ltd. Marsol Holdings Co., Ltd. will allocate 0.00048 new shares for each share in Morishita Chemical Industry Co., Ltd., resulting in the issuing of 2,500 shares in Marsol Holdings Co., Ltd. Through this merger, Rengo will become the holder of 96.44% of the shares in Marsol Holdings Co., Ltd.Overview of Marsol Holdings Co., Ltd. (acquiring company)
Location 1900 Isokami, Osafune, Setouchi-shi, Okayama Representative Yasushi Kanzaki
Capital JPY 105 million
Shareholders Rengo Co., Ltd. 100% Main Business A pure holding company, owning Morishita Inc.
and Morishita Chemical Industry Co., Ltd.*Capital is to be reduced by JPY 5 million to JPY 100 million on March 31, 2014.
Overview of Morishita Inc. (acquired company)
Location 1900 Isokami, Osafune, Setouchi-shi, Okayama Representative Yasushi Kanzaki
Capital JPY 100 million
Shareholders Marsol Holdings Co., Ltd. 95.06%
The Chugoku Bank, Ltd. 4.94%Main Business Manufacturing and sales of various net products Net Sales JPY 3,039 million (For the year ended May 31, 2013)
Number of Employees 78 Overview of Morishita Chemical Co., Ltd. (acquired company)
Location 1900 Isokami, Osafune, Setouchi-shi, Okayama Representative Yasushi Kanzaki
Capital JPY 100 million
Shareholders Marsol Holdings Co., Ltd. 95.06%
The Chugoku Bank, Ltd. 4.94%Main Business Manufacturing and sales of laminate products and container bags Net Sales JPY 5,230 million (For the year ended May 31, 2013)
Number of Employees 90 Status after Merger (Tentative)
Trade name Morishita Co., Ltd. Location 1900 Isokami, Osafune, Setouchi-shi, Okayama Representative Yasushi Kanzaki
Capital JPY 100 million
Shareholders Rengo Co., Ltd. 96.44%
The Chugoku Bank, Ltd. 3.56%Main Business Manufacturing and sales of various net products,
laminate products and container bags