Lion : Notice Concerning Establishment of Subsidiary and Transfer of Business between Subsidiaries in Taiwan
April 30, 2015 at 02:48 am EDT
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Notice Concerning Establishment of Subsidiary and Transfer of Business between Subsidiaries in Taiwan
Based on a resolution made at today's meeting of the Board of Directors, Lion Corporation (hereafter "Lion") herein announces its decision to establish a new wholly owned subsidiary in Taiwan and to transfer the sales and marketing functions of the consolidated Lion subsidiary Lion Chemical Industry (Taiwan) Co., Ltd. (hereafter "Lion Chemical Industry") to said new subsidiary.
1.
Purpose of the Establishment of New Subsidiary and Transfer of Business
Lion will transfer the sales and marketing functions of Lion Chemical Industry to the newly established wholly owned subsidiary in order to strengthen the sales and marketing capabilities and accelerate the decision making of the Lion Group in Taiwan.
2.
Overview of Current Subsidiary
Name:
Lion Chemical Industry (Taiwan) Co., Ltd.
Businesses:
Manufacture and sale of laundry detergents, dishwashing detergents, chemicals, etc.; and sale of toothpastes, toothbrushes, etc.
Date of Establishment:
August 23, 1964
Location:
New Taipei City, Taiwan
Representative:
Ping-Fu Chi
Capital:
TWD 218 million
(approx. JPY 840 million at TWD 1 = JPY 3.85)
Shareholding ratio:
Lion Corporation 53.8%, Others 46.2%
3.
Details of Transfer
a.
Business to be transferred:
Sale of laundry detergents, dishwashing detergents, toothpastes, toothbrushes, chemicals, etc.
Production to remain at Lion Chemical Industry.
b.
Fiscal 2014 business results of the business to be transferred:
Net sales: TWD 1,035 million (approx. JPY 3.98 billion)
4. Overview of New Subsidiary
Name:
Lion Corporation (Taiwan) Co., Ltd. (planned)
Businesses:
Sale of laundry detergents, dishwashing detergents, toothpastes, toothbrushes, chemicals, etc.
Date of establishment:
September 1, 2015 (planned)
Commencement of operations:
January 1, 2016 (planned)
Location:
New Taipei City, Taiwan
Representative:
Ping-Fu Chi
Capital:
TWD 530 million (approx. JPY 2.04 billion)
Shareholding ratio:
Lion Corporation 100%
5.
Forecasts
These activities are expected to have only a minor impact on the non-consolidated and consolidated results of the Lion Group during fiscal 2015.
Lion Corporation is a Japan-based company mainly engaged in the manufacture and sale of consumable goods and industrial products. The Company operates in three business segments. The General Consumable Goods segment purchases and manufactures consumable goods, as well as sells its products through agent stores. This segment also involves pet food trading and over-the-counter management business. The Industrial Goods segment trades industrial products and kitchen cleanser. The Overseas segment manufactures and sells general consumable goods and chemical materials in overseas markets. The Company is also engaged in the design, construction and maintenance of the Company's equipment and the transportation of its products, the real estate, agency and welfare businesses.
LION CORPORATION 
