Lion : Notice Concerning Capital Increase in Consolidated Subsidiary
December 27, 2017 at 01:14 am EST
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December 27, 2017
Company name:
Lion Corporation
Representative:
Itsuo Hama, Representative Director,
President and Executive Officer
Security code:
4912; the First Section of the Tokyo
Stock Exchange
Notice Concerning Capital Increase in Consolidated Subsidiary
Based on a resolution passed today by its Board of Directors, Lion Corporation announces its decision to increase its capital investment in its consolidated subsidiary Lion Corporation (Thailand) Ltd. ("Lion Thailand").
1. Purpose of the Capital Increase
Lion Thailand is a joint venture of Lion Corporation and the Saha Group, a major general consumer product group in Thailand. In preparation for business expansion and to create a framework that will allow Lion Thailand to flexibly handle businesses subject to regulation under Thailand's Foreign Business Act, such as OEM production for the Saha Group and service operations, Lion Thailand will raise additional capital by issuing new stock to be acquired by Lion Corporation and the Saha Group. As a result, Lion Thailand's ownership ratio will change.
Note that because the new stock to be issued will be a combination of common stock and non-voting stock, Lion Thailand's voting rights ratio will be unchanged, and Lion Thailand will continue to operate as an important consolidated subsidiary of Lion Corporation after the change in its ownership ratio.
2. Overview of the Subsidiary
Name:
Lion Corporation (Thailand) Ltd.
Location:
Bangkok, Thailand
Representative:
Chairman Boonyarith Mahamontri
Businesses:
Manufacture and sale of toothpastes, toothbrushes, laundry
detergents,dishwashing detergents, etc.
Capital:
300 million Thai baht
Ownership:
Lion Corporation: 51.0%; Saha Group: 49.0%
3. Overview of the Capital Increase
Shares to be issued: Common stock: 1,088,000 shares; Non-voting stock: 912,000 shares (with 228,000 voting rights)
Investment ratio after the capital increase: Lion Corporation: 49.0%; Saha Group: 51.0%
Voting rights ratio after the capital increase: Lion Corporation: 51.0%; Saha Group: 49.0%
4. Overview of Recipient of New Stock
Name:
Saha Pathana Inter-Holding PLC.
Location:
Bangkok, Thailand
Representative:
Chairman Boonsithi Chokwatana
Businesses:
Investing, industrial park operation, etc.
*Saha Pathana Inter-Holding PLC. is a core company of the Saha Group and owns 24.8% of the shares of Lion Thailand.
*In addition to Saha Pathana Inter-Holding PLC., three companies and two individuals (all shareholders of Lion Thailand) will be recipients of the new stock.
5. Schedule
Capital increase: Late January 2018
6. Forecasts
This capital increase will have only a minor impact on the consolidated results of the Lion Group for the fiscal year ending December 2017.
Lion Corporation published this content on 27 December 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 27 December 2017 06:14:01 UTC.
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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 
