February 26, 2018

Pioneer to Transfer Shares of Its Subsidiary

Tokyo, Japan -― Pioneer Corporation has announced, by a resolution at a meeting of its Board of

Directors held today, it will transfer all shares of Pioneer FA Corporation (hereinafter "Pioneer FA"), its consolidated subsidiary, to SHINKAWA LTD. (hereinafter "SHINKAWA").

Background

Pioneer FA provides mounting and inspection devices for electronic components used in smartphones and automobiles, as well as production technology solutions. The SHINKAWA Group is responsible for the development, manufacturing, and sales of semiconductor manufacturing equipment to semiconductor and electrical makers on the global stage, as well as providing after-sales services. Pioneer reached to this resolution as part of its groupwide strategy of business selection and concentration, judging that the transfer of all shares of Pioneer FA to SHINKAWA would expedite Pioneer FA's business expansion and enhance corporate value as a member of the SHINKAWA Group.

Outline of Pioneer FA Corporation

  • (i) Company name: Pioneer FA Corporation

  • (ii) Location: 7-1, Chiyoda 5-chome, Sakado-shi, Saitama 350-0286, Japan

  • (iii) Representative: Hiroshi Kobayashi, President and Representative Director

  • (iv) Principal businesses: Designing, manufacturing and retailing mounting devices, assembly machines and inspection devices for all sorts of electronic components. Developing and retailing software for each type of production.

  • (v) Stated capital: 353 million yen

  • (vi) Incorporation: October 31, 1995

  • (vii) Shareholder: Pioneer Corporation (100%)

Outline of SHINKAWA LTD.

  • (i) Company name: SHINKAWA LTD.

  • (ii) Location: Shinjuku Front Tower 32F, 2-21-1 Kitashinjuku, Shinjuku-ku, Tokyo 169-0074, Japan

  • (iii) Representative: Takashi Nagano, President and CEO, Representative Director

  • (iv) Principal businesses: Research, development, designing, manufacturing, sales and after-sales service of semiconductor manufacturing equipment.

  • (v) Stated capital: 8,360 million yen

  • (vi) Incorporation: August 6, 1959

  • (vii) Stock listing: Tokyo Stock Exchange, First Section (stock code: 6274)

Schedule

Resolution of the Board of Directors Meeting: February 26, 2018 Execution of the Agreement: February 26, 2018

Closing date: June 1, 2018(scheduled)

Outlook

There is no effect of this matter on Pioneer's consolidated business forecasts for the fiscal year ending March 2018.

Pioneer Corporation published this content on 26 February 2018 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 26 February 2018 08:32:01 UTC.

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