RENGO CO., LTD. Rengo Co., Ltd. (Head Office: Kita-ku, Osaka; Chairman, President & CEO: Kiyoshi Otsubo) announces that it has made its affiliated company Tohoku Shiki Co., Ltd. (Head Office: Morioka-shi, Iwate Prefecture; President: Giichi Akazawa) a subsidiary by subscribing for an allocation of new shares to a third party by Tohoku Shiki.
Tohoku Shiki is a corrugated packaging manufacturer that carries out business mainly in Iwate Prefecture. It has a long history and an excellent customer base, centered on the fruit and vegetable industry.
Rengo will strengthen its partnership with neighboring Rengo plants and Group companies, seeking to enhance the Rengo Group's corrugated packaging business in the Tohoku region.
Overview of Tohoku Shiki Co., Ltd.
| Location | 2-22-50 Mitake, Morioka-shi, Iwate Prefecture |
| Representative | Giichi Akazawa |
| Capital | JPY 240 million* |
| Shareholders |
Rengo Co., Ltd. 55.02% Akazawa Shigyo Co., Ltd. 14.40% etc. |
| Main Business | Manufacturing and sales of corrugated board and boxes |
| Net Sales | JPY 1.2 billion (For the year ended April 30, 2014) |
| Plant |
Shizukuishi Plant (Nishianiwa, Shizukuishi-cho, Iwate-gun, Iwate Prefecture) |
| Number of Employees | 37 |
* A capital reduction is planned of the same amount as the capital increase, so there will be no change to the capital amount.
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