Rengo Co., Ltd. (Head Office: Kita-ku, Osaka; Chairman, President & CEO: Kiyoshi Otsubo) announces that it will carry out the following two mergers with the goal of improving the management efficiency of its consolidated subsidiaries, and also to further improve consolidated performance.
1. Merger of Settsu Carton Co., Ltd. and Saito Shiki Co., Ltd.
Overview of Merger
1.
Date of Merger (Effective date): April 1, 2015 (scheduled)
2.
Merger Procedure
In this absorption-type merger with Settsu Carton Co., Ltd. as the acquiring company, Saito Shiki Co., Ltd. will be dissolved. As two wholly owned subsidiaries will merge, no new shares will be issued and capital will not increase.
Overview of Settsu Carton Co., Ltd. (acquiring company)
Location
5-33 Higashiarioka, Itami-shi, Hyogo Prefecture
Representative
Toshio Niwa
Capital
400 million yen
Shareholders
Rengo Co., Ltd. 100%
Main Business
Manufacturing and sales of corrugated board and boxes
Net Sales
41,817 million yen (For the year ended March 31, 2014)
Number of Employees
594
Overview of Saito Shiki Co., Ltd. (acquired company)
858 million yen (For the year ended March 31, 2014)
Number of Employees
8
2. Merger of Kyoei Danboru Co., Ltd. and Chuo Danboru Co., Ltd.
Overview of Merger
1.
Date of Merger (Effective date): April 1, 2015 (scheduled)
2.
Merger Procedure
Kyoei Danboru Co., Ltd. will be the acquiring company of the merger, and Chuo Danboru Co., Ltd. will be dissolved. Kyoei Danboru will allocate 0.153 new shares for each share in Chuo Danboru, resulting in the issuing of 37,944 shares in Kyoei Danboru. Through this merger, Rengo will become the holder of 95.95% of the shares in Kyoei Danboru.
Overview of Kyoei Danboru Co., Ltd. (acquiring company)
Rengo Co., Ltd. is a paper box manufacturer. The Cardboard and Paper Processing-related segment manufactures and sells paperboard, corrugated board and corrugated boxes in domestic markets. The Soft-type Packaging-related segment manufactures and sells soft-type packaging products and cellophane in domestic markets. The Heavy Duty Packaging-related segment manufactures and sells heavy duty packaging products in domestic markets. The Overseas-related segment manufactures and sells paperboard, corrugated board, corrugated boxes, soft-type and heavy duty packaging products in overseas markets. The Others segment is engaged in the manufacture of nonwoven cloth, the logistic business, insurance agency business, lease business and real estate business.