Rengo Subsidiaries Marsol Holdings,
Morishita and Morishita Chemical Industry to Merge
Rengo Co., Ltd. (Head Office: Kita-ku, Osaka; President & CEO: Kiyoshi Otsubo) announces that Marsol Holdings Co., Ltd., Morishita Inc. and Morishita Chemical Industry Co., Ltd. will be merged as follows with the goal of improving the management efficiency of its consolidated subsidiaries, and also to further improve consolidated performance.
Marsol Holdings Co., Ltd. will serve as the acquiring company, inheriting all rights and obligations of Morishita Inc. and Morishita Chemical Industry Co., Ltd., which will both be dissolved.
Furthermore, on the date of the merger, Marsol Holdings Co., Ltd. will change its trade name to "Morishita Co., Ltd.," and receive the transfer of the business and employees of the acquired companies Morishita Inc. and Morishita Chemical Industry Co., Ltd.
1.
Date of Merger (Effective date):
April 1, 2014 (scheduled)
2.
Merger Procedure:
Marsol Holdings Co., Ltd. will be the acquiring company of the merger, and Morishita Inc. and Morishita Chemical Industry Co., Ltd. will be dissolved.
Marsol Holdings Co., Ltd. will allocate 0.00032 new shares for each share in Morishita Inc., resulting in the issuing of 1,643 shares in Marsol Holdings Co., Ltd. Marsol Holdings Co., Ltd. will allocate 0.00048 new shares for each share in Morishita Chemical Industry Co., Ltd., resulting in the issuing of 2,500 shares in Marsol Holdings Co., Ltd. Through this merger, Rengo will become the holder of 96.44% of the shares in Marsol Holdings Co., Ltd.
Overview of Marsol Holdings Co., Ltd. (acquiring company)
Location
1900 Isokami, Osafune, Setouchi-shi, Okayama
Representative
Yasushi Kanzaki
Capital
JPY 105 million
Shareholders
Rengo Co., Ltd. 100%
Main Business
A pure holding company, owning Morishita Inc.
and Morishita Chemical Industry Co., Ltd.
*Capital is to be reduced by JPY 5 million to JPY 100 million on March 31, 2014.
Overview of Morishita Inc. (acquired company)
Location
1900 Isokami, Osafune, Setouchi-shi, Okayama
Representative
Yasushi Kanzaki
Capital
JPY 100 million
Shareholders
Marsol Holdings Co., Ltd. 95.06%
The Chugoku Bank, Ltd. 4.94%
Main Business
Manufacturing and sales of various net products
Net Sales
JPY 3,039 million (For the year ended May 31, 2013)
Number of Employees
78
Overview of Morishita Chemical Co., Ltd. (acquired company)
Trade name
Morishita Co., Ltd.
Location
1900 Isokami, Osafune, Setouchi-shi, Okayama
Representative
Yasushi Kanzaki
Capital
JPY 100 million
Shareholders
Rengo Co., Ltd. 96.44%
The Chugoku Bank, Ltd. 3.56%
Main Business
Manufacturing and sales of various net products,
laminate products and container bags
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.
RENGO CO., LTD. 
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