DOWA HOLDINGS CO., LTD. November 17, 2023
DOWA HOLDINGS CO., LTD.
Notice Regarding Conversion of AKITA ZINC CO., LTD. into a Wholly Owned Subsidiary
DOWA HOLDINGS CO., LTD. (14-1, Sotokanda 4-chome,Chiyoda-ku, Tokyo; Capital: 36.4 billion yen; President: SEKIGUCHI Akira; "the Company") hereby announces that DOWA METALS
- MINING CO., LTD. (same location; Capital: 1 billion yen; President: SUYAMA Toshiaki; "DOWA METALS & MINING"), its subsidiary, has entered into an agreement with Sumitomo Metal Mining Co., Ltd. (11-3, Shimbashi 5-chome,Minato-ku, Tokyo; Capital: 93.2 billion yen; President: NOZAKI Akira) to acquire all shares of AKITA ZINC CO., LTD. (217-9,Furumichi-shimokawabata, Iijima, Akita; Capital: 5 billion yen; President: FUKUDA Kensaku; "AKITA ZINC") owned by Sumitomo Metal Mining Co., Ltd. As a result, AKITA ZINC will become a wholly owned subsidiary of DOWA METALS & MINING.
AKITA ZINC is the largest zinc smelter in Japan with an annual production capacity of 220,000 tonnes, and is part of the core base of DOWA METALS & MINING's nonferrous metals business. Zinc is used for galvanizing steel of automobiles, infrastructure, and construction materials, and its demand is expected to continue to grow steadily worldwide. By making AKITA ZINC a wholly owned subsidiary of DOWA METALS & MINING and further strengthening cooperation with the DOWA Group companies, the Company will further expand the zinc business and promote stable supply of zinc and strengthen international competitiveness.
[Scheduled date of share acquisition]
March 29, 2024
[Overview of DOWA METALS & MINING CO., LTD.]
1. | Head office | 14-1, Sotokanda 4-chome,Chiyoda-ku, Tokyo |
2. | Founded | May 2006 |
3. | Capital | 1.0 billion yen |
4. | Representative | SUYAMA Toshiaki |
5. | Number of employees | Approx. 1,000 (DOWA METALS & MINING consolidated, as of |
March 31, 2023) | ||
6. | Shareholders | DOWA HOLDINGS CO., LTD. 100% |
7. | Business | Smelting business, resource development and raw material |
procurement business |
[Overview of AKITA ZINC CO., LTD.]
1. | Head office | 217-9,Furumichi-shimokawabata, Iijima, Akita |
2. | Founded | February 1971 |
3. | Capital | 5.0 billion yen |
4. | Representative | FUKUDA Kensaku |
5. | Number of employees | Approx. 200 (As of March 31, 2023) |
6. | Shareholders | DOWA METALS & MINING CO., LTD. 86%, |
Sumitomo Metal Mining Co., Ltd. 14% | ||
(Shareholder after share acquisition: DOWA METALS & MINING | ||
CO., LTD. 100%) | ||
7. | Business | Zinc smelting, sulfuric acid production |
Contact for inquiries
DOWA HOLDINGS CO., LTD.
https://ir.dowa.co.jp/en/ir/contact1.html
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Dowa Holdings Co. Ltd. published this content on 17 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 November 2023 06:03:02 UTC.
