Kamigumi : Notice concerning investment in TB Investment Limited Partnership
October 03, 2023 at 02:05 am EDT
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Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
September 22, 2023
Company name
Kamigumi Co., Ltd.
Representative
Yoshihiro Fukai, President & Representative
Director
Stock code
9364; Prime Market, Tokyo Stock Exchange
Inquiries
Takashi Iwashita, General Manager of
General Affairs Department
(Telephone: +81-78-271-5110)
Notice concerning investment in TB Investment Limited Partnership
On September 21, 2023, Kamigumi Co., Ltd. ("Kamigumi" hereinafter) invested 10 billion yen as a limited liability partner in TB Investment Limited Partnership ("Limited Partnership" hereinafter), an investment fund managed and operated by Japan Industrial Partners, Inc. ("JIP" hereinafter) and its group (JIP and JIP subsidiaries and affiliates).
This investment was made in response to notification by the Limited Partnership of a successful takeover bid for Toshiba Corporation ("Toshiba" hereinafter).
Details
1. Purpose of this investment
Under its medium-term management plan, the Kamigumi Group is making progress on a transition in its capital policies for putting funds to active and efficient use through means such as setting up a strategic investment budget as part of its investment plan.
In studying this investment, Kamigumi gave high marks for JIP's management and operational capabilities and the performance of its funds, as well as the feasibility of Toshiba's management improvement plans and policies for increasing its corporate value.
Kamigumi believes this investment will prove highly meaningful to society by helping to rebuild a leading Japanese enterprise under the framework of the investment consortium formed by JIP. It has also determined that this investment has the potential to strengthen its capacity to implement the medium-term management plan through means including strengthening Toshiba's core businesses such as energy and infrastructure, which have high levels of affinity with Kamigumi's businesses, and pursuing strategic investment, while leveraging Kamigumi's own strengths.
Kamigumi has no intention of participating in management through this investment, which it expects to involve only the possibility of collaborations and similar activities with the company.
2. Overview of TB Investment Limited Partnership
(1)
Name
TB Investment Limited Partnership
(2)
Address
1-1 Marunouchi 2-chome,Chiyoda-ku, Tokyo
Execution of a series of transactions aimed at delisting Toshiba, including the
(3)
Purpose of
acquisition of Toshiba common stock by means of the takeover bid through
formation
TBJH Inc., and enhancing the corporate value of Toshiba and its group
companies
(4)
Date formed
March 24, 2023
Name
TBGP, Inc.
(5)
Overview of
Address
1-1 Marunouchi 2-chome,Chiyoda-ku, Tokyo
general partner
Representative
Shinichi Inagaki, Representative Director
Lines of business
Investment-fund management, operation, etc.
3. Amount of investment
(1)
Amount of investment
10 billion yen
4. Progress
(1)
Date of decision by board of directors
November 2, 2022
(2)
Date of conclusion of contract
March 31, 2023
(3)
Date of investment
September 21, 2023
5. Future outlook
At this time, the effect of this investment on Kamigumi's consolidated financial results for the fiscal year ending March 2024 is expected to be minor. Any future matters subject to public announcement will be disclosed promptly.
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Disclaimer
Kamigumi Co. Ltd. published this content on 03 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 October 2023 06:04:09 UTC.
Kamigumi Co., Ltd. is mainly engaged in the logistics service business. The Company operates in two business divisions. The Domestic Logistics segment is engaged in the harbor transportation business, the warehouse business, the freight automobile transportation and other domestic transportation-related business. The Overseas Logistic segment is engaged in the international transportation business. The Company is also involved in the heavy construction machinery work business, the real estate leasing business, the sale and leasing of goods, the finance business, as well as the development, sale and maintenance of software, among others.
KAMIGUMI CO., LTD. 
