Mitsui Matsushima : Notice of Business Acquisition by Consolidated Subsidiary MOS
August 23, 2023 at 08:44 pm EDT
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August 4, 2023
To Whom It May Concern:
Company name: Mitsui Matsushima Holdings Co., Ltd.
Representative: Taishi Yoshioka, Representative
Director and President
(Stock Code: 1518, Prime Market of the Tokyo Stock
Exchange and Fukuoka Stock Exchange)
Contact: Mikiko Abe, Executive Officer and General
Manager of Business Planning Dept.
Tel: ＋81-92-771-2171
Notice of Business Acquisition by Consolidated Subsidiary MOS
Mitsui Matsushima Holdings Co., Ltd. (the "Company") hereby announces, as detailed below, that its Board of Directors on August 4, 2023, resolved that MOS Co., Ltd. ("MOS"), a consolidated subsidiary of the Company, would acquire the thermal-paper processing and sales operations of Katsumata Co., Ltd. ("Katsumata"), a consolidated subsidiary (sub- subsidiary) of Mitsubishi Paper Mills Limited ("Mitsubishi Paper Mills").
This business acquisition falls within the scope to which the immateriality standards of the timely disclosure rules apply. However, we are voluntarily disclosing this information because we have determined that it is useful to the market and investors.
1. Reasons for business acquisition
MOS, which joined our group in February 2023, is No. 1 in the industry in the processing and sales of thermal cash register rolls, its main operations. The company's products are used mainly in supermarkets, drugstores, and department stores, which are end users.
Meanwhile, Katsumata has been supplying high-quality thermal paper products, etc. for more than 60 years since its inception and has acquired some market share in this field. Katsumata, for example, has strength in the processing and sales of thermal cash register rolls used by major convenience store chains, etc., which are end users.
MOS will acquire this business and start handling the processing of thermal cash register rolls for the Mitsubishi Paper Mills Group. MOS will thereby enter a market that caters to major convenience store chains, a growing field in which such products are used in large volumes. In this way, we believe that MOS will be able to expand business and further solidify its No. 1 position in the industry. The Company will continue to actively support the
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growth of companies that join our group through M&A as we strive to enhance the corporate value of our group.
After the acquisition of this business, the Company and MOS will continue to make efforts to maintain and expand our relationship with the Mitsubishi Paper Mills Group. The two groups will seek to achieve further growth by collaborating with each other.
2. Outline of the target business Processing and sales of thermal paper
(Note) The business results, financial condition, transfer price, etc. of the target business are withheld at the request of Mitsubishi Oji Paper Sales Co., Ltd..
3. Outline of the company that transfers the business
(1)
Name
Katsumata Co., Ltd.
(2)
Establishment
1976
(3) Address
(Headquarters plant) 1678-5 Miyado, Asaka City, Saitama
Prefecture
(4)
Sales
1.5 billion yen (FY03/23)
(5)
Business
Processing of thermal paper, etc.
(6)
Major shareholder
Mitsubishi Oji Paper Sales Co., Ltd.
(Note) The business results and financial condition of the company are withheld at its request.
4. Outline of the company that acquires the business
Processing and sales of thermal paper, manufacturing and sales
(5)
Business
of recording paper, and processing and sales of polyethylene coin
wrappers
Sales of office supplies and household goods
(6)
Major shareholder
Mitsui Matsushima Holdings Co., Ltd.
5. Timetable
(1) Date of Board of
August 4, 2023
Directors meeting
(2) Contract date
August 4, 2023
(3) Date of business
October 2023 (tentative)
transfer
6. Future outlook
The impact of this matter on the consolidated financial results of the Company is expected to be immaterial for the fiscal year ending March 31, 2024. The Company will disclose any necessary matters promptly as they arise in the future.
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Mitsui Matsushima Co. Ltd. published this content on 24 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 August 2023 00:36:02 UTC.
Mitsui Matsushima Holdings Co Ltd, formerly Mitsui Matsushima Co Ltd is primarily engaged in production, purchase and sales of coal business. The Company also engaged in the manufacture and sale of office equipment, mask blanks for various applications centered on liquid crystal panels, organic electroluminescence (EL), electronic components and others, manufacture and sale of straws, purchase and sale of packaging materials, as well as planning, production and sale of men's clothes, women's clothes and shirts. The Company has two business segments. The Energy segment is engaged in coal sales, coal production and renewable energy business. The Daily Lifestyle segment is engaged in provision of office supplies, electronic components, food and drink materials, clothing products, and care business. The others engage in rental business, ports business, propane gas supply business, as well as overseas dispatch training course business.
MITSUI MATSUSHIMA HOLDINGS CO., LTD. 
