SUMIDA CORPORATION would like to inform you of the pending merger of our consolidated subsidiaries.
- Purpose of the Merger
Sumida has been implementing a major organizational restructuring to integrate our operations and centre them around business units – the “Global One Sumida Concept”. In line with this restructuring, two of our Japanese subsidiaries are to be merged.
- Outline of the Merger
- Schedule
- Approval of the merger at the subsidiaries’ board of directors meeting (February 9, 2010)
- Conclusion of the merger agreement (February 9, 2010)
- Approval of the merger at the extraordinary AGM of the subsidiaries (March 23, 2010 (Plan))
- Effective day of the merger (April 1, 2010 (Plan))
- Subsidiaries to be merged
- Sumida Electric Co., Ltd. (post-merger the merged company)
- Concord Electronics Industries Co., Ltd. (post-merger the deregistered company)
- Outline of the Subsidiaries
as of December 31, 2009 |
Company Name: |
Sumida Electric Co., Ltd. |
Concord Electronics Industries Co., Ltd. |
Major Business: |
Research, development, design, manufacturing and distribution of high currency coils and other electronic components for audio and visual devices, OA equipments, automotive-related, industrial and medical equipments |
Research, development and distribution of high currency transformers and reactors for consumer electronics, industrial and medical equipments |
Address: |
Asahi Building, 3-12-2, Nihonbashi, Chuo-ku, Tokyo |
604-1, Motohara, Sanada-machi, Ueda-city, Nagano |
Representative: |
Representative director and president Mr. Tomoharu Suseki |
Representative director and president Mr. Kanji Hori |
Capital: |
450 million yen |
54 million yen |
Financial Year End: |
December 31 |
December 31 |
- The Post-Merger Situation
- Company name
Company name of Sumida Electric Co., Ltd. will remain unchanged. A production site of Concord Electronics Industries Co., Ltd. will be changed to:
Sanada Factory of Sumida Electric Co., Ltd. (As from April 1, 2010)
- Impact on Sumida’s Financial Results
The impact of merger of the subsidiaries on our consolidated financial results in fiscal year 2010 is insignificant.
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