SUMIDA: Company News

Merger of Consolidated Subsidiaries

November 19th 2009
Press Release

We SUMIDA CORPORATION inform you of the merger of our consolidated subsidiaries.

  1. Purpose of the Merger
    As our strategic response to the economic crisis, Sumida has this year implemented a major organizational restructuring to completely integrate our operations and centre them around business units – the “Global One Sumida Concept”.
    This time, four of our Japanese subsidiaries are to be merged under the concept.
  2. Outline of the Merger
    1. Schedule
      • Approval of Merger at the Board of Directors Meeting and Conclusion of Merger Agreement (November 19, 2009)
      • Approval of Merger at the Extraordinary AGM (December 4, 2009 (Plan))
      • Effective Day of Merger (January 1, 2010 (Plan))
    2. Subsidiaries to be merged
      Surviving Company:  Sumida Electric Co., Ltd.
      Expired Companies:  Eiwa Co., Ltd., Eiwa Aomori Inc. and Mostec Inc.
    3. Outline of the Subsidiaries to be merged
      As of September 30, 2009
      Company Name Address Representative Capital
      Sumida Electric Co., Ltd. Asahi Building, 3-12-2, Nihonbashi, Chuo-ku, Tokyo, Japan Mr. Suseki Tomoharu 1,000M yen
      Eiwa Co., Ltd.  Asahi Building, 3-12-2, Nihonbashi, Chuo-ku, Tokyo, Japan Mr. Kanji Hori 261M yen
      Eiwa Aomori Inc. 97-3, Uwano, Ohata-machi, Mutsu-City, Aomori, Japan Mr. Kazushi Tobinai 9M yen
      Mostec Inc.  47-1 Miyazu Haizaki, Kyotanabe-City, Kyoto, Japan Mr. Kanji Hori 40M yen
    4. Condition after the Merger
      1. Outline of the Surviving Company
        (*) As of December 31, 2009, the capital to be reduced from 1,000 million yen to 450 million yen. 
        Company Name  Sumida Electric Co., Ltd.
        Major Business Audio and visual devices, OA equipments, automotive-related and industrial equipments and other electronic components
        Research, development, design, manufacturing and distribution of RF coils
        Address Asahi Building, 3-12-2, Nihonbashi, Chuo-ku, Tokyo, Japan
        Representative Representative Director and President
        Mr. Tomoharu Suseki
        Capital  450 million yen (*)
        Financial Year End  December 31
         (*) As of December 31, 2009, the capital to be reduced from 1,000 million yen to 450 million yen.
      2. Change of the Names of Expired Companies
        The expired companies are to be renamed as of January 1, 2010.
        Former Name New Name Address
        Eiwa Co., Ltd. Midorigaoka Factory Nagano Technology Center
        Sumida Electric Co., Ltd.
        4127-3, Kamigodo, Ko,
        Komoro-City, Nagano, Japan
        Eiwa Aomori Inc. Aomori Factory
        Sumida Electric Co., Ltd.
        97-3, Ueno, Ohata-machi,
        Mutsu-City, Aomori, Japan
        Mostec Inc.  Kyoto Technology Center
        Sumida Electric Co., Ltd.
        47-1 Miyazu Haizaki,
        Kyotanabe-City, Kyoto, Japan
      3. Impact on Sumida’s Financial Results
        The impact of establishment the financing subsidiary is insignificant on our consolidated financial results in fiscal year 2008.

 

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