SUMIDA: Company News

Notice on the Merger of Wholly Owned Subsidiaries

January 4th 2022
Press Release

SUMIDA CORPORATION (“SUMIDA”) announces that it has completed the merger of two wholly owned subsidiaries, Pontiac Coil Inc. and Sumida America Components Inc.

1. Purpose of the Merger of Two Wholly Owned Subsidiaries

(i) To accelerate synergies between Pontiac Coil Inc., an electronic component manufacturing and sales company, and Sumida America Components Inc., an electronic component sales company, through the merger and (ii) to aim to further develop customers in NAFTA markets, focusing on automotive, i.e. EV/xEV related products.

2. Outline of the Merger

(1) Date of Merger: December 31, 2021

(2) Merger Method: An absorption-type merger with Pontiac Coil Inc. (The company name was
                                  changed to Sumida America Inc. on November 10, 2021.) as the surviving
                                  company.

(3) Outline of Two Wholly Owned Subsidiaries to be Merged

  Capital Shareholder Date of Establishment Main Business
Pontiac Coil Inc. US$21 Sumida America Holdings Inc.(100%) November 21, 1958 Manufacturing and sales of electronic components
Sumida America Components Inc. US$6,350,000 Sumida Corporation(100%) February 5, 1997 Sales of electronic components

 

(4) Outline of the Company after the Merger

Company Name Sumida America Inc.
Shareholder Sumida America Holdings Inc.
Address 5800 Moody Drive, Clarkston, MI 48348, USA
Capital US$ 6,350,021
Business Description Manufacturing and sales of electronic components
Representative President Eiji Moriwaki

 

3. Impact on Business Performance

Since this is a merger between two wholly owned subsidiaries of SUMIDA, the impact on the consolidated financial results of SUMIDA will be minor.

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