SUMIDA: Company News
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.