Maxell : Announcement about completion of acquisition of shares of Kureha Elastomer Co., Ltd.
January 08, 2019 at 01:34 am EST
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FOR IMMEDIATE RELEASE
Announcement about completion of acquisition of shares of
Kureha Elastomer Co., Ltd.
Tokyo, January 8, 2019－Maxell Holdings, Ltd. (TSE: 6810) announced about acquisition of shares of Kureha Elastomer Co., Ltd. (hereinafter "Kureha Elastomer") and to make Kureha Elastomer the Company's subsidiary in "Announcement on acquisition of shares of Kureha Elastomer Co., Ltd.
(New subsidiary company)" on October 30, 2018. Relating to this, the Company announced today that based on share transfer agreement with Toyobo Co., Ltd. (hereinafter "Toyobo") who was the largest shareholder of Kureha Elastomer, acquisition of shares of Kureha Elastomer owned by Toyobo has been completed and inclusion of Kureha Elastomer as its consolidated subsidiary as of today.
By including Kureha Elastomer as consolidated subsidiary, the Company will acquire the high technological capabilities relating to extrusion molding of rubber based materials and thick sheets, and target expansion of the product line up for architecture and building materials, automotive and medical markets defined as center of the Company's growth strategy. Also, the Company will aim for expansion of Industrial Materials business and improvement of profitability by realizing synergy effect with the existing business of the Company.
1. Profile of Kureha Elastomer
(1)Name
Kureha Elastomer Co., Ltd.
(2)Address
2-4-27 Kyutaro-machi, Chuo-ku, Osaka, Japan
(3)Representative
Mr. Kazuhiro Kaizaki, President and Representative Director
(4)Description of Business
Production, processing and sales of industrial rubber products
(5)Capital
100 million yen
(6)Date of establishment
October 16, 1939
(7)End of Fiscal Year
March 31
(8)Number of employees
About 300
(9)Major shareholders and holding ratio
(Ratio against total number of shares
issued excluding treasury shares.)
The Company 81.97%
Marubeni Corporation 9.36%
Others 8.67%
(10)Relationship with the
Company
Capital relation
The Company holds 81.97% of the capital.
Human relation
The Company assigns representative and officers, and sends employees.
Business relation
There is no significant business relation must be disclosed.
2. Future forecast
The Company is planning to reflect the business results of Kureha Elastomer from the fourth quarter of the fiscal year ending March 2019. The influence on the consolidated financial forecast relating to this subject is included in the financial forecast announced on October 30, 2018.
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Hitachi Maxell Ltd. published this content on 08 January 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 08 January 2019 06:33:02 UTC
Maxell Ltd, formerly Maxell Holdings Ltd, is mainly engaged in the manufacturing and sales of energy, industrial materials and electric appliances and consumer products. The Company mainly operates through three business segments. The Energy segment manufactures and sells secondary batteries, such as coin type lithium secondary batteries, industrial lithium ion batteries and electrodes, and consumer lithium ion batteries, primary batteries such as lithium primary batteries and button batteries, and charger and battery packs. The Industrial Materials segment manufactures and sells optical components, functional materials, electroforming and precision parts, semiconductor-related embedded systems, mold and synthetic resin molded parts, adhesive tapes, radio-frequency identification (RFID) systems and Integrated Circuit (IC) cards, industrial rubber products and others. The Electric Appliance and Consumer segment manufactures and sells projectors, small electric equipments and others.
MAXELL, LTD. 
