January 30, 2018
Company name:
Name of representative:Murata Manufacturing Co., Ltd. Tsuneo Murata
Chairman of the Board, President and Representative Director
Contact:
(Code: 6981, First section of the Tokyo Stock Exchange) Takumi Ikushima
General Manager of Corporate Communication Department (Phone: 075-955-6786)
Notice Regarding Absorption-type Merger with Consolidated Subsidiary
Murata Manufacturing Co., Ltd. (the "Company") hereby announces that at a meeting of the Board of Directors held today, a resolution was passed to conduct an absorption-type merger with Murata Active Partner Co., Ltd. ("Murata Active Partner"), a wholly-owned subsidiary of the Company, effective April 1, 2018. Furthermore, as this merger is a simple absorption-type merger involving a wholly-owned subsidiary of the Company, certain items and details have been omitted from this disclosure.
1. Objective of the merger
Murata Active Partner is a wholly-owned subsidiary of the Company that manages educational activities within the Group. In order to strengthen the Group's monozukuri (manufacturing) capabilities, the Company must further accelerate its development of human resources, and has thus decided to integrate the "monozukuri human resource development" functions of the Company and Murata Active Partner.
2. Summary of the merger
(1) Schedule of the merger
January 30, 2018 Resolution to conduct the merger by the Board of Directors January 30, 2018 Conclusion of merger agreement
April 1, 2018 Scheduled merger date (effective date)
(Note) This merger is categorized as a simple merger for the Company as defined in Article 796, Paragraph 2 of the Companies Act, and as a summary merger for Murata Active Partner as provided for in Article 784, Paragraph 1 of the Companies Act, and therefore shall be conducted by both companies without obtaining approval at a General Meeting of Shareholders for the merger agreement pertaining to this merger.
(2) Merger method
This merger shall be an absorption-type merger, with the Company as the surviving company and Murata Active Partner as the absorbed company.
(3) Details of any allotment pertaining to the merger
This merger is a merger with a wholly-owned subsidiary of the Company, and there shall be no allotment of shares or payment of any other consideration.
(4) Treatment of any subscription rights to shares or bonds with subscription rights to shares accompanying the merger
The absorbed company has not issued any subscription rights to shares or bonds with subscription rights to shares.
3. Outline of the companies participating in the merger (as of September 30, 2017)
Surviving company (the Company) | Absorbed company (Murata Active Partner) | ||
(1)Company name | Murata Manufacturing Co., Ltd. | Murata Active Partner Co., Ltd. | |
(2)Location of head office | 10-1, Higashikotari 1-chome, Nagaokakyo-shi, Kyoto | 10-1, Higashikotari 1-chome, Nagaokakyo-shi, Kyoto | |
(3)Title and name of representative | Tsuneo Murata Chairman of the Board, President and Representative Director | Toshiyuki Nakai President and Representative Director | |
(4)Details of business | Research, manufacturing and sales of electronic devices made from functional ceramic materials | Operations related to education | |
(5)Capital | ¥69,444 million | ¥10 million | |
(6)Date of incorporation | December 23, 1950 | February 3, 2003 | |
(7)Number of issued shares | 225,271,427 shares | 1,000 shares | |
(8)End of fiscal term | March 31 | March 31 | |
(9)Major shareholders and shareholding ratio (Note 1) | JP MORGAN CHASE 8.3% BANK 380055 Japan Trustee Services 5.2% Bank, Ltd. (Trust Account) The Master Trust Bank 3.6% of Japan, Ltd. (Trust Account) Nippon Life Insurance 3.3% Company STATE STREET 3.2% BANK AND TRUST COMPANY | ・Murata Manufacturing Co., Ltd. 100% | |
(10)Operational results and financial condition for the immediately preceding fiscal year | |||
Accounting period | Fiscal year ended March 31, 2017 (consolidated) | Fiscal year ended March 31, 2017 (non-consolidated) | |
Net assets | ¥1,355,334 million | ¥508 million | |
Total assets | ¥1,634,999 million | ¥617 million | |
Net assets per share (¥) | ¥6368.48 (Note 2) | ¥508,896.88 | |
Net sales | ¥1,135,524 million | ¥304 million | |
Operating income | ¥201,215 million | ¥12 million | |
Ordinary income | ¥200,418 million (Note 3) | ¥12 million | |
Net income | ¥156,060 million (Note 4) | ¥163 million | |
Basic earnings per share (¥) | ¥733.87 (Note 4) | ¥163,203.65 |
(Note 1) | As of September 30, 2017, the Company holds 12,526,490 shares of treasury stock (5.6%). |
(Note 2) | As the Company's consolidated financial statements are prepared in accordance with generally accepted |
accounting principles in the United States ("U.S. GAAP"), "shareholders' equity per share" is presented. | |
(Note 3) | "Income before income taxes" calculated based on U.S. GAAP is presented. |
(Note 4) | "Net income attributable to Murata Corporation" and "basic earnings attributable to Murata Corporation per |
share" calculated based on U.S. GAAP are presented. |
4. Status of the Company after the merger
There shall be no change to the Company's name, location of head office, title and name of representative, details of business, capital, or accounting period after this merger.
5. Future prospects
This merger shall not have any impact on the consolidated results of the Company.
END
Murata Manufacturing Co. Ltd. published this content on 30 January 2018 and is solely responsible for the information contained herein.
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