Announcement of the Conclusion of Stock Purchase Agreement of LIXIL SUZUKI SHUTTER CORPORATION [PDF:114.2 KB]
July 31, 2018 at 02:51 am EDT
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SANWA HOLDINGS CORPORATION
Nishi-Shinjuku 2-1-1 Shinjuku-ku
Tokyo 163-0478, Japanhttp://www.sanwa-hldgs.co.jp/english/
31st July, 2018
Announcement of the Conclusion of Stock Purchase Agreement of
LIXIL SUZUKI SHUTTER CORPORATION
Sanwa Holdings Corporation (hereinafter "Sanwa") is pleased to announce that Sanwa has decided to conclude a Stock Purchase Agreement to acquire LIXIL SUZUKI SHUTTER CORPORATION (hereinafter "LIXIL SUZUKI") with LIXIL Corporation (hereinafter "LIXIL"). LIXIL SUZUKI is a consolidated subsidiary of LIXIL.
This acquisition is conditional upon approval by Japan Fair Trade Commission.
1. Purpose of the acquisition
In Sanwa's "Second Three Year Plan" ended in FY2018 and also in "Sanwa Global Vision 2020", Sanwa Group in Japan has been focusing on the enhancement of core businesses such as shutters & steel doors and maintenance service business following the legislation for inspection reporting system of fire-proof equipment.
The acquisition of LIXIL SUZUKI is expected to generate the significant synergies in the above business areas by combining Sanwa's strength in region-based sales with top share with LIXIL SUZUKI's strong customer base fostered by its 115 year history.
2. Company overview of LIXIL SUZUKI
(1) Name
LIXIL SUZUKI SHUTTER CORPORATION
(2) Representative
Satoshi Yamada, President
(3) Head Office
1-1-4 Minami Otsuka, Toshima-ku, Tokyo Japan
(4) Date of establishment
July 23, 1936 (founded in 1903）
(5) Business lines
Manufacture, Sales and Service of various types of shutters
(6) Employees
489 as of end of March 2018
(7) Capital
1,989 million yen
(8) Shareholder
LIXIL Corporation
100%
(9) Three-year Business results
Years ended Mar.31
2016
2017
2018
Total net assets
¥9,095 mil.
¥9,467 mil.
¥9,611 mil.
Total assets
¥12,642 mil.
¥12,880 mil.
¥13,585 mil.
Net sales
¥12,005 mil.
¥11,135 mil.
¥11,956 mil.
Operating income
¥832 mil.
¥834 mil.
¥848 mil.
Ordinary income
¥825 mil.
¥1,197 mil.
¥1,138 mil.
Net income
¥549 mil.
¥811 mil.
¥800 mil.
3. Schedule of the acquisition
Resolution of the Board of Directors
July 31, 2018
Conclusion of the Stock Purchase Agreement
July 31, 2018 (expected)
Stock Transfer
After the approval by Japan Fair Trade
Commission
4. Impact on Sanwa's FY2018 consolidated forecast
As the acquisition is after the approval by Japan Fair Trade Commission and the date of acquisition is not determined, we announce the impact when the date is determined and we consider that we need to disclose.
(Reference) LIXIL Corporation
(1) Name
LIXIL Corporation
(2) Representative
Kinya Seto, President & CEO
(3) Location
2-1-1 Ojima, Koto-ku, Tokyo 136-8535, Japan
(4) Business Lines
LIXIL is a global leader in housing and building materials
products and service.
(5) Capital
34.6 billion yen
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Disclaimer
Sanwa Holdings Corporation published this content on 31 July 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 31 July 2018 06:47:05 UTC
Sanwa Holdings Corporation is a Japan-based company mainly engaged in the manufacture and sale of building and commercial facility construction materials, as well as the provision of maintenance and renovation services. The Company operates in three geological segments, including Japan segment, North America segment and Europe segment. Its products include shutters and related products, doors for buildings, partitions, stainless products, front desk products, windows, doors for housing, exterior products, garage doors for houses, and vehicle doors, etc.
SANWA HOLDINGS CORPORATION 
