For immediate release
March 29, 2019 | |
Company name: | Makita Corporation |
Representative: | Munetoshi Goto, President, Representative Director |
Stock ticker code: | 6586 |
Announcement on Acquisition of Shares of Amadera Pneumatics Co., Ltd.
(Conversion into a Subsidiary)
Makita Corporation (hereinafter referred to as "Makita") is pleased to announce that it has concluded a share transfer agreement to acquire all of the shares of Amadera Pneumatics Co., Ltd. (hereinafter referred to as "Amadera Pneumatics") and convert the company into a subsidiary.
While the transaction does not fall under timely disclosure standards, the information is disclosed voluntarily based on the judgment that it is useful information.
I. Purpose of share acquisition
Headquartered in Ohta-ward, Tokyo, Amadera Pneumatics is a manufacturer engaged in the manufacture of air compressors used primarily for nailing at building sites.
As a comprehensive electric tool manufacturer, Makita has broad lines of pneumatic tools (e.g. pneumatic nailers, air compressors) and intends to enhance its business base by making Amadera Pneumatics a consolidated subsidiary of the Makita Group.
II. Profile of Amadera Pneumatics | |||
(1) | Name | Amadera Pneumatics Co., Ltd. | |
(2) | Location | 2-50-12Nishi-rokugo,Ohta-ward, Tokyo, Japan 144-0056 | |
(3) | Main business | Manufacturing and sale of industrial compressors | |
(4) | Capital | 32 million yen | |
(5) | Established | April 26, 1952 | |
(6) | Relationship with Makita | Air compressors are partially supplied on an OEM basis. | |
(7) | Business results of the said | Sales | 1,238 million yen |
company | Operating profit | 15 million yen | |
(fiscal period ended July 2018) | Net income | 14 million yen |
III. Number of shares transferred and number of shares held before/after transfer
(1) | Number of shares held before transfer | 0 |
(2) | Number of shares transferred | 64,000 |
(3) | Number of shares held after transfer | 64,000 |
* Acquisition price shall not be disclosed due to confidential agreement.
IV. Schedule
Execution date of share transfer: March 29, 2019
V. Future outlook
The impact on Makita's consolidated results for the period ending March 31, 2019 is immaterial.
English Translation of press release originally issued in Japanese
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Disclaimer
Makita Corporation published this content on 29 March 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 29 March 2019 07:15:13 UTC