Acquisition of Nichimen Corporation's IT-related subsidiaries by ITX Corporation
Jul. 13, 2000
Nissho Iwai Corporation
Code No. 8063
2-4-5 Akasaka, Minato-ku, Tokyo
2-5-8 Imabashi, Chuo-ku, Osaka
Japan
Contact:
Ito TEL(03)3588-4715
To whom it may concern
It is hereby notified that with effect from July 13, 2000, the stock of Nichimen Corporation's 5 IT-related subsidiaries will be acquired by ITX Corporation, a subsidiary of Nissho Iwai Corporation.
Notice
1.Purpose of Transfer
ITX Corporation, a subsidiary of Nissho Iwai Corporation, recognizes Nichimen Corporation as a strategic business partner in the field of Information Technology. As the next strategic step in the expansion of its operations in this field, ITX Corporation has decided to acquire the stock of 5 IT-related subsidiaries of Nichimen Corporation.
2.Details of Transfer
Please refer to the appendix.
(2) Valuation and settlement:
Outright purchase of all stock held by Nichimen Corporation
Transfer value: Approx. JPY43 billion (in cash)
3.Corporate profile of Nichimen Corporation
(2)Stock Exchange Listing : Tokyo, Osaka, Nagoya, Kyoto
(3)Direct relations with Nissho Iwai Corporation None
4.Schedule
July 13, 2000Conclusion of stock purchase agreement
5.Future prospects
This increase in the ranks of consolidated subsidiaries is expected to lead to increased sales revenues and profits, but the original performance forecast of fiscal 2000 is not changed at present.
Profile of the companies being acquired
Name | Nichimen Telecom Inc. | Nichimen Data Systems Co. | Nichimen Graphics Co. |
Major Business | Sale & Service of mobile communication equipment | Sale, maintenance of H/W and S/W pertaining to computers and network equipment, as well as training and consulting; Systems integration and solutions | Sale of S/W and H/W; System Integration; Technical support; Systems training and maintenance services |
Established | 15 Nov.1993 | 30 Aug.1984 | 29 Jul.1985 |
Headquarters | 2-51-3, Akabane Kita-ku , Tokyo | 2-19, Yanagibashi Taito-ku, Tokyo | 3-20-14 Higashi Gotanda, Shinagawa-ku, Tokyo |
President | Naganori Tanaka | Takashi Yuri | Ryuji Urushizaki |
Number of Employees | 204 (as of 30 June 2000) | 132 (as of 30 June 2000) | 40 (as of 30 June 2000) |
Shareholders' equity | 360 million Yen | 100 million Yen | 100 million Yen |
Financial performance & Assets | Dec.1999 | Mar.2000 | Mar.2000 |
Sales | 47,898millionYen | 4,630millionYen | 2,035millionYen |
Recurring Profit | 893 | 123 | 82 |
Total Assets | 12,558 | 3,301 | 1,736 |
Name | Nichimen Electronic Components Co. | Nichimen Electronic Technology Co. |
Major Business | Wholesale trade in electronic components as well as telecommunication and home-use equipment | Development, sale and consulting pertaining to equipment and machinery utilizing Plasma and related technologies |
Established | 4 Apr.1988 | 6 Apr.1993 |
Headquarters | 1-6-28, Nakatsu, Kita-ku, Osaka | 716-1, Ohnohara village shimo-Aksaka Kawagoe-shi, Saitama |
President | Shinichi Komeda | Shigekazu Tada |
Number of Employees | 32 (as of 30 June 2000) | 4 (as of 30 June 2000) |
Shareholders' equity | 320 million Yen | 180 million Yen |
Financial performance & Assets | Mar.2000 | Mar.2000 |
Sales | 3,501million Yen | 1,311million Yen |
Recurring Profit | 46 | 2 |
Total Assets | 2,191 | 239 |