Business News
Nippon Paper Group Announces the Acquisition of a Subsidiary through the Purchase of Shares in Shikoku Coca-Cola Bottling Co., Ltd.
Monday 15. June 2009 - he Board of Directors of Nippon Paper Group, Inc. ("NPG") today resolved to acquire a 54.93% stake in Shikoku Coca-Cola Bottling Co., Ltd., ("Shikoku Coca-Cola") from NPGs wholly owned subsidiary Nippon Paper Industries Co., Ltd. ("Nippon Paper") [Headquarters, Tokyo, Kita-ku, Oji 1-4-1, President and Representative Director, Yoshio Haga]. Separately, the Board of Directors of Nippon Paper met today to approve the sale of its 54.93% equity holding in Shikoku Coca-Cola. NPG and Nippon Paper today signed a Stock Purchase Agreement for the transfer of this stock. Please see below for the details of the planned transaction.
1. Purpose of Share Acquisition
The planned share purchase is part of the process aimed at making Shikoku Coca-Cola a wholly owned subsidiary of NPG, as disclosed in a separate announcement made by NPG today “Announcement of Nippon Paper Group, Inc.s Conversion of Shikoku Coca-Cola Bottling Co., Ltd., into Wholly Owned Subsidiary through Share Acquisition and Exchange”
2. Profile of Company Subject to Transfer
(1) Company Shikoku Coca-Cola Bottling Co., Ltd.
(2) Business Production and sale of soft drinks
(3) Date of establishment January 7, 1963
(4) Headquarters 1378, Kasuga-cho, Takamatsu-shi, Kagawa-ken
(5) Name and title of
representative Takeo Hashimoto, President and Representative Director
(6) Paid-in capital ¥5,576 million
(7) Net assets
(consolidated, as of
March 31, 2009)
¥42,886 million
(8) Total assets
(consolidated, as of
March 31, 2009)
¥48,271 million
(9) Fiscal year-end December 31
(10)
Number of
employees
(consolidated, as of
March 31, 2009)
939
(11) Consolidated performances for the past three fiscal years
Fiscal year end March
2007
March
2008
March
2009
Net sales (million yen) 54,953 43,578 54,363
Operating income (million
yen) 1,391 1,602 297
Ordinary income (million
yen) 1,596 1,820 588
Net income (million yen) 680 833 145
Net income per share (yen) 28.46 34.89 6.12
Cash dividends per share
(yen) 22.00 16.50 22.00
Net assets per share (yen) 1,838.48 1,847.45 1,856.13
Note: To change its fiscal year-end, Shikoku Coca-Cola implemented a nine-month accounting
period for the term ended on December 31, 2007.
3. Schedule
June 15, 2009 Board of directors meetings approve stock
purchase agreement
June 18, 2009 Effective date for share exchange (Settlement
date)
4. Overview of Counterparty
(1) Company Nippon Paper Industries Co., Ltd.
(2) Business Makes and sells paper and pulp for newsprint, printing and
writing paper, business communication, and industrial paper
(3) Headquarters 1-4-1 Oji, Kita-ku, Tokyo
(4) Name and title of representative Yoshio Haga, President and Representative Director
5. Number of shares to be acquired, acquisition amount, number of shares owned and stakes before and after transaction
(1) Number of shares owned before acquisition 0 (Stake: 0%)
(2) Number of shares to be acquired 13,134,000 (Acquisition amount: 11,111 million yen)
(3) Number of shares owned after acquisition 13,134,000 (Stake: 54.93%)
6. Forecast
This transaction will not have a material impact on NPGs consolidated business results. Please refer to the separate disclosure made today titled “Announcement of Nippon Paper Group, Inc.s Conversion of Shikoku Coca-Cola Bottling Co., Ltd., into Wholly Owned Subsidiary through Share Acquisition and Exchange” for details of the next steps in this process.