2019
Aug.7, 2019
MINEBEA MITSUMI Inc.
Notice of Changes in Specified Subsidiary
MINEBEA MITSUMI Inc. (the "Company") hereby announces the following change in a specified subsidiary.
Description
1. Reason for the Change
On April 10, 2019, the Company acquired 76.2% of the voting rights of U-Shin Ltd. (hereinafter "U-Shin") and made U-Shin a subsidiary of the Company. In addition, the Company acquired 100% of the voting rights at the date when the consolidation of shares became effective as of August 7, 2019.
As a result, U-Shin Slovakia s.r.o., a subsidiary of U-Shin Holdings Europe B.V., which is a 100% owned foreign subsidiary of U-Shin, has become a specified subsidiary as the amount of its capital is more than 10 percent of the capital of the Company.
2. Outline of the Subsidiary to be changed
| (1) Company Name | U-Shin Slovakia s.r.o. | |||
|---|---|---|---|---|
| (2) Address | K letisku Budova 1329, Košice 040 17, Slovakia | |||
| (3) Name of Representative | Tatsuya Mori, Peter Kretovic, Director | |||
| (4) Description of Businesses | Manufacture and sales of automotive parts | |||
| (5) Capital | 58,755 thousand EUR (7,319 millions of yen) | |||
| (6) Date of Incorporation | May 24, 2013 | |||
| (7) Major shareholders and shareholding ratio | U-Shin Holdings Europe B.V. 100% (direct ownership) | |||
| (8) Relationship between the Company and the Subsidiary | Capital relationship | The Company has 100% of the voting rights of U-shin, the parent company of the Subsidiary. | ||
| Personnel relationship | Not applicable. | |||
| Business relationship | Not applicable. | |||
| (9) Operating results and financial position of the Subsidiary for the past three years | ||||
| Fiscal year end | FY2016 | FY2017 | FY2018 | |
| Net asset | (2,455) millions of yen | 193 millions of yen | (511) millions of yen | |
| Total assets | 8,475 millions of yen | 8,658 millions of yen | 5,979 millions of yen | |
| Net Sales | 25,266 millions of yen | 26,813 millions of yen | 22,757 millions of yen | |
| Ordinary income (loss) | (386) millions of yen | (404) millions of yen | 98 millions of yen | |
| Net income (loss) | (1,816) millions of yen | (748) millions of yen | (711) millions of yen | |
3. Transfer (Capital)
| (1) Before change | 58,755 thousand EUR (7,319 millions of yen) (0.0% of voting rights) |
|---|---|
| (2) After change | 58,755 thousand EUR (7,319 millions of yen) (100.0% of voting rights) (As of August 7, 2019) |
4. Date of Change
April 10, 2019
5. Future Outlook
This transaction will have no impact on our consolidated financial results for the fiscal year ending March 31, 2020.
| Company Name: | MINEBEA MITSUMI Inc. |
|---|---|
| Representative: | Yoshihisa Kainuma Representative Director, CEO & COO (Code No. 6479, TSE Div. No. 1) |
| Contact: | Shuji Uehara Director, Senior Managing Executive Officer |
| Phone: | +81-(0)3-6758-6711 |
Product information, contact and other context are subject to change without prior notice.
