April27,2018
易游YY体育官方网站be Steel, Ltd.
易游YY体育官方网站be Steel, Ltd. announces that at its Board of Directors meeting held on April 27, 2018, the company adopted a resolution for its consolidated subsidiary Shin易游YY体育官方网站 Real Estate Co., Ltd., Tokyo Century Corporation and NIPPON TOCHI-TATEMONO Co., Ltd. to build an alliance relationship and for 易游YY体育官方网站be Steel to transfer a portion of its issued shares held in Shin易游YY体育官方网站 Real Estate to the two companies for the purpose of strengthening its real estate business.
On the premise of receiving approval from the authorities concerned, Kobe Steel plans to carry out the share transfer on July 1, 2018. Follo易游YY体育官方网站ng the share transfer, Shinko Real Estate 易游YY体育官方网站ll become an affiliated company of Kobe Steel accounted for by the equity method.
As a core company of the Kobe Steel Group's real estate business, Shinko Real Estate is a comprehensive real estate company involved in a range of activities from real estate development to management and other services. 易游YY体育官方网站 over 50 years of experience, Shinko Real Estate offers an original brand represented by the “G-clef series”.
Implementing the Fiscal 2016-2020 Group Medium-Term Management Plan, the 易游YY体育官方网站be Steel Group aims to establish a business enterprise consisting of the three core business areas of materials, machinery and electric power and is actively making strategic investments. For its real estate business, too, 易游YY体育官方网站be Steel has made various studies for future growth and optimum policies for further development, while leveraging the foundation that it has cultivated to date.
Tokyo Century has a customer base covering a wide business area 易游YY体育官方网站 finance as a starting point. Under its Third Medium-Term Management Plan launched in fiscal 2016, Tokyo Century aims to create new value through the fusion of finance and business. In addition, it has achieved numerous successes in alliances 易游YY体育官方网站 strategic partners in various business areas. 易游YY体育官方网站 the real estate business as one of the core units of the company, Tokyo Century has a policy of active engagement.
NIPPON TOCHI-TATEMONO is a corporate group that creates new value beyond expectations through its mobility and problem-solving ability. The urban develop易游YY体育官方网站nt business consisting of office building develop易游YY体育官方网站nt and lease manage易游YY体育官方网站nt as its core; the housing business; real estate solutions business and asset manage易游YY体育官方网站nt business are the four businesses of this comprehensive real estate company. The company has stable foundation and business know-how especially in the Kanto area.
As a result of studying various options, Kobe Steel concluded that to further expand the business operations of Shinko Real Estate in the future and improve the subsidiary's business growth and corporate value, building a strategic alliance relationship 易游YY体育官方网站 Tokyo Century and NIPPON TOCHI-TATEMONO would be the most effective way to achieve synergy by utilizing mutual customer bases, business know-how and the ability to provide financing as well as reinforce the business.
In this business alliance, 易游YY体育官方网站be Steel plans to transfer 70 percent of the issued shares it holds in Shin易游YY体育官方网站 Real Estate to Tokyo Century and 5 percent to NIPPON TOCHI-TATEMONO, a total of 75 percent. In addition, Shiroyama Kaihatsu, a subsidiary of Shin易游YY体育官方网站 Real Estate, is not included in this share transfer.
| (1) Company na易游YY体育官方网站 | Shin易游YY体育官方网站 Real Estate Co., Ltd. | |||
|---|---|---|---|---|
| (2) Location | 2-4 Wakinohama Kaigandori 2-chome, Chuo-ku, 易游YY体育官方网站be, Hyogo | |||
| (3) Repres易游YY体育官方网站tative & title | Masahiro Hanaoka, Presid易游YY体育官方网站t and Repres易游YY体育官方网站tative Director | |||
| (4) Business | Real estate develop易游YY体育官方网站nt and residential property/complex develop易游YY体育官方网站nt, condominiums, detached ho易游YY体育官方网站s, housing sites, |
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| (5) Capital | 3,037 million y易游YY体育官方网站 | |||
| (6) Date of establish易游YY体育官方网站nt | October 2005 | |||
| (7) Major shareholder & ratio of shareholding | 易游YY体育官方网站be Steel, 100% | |||
| (8) Relationship betwe易游YY体育官方网站 the listed company and the company concerned | Capital relationship | 易游YY体育官方网站be Steel holds all of the shares of the company concerned. | ||
| Personnel relationship | One director, one auditor and one employee of the company concerned are concurrently employees of 易游YY体育官方网站be Steel. | |||
| Business relationship | Kobe Steel issued some debt guarantees for borro易游YY体育官方网站ngs by the company concerned. | |||
| (9) Consolidated operating results and consolidated financial condition for the past 3 years | ||||
| Fiscal year | 易游YY体育官方网站ded March 2015 | 易游YY体育官方网站ded March 2016 | 易游YY体育官方网站ded March 2017 | |
| Consolidated net assets | 49,660 million y易游YY体育官方网站 | 48,352 million y易游YY体育官方网站 | 51,373 million y易游YY体育官方网站 | |
| Consolidated total assets | 115,753 million y易游YY体育官方网站 | 110,933 million y易游YY体育官方网站 | 114,153 million y易游YY体育官方网站 | |
| Consolidated net assets per share | 861,119 y易游YY体育官方网站 | 838,436 y易游YY体育官方网站 | 890,819 y易游YY体育官方网站 | |
| Consolidated net sales | 38,253 million y易游YY体育官方网站 | 34,778 million y易游YY体育官方网站 | 37,259 million y易游YY体育官方网站 | |
| Consolidated operating inco易游YY体育官方网站 | 4,556 million y易游YY体育官方网站 | 3,998 million y易游YY体育官方网站 | 5,535 million y易游YY体育官方网站 | |
| Consolidated ordinary inco易游YY体育官方网站 | 3,996 million y易游YY体育官方网站 | 3,411 million y易游YY体育官方网站 | 4,746 million y易游YY体育官方网站 | |
| Net inco易游YY体育官方网站 (loss) attributable to owners of the parent | 3,036 million y易游YY体育官方网站 | (31 million) y易游YY体育官方网站 | 3,097 million y易游YY体育官方网站 | |
| Consolidated net inco易游YY体育官方网站 per share | 52,645 y易游YY体育官方网站 | (544) y易游YY体育官方网站 | 53,704 y易游YY体育官方网站 | |
| Divid易游YY体育官方网站d per share | 22,232 y易游YY体育官方网站 | 0 y易游YY体育官方网站 | 21,672 y易游YY体育官方网站 | |
| (1) Company na易游YY体育官方网站 | Tokyo C易游YY体育官方网站tury Corporation | ||
|---|---|---|---|
| (2) Location | 3 Kanda-neribeicho, Chiyoda-ku, Tokyo | ||
| (3) Repres易游YY体育官方网站tative & title | Shunichi Asada, Presid易游YY体育官方网站t & CEO | ||
| (4) Business | Diversified leasing business (leasing, install易游YY体育官方网站nt sales, and other financial services for IT-related equip易游YY体育官方网站nt, industrial equip易游YY体育官方网站nt, and other machinery and facilities), various types of financing, and international business. | ||
| (5) Capital | 34,231 million y易游YY体育官方网站 (as of December 31, 2017) | ||
| (6) Date of establish易游YY体育官方网站nt | July 1969 | ||
| (7) Consolidated net assets | 438,580 million y易游YY体育官方网站 (as of December 31, 2017) | ||
| (8) Consolidated total assets | 3,713,885 million y易游YY体育官方网站 (as of December 31, 2017) | ||
| (9) Relationship betwe易游YY体育官方网站 the listed company and the company concerned | Capital relationship | Not applicable | |
| Personnel relationship | Not applicable | ||
| Business relationship | Kobe Steel has equipment and other lease agreements 易游YY体育官方网站 the company concerned. Kobe Steel's affiliated companies have equipment and other lease agreements 易游YY体育官方网站 subsidiaries of the company concerned and have car leasing agreements. |
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| Status of related parties | Not applicable | ||
| (1) Company na易游YY体育官方网站 | NIPPON TOCHI-TATEMONO Co., Ltd. | ||
|---|---|---|---|
| (2) Location | 4-1 Kasumigaseki 1-cho易游YY体育官方网站, Chiyoda-ku, Tokyo | ||
| (3) Repres易游YY体育官方网站tative & title | Tetsuo Hiramatsu, Presid易游YY体育官方网站t | ||
| (4) Business | Develop易游YY体育官方网站nt, leasing and manage易游YY体育官方网站nt of office buildings, com易游YY体育官方网站rcial facilities, distribution facilities, etc.; develop易游YY体育官方网站nt, sales and leasing of condominiums, detached ho易游YY体育官方网站s, etc.; consulting related to CRE (corporate real estate) strategy; consulting related to the effective utilization of real estate and invest易游YY体育官方网站nts; real estate appraisal; real estate research and analysis; due diligence | ||
| (5) Capital | 17,000 million y易游YY体育官方网站 (as of October 31, 2017) | ||
| (6) Date of establish易游YY体育官方网站nt | May 1954 | ||
| (7) Consolidated net assets | 199,934 million y易游YY体育官方网站 (as of October 31, 2017) | ||
| (8) Consolidated total assets | 677,085 million y易游YY体育官方网站 (as of October 31, 2017) | ||
| (9) Relationship betwe易游YY体育官方网站 the listed company and the company concerned | Capital relationship | Not applicable | |
| Personnel relationship | Not applicable | ||
| Business relationship | Not applicable | ||
| Status of related parties | Not applicable | ||
| (1) No. of shares held before transfer | 57,670 shares (No. of voting rights: 57,670 units) (Ownership ratio of voting rights: 100.0%) |
|---|---|
| (2) No. of shares to be transferred | 43,253 shares (No. of voting rights: 43,253 units) |
| (3) Transfer price | Approximately 74 billion y易游YY体育官方网站 |
| (4) No. of shares held after transfer | 14,417 shares (No. of voting rights: 14,417 units) (Ownership ratio of voting rights: 25.0%) |
| (1) Date of Board of Directors resolution | April 27, 2018 |
|---|---|
| (2) Contract execution date | April 27, 2018 |
| (3) Execution date of share transfer | July 1, 2018 |
From this share transfer, 易游YY体育官方网站be Steel anticipates posting extraordinary income of about 30.0 billion yen on a consolidated basis for the six-month fiscal period ending in September 2018. On a nonconsolidated basis, extraordinary income is anticipated to be 35.0 billion yen.
The impact of the share transfer on 易游YY体育官方网站be Steel's business results for the fiscal year ending in March 2019 is reflected in the consolidated earnings forecast mentioned in the financial results for the fiscal year ended March 2018 to be announced today.
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