Iwatani Corporation (Head Office: Osaka, Tokyo; President: Masao Nomura; Capital: 20 billion yen) acquired all issued stocks of NKK Co., Ltd. and made it into a subsidiary on September 30.
1. Purpose of stock acquisition
The current fiscal year is the first term of Plan 18 for the Iwatani Group, the medium-term corporate management plan from FY2016 to FY2018. Plan 18 has a basic policy consisting of the promotion of growth strategies and the enhancement of business fundamentals, regarding this fiscal year as the period for actively inputting management resources in growth sectors. Stock acquisition is part of this plan.
NKK Co., Ltd. is an aerosol manufacturer. They manufacture cans all through the process from can making to filling. The company manufactures CFC-free dust blowers using their original technology. The products of NKK Co., Ltd. are eco-friendly, using dimethyl ether (DME) and carbon dioxide, while many other dust blowers use alternative CFCs. The global warming potential value is 1/1,430, compared with HFC-134a, a commonly used alternative CFC.
NKK Co., Ltd. has already obtained about 60% of the market share in Japan by providing products as an OEM. They will also promote sales in the overseas market using the sales network of the Iwatani Corporation.
2. Company outline of NKK Co., Ltd.
(1) Company name: NKK Co., Ltd.
(2) Location of Head Office: 117 Sebato, Yasutomicho, Himeji, Hyogo
(3) Established: April 1, 1986
(4) Business: Manufacturing and distribution of cans for refrigerants, dust blowers, and others
(5) Closing date: March 31
(6) Capital: 40,000,000 yen
(7) Performance: 2,721,000,000 yen as sales in the term ending in March 2016