Japan Elevator Service : Notice of reorganization of consolidated subsidiaries (Merger between wholly-owned subsidiaries)
June 23, 2022 at 02:15 pm IST
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This document is an excerpt translation of the original Japanese document and is only for reference purposes.
In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.
June 23,2022
Company name: Japan Elevator Service Holdings Co., Ltd.
Representative: Katsushi Ishida, Representative Director CEO
(TSE Prime Market, Stock Code: 6544)
Contact: Kimihiko Imamura,
Director, Deputy President and Executive Officer, CFO
TEL: +81-3-6262-1625
Notice of reorganization of consolidated subsidiaries (Merger between wholly-owned subsidiaries)
Japan Elevator Service Holdings Co., Ltd. (the "Company'') hereby announces that it has decided today to execute an absorption-type merger of its wholly owned subsidiaries, Japan Elevator Service Jyosai Co., Ltd. ("JES Jyosai''), and Cosmo Japan Inc. ("Cosmo Japan''), JES Jyosai will be the surviving company (hereinafter referred to as "Merger").
1. Reason of Merger
As an independent maintenance company for elevators, the Company group will continue to strive to strengthen service quality and technical capabilities and improve customer satisfaction, while increasing the number of maintenance contracts with the aim of strengthening the customer base and improving productivity. In Tohoku area, we have developed new market and operated business and management with M&A group company.
Through the Merger, we will further strengthen operations, sales force, and improve technical and service quality to expand and stabilize our business. We aim to maintain and improve the competitive advantage of the group in the industry.
2. Outline of Merger
(1) Schedule
Resolution date of Board of Directors
June 23, 2022
Execution date of contract
June 23, 2022
Effective date of Merger
September 1, 2022 (Scheduled)
(2) Method of Merger
The merger is an absorption-type merger wherein JES Jyosai will be the surviving company and Cosmo Japan will be the absorbed company and dissolved
(3) Details of allotments relating to Merger
As both companies are wholly owned subsidiary of the Company, there will be no allotment of shares nor delivery of money and other properties.
Treatment of stock acquisition rights and bonds with stock acquisition rights relating to Merger As both companies have not issued any stock acquisition rights nor bonds with stock acquisition
rights, there will be nothing applicable.
3. Profile of companies concerned to Absorption-type Merger
Surviving Company
Absorbed Company
(1) Name
Japan
Elevator
Service Jyosai
Cosmo Japan Inc.
Co.,
Ltd.
(2) Description of Business
Maintenance, and repairment of
Maintenance, and
repairment
elevators and escalators
of elevators and escalators
(3) Date of Establishment
January 8, 2015
April 17, 1998
(4) Address
Shinjuku, Shinjuku-ku, Tokyo
3-6-12 Shirogane, Hachinohe,
Aomori
(5) Representative
Masahiro Yamashita
Shinobu Sekine
Representative Director
Representative Director
(6) Capital
10,000 Thousand Yen
15,000 Thousand Yen
(7) Outstanding Shares
200 shares
300 shares
Major Shareholders and
Japan
Elevator
Service Holdings
Japan
Elevator
Service
(8)
Holdings Co., Ltd. 100%
holding ratio
Co., Ltd. 100%
(9) End of Fiscal Year
March 31
March 31
4. Conditions after Absorption-type Merger
After Merger will be executed, there will be no change in address of registered head office, title and name of representative, capital and end of fiscal year.
5. Outlook
This transaction will not have a significant impact to the Company's guidance for consolidated financial results for this fiscal year. The Company will promptly disclose when any matters that should be announced occurs.
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Japan Elevator Service Holdings Co. Ltd. published this content on 23 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 June 2022 08:44:06 UTC.
JAPAN ELEVATOR SERVICE HOLDINGS CO.,LTD. is a Japan-based company mainly engaged in the provision of the maintenance and inspection service for elevators and escalators, as well as the renewal service for elevators. The Company operates three kind of businesses. The maintenance and inspection business is involved in the provision of maintenance, inspection, replace and repair services for the engine performance and the operation safety of elevators and escalators. The renewal business is involved in the provision of a full range of main componentsâ replacing service, the removal service of products already in the field, as well as the new setting service for elevators which are installed 20 years ago. The others business is involved in the sale of parts for elevatorâs maintenance.