September 30, 2016
Company: Sumitomo Metal Mining Co., Ltd. Representative: Yoshiaki Nakazato, President and Representative Director (Code No. 5713, First Section of the Tokyo Stock Exchange)
Contact: Hideki Motoki, Deputy General Manager, PR & IR Dept.
(TEL: +81-3-3436-7705)
Company: Hitachi Metals, Ltd. Representative: Hideaki Takahashi, President and CEO (Code No. 5486, First Section of the Tokyo Stock Exchange)
Contact: Tatsuya Minami, General Manager, Corporate Communications Dept.
(TEL: +81-3-6774-3077)
De-integration of Lead Frame and Copper Product BusinessesSumitomo Metal Mining Co., Ltd. (SMM, Headquarters: Minato-ku, Tokyo, President and Representative Director: Yoshiaki Nakazato) and Hitachi Metals, Ltd. (Hitachi Metals, Headquarters: Minato-ku, Tokyo, President and CEO: Hideaki Takahashi) have reached an agreement for the de-integration of the lead frame and copper product businesses.
Overview of Businesses
Lead Frame Business
Hitachi Metals will transfer its 49% interest in SH Materials Co., Ltd. (SH Materials) to SMM in full, and SH Materials will become a wholly owned subsidiary of SMM.
Copper Product Business
SMM will transfer its 50% interest in SH Copper Products Co., Ltd. (SH Copper) to Hitachi Metals in full, and SH Copper will become a wholly owned subsidiary of Hitachi Metals.
Schedule
Share transfer/acquisition: Early January 2017 (tentative)
Overview of Affected Companies
SH Materials
(1)
Corporate name
SH Materials Co., Ltd.
(2)
Headquarters
5-11-3 Shimbashi, Minato-ku, Tokyo
(3)
Representative
Naoka Inoue, President and Representative Director
(4)
Business scope
Manufacture and sale of lead frames and related products
(5)
Capital
¥1 billion (51% SMM, 49% Hitachi Metals)
(6)
Establishment
January 7, 2013
(7)
Launch of operations
July 1, 2013
SH Copper
(1)
Corporate name
SH Copper Products Co., Ltd.
(2)
Headquarters
3550 Kidamari, Tsuchiura, Ibaraki
(3)
Representative
Fumio Kanaya, President and Representative Director
(4)
Business scope
Manufacture and sale of copper products (copper strips, copper products for electric applications, and processed copper products)
(5)
Capital
¥1 billion (50% Hitachi Metals, 50% SMM)
(6)
Establishment
January 4, 2013
(7)
Launch of operations
July 1, 2013
Impact on Business Results
The impact of this matter on consolidated results for the fiscal year ending March 2017 will be minor for both SMM and Hitachi Metals.
Address inquiries concerning this Press Release to:
Sumitomo Metal Mining Co., Ltd.
Public Relations & Investor Relations Department TEL: +81-3-3436-7705
Hitachi Metals, Ltd.
Corporate Communications Department
hmcc.sa@hitachi-metals.com
Sumitomo Metal Mining Co. Ltd. published this content on 30 September 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 30 September 2016 07:23:03 UTC.
Original documenthttp://www.smm.co.jp/E/uploaded_files/20160930-1e.pdf
Public permalinkhttp://www.publicnow.com/view/28C72E36F3B00452D91C693761C4FB44C2DD0C83