|
|
 |
Yamaha to Purchase Shares of Fuji Sound Co., Ltd. |
|
|
Yamaha Corporation has announced that its Board of Directors, at their meeting held on February 21, 2007, made the decision to purchase all the issued shares with voting rights of Fuji Sound Co., Ltd. (Head Office: Chiyoda-ku, Tokyo; President: Masahiro Isobe; hereinafter, Fuji Sound), currently held by Aso Corporation (Head Office: Iizuka-shi, Fukuoka Prefecture; President: Yutaka Aso). A share purchase agreement for these shares has been signed with Aso Corporation, and the details of the purchase are as follows. |
|
 |
 |
|
|
| 1. Reasons for the Share Purchase |
|
Yamaha has a history of close to 40 years in the fields of professional audio equipment and architectural and acoustic design. Especially in the field of digital mixers, which have recently come into wider use, Yamaha was the pioneer in this area 20 years ago and today supplies its world-standard PM1D and PM5D digital mixer systems. In addition, Yamaha is working to strengthen its position in the professional audio business through creating even more advanced systems that integrate digital signal processors, power amplifiers, speakers, and other components.
For more than 60 years since its establishment in 1946, Fuji Sound has consistently focused on and held the position as the leading company in Japan in planning, development, manufacturing, installation, fine-tuning, and maintaining professional audio equipment and systems. Drawing on the audio design know-how it has accumulated over many years, Fuji Sound has a long record of accomplishments in delivering and installing a wide range of audio equipment, including especially digital mixers for theaters under its own HYFAX brand, in theaters, concert halls, convention auditoriums, sports stadiums, and gymnasiums throughout Japan.
Recently, Aso Corporation, which owns 100% of the shares in Fuji Sound, has indicated its willingness to sell its holdings. Since Yamaha is in the midst of working to grow and expand its position in the professional audio equipment market, Yamaha would like to integrate the assets of Fuji Sound––including its advanced technological capabilities, audio design know-how, and client base––into its own operations to strengthen its position in this field. Yamaha’s judgment is that this integration would have major positive benefits for building its competitive position in this field in Japan and, accordingly has concluded an agreement with Aso Corporation to purchase the shares that company holds in Fuji Sound. |
|
|
|
|
|
|
| 2. Outline of the Company to Be Transferred (Fuji Sound) |
| (a) |
Company name: Fuji Sound Co., Ltd. |
| (b) |
Representative: Masahiro Isobe |
| (c) |
Address: 7-22 Rokuban-cho, Chiyoda-ku, Tokyo 102-0085 |
| (d) |
Date of establishment: January 22, 1946 |
| (e) |
Scope of business:Design, development, manufacturing, installation, adjustment, and maintenance of professional audio equipment and facilities |
| (f) |
Accounting period: March 31 |
| (g) |
Number of employees: 79 (As of March 31, 2006, including one contract employee) |
| (h) |
Places of business: Head Office located at 7-22 Rokuban-cho, Chiyoda-ku, Tokyo; Sales and service offices in Osaka, Nagoya, Sendai, Fukuoka, and Sapporo; Manufacturing facility in Nerima Ward, Tokyo |
| (i) |
Paid-in capital: ¥49,600,000 |
| (j) |
Number of shares issued: 992,000 |
| (k) |
Share ownership: Wholly owned subsidiary of Aso Corporation |
| (l) |
Indicators of recent business performance
(Year ended March 2006)
| Sales |
¥2,187 million |
| Operating income |
¥16 million |
| Total assets |
¥1,710 million |
| Shareholders’ equity |
¥766 million |
(Figures of less than ¥1 million have been rounded off.) |
|
|
|
|
|
|
|
| 3. Company Selling the Shares |
|
| (a) |
Company name: Aso Corporation |
| (b) |
Representative: Yutaka Aso |
| (c) |
Address: 7-18 Yoshio-machi, Iizuka-shi, Fukuoka Prefecture 820-0018 |
| (d) |
Scope of business:
| (1) |
Medical-related operations |
| (2) |
Environment-related operations |
| (3) |
Construction consulting |
| (4) |
Real estate |
|
| (e) |
Relationship with the purchaser of the shares: None |
|
|
|
|
|
|
|
|
| 4. Number of Shares to Be Purchased and Ownership Percentages around the Time of the Purchase |
|
|
|
| (a) |
Ownership of purchaser at the time of the share transfer: 0% |
| (b) |
Number of shares to be purchased: 992,000 (Number of voting shares: 992,000) |
| (c) |
Ownership of purchaser following acquisition: 100% |
|
|
|
|
|
|
| 5. Planned Schedule |
|
|
|
| February 21, 2007: |
Decision to make the acquisition by the Board of Directors of Yamaha Corporation |
| February 21, 2007: |
Signing of share purchase agreement |
|
February 22, 2007: |
Transfer of shares (Scheduled) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
For further information, please contact
Yamaha Corporation
Public Relations Division,
Public & Investor Relations Group
TEL. +81-3-5488-6601
FAX. +81-3-5488-5060
|
|
|
|
|
|
|
