News Release
On the Partial Transfer of Subsidiary Shares
March 16, 2012
Nippon Light Metal Co., Ltd.
On the Partial Transfer of Subsidiary Shares
Nippon Light Metal Co., Ltd., announced today that the Company has agreed with Mitsubishi Corporation (hereinafter referred to as Mitsubishi) to have Mitsubishi participate in the management of the Company's wholly owned subsidiary Nippon Electrode Co. Ltd., (hereinafter referred to as Nippon Electrode) and that 40% of Nippon Electrode's shares have been transferred to Mitsubishi on March 15, 2012.
Note
| 1. Purpose | ||||||
| Nippon Light Metal, Nippon Electrode, and Mitsubishi have reached this agreement upon concluding that having Mitsubishi, a company with strong networking capability and excellent know-how in the carbon business, participate in the management of Nippon Electrode will enable the latter to expand and develop its business of cathode blocks and blocks for blast furnaces, as well as to accelerate its new business development and expansion in overseas markets including emerging economies, which in turn will contribute to the improvement of its corporate value. | ||||||
| 2. Outline of Nippon Electrode | ||||||
| (1)Trade Name | Nippon Electrode Co. Ltd. | |||||
| (2)Location | 5600 Kambara, Shimizu-ku Shizuoka-shi Shizuoka | |||||
| (3)Name and Title of Representative | Representative Director and President, Setsuo Tojo | |||||
| (4)Business | Cathode carbon for aluminum electrolytic furnace, carbon refractory material (bocks and bricks) for blast furnaces and electric furnaces, Soderberg paste, stamp paste, recarburizer, carbon specialties, other various carbon products | |||||
| (5)Paid-in-Capital | 1,200 million yen | |||||
| (6)Established | May 1945 | |||||
| (7)Number of Employees | 209 (as of January 1, 2012) | |||||
| 3. Investment ratio in Nippon Electrode after share transfer | ||||||
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For inquiries regarding this press release, please contact:
Nippon Light Metal Co., Ltd., Public Relations IR & Public Relations +81-3-5461-9333