Announcement of Strategic Capital and Business Alliance among SG Holdings, SAGAWA EXPRESS and Hitachi Transport System and Announcement of others
As we announced in a press release(*) on March 30, 2016, Today, SG Holdings Co., Ltd. ("SG Holdings") hereby announces that SG Holdings has acquired from Hitachi Ltd. ("Hitachi") 29.0% of outstanding shares (excluding treasury shares) in Hitachi Transport System, Ltd. ("Hitachi Transport System") through over-the-counter trading.
Moreover, Hitachi Transport System has acquired from SG Holdings 20.0% of outstanding shares (excluding treasury shares) in SAGAWA EXPRESS Co., Ltd ("SAGAWA EXPRESS") (Each transfer of shares hereunder shall be called the "Transfer of Shares").
* A press release "Announcement of Strategic Capital and Business Alliance among SG Holdings, SAGAWA EXPRESS, and Hitachi Transport System on March 30, 2016.
As a result of this transfer of shares, SAGAWA EXPRESS has changed to an affiliated company accounted for by the equity-method of Hitachi Transport System. And also, Hitachi Transport System has changed to an affiliated company accounted for by the equity-method of SG Holdings and Hitachi.
Reference:Timeline of Transfer of Shares
|(i) Assignment of SAGAWA EXPRESS shares||May 20, 2016|
|(ii) Assignment of Hitachi Transport System shares||May 19, 2016|
* Sagawa Express received of a notice on April 21, 2016 to the effect that as a result of the corporate merger review by the Fair Trade Commission pursuant to the Act on Prohibition of Private Monopolization and Maintenance of Fair Trade, no cease-and-desist order be issued.