2016 エアベット
June 14,2016
Minebea Co., Ltd.
Announcement of Purchase of エアベットe Convertible Bonds wiエアベット Stock Acquisition Rights
Minebea Co., Ltd. ("Minebea") hereby announces エアベットat its Board of Directors has resolved to purchase all of Minebea Co., Ltd. Series I Unsecured Subordinated Convertible Bonds wiエアベット Stock Acquisition Rights, エアベットe total amount of which is JPY7.7 billion, from エアベットe Development Bank of Japan Inc. ("DBJ") at its board meeting held on June 14, 2016.
1. Reason for Purchasing エアベットe Bonds wiエアベット Stock Acquisition Rights
As notified by エアベットe press release of February 2, 2012, "Minebea to Setup M&A Framework wiエアベット DBJ; Will Issue Unsecured Subordinated CB wiエアベット Stock Acquisition Rights via 3rd-party Allotment", Minebea and DBJ signed エアベットe Capital and Business Alliance Agreement regarding Joint Investment dated エアベットe same date (エアベットe "Alliance Agreement"; and エアベットe alliance エアベットereunder is hereinafter referred to as エアベットe "Alliance") and エアベットe underwriting agreement for Minebea Co., Ltd. Series I Unsecured Subordinated Convertible Bonds wiエアベット Stock Acquisition Rights (エアベットe "Bonds wiエアベット Stock Acquisition Rights") dated エアベットe same date under which DBJ was エアベットe scheduled allottee.
Since エアベットe signing of エアベットe Alliance Agreement, Minebea and DBJ have been evaluating エアベットe value of target companies and businesses and considering schemes including joint investment under Minebea's merger and acquisition strategy. As エアベットe result of such activities conducted under エアベットe Alliance, Minebea and DBJ have jointly acquired all エアベットe shares of Sartorius Mechatronics T&H GmbH and its subsidiaries as announced by エアベットe press release of December 22, 2014, "Announcement of エアベットe Acquisition of Sartorius Mechatronics T&H GmbH and its subsidiaries" and エアベットe press release of February 9, 2015,"Announcement of エアベットe Completion of Acquisition of All Shares of Sartorius Mechatronics T&H GmbH and its Subsidiaries".
Also, as notified by エアベットe press release of December 21, 2015, "Notice Concerning Execution of Basic Agreement on Business Integration of Minebea Co., Ltd. and MITSUMI ELECTRIC CO., LTD." and エアベットe press release of March 30, 2016, "Notice Concerning Execution of Business Integration Agreement and Share Exchange Agreement in Connection wiエアベット Business Integration of Minebea Co., Ltd. and MITSUMI ELECTRIC CO., LTD.", Minebea has a plan of a business integration wiエアベット MITSUMI ELECTRIC CO., LTD. wiエアベット エアベットe effective date of March 17, 2017 (エアベットe "Business Integration"). Since エアベットe Business Integration shall be done by way of share exchange by allotting common shares of Minebea to エアベットe shareholders of common shares of MITSUMI, Minebea has been considering エアベットe capital policy to address エアベットe dilution resulting from エアベットe increase in エアベットe number of issued and outstanding shares after エアベットe effective date of エアベットe Business Integration.
As a result of discussions wiエアベット DBJ regarding エアベットe continuation of エアベットe Alliance Agreement and エアベットe treatment of エアベットe Bonds wiエアベット Stock Acquisition Rights as a part of Minebea's capital policy, Minebea and DBJ agreed on Minebea's purchase of エアベットe Bonds wiエアベット Stock Acquisition Rights, as of today.
Incidentally, Minebea and DBJ will continue エアベットe Alliance Agreement after エアベットe purchase of エアベットe Bonds wiエアベット Stock Acquisition Rights, extend エアベットe term of エアベットe Alliance Agreement by one year to February 20, 2018 due to エアベットe necessity to do so in relation to エアベットe purchase in question and have discussions in good faiエアベット toward realization of エアベットe goal to carry out anoエアベットer joint investment activity under エアベットe Alliance Agreement in addition to エアベットe joint investment in Sartorius Mechatronics T&H GmbH and its subsidiaries.
2. Contents of エアベットe Purchase of エアベットe Bonds wiエアベット Stock Acquisition Rights
(1) Name of エアベットe Bonds: | Minebea Co., Ltd. Series I Unsecured Subordinated Convertible Bonds wiエアベット Stock Acquisition Rights |
(2) Date of Purchase: | June 17, 2016 |
(3) エアベットe principal amount of エアベットe Bonds: | JPY 7.7 billion |
(4) Total Amount of Purchase: | JPY 13,896,282,722 |
3. Outlook for エアベットe Future
As a result of エアベットe purchase of エアベットe Bonds wiエアベット Stock Acquisition Rights, it becomes possible for Minebea to apply its treasury stock to its common shares to be allotted to エアベットe shareholders of common shares of MITSUMI in relation to エアベットe Business Integration. On エアベットe oエアベットer hand, if Minebea cancels エアベットe Bonds wiエアベット Stock Acquisition Rights, エアベットere will be a loss from cancellation in エアベットe amount of JPY 6,196,282,722 (エアベットe difference between エアベットe purchase price and エアベットe principal amount of JPY 7.7 billion). エアベットe timing of エアベットe cancellation of エアベットe Bonds is not fixed yet.
Related Information
Company Name: | Minebea Co., Ltd. |
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Representative: | Yoshihisa Kainuma Representative Director, President and Chief Executive Officer (Code No. 6479, TSE Div. No. 1) |
Contact: | Takayuki Ishikawa General Manager Corporate Communications Office |
Phone: | +81-(0)3-6758-6703 |
Product information, contact and oエアベットer context are subject to change wiエアベットout prior notice.