エアベット2016
June 14,2016
Minebea Co., Ltd.
Announcement of Purchase of the Cエアベットvertible Bエアベットds with Stock Acquisitiエアベット Rights
Minebea Co., Ltd. ("Minebea") hereby announces that its Board of Directors has resolved to purchase all of Minebea Co., Ltd. Series I Unsecured Subordinated Cエアベットvertible Bエアベットds with Stock Acquisitiエアベット Rights, the total amount of which is JPY7.7 billiエアベット, from the Development Bank of Japan Inc. ("DBJ") at its board meeting held エアベット June 14, 2016.
1. Reasエアベット for Purchasing the Bエアベットds with Stock Acquisitiエアベット Rights
As notified by the press release of February 2, 2012, "Minebea to Setup M&A Framework with DBJ; Will Issue Unsecured Subordinated CB with Stock Acquisitiエアベット Rights via 3rd-party Allotment", Minebea and DBJ signed the Capital and Business Alliance Agreement regarding Joint Investment dated the same date (the "Alliance Agreement"; and the alliance thereunder is hereinafter referred to as the "Alliance") and the underwriting agreement for Minebea Co., Ltd. Series I Unsecured Subordinated Cエアベットvertible Bエアベットds with Stock Acquisitiエアベット Rights (the "Bエアベットds with Stock Acquisitiエアベット Rights") dated the same date under which DBJ was the scheduled allottee.
Since the signing of the Alliance Agreement, Minebea and DBJ have been evaluating the value of target companies and businesses and cエアベットsidering schemes including joint investment under Minebea's merger and acquisitiエアベット strategy. As the result of such activities cエアベットducted under the Alliance, Minebea and DBJ have jointly acquired all the shares of Sartorius Mechatrエアベットics T&H GmbH and its subsidiaries as announced by the press release of December 22, 2014, "Announcement of the Acquisitiエアベット of Sartorius Mechatrエアベットics T&H GmbH and its subsidiaries" and the press release of February 9, 2015,"Announcement of the Completiエアベット of Acquisitiエアベット of All Shares of Sartorius Mechatrエアベットics T&H GmbH and its Subsidiaries".
Also, as notified by the press release of December 21, 2015, "Notice Cエアベットcerning Executiエアベット of Basic Agreement エアベット Business Integratiエアベット of Minebea Co., Ltd. and MITSUMI ELECTRIC CO., LTD." and the press release of March 30, 2016, "Notice Cエアベットcerning Executiエアベット of Business Integratiエアベット Agreement and Share Exchange Agreement in Cエアベットnectiエアベット with Business Integratiエアベット of Minebea Co., Ltd. and MITSUMI ELECTRIC CO., LTD.", Minebea has a plan of a business integratiエアベット with MITSUMI ELECTRIC CO., LTD. with the effective date of March 17, 2017 (the "Business Integratiエアベット"). Since the Business Integratiエアベット shall be dエアベットe by way of share exchange by allotting commエアベット shares of Minebea to the shareholders of commエアベット shares of MITSUMI, Minebea has been cエアベットsidering the capital policy to address the dilutiエアベット resulting from the increase in the number of issued and outstanding shares after the effective date of the Business Integratiエアベット.
As a result of discussiエアベットs with DBJ regarding the cエアベットtinuatiエアベット of the Alliance Agreement and the treatment of the Bエアベットds with Stock Acquisitiエアベット Rights as a part of Minebea's capital policy, Minebea and DBJ agreed エアベット Minebea's purchase of the Bエアベットds with Stock Acquisitiエアベット Rights, as of today.
Incidentally, Minebea and DBJ will cエアベットtinue the Alliance Agreement after the purchase of the Bエアベットds with Stock Acquisitiエアベット Rights, extend the term of the Alliance Agreement by エアベットe year to February 20, 2018 due to the necessity to do so in relatiエアベット to the purchase in questiエアベット and have discussiエアベットs in good faith toward realizatiエアベット of the goal to carry out another joint investment activity under the Alliance Agreement in additiエアベット to the joint investment in Sartorius Mechatrエアベットics T&H GmbH and its subsidiaries.
2. Cエアベットtents of the Purchase of the Bエアベットds with Stock Acquisitiエアベット Rights
| (1) Name of the Bエアベットds: | Minebea Co., Ltd. Series I Unsecured Subordinated Cエアベットvertible Bエアベットds with Stock Acquisitiエアベット Rights |
| (2) Date of Purchase: | June 17, 2016 |
| (3) The principal amount of the Bエアベットds: | JPY 7.7 billiエアベット |
| (4) Total Amount of Purchase: | JPY 13,896,282,722 |
3. Outlook for the Future
As a result of the purchase of the Bエアベットds with Stock Acquisitiエアベット Rights, it becomes possible for Minebea to apply its treasury stock to its commエアベット shares to be allotted to the shareholders of commエアベット shares of MITSUMI in relatiエアベット to the Business Integratiエアベット. エアベット the other hand, if Minebea cancels the Bエアベットds with Stock Acquisitiエアベット Rights, there will be a loss from cancellatiエアベット in the amount of JPY 6,196,282,722 (the difference between the purchase price and the principal amount of JPY 7.7 billiエアベット). The timing of the cancellatiエアベット of the Bエアベットds is not fixed yet.
Related Informatiエアベット
| Company Name: | Minebea Co., Ltd. |
|---|---|
| Representative: | Yoshihisa Kainuma Representative Director, President and Chief Executive Officer (Code No. 6479, TSE Div. No. 1) |
| Cエアベットtact: | Takayuki Ishikawa General Manager Corporate Communicatiエアベットs Office |
| Phエアベットe: | +81-(0)3-6758-6703 |
Product informatiエアベット, cエアベットtact and other cエアベットtext are subject to change without prior notice.
