Announcement on Merger of Consolidated Subsidiaries
Tokyo Electron Ltd. today announced its decision to merge its two South Korean consolidated subsidiaries, Tokyo Electron Korea Ltd. and Tokyo Electron Korea Solution Ltd. The details of the merger are as follows.
1. Objective of Merger
The two South Korean subsidiaries are to be merged to increase operational efficiency.
2. Outline of Merger (1)Merger schedule (tentative)
February 8, 2012 | Board of Directors meetings of each of the companies involved in the merger to approve merger agreement |
February 24, 2012 | Shareholders Meetings of each of the companies involved in the merger to approve merger |
April 1, 2012 | Date of merger (Scheduled registration date: April 2) |
(2)Merger method
The merger will take the form of a merger by absorption, with Tokyo Electron Korea Solution Ltd. as the surviving entity and Tokyo Electron Korea Ltd. as the absorbed entity. Following the merger, Tokyo Electron Korea Solution Ltd. will change its trading name to Tokyo Electron Korea Ltd.
(3)Allotment of shares in connection with merger
As compensation to shareholders for the merger, one additional share of the stock of Tokyo Electron Korea Solution Ltd. will be allotted for each share of the stock of Tokyo Electron Korea Ltd.
3. Outline of Each of Companies to be Merged
(1)Company Name | Tokyo Electron Korea Ltd. | Tokyo Electron Korea Solution Ltd. |
(2)Address of Head Office | 10-3, Jeongja-dong, Bundang-gu, Seongnam-City, Gyeonggi-Do, South Korea | 759-6 Gumui-Ri, Jangan-Myeon, Hwaseong City, Gyeonggi-Do, South Korea |
(3)Business operations | ・Manufacture, purchasing, and sale of semiconductor production equipment, liquid crystal production equipment, and related parts, raw materials, and accessories ・Technological guidance required for installation, operation, and maintenance of semiconductor production equipment and liquid crystal production equipment, and related on-site engineering work ・Import, sale, and trading of service parts for above items ・ Operation of research and development facilities ・Operation of lifelong learning facilities ・Comprehensive operations relating to the above |
・Manufacture, purchasing, and sale of semiconductor production equipment, liquid crystal production equipment, and related parts, raw materials, and accessories ・Technological guidance required for installation, operation, and maintenance of semiconductor production equipment and liquid crystal production equipment, and related on-site engineering work ・Import, sale, and trading of service parts for above items ・Comprehensive operations relating to the above |
(4) Capital Stock | 3,000 million Won | 3,000 million Won |
(5) Issued Stock | 600,000 shares | 600,000 shares |
(6) Share holder | Tokyo Electron Ltd. 100% | Tokyo Electron Ltd. 100% |
(7) Representative Director | W. H. Lee, President & Representative Director Yoshiaki Horii, Vice President & Representative Director |
Hirofumi Murakami, President & Representative Director |
(8) Established | September 9, 1993 | February 14, 2006 |
(9) Accounting period | March 31 | March 31 |
(10) Total Assets (as of March 31, 2011) |
174,679 million Won | 25,533 million Won |
(11) Headcounts (as of September 30, 2011) |
462 people | 84 people |
4.Outline of Company after Merged
(1)Company Name | Tokyo Electron Korea Ltd. |
(2)Address of Head Office | 759-6 Gumui-Ri, Jangan-Myeon, Hwaseong City, Gyeonggi-Do, South Korea |
(3) Business operations | ・Manufacture, purchasing, and sale of semiconductor production equipment, liquid crystal production equipment, and related parts, raw materials, and accessories ・Technological guidance required for installation, operation, and maintenance of semiconductor production equipment and liquid crystal production equipment, and related on-site engineering work ・Import, sale, and trading of service parts for above items ・Operation of research and development facilities ・Operation of lifelong learning facilities ・Comprehensive operations relating to the above |
(4) Capital Stock | 6,000 million Won |
(5) Issued Stock | 1,200,000 shares |
(6) Share holder | Tokyo Electron Ltd. 100% |
(7) Representative Director | W. H. Lee, President & Representative Director Yoshiaki Horii, Vice President & Representative Director Hirofumi Murakami, Vice President& Representative Director |
(8) Accounting period | March 31 |
5. Future Outlook
As the merger is to be one of consolidated subsidiaries, the effect on the consolidated business results of Tokyo Electron Ltd. will be negligible.