Announcement regarding the Share Acquisition of Yamagiwa Corporation
MARUWA CO LTD ("Maruwa" or the "Company") resolved, at a meeting of the board of directors held on November 1, 2012 today, to acquire 100% outstanding shares of Yamagiwa Corporation ("Yamagiwa"), and the Company has entered into a share purchase agreement with the seller, Enterprise Turnaround Initiative Corporation of Japan ("ETIC" or the "Seller"), as set forth below:
Since its founding, Maruwa has consistently positioned itself as a company centered on ceramics technology and is currently a leading growth company with No 1 global shares for numerous products in the environment, communications and power module sectors. As seen in its recently entered lighting fixtures business, the Company not only pursues cost efficiencies, but also promotes higher added-value based on its differentiation strategy applying its proprietary ceramic technology to its LED lighting products. Such strategies are in line with one of its corporate philosophies of "becoming a unique and 'quality-first' manufacturer" as it aims to future develop its lighting fixture business and become a global leader in this field.
Yamagiwa is well known for pioneering and establishing the lighting products culture in Japan, and is widely recognized as a highly value-added lighting manufacturer brand. It also has dedicated teams that specialize in designing lightings as well as planning, manufacturing and managing custom lightings and fixtures. With its many years of experience, brand strength and lighting solutions, Yamagiwa has established a strong customer base and is highly acclaimed by leading design firms and designers throughout the industry. It is currently the leading company engaged in designing, developing and manufacturing high-end lighting fixtures, interior lighting planning and importing and sales of lightings and fixtures.
By welcoming Yamagiwa as one of the core companies of the Group and utilizing its strong brand recognition and lighting solutions, the Company aims to further expand its business base in the booming LED lighting market and enhance global business growth.