IR News
【PARK24 Co., Ltd. 】Notice of the Conclusion of a Stock Trading Agreement Making Rescue Network Co., Ltd. a Subsidiary
PARK24 Co., Ltd. announces that it has concluded a sales contract today on the acquisition of shares in NMC Fund 7 Corporation, the holding company of Rescue Network Co., Ltd., to make Rescue Network a subsidiary under a resolution adopted at a meeting of the Board of Directors held today.
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1. Reasons for acquiring shares |
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The Group will acquire all shares in NMC Fund 7 Corporation, which holds 100% of the stock of Rescue Network Co., Ltd., which operates a road service business and a contact center business using a network of approximately 8,500 towing operators and maintenance facilities throughout Japan, to make Rescue Network a subsidiary of the Group. Under the corporate slogan of 'People, Cars, Communities, and (Times),' PARK24 advanced into the rental car business in March 2009 by acquiring shares in Mazda Car Rental Corporation. It then began providing car sharing services based on synergy between the parking business and the rental car business to create a comfortable motorized society. PARK24 will bolster the operations and back-end of its rental car and car sharing services by acquiring the shares and making Rescue Network its subsidiary. It will also maximize its corporate value by continuing to pursue synergy with the Group to provide a range of services, including a road service, automobile inspection, and car maintenance, to more than three million members of the point program 'Times Club' and to its customers. |
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2. Profile of new subsidiary (Rescue Network Co., Ltd.) |
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(1) |
Company Name |
Rescue Network Co., Ltd. |
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(2) |
Representative |
Shigeo Takei, President |
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(3) |
Head Office |
6-26-5 Kameido, Koto-ku, Tokyo |
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(4) |
Establishment |
January 16, 2007 |
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(5) |
Business Outline |
Outsourced road service business and outsourced contact center services |
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(6) |
Settlement Month |
March |
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(7) |
Number of Employees |
141 |
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(8) |
Capital |
100 million yen |
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(9) |
Shares Issued and Outstanding |
600 shares |
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(10) |
Latest Results |
Net sales: 1,920 million yen |
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The following is a profile of the company (NMF Fund 7) from which the Company is acquiring shares: |
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(1) |
Company Name |
NMF Fund 7 Corporation |
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(2) |
Representative |
Akira Yasujima, Representative Director |
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(3) |
Head Office |
1-3-3 Uchisaiwaicho, Chiyoda-ku, Tokyo |
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(4) |
Establishment |
August 31, 1994 |
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(5) |
Business Outline |
Management of Rescue Network Co., Ltd. |
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(6) |
Settlement Month |
March |
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(7) |
Number of Employees |
No employees except officers |
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(8) |
Capital |
100 million yen |
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(9) |
Shares Issued and Outstanding |
14,060 shares |
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3. Seller of shares |
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All shares (14,060shares) will be acquired from NMC2002L.P., (a fund to which Nippon Mirai Capital Co., Ltd. (1-3-3 Uchisaiwaicho, Chiyoda-ku, Tokyo) provides investment advice). |
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4. Number of shares to acquire and shareholding before and after acquisition |
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(1) |
Number of shares owned before acquisition |
0 shares (shareholding: 0%) |
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(2) |
Number of shares owned after acquisition |
14,060 shares (shareholding: 100.0%) |
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5. Schedule (planned) |
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March 8, 2011 (Tue.) |
Acquisition date of shares |
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6. Future outlook |
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The impact of the acquisition of shares in Rescue Network Co., Ltd. on the Company's consolidated financial results for the fiscal year ending October 2011 will be minor. |
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