JNC Corporation (Chiyoda-ku, Tokyo; CEO & President: Keizo Yamada; hereafter "JNC") announces that it has resolved to purchase a portion of shares in JCAM AGRI. Co., Ltd. (hereafter "JCAM"), a consolidated subsidiary company of JNC, at the Board of Directors meeting held on March 26, 2021.
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- 1.Objective of the purchase JCAM and Mitsubishi Chemical Agri Co., Ltd. integrated their businesses on October 1, 2009. Since this integration, JCAM has developed, manufactured, and sold fertilizers with the aim of contributing to agricultural sectors and related sectors in and outside Japan through the fertilizer business it runs as a joint venture established by the JNC Group, Mitsubishi Chemical Corporation (hereafter "MCC"), and Asahi Kasei Corp.
We determined that the JCAM brand successfully penetrated the market and steadily earned revenue over these years owing to the synergy created through the business integration.
We decided to exercise more control over JCAM in order to increase revenue from the fertilizer business by purchasing a portion of shares in JCAM owned by MCC, one of our joint venture partners. In doing so, we continue to aim for greater revenue from the fertilizer business.
2.Details of the consolidated subsidiary company
|(1) Trade name||JCAM AGRI. Co., Ltd.|
|(2) Address||2-6-6 Kandasudacho, Chiyoda-ku, Tokyo|
|(3) Representative||Tetsuya Yoshikawa, President and Representative Director|
|(4) Business Description||Manufacture and sale of chemical fertilizers|
|(5) Amount of capital||JPY1.8 billion|
|(6) Established||October 1, 2009 (operating since July 1, 1969)|
|(7) Major shareholders and shareholding ratio||JNC Corporation 39.00%
Mitsubishi Chemical Corporation 35.00%
Asahi Kasei Corp. 22.75%
Kyushu Chemical Industry Co., Ltd. 3.25%
- 3.Status of owned shares after the share acquisition
|Shareholding ratio after the||JNC Corporation 64.00% Asahi Kasei Corp. 22.75% Mitsubishi Chemical Corporation 10.00% Kyushu Chemical Industry Co., Ltd. 3.25%|
|(1) Resolution by Board of Directors||March 26, 2021|
|(2) Execution of the share sale and purchase agreement||March 31, 2021|
|(3) Purchase of shares||July 1, 2021 (scheduled)|
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