February 28, 2006
FOR IMMEDIATE RELEASE
Mitsui O.S.K. Lines, Ltd.
Stock code: 9104
Listed on the First Section of the Tokyo Stock Exchange, the First Section of the Osaka
Securities Exchange, the First Section of the Nagoya Stock Exchange, the Sapporo Stock
Exchange and the Fukuoka Stock Exchange
Representative Director and President/Executive Officer: Akimitsu Ashida
TOKYO - Mitsui O.S.K. Lines, Ltd. (the Company; President: Akimitsu Ashida) today announced the end of the tender offering period for shares of Utoc Corporation (code #9358, hereinafter called the "Target Company"), effective on February 27, 2006. This execution started on February 6, 2006. Also, as a result of the tender offer, Utoc is slated to become a subsidiary of the Company effective on March 7, 2006. The results of the tender offer are as follows.
1. Outline of the Tender Offer (officially announced on February 3, 2006)
2. Results of the tender offer
Number of shares sought, etc. in the tender offer | 5,390,000 |
Number of shares sought in the tender offer | 5,390,000 |
Number of excess shares in the tender offer | 0 |
The total number of shares subscribed, etc | 6,700,551 |
The total number of shares purchased, etc | 5,390,551 |
Since the total number of shares subscribed(6,700,551 shares) exceeds the number of shares sought in the tender offer (5,390,000 shares), as described in the public notice of the tender offer and notification of the tender offer, the Company will not offer all of the exceeding shares, but transfer and conduct other settlements concerning to purchase of those shares by the proportional percentage method, regulated in the Securities and Exchange Law Article 27 Clause 13 No.5 and the Cabinet Law No.32 concerning disclosure of the tender offer of shares by the parties other than the issuer.
Total number of subscribing shareholders |
Total number of shares subscribed |
Total number of shares purchased |
Total number of shares to be returned |
29 | 6,700,551 | 5,390,551 | 1,310,000 |
3. Settlement method and starting date
4. Place where copies of the tender offer report are available for public inspection
As a result of the above tender offer, the Company acquired directly or indirectly approximately 51% of the total number of issued shares of the Target Company. Thus, the Target Company will become a subsidiary of the Company.
1. Outline of subsidiary
Mitsui O.S.K. Lines, Ltd. | 31.17 |
Mitsui & Co., Ltd. | 12.31 |
Japan Trustee Service Bank, Ltd. (Service trust for beneficiary of the retrust, Mitsui Asset Trust and Banking Co., Ltd. / CMTB Equity Investment Co., Ltd., trust account) |
4.85 |
Japan Master Trust Bank (trust account) | 3.01 |
Mitsui Sumitomo Insurance Co., Ltd. | 2.80 |
The Bank of Yokohama, Ltd. | 2.65 |
Mitsui Life Insurance Company Limited | 2.42 |
Sumitomo Mitsui Banking Corporation | 2.31 |
BNP Pariba Securities Service (Proxy: Hong Kong and Shanghai Bank Tokyo Branch) |
1.81 |
Trust & Custody Services Bank, Ltd. (Securities investment trust account) |
1.79 |
Business performance and forecasts in recent fiscal years
Consolidated
(Unit: thousand yen)
FY2002 ending Mar. 2003 |
FY2003 ending Mar. 2004 |
FY2004 ending Mar. 2005 |
|
Revenue | 36,247,321 | 34,384,376 | 35,370,954 |
Ordinary income | 1,115,900 | 786,398 | 1,801,200 |
Net income | 769,536 | 151,297 | 1,952,184 |
Nonconsolidated
(Unit: thousand yen)
FY2002 ending Mar. 2003 |
FY2003 ending Mar. 2004 |
FY2004 ending Mar. 2005 |
|
Revenue | 30,151,216 | 26,780,318 | 27,395,613 |
Ordinary income | 709,032 | 256,965 | 1,106,662 |
Net income | 439,262 | 56,478 | 500,935 |
2. Scheduled transfer date of subsidiary
March 7, 2006 (Tuesday)
3. Effect on forecast
The Target Company is slated to become the Company's subsidiary as of March 7, 2006. In addition, there will not be a material effect on business performance for Financial Year 2005 ending Mar. 2006 of the Company as a result of executing this tender offer.