December 01, 2021
TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto; Headquarters: Minato-ku, Tokyo) resolved at its board of directors' meeting held on November 30 to acquire common stock of DAIBIRU CORPORATION (Daibiru; President & CEO: Toshiyuki Sonobe; Headquarters: Kita-ku, Osaka City) and Utoc Corporation (Utoc; President: Masahiro Tanabe; Headquarters: Naka-ku, Yokohama City,) through tender offers for the purpose of making both companies wholly-owned subsidiaries.
Note: For details regarding the above tender offers, please refer to our timely disclosure below.
URL:https://www.mol.co.jp/en/ir/data/pdf/news_211201_1e.pdf
URL:https://www.mol.co.jp/en/ir/data/pdf/news_211201_2e.pdf
By making Daibiru and Utoc wholly-owned subsidiaries, MOL aims to reinforce group management through more solid integration of management resources in the group. MOL will work on sustainable enhancement of its corporate value, concurrently with accelerating revenue growth in the entire group as well as strengthening the business of the subsidiaries.
< Aim of the Transactions >
[ Overview of Subsidiaries ]
<DAIBIRU CORPORATION>
<Utoc Corporation>
Note: MOL resolved to implement the tender offer for the common stock of Daibiru for the purpose of making Daibiru a wholly-owned subsidiary and the tender offer for the common stock of Utoc for the purpose of making Utoc a wholly-owned subsidiary. Notwithstanding that both tender offers are resolved at the board of directors' meeting held on November 30, MOL considered both transactions independently from each other and decided to implement the transactions as a result of separate discussion with Daibiru and Utoc. MOL intends to implement each tender offer as an independent transaction from the other.