Worth reading
52Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
6.6
USD millions (approximately ¥1.05 billion)Wording
Avoiding a definitive answer
How definitive the wording is.This transaction
Share TransfersCounterpartyJINSHENG MEXICO INDUSTRIAL, S. DE R.L. DE C.V.
Disclosing companyMitsubishi Steel Mfg.Co.,Ltd.
The voting-rights ratio is the share of the votes exercisable at a shareholders’ meeting that will be held after this transaction.
Date of board resolution30 March 2026
Execution Date / Effective DateUndecided (after completion of the procedures relating to the transfer)
Target company
Manufacture and sale of automotive coil springs and stabilizers
Location Aguascalientes, MexicoShare capital MXN 525,178 thousandDate of incorporation 2016
Net SalesFiscal year ended December 2024: USD 6,725 thousand
Net income for the current fiscal yearFiscal year ended December 2024: loss of USD 1,545 thousand
Net assetsFiscal year ended December 2024: USD 3,890 thousand
Consideration and expenses
Acquisition priceUSD 6.6 million (approximately ¥1.05 billion, converted at ¥159.99 per USD; transfer price)
Amount of extraordinary income (loss)Amount and recognition timing: not disclosed. The Company expects to recognize a tax benefit related to tax loss carryforwards from prior years.
Impact on Business Performance
The impact on results for the fiscal year ending March 2026 is expected to be limited. Following completion of the share transfer, MSSC Mexico will be removed from the scope of the Company's consolidation, and the impact of losses at the company on the consolidated results is expected to be eliminated. The Company expects to recognize a tax benefit related to tax loss carryforwards from prior years.
Procedures and assumptions
Conditions Precedent to ExecutionCompletion of the relevant procedures (after completion of the procedures relating to the transfer)
Management structure after acquisitionFollowing the share transfer, the Company will continue its transactions after securing sales rights for customers and will work to maintain its business relationships with them. Following completion of the share transfer, MSSC Mexico will be removed from the scope of the Company's consolidation. The trade name, representative, and treatment of employees: not disclosed
| Item | Details |
|---|---|
| Transaction name | Share Transfers |
| Counterparty name | JINSHENG MEXICO INDUSTRIAL, S. DE R.L. DE C.V. |
| Name of the Subject Company | MSSC MFG MEXICANA, S.A. DE C.V. |
| Business Description of the Subject Company | Manufacture and sale of automotive coil springs and stabilizers |
| Location of the Subject Company | Aguascalientes, Mexico |
| Capital Stock of the Subject Company | MXN 525,178 thousand |
| Date of Establishment of the Subject Company | 2016 |
| Net Sales of the Subject Company | Fiscal year ended December 2024: USD 6,725 thousand |
| Net Income of the Subject Company | Fiscal year ended December 2024: loss of USD 1,545 thousand |
| Net Assets of the Subject Company | Fiscal year ended December 2024: USD 3,890 thousand |
| Acquisition price | USD 6.6 million (approximately ¥1.05 billion, converted at ¥159.99 per USD; transfer price) |
| Number of shares acquired | 5,251,789 shares (number of shares transferred); number of voting rights: not disclosed |
| Voting rights ownership percentage | Before 100％ → after 0％ |
| Amount of extraordinary income (loss) | Amount and recognition timing: not disclosed. The Company expects to recognize a tax benefit related to tax loss carryforwards from prior years. |
| Impact on Business Performance | The impact on results for the fiscal year ending March 2026 is expected to be limited. Following completion of the share transfer, MSSC Mexico will be removed from the scope of the Company's consolidation, and the impact of losses at the company on the consolidated results is expected to be eliminated. The Company expects to recognize a tax benefit related to tax loss carryforwards from prior years. |
| Date of board resolution | 30 March 2026 |
| Execution Date / Effective Date | Undecided (after completion of the procedures relating to the transfer) |
| Conditions Precedent to Execution | Completion of the relevant procedures (after completion of the procedures relating to the transfer) |
| Management structure after acquisition | Following the share transfer, the Company will continue its transactions after securing sales rights for customers and will work to maintain its business relationships with them. Following completion of the share transfer, MSSC Mexico will be removed from the scope of the Company's consolidation. The trade name, representative, and treatment of employees: not disclosed |
Items this document does not state (13)
Operating Profit of the Subject CompanyExpenses other than the acquisition priceType of ConsiderationMerger ratio/share exchange ratioTender offer priceMinimum number of shares to be purchasedTender offer periodFunding arrangementsGoodwill amountContract DateValuation methodologyIndependent valuation institutionSpecial Committee
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.MSSC Mexico's performance has been difficult due to changes in market conditions and customer trends in recent years. The Company will consolidate its North American production structure at 2 sites in Canada and the United States to enhance the competitiveness and capital efficiency of its automotive spring business. It will redirect the management resources invested in Mexico to the 2 sites to strengthen competitiveness and profitability.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.