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How definitive the wording is.This transaction
Change in equity-method affiliate status through share acquisition (conversion to consolidated subsidiary)Disclosing companyNITTAN Corporation
TimelineThe spacing between the points is proportional to the actual number of days.
Target company
Manufacture and sale of valve lifters, Manufacture and sale of valve lifters, Manufacture and sale of valve lifter molding materials
Location Gumi, Gyeongsangbuk-do, South Korea, Rizhao, Shandong Province, China, Gumi, Gyeongsangbuk-do, South KoreaShare capital KRW 19,650 million, RMB 43 million, KRW 5,000 millionDate of incorporation 19 April 1995, 12 December 2014, 16 December 2011
Net SalesKRW 61,169 million (fiscal year ended December 2025), RMB 95.519 million (fiscal year ended December 2025), KRW 12,288 million (fiscal year ended December 2025)
Operating profitKRW 3,854 million (fiscal year ended December 2025), RMB 9.858 million (fiscal year ended December 2025), KRW 924 million (fiscal year ended December 2025)
Net income for the current fiscal yearKRW 6,500 million (fiscal year ended December 2025), RMB 8.113 million (fiscal year ended December 2025), KRW 1,273 million (fiscal year ended December 2025)
Net assetsKRW 51,173 million (fiscal year ended December 2025), RMB 93.941 million (fiscal year ended December 2025), KRW 10,325 million (fiscal year ended December 2025)
Impact on Business Performance
The impact on the Company's consolidated results for the fiscal year ending March 2027 is under review.
Procedures and assumptions
Management structure after acquisition新和精密株式会社, RYS and STP will become the Company's consolidated subsidiaries from the first quarter of the fiscal year ending March 2027. Trade names, representatives and employee treatment: not disclosed
| Item | Details |
|---|---|
| Transaction name | Change in equity-method affiliate status through share acquisition (conversion to consolidated subsidiary) |
| Name of the Subject Company | 新和精密株式会社, 日照柳成新和汽車部件有限公司, STP株式会社 |
| Business Description of the Subject Company | Manufacture and sale of valve lifters, Manufacture and sale of valve lifters, Manufacture and sale of valve lifter molding materials |
| Location of the Subject Company | Gumi, Gyeongsangbuk-do, South Korea, Rizhao, Shandong Province, China, Gumi, Gyeongsangbuk-do, South Korea |
| Capital Stock of the Subject Company | KRW 19,650 million, RMB 43 million, KRW 5,000 million |
| Date of Establishment of the Subject Company | 19 April 1995, 12 December 2014, 16 December 2011 |
| Net Sales of the Subject Company | KRW 61,169 million (fiscal year ended December 2025), RMB 95.519 million (fiscal year ended December 2025), KRW 12,288 million (fiscal year ended December 2025) |
| Operating Profit of the Subject Company | KRW 3,854 million (fiscal year ended December 2025), RMB 9.858 million (fiscal year ended December 2025), KRW 924 million (fiscal year ended December 2025) |
| Net Income of the Subject Company | KRW 6,500 million (fiscal year ended December 2025), RMB 8.113 million (fiscal year ended December 2025), KRW 1,273 million (fiscal year ended December 2025) |
| Net Assets of the Subject Company | KRW 51,173 million (fiscal year ended December 2025), RMB 93.941 million (fiscal year ended December 2025), KRW 10,325 million (fiscal year ended December 2025) |
| Voting rights ownership percentage | Before 新和精密株式会社: 51.00% (before the change), 日照柳成新和汽車部件有限公司: not disclosed, STP株式会社: not disclosed → after 新和精密株式会社: 51.00% (after the change), 日照柳成新和汽車部件有限公司: 51.00%, STP株式会社: 26.01% |
| Impact on Business Performance | The impact on the Company's consolidated results for the fiscal year ending March 2027 is under review. |
| Date of board resolution | 27 February 2026 |
| Contract Date | 28 May 2026 |
| Execution Date / Effective Date | 15 June 2026 (completed) |
| Management structure after acquisition | 新和精密株式会社, RYS and STP will become the Company's consolidated subsidiaries from the first quarter of the fiscal year ending March 2027. Trade names, representatives and employee treatment: not disclosed |
Items this document does not state (16)
Counterparty nameAcquisition priceExpenses other than the acquisition priceType of ConsiderationMerger ratio/share exchange ratioTender offer priceMinimum number of shares to be purchasedTender offer periodNumber of shares acquiredFunding arrangementsGoodwill amountAmount of extraordinary income (loss)Valuation methodologyIndependent valuation institutionSpecial CommitteeConditions Precedent to Execution
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.The signing date of the agreement and the acquisition completion date were postponed from the original schedule because negotiations on the terms of the share transfer agreement took longer than expected.
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