Worth reading
62In focus
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
7
Hundreds of millions of yenWording
Conditional
How definitive the wording is.This transaction
Transfer of equity interestCounterparty佛山市南海矽鋼鐡芯制造有限公司
Disclosing companyTAMURA CORPORATION
The voting-rights ratio is the share of the votes exercisable at a shareholders’ meeting that will be held after this transaction.
TimelineThe spacing between the points is proportional to the actual number of days.
Target company
Production and sale of automotive electronic components
Location Foshan, Guangdong Province, People's Republic of ChinaShare capital USD21,800,000.00Date of incorporation 28 March 2019
Net SalesRMB38 million (fiscal year ended December 2025)
Operating profitRMB15 million loss (fiscal year ended December 2025)
Net income for the current fiscal yearRMB19 million loss (fiscal year ended December 2025)
Net assetsRMB29 million (fiscal year ended December 2025)
Consideration and expenses
Acquisition priceNot disclosed pursuant to an agreement between the parties.
Amount of extraordinary income (loss)Gain on transfer of equity interest of approximately ¥700 million (extraordinary income), fiscal year ending March 2027
Impact on Business Performance
The company expects to record a gain on the transfer of equity interest of approximately ¥700 million as extraordinary income in the fiscal year ending March 2027. This gain has been incorporated into the full-year consolidated earnings forecast for the fiscal year ending March 2027.
Procedures and assumptions
Management structure after acquisition田村汽車 will no longer be a consolidated subsidiary (sub-subsidiary) of the company. Production of automotive boost reactors for HEVs will be consolidated in Japan, with the aim of expanding supply to Japan, the United States and the ASEAN region.
| Item | Details |
|---|---|
| Transaction name | Transfer of equity interest |
| Counterparty name | 佛山市南海矽鋼鐡芯制造有限公司 |
| Name of the Subject Company | 田村汽車電子（佛山）有限公司 |
| Business Description of the Subject Company | Production and sale of automotive electronic components |
| Location of the Subject Company | Foshan, Guangdong Province, People's Republic of China |
| Capital Stock of the Subject Company | USD21,800,000.00 |
| Date of Establishment of the Subject Company | 28 March 2019 |
| Net Sales of the Subject Company | RMB38 million (fiscal year ended December 2025) |
| Operating Profit of the Subject Company | RMB15 million loss (fiscal year ended December 2025) |
| Net Income of the Subject Company | RMB19 million loss (fiscal year ended December 2025) |
| Net Assets of the Subject Company | RMB29 million (fiscal year ended December 2025) |
| Acquisition price | Not disclosed pursuant to an agreement between the parties. |
| Voting rights ownership percentage | Before 100％ → after 0% |
| Amount of extraordinary income (loss) | Gain on transfer of equity interest of approximately ¥700 million (extraordinary income), fiscal year ending March 2027 |
| Impact on Business Performance | The company expects to record a gain on the transfer of equity interest of approximately ¥700 million as extraordinary income in the fiscal year ending March 2027. This gain has been incorporated into the full-year consolidated earnings forecast for the fiscal year ending March 2027. |
| Date of board resolution | 11 May 2026 |
| Contract Date | 20 May 2026 (scheduled) |
| Execution Date / Effective Date | End of June 2026 (scheduled) |
| Management structure after acquisition | 田村汽車 will no longer be a consolidated subsidiary (sub-subsidiary) of the company. Production of automotive boost reactors for HEVs will be consolidated in Japan, with the aim of expanding supply to Japan, the United States and the ASEAN region. |
Items this document does not state (13)
Expenses 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 amountValuation 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.To consolidate production of automotive boost reactors for HEVs in Japan, improve profitability, and expand supply to Japan, the United States and the ASEAN region.
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