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M&A and Subsidiary Changes9850GOURMET KINEYA CO.,LTD.Retail

Notice Concerning the Establishment of a Joint Venture (Affiliate) and the Acquisition of Shares by the Joint Venture (Making the Companies Affiliates, etc.)

The Company will establish a joint venture in which it will become an affiliate and, through the joint venture, acquire shares in multiple companies, including in-flight catering-related companies in New Zealand, Canada, Hong Kong, South Korea, Thailand, Guam and Saipan.

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This transaction

Establishment of a Joint Venture (Affiliate) and Acquisition of Shares by the Joint Venture (Making the Companies Affiliates, etc.)
CounterpartyAirline Catering & Retail Invest Asia Pacific Limited, Cathay Pacific Airways Limited, LSG Catering Hong Kong Ltd., Hong Kong International Air Catering Limited, Hong Kong Dragon Airlines Limited, Fly Top Limited, LSG Management Service (Asia Pacific) Limited, Asiana Airlines Inc., OHTL Public Company Limited, Siam Flight Services Limited, LSG Catering Guam, Inc., LSG Catering Investment Asia Limited, LSG Catering (Thailand) Limited
Disclosing companyGOURMET KINEYA CO.,LTD.
LSG Sky Chefs New Zealand Limited, CLS Catering Service Limited, LSG Holding Asia Limited, LSG Sky Chefs Hong Kong Limited, LSG Catering China Limited, LSG Sky Chefs Korea Co., Ltd., LSG Catering (Thailand) Limited, Siam Flight Services Limited, LSG Sky Chefs (Thailand) Ltd., LSG Catering Guam, Inc., LSG Service Guam, Inc., LSG Catering Saipan, Inc.Subject of this transactionNumber of shares acquired LSG Sky Chefs New Zealand Limited: 41,676,000 shares, 100%, CLS Catering Service Limited: 231,056 shares, 70%, LSG Holding Asia Limited: 100,000 shares, 86.9%, LSG Sky Chefs Hong Kong Limited: 240 shares, 47.9%, LSG Catering China Limited: 100% (number of shares not disclosed), LSG Sky Chefs Korea Co., Ltd.: 1,040,000 shares, 80%, LSG Catering (Thailand) Limited: 998 shares, 99.8%, Siam Flight Services Limited: 3,000 shares, 49%, LSG Sky Chefs (Thailand) Ltd.: 299,999,999 shares, 100%, LSG Catering Guam, Inc.: 1,000 shares, 100%, LSG Service Guam, Inc.: 30,100 shares, 100%, LSG Catering Saipan, Inc.: 900 shares, 100%Voting rights ownership percentage After LSG Sky Chefs New Zealand Limited 100% / CLS Catering Service Limited 70% / LSG Holding Asia Limited 86.9% / LSG Sky Chefs Hong Kong Limited 47.9% / LSG Catering China Limited 100% / LSG Sky Chefs Korea Co., Ltd. 80% / LSG Catering (Thailand) Limited 99.8% / Siam Flight Services Limited 49% / LSG Sky Chefs (Thailand) Ltd. 100% / LSG Catering Guam, Inc. 100% / LSG Service Guam, Inc. 100% / LSG Catering Saipan, Inc. 100% (before not disclosed)
Target company
Location New Zealand, Canada, Hong Kong, Hong Kong, Hong Kong, Republic of Korea, Thailand, Thailand, Thailand, Guam, Guam, Saipan, MPShare capital NZD 41,676,000, CAD 23,024, HKD 194,526,160.31, HKD 501, HKD 41,858,200, KRW 6,500,000,000, THB 100,000, THB 3,000,000, THB 300,000,000, USD 1,000, USD 3,010,000, USD 900Date of incorporation 2005 11 17, 1980 12, 1989 17, 1977 12, 1988 15, 2003 28, 1985 23, 1968 19, 2004 26, 1985 29, 1973 12 17, 1985 29
Net Sales185,990 NZD (fiscal year ended December 2024), 108,415,276 CAD (fiscal year ended December 2024), 438,533,916 HKD (fiscal year ended December 2024), 438,533,916 HKD (fiscal year ended December 2024), 0 HKD (fiscal year ended December 2024), 62,590,848 KRW (fiscal year ended December 2024), 191 THB (fiscal year ended December 2024), 237 THB (fiscal year ended December 2024), 680,878,140 THB (fiscal year ended December 2024), 20,812,897 USD (fiscal year ended December 2024), Not disclosed, 5,023,519 USD (fiscal year ended December 2024)
Operating profit2,740 NZD (fiscal year ended December 2024), 7,318,492 CAD (fiscal year ended December 2024), 31,865,818 HKD (fiscal year ended December 2024), 31,918,299 HKD (fiscal year ended December 2024), 18,208 HKD (fiscal year ended December 2024), 3,480,324 KRW (fiscal year ended December 2024), 256,457 THB (fiscal year ended December 2024), 255,585 THB (fiscal year ended December 2024), 47,048,982 THB (fiscal year ended December 2024), 2,995,599 USD (fiscal year ended December 2024), Not disclosed, 479,892 USD (fiscal year ended December 2024)
Net income for the current fiscal year(2,634) NZD (fiscal year ended December 2024), 5,634,665 CAD (fiscal year ended December 2024), 25,899,879 HKD (fiscal year ended December 2024), 25,952,360 HKD (fiscal year ended December 2024), 18,208 HKD (fiscal year ended December 2024), 8,405,726 KRW (fiscal year ended December 2024), 256,457 THB (fiscal year ended December 2024), 255,585 THB (fiscal year ended December 2024), 47,048,982 THB (fiscal year ended December 2024), 2,366,599 USD (fiscal year ended December 2024), Not disclosed, 479,892 USD (fiscal year ended December 2024)
Net assets37,243 NZD (fiscal year ended December 2024), 22,839,546 CAD (fiscal year ended December 2024), 39,452,006 HKD (fiscal year ended December 2024), 38,294,748 HKD (fiscal year ended December 2024), 61,658 HKD (fiscal year ended December 2024), 46,705,726 KRW (fiscal year ended December 2024), 107,658,051 THB (fiscal year ended December 2024), 209,758,573 THB (fiscal year ended December 2024), 36,224,253 THB (fiscal year ended December 2024), 8,022,442 USD (fiscal year ended December 2024), Not disclosed, 2,132,241 USD (fiscal year ended December 2024)
This transaction
ItemDetails
Transaction nameEstablishment of a Joint Venture (Affiliate) and Acquisition of Shares by the Joint Venture (Making the Companies Affiliates, etc.)
Counterparty nameAirline Catering & Retail Invest Asia Pacific Limited, Cathay Pacific Airways Limited, LSG Catering Hong Kong Ltd., Hong Kong International Air Catering Limited, Hong Kong Dragon Airlines Limited, Fly Top Limited, LSG Management Service (Asia Pacific) Limited, Asiana Airlines Inc., OHTL Public Company Limited, Siam Flight Services Limited, LSG Catering Guam, Inc., LSG Catering Investment Asia Limited, LSG Catering (Thailand) Limited
Name of the Subject CompanyLSG Sky Chefs New Zealand Limited, CLS Catering Service Limited, LSG Holding Asia Limited, LSG Sky Chefs Hong Kong Limited, LSG Catering China Limited, LSG Sky Chefs Korea Co., Ltd., LSG Catering (Thailand) Limited, Siam Flight Services Limited, LSG Sky Chefs (Thailand) Ltd., LSG Catering Guam, Inc., LSG Service Guam, Inc., LSG Catering Saipan, Inc.
Location of the Subject CompanyNew Zealand, Canada, Hong Kong, Hong Kong, Hong Kong, Republic of Korea, Thailand, Thailand, Thailand, Guam, Guam, Saipan, MP
Capital Stock of the Subject CompanyNZD 41,676,000, CAD 23,024, HKD 194,526,160.31, HKD 501, HKD 41,858,200, KRW 6,500,000,000, THB 100,000, THB 3,000,000, THB 300,000,000, USD 1,000, USD 3,010,000, USD 900
Date of Establishment of the Subject Company2005 11 17, 1980 12, 1989 17, 1977 12, 1988 15, 2003 28, 1985 23, 1968 19, 2004 26, 1985 29, 1973 12 17, 1985 29
Net Sales of the Subject Company185,990 NZD (fiscal year ended December 2024), 108,415,276 CAD (fiscal year ended December 2024), 438,533,916 HKD (fiscal year ended December 2024), 438,533,916 HKD (fiscal year ended December 2024), 0 HKD (fiscal year ended December 2024), 62,590,848 KRW (fiscal year ended December 2024), 191 THB (fiscal year ended December 2024), 237 THB (fiscal year ended December 2024), 680,878,140 THB (fiscal year ended December 2024), 20,812,897 USD (fiscal year ended December 2024), Not disclosed, 5,023,519 USD (fiscal year ended December 2024)
Operating Profit of the Subject Company2,740 NZD (fiscal year ended December 2024), 7,318,492 CAD (fiscal year ended December 2024), 31,865,818 HKD (fiscal year ended December 2024), 31,918,299 HKD (fiscal year ended December 2024), 18,208 HKD (fiscal year ended December 2024), 3,480,324 KRW (fiscal year ended December 2024), 256,457 THB (fiscal year ended December 2024), 255,585 THB (fiscal year ended December 2024), 47,048,982 THB (fiscal year ended December 2024), 2,995,599 USD (fiscal year ended December 2024), Not disclosed, 479,892 USD (fiscal year ended December 2024)
Net Income of the Subject Company(2,634) NZD (fiscal year ended December 2024), 5,634,665 CAD (fiscal year ended December 2024), 25,899,879 HKD (fiscal year ended December 2024), 25,952,360 HKD (fiscal year ended December 2024), 18,208 HKD (fiscal year ended December 2024), 8,405,726 KRW (fiscal year ended December 2024), 256,457 THB (fiscal year ended December 2024), 255,585 THB (fiscal year ended December 2024), 47,048,982 THB (fiscal year ended December 2024), 2,366,599 USD (fiscal year ended December 2024), Not disclosed, 479,892 USD (fiscal year ended December 2024)
Net Assets of the Subject Company37,243 NZD (fiscal year ended December 2024), 22,839,546 CAD (fiscal year ended December 2024), 39,452,006 HKD (fiscal year ended December 2024), 38,294,748 HKD (fiscal year ended December 2024), 61,658 HKD (fiscal year ended December 2024), 46,705,726 KRW (fiscal year ended December 2024), 107,658,051 THB (fiscal year ended December 2024), 209,758,573 THB (fiscal year ended December 2024), 36,224,253 THB (fiscal year ended December 2024), 8,022,442 USD (fiscal year ended December 2024), Not disclosed, 2,132,241 USD (fiscal year ended December 2024)
Number of shares acquiredLSG Sky Chefs New Zealand Limited: 41,676,000 shares, 100%, CLS Catering Service Limited: 231,056 shares, 70%, LSG Holding Asia Limited: 100,000 shares, 86.9%, LSG Sky Chefs Hong Kong Limited: 240 shares, 47.9%, LSG Catering China Limited: 100% (number of shares not disclosed), LSG Sky Chefs Korea Co., Ltd.: 1,040,000 shares, 80%, LSG Catering (Thailand) Limited: 998 shares, 99.8%, Siam Flight Services Limited: 3,000 shares, 49%, LSG Sky Chefs (Thailand) Ltd.: 299,999,999 shares, 100%, LSG Catering Guam, Inc.: 1,000 shares, 100%, LSG Service Guam, Inc.: 30,100 shares, 100%, LSG Catering Saipan, Inc.: 900 shares, 100%
Voting rights ownership percentageAfter LSG Sky Chefs New Zealand Limited 100% / CLS Catering Service Limited 70% / LSG Holding Asia Limited 86.9% / LSG Sky Chefs Hong Kong Limited 47.9% / LSG Catering China Limited 100% / LSG Sky Chefs Korea Co., Ltd. 80% / LSG Catering (Thailand) Limited 99.8% / Siam Flight Services Limited 49% / LSG Sky Chefs (Thailand) Ltd. 100% / LSG Catering Guam, Inc. 100% / LSG Service Guam, Inc. 100% / LSG Catering Saipan, Inc. 100% (before not disclosed)
Items this document does not state (20)
Business Description of the Subject CompanyAcquisition priceExpenses other than the acquisition priceType of ConsiderationMerger ratio/share exchange ratioTender offer priceMinimum number of shares to be purchasedTender offer periodFunding arrangementsGoodwill amountAmount of extraordinary income (loss)Impact on Business PerformanceDate of board resolutionContract DateExecution Date / Effective DateValuation methodologyIndependent valuation institutionSpecial CommitteeConditions Precedent to ExecutionManagement structure after acquisition

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 document indicates that this is a transaction to acquire a group of overseas in-flight catering-related companies through M&A, but does not specify the reasons for the transaction.

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Notice Concerning the Establishment of a Joint Venture (Affiliate) and the Acquisition of Shares by the Joint Venture (Making the Companies Affiliates, etc.) | GOURMET KINEYA CO.,LTD. (9850) timely disclosure | Komori