Following our previous statement dated June 10, 2015, in which we announced the purchase of shares in the Republic of Turkey (hereinafter referred to as “Turkey”), our consolidated subsidiary GS Yuasa International Ltd. (President: Osamu Murao, Principal Office: Minami-ku, Kyoto. hereinafter referred to as “GS Yuasa”) has effected the acquisition of 50% of the issued outstanding shares in İnci Akü Sanayi ve Ticaret Anonim Şirketi (hereinafter referred to as “İnci”). The acquired company has become one of our equity method affiliates and commenced its business under the renewed system, with its company name changed to İnci GS Yuasa Akü Sanayi ve Ticaret Anonim Şirketi. For further details, please be informed of the overview as shown below.
With this Turkish company under the coverage of equity method affiliation, we see the acquisition this time a good opportunity for our aim as a corporate group to realize business expansion in that part of the world, in which we have not been very competitive thus far. Our targets are: to increase domestic sales locally in Turkey, where there continues to be a steady increase in demand for lead-acid storage batteries; and further to scale up our existing exports to greater areas including Europe, Asia, the Middle East and North Africa. As part of our global strategy, we are committed to pursue a large expansion of our lead-acid storage battery sales in the aforesaid regions.
１．Overview of New System of İnci
|(1)Name||İnci GS Yuasa Akü Sanayi ve Ticaret Anonim Şirketi|
|(2)Located in||Manisa Province, Turkey|
|(3)Year of Incorporation||1984|
|(4)Names & Titles of Reps.||Cihan Elbirlik (Managing Director), Yuji Hashimoto (Deputy Managing Director)|
|(5)Business||Manufacturing/Selling of Lead-Acid Storage Battery for Automotive, Forklift and Stationary Applications|
|(6)Share Capital||53 million Turkish Liras (around 2.4 billion Japanese Yen) |
* Calculated to the Japanese currency with 45.93 Yen for 1 Turkish Lira
|(7)Number of Personnel||644|
|(8)Composition of Shareholders||İHD: 50%; GS Yuasa: 50%|
2. Future in Prospect
The impact that may be given to our group’s business results of this financial year is expected to be slight
End of Statement