Sale of Shares in Nippon Sheet Glass Environment Amenity

Date: 31 January 2019
Source: www.nsg.com
Sale of Shares in Nippon Sheet Glass Environment Amenity
Photo source
www.nsg.com

Date: 31 January 2019

NSG Group announced today the decision to sell its entire shareholdings in Nippon Sheet Glass Environment Amenity, Co., Ltd., a wholly-owned subsidiary, to Hibino Corporation.

Utilizing its established technologies related to soundproofing, vibration reduction and acoustic engineering and offering integrated engineering and management services including inspection, measurement, design and construction, NEA has been successfully providing customers with excellent sound environment.

While NEA has been stably contributing to NSG, it was concluded that NEA’s further development can be achieved better through a synergy with a third party.

Based on the analysis of various factors, it was determined that the sale of shares to Hibino would be the most effective way to enhance NEA’s corporate value.

The sale is scheduled for April 1, 2019 at the price of JPY 1.95 billion. This transaction has no material financial impact on NSG’s consolidated financial results for the fiscal years ending in March 2019 and March 2020, respectively.

Nippon Sheet Glass Environment Amenity, Co., Ltd.

  • Head Office: 3-5-23 Takanawa, Minato-ku, Tokyo
  • Representative Director and President: Shingo Isshiki
  • Business: Acoustic, soundproofing and vibration reduction design and construction  management
  • Capital: JPY 90 million
  • Established: February 5, 1988
  • Sales: JPY 4,631 million (Fiscal Year ended March 2018)

Hibino Corporation

  • Head Office: 3-5-14 Konan, Minato-ku, Tokyo
  • President & CEO: Teruhisa Hibino
  • Business: Sales of professional audio equipment, design, installation and maintenance of systems, development, manufacturing and sales of visual products, planning, rental and operation of acoustic systems for concerts and events.
  • Capital: JPY 1,749 million
  • Established: November 13, 1964
  • Sales: JPY 29.73 billion (Fiscal Year ended March 2018)
600450 Sale of Shares in Nippon Sheet Glass Environment Amenity glassonweb.com

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