2023
Sept.22, 2023
MINEBEA MITSUMI Inc.
Announcement of Investment in TB Investment Limited Partnership formed for the purpose of having Toshiba delisted
MinebeaMitsumi Inc. (the "Company" or "we") is hereby pleased to announce today that the Company completed an investment of 10 billion yen in total to TB Investment Limited Partnership as a limited partner, following the Tender Offer Report regarding the tender offer for the Shares of Toshiba Corporation (Securities Code: 6502) submitted to Director-General of the Kanto Local Finance Bureau by TBJH, Inc. on September 21, 2023.
TB Investment Limited Partnership was formed under the leadership of Japan Industrial Partners, Inc. in order to acquire the shares of Toshiba Corporation ("Toshiba") through a tender offer through investment vehicles, to have Toshiba delisted, and to increase the corporate value of Toshiba and its group companies.
1. Purpose of the Investment
We are further increasing our value as the only "INTEGRATION*" manufacturer of precision components in the world through integrating our core business of "8 Spears" as well as developing and supplying components that meet the various requirements of our customers in the markets that are growing at a tremendous speed. In addition, through organic growth, implementation of M&A's, and product development aiming at solving social issues, we are aiming to achieve sales of 2.5 trillion yen and operating profit of 250 billion yen.
On the other hand, Toshiba's businesses include many businesses that are related to those in our group and have a high affinity. Toshiba's efforts to achieve sustainable growth based on a stable shareholder base through going private, and contributing to the development of industry, are also consistent with our management challenges and goals. Furthermore, if we consider the possibility of future collaboration, we believe that this may also lead to an increase in our corporate value. We recognize that there is a possibility of creating various synergies, but at the moment, there is no concrete agreement on this point or a definite policy. The main purpose of this investment is "to participate in the privatization of Toshiba and to cooperate in resolving the issues they are facing." There are no agreements with the investee regarding collaboration with Toshiba or participation in management, and this investment is not on condition of the agreement.
* INTEGRATION means "combining" rather than "simple gathering." The Company will evolve its "core products" by combining and utilizing its proprietary technologies and will create new products in various fields through the INTEGRATON of the evolved products.
2. Outline of TB Investment Limited Partnership
| (1) Name | TB Investment Limited Partnership | ||
|---|---|---|---|
| (2) Address | 1-1 Marunouchi 2-chome, Chiyoda-ku, Tokyo | ||
| (3) Foundation of establishment | an investment limited partnership defined in Article 2, Paragraph 2 the Limited Partnership Act for Investment(Act No. 90 of 1998) | ||
| (4) Purposes of establishment | Execution of a series of transactions aimed at delisting Toshiba, including the acquisition of Toshiba's common shares through a tender offer through TBJH, and enhancing the corporate value of Toshiba and its group companies. | ||
| (5) The day of establishment | March 24, 2023 | ||
| (6) Total amount of investment | Undisclosed | ||
| (7) Overview of the Investors, Equity Ratio, and Investors | Undisclosed | ||
| (8) Outline of general partners | Name | TBGP, Inc. | |
| Address | 1-1 Marunouchi 2-chome, Chiyoda-ku, Tokyo | ||
| Representative | Representative Director Shinichi Inagaki | ||
| Business | Management and operation of investment funds, etc. | ||
| (9) Relation between the Company and TB Investment Limited Partnership | Relation between the Company and TB Investment Limited Partnership | Not applicable. | |
| Relation between the Company and TBGP, Inc. | Not applicable. | ||
3. Future Outlook
The impact of this transaction on the Company's consolidated business results for the fiscal year ending March, 2024 is expected to be minimal. If any event that needs to be disclosed, we will promptly disclose the relevant information.
| Company Name: | MINEBEA MITSUMI Inc. |
|---|---|
| Representative: | Yoshihisa Kainuma Representative Director, Chairman CEO (Code No. 6479, TSE Prime Market) |
| Contact: | Yasuo Komine General Manager Corporate Communications and Investor Relations Office |
| Phone: | +81-(0)3-6758-6703 |
Product information, contact and other context are subject to change without prior notice.
