MENICON CO., LTD. January 26, 2022
Menicon Co., Ltd.
President and CEO: Hidenari Tanaka
Securities Code: 7780
TSE, 1st section, NSE, 1st section
Contact:
Motonari Watanabe
Senior Executive Officer,
Corporate Management, CFO
Phone:+81-52-935-1646
Notice of Acquisition of Fixed Assets
Menicon Co., Ltd. ("the Company") hereby announces that its board of directors has resolved at a meeting held on January 26, 2022 to acquire fixed assets at its wholly owned subsidiary, Menicon Malaysia Sdn. Bhd.
1. Reason for acquisition
By constructing a new plant and increasing the production capacity of daily disposable lenses, we will be able to provide a stable supply of daily disposable contact lenses, which are driving the contact lens market in Japan and overseas.
2. Overview of the subsidiary acquiring the fixes assets
(1) | Name | Menicon Malaysia Sdn. Bhd. |
(2) Address | 51-21-A Menara BHL Bank, Jalan Sultan Ahmad Shah, 10050 | |
Penang, Malaysia | ||
(3) | Name and title of | Managing Director: Koji Kawaura |
representative | ||
(4) | Description of business | Manufacture of contact lenses |
(5) | Capital | 17,000 thousand MYR (448 million yen*1) |
(As of December 31, 2021) | ||
*1 The Japanese yen conversion rate of the capital is based on the MUFG Bank (Malaysia) reference rate (TTM) (1 MYR = 26.50 yen) at the time of establishment on March 9, 2021 and the Mizuho Bank conversion rate (1 MYR = 26.36 yen) applied at the time of payment on July 21, 2021.
The Japanese yen amounts are rounded down to the nearest million yen and Malaysian Ringgit amounts are rounded down to the nearest thousand MYR.
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3. Details of the acquired assets (planned)
(1) | Name of the subject asset | Malaysia Factory (tentative name) |
(2) | Location | No2 Jalan Hi-Tech 16, Zon Industri Fasa 4 |
Kulim Hi-Tech Park, 09090 Kulim, Kedah, Malaysia | ||
(3) | Summary of Assets | (a) (b) Contact lens manufacturing factory building, |
contact lens manufacturing equipment and incidental | ||
equipment | ||
(4) Acquisition cost*2 | (a) 3,016 million yen and 21,211 thousand USD | |
(total amount: approx. 5,455 million yen*3) | ||
(b) 445,513 thousand MYR | ||
(approx. 12,296 million yen*3) | ||
(5) | Financial Planning | Capital increase and loans from the Company, etc. |
*2 The Japanese yen is rounded down to the nearest million yen, the US dollar is rounded down to the nearest thousand USD, and the Malaysian Ringgit is rounded down to the nearest thousand MYR.
*3 The Japanese yen conversion rate is based on the MUFG Bank (Malaysia) reference rate (1 MYR = 27.60yen) and the MUFG Bank, Ltd. Exchange Quotations (TTM) (1 USD = 115.02 yen) on December 30, 2021.
4. Contractor of the acquired asset (a)
(1) Name | JGC CORPORATION | |
(2) | Location | 2-3-1 Minatomirai, Nishi-ku, Yokohama City, |
Kanagawa | ||
(3) | Name and title of representative | Representative Director, President |
and Chief Executive Officer: Farhan Mujib | ||
(4) | Description of business | EPC business for various plants and facilities |
overseas, etc. | ||
(5) | Capital | 1,000 million yen |
(6) | Date of established | April 8, 2019 |
(7) | Net assets | 9,028 million yen (as of March 31, 2021) |
(8) Total assets | 199,354 million yen (as of March 31, 2021) | |
(9) Major shareholders and investment ratio | JGC HOLDINGS CORPORATION 100% | |
(10) Relationship between the listed | There is no business, capital, or personal | |
company and this company | relationship to be noted with the company. | |
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5. Contractor of the acquired asset (b)
(1) | Name | JGC Asia Pacific (M) Sdn. Bhd. |
(2) | Location | Lot 782, Block 20, Kemena Land District, |
Jalan Tanjung Kidurong, Bintulu, | ||
97000, Sarawak, Malaysia | ||
(3) | Name and title of representative | Hiroshi Tezuka (Director), Noriaki Hase (Director) |
(4) | Description of business | Construction of oil, gas, petrochemical, and industrial |
plants | ||
(5) | Capital | 750 thousand MYR (approx. 19 million yen) *4 |
(6) | Date of established | December 8, 2005 |
(7) | Net assets | 4,926 thousand MYR (approx. 126 million yen) *4 |
(As of December 31, 2020) | ||
(8) Total assets | 6,343 thousand MYR (approx. 162 million yen) *4 | |
(As of December 31, 2020) | ||
(9) | Major shareholders and | JGC Asia Pacific Pte Ltd 100% |
investment ratio | ||
(10) Relationship between the listed | There is no business, capital, or personal relationship to | |
company and this company | be noted with the company. | |
*4 The Japanese yen is rounded down to the nearest million yen and the Malaysian Ringgit is rounded down to the nearest thousand MYR. The Japanese yen conversion rate is based on the MUFG Bank (Malaysia) reference rate (TTM) (1 MYR = 25.61 yen) on December 30, 2020.
6. Acquisition schedule
(1) | Resolution by the Board of Directors | January 26, 2022 |
(the Company) | ||
(2) | Resolution by the Board of Directors | January 28, 2022 (provisional) |
(subsidiary) | ||
(3) | Conclusion of contract | January 31, 2022 (provisional) |
(4) | Building starts | August 2022 (provisional) |
(5) | Property delivery date (completion) | End of December 2023 (provisional) |
7. Forecast
The impact of this matter on the Company's consolidated business results for the fiscal year ending March 31, 2022 is expected to be minimal.
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(Outline of the new plant)
(1) | Site area | About 200,000m2 | |
(2) Total floor space | About 45,000m2 | ||
(3) | Outline of the factory | 1 floor above ground (factory), 2 floors above ground | |
(office, etc.) | |||
(Rendering of completed building) |
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Disclaimer
Menicon Co. Ltd. published this content on 26 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 January 2022 07:15:11 UTC.
