To whom it may concern:
January 10, 2012
NPC Incorporated
1-1-20 Minami-senju, Arakawa-ku
Tokyo 116-0003, Japan
We hereby announce that the merger of the two consolidated
subsidiaries of NPC Incorporated, hereinafter referred to as
"the Company", NPC Europe GmbH (German subsidiary) and Meier
Solar Solutions GmbH (German subsidiary), hereinafter
referred to as "NEG" and "Meier" respectively, was resolved
at the board meeting on January 10, 2012.
Description
1. Objective of the merger
NEG provides sales and customer support for photovoltaic
manufacturing equipment mainly to European customers. Meier
holds factories in Germany and provides R&D, designing,
manufacturing, sales and customer support for the
photovoltaic manufacturing equipment. The Company aims to
reinforce the management base by effectively utilizing and
streamlining management resources by the merger.
2. Outline of the merger
(1) Merger schedule
January 10, 2012 Board resolution
Mid March, 2012 Execution of the merger agreement
Mid May, 2012 Effective date of the merger
(2) Method of the merger
The merger is expected to be an absorption-type merger
transaction by which NEG will be dissolved and absorbed into
Meier.
(3) Details of allotment related to the merger
Since both of the merging companies are wholly owned
subsidiaries of the Company, no money or other provisions
will be issued in connection with the merger.
(4) Changes to stock acquisition rights and bonds with stock
acquisition rights of NEG There is no relevant item.
3. Overview of merging companies
4. Description after the merger
Company name | NPC-Meier Europe GmbH (Tentative name) |
Headquarters location | Cologne, Germany |
Representative | Junichi Akita Florian von Gropper Petra Meurer |
Main business | R&D, designing, manufacturing, sale and marketing, customer support for the photovoltaic manufacturing equipment |
Fiscal year-end | July 31 |
Shareholder composition | NPC Incorporated: 100% |
5. Expected impact on financial results
This merger is not expected to have a material impact on
consolidated business results of the
Company.
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Announcement on Merger of Consolidated Subsidiaries |