Kinugawa Rubber Industrial Co., Ltd.

Company Profile

■URL

http://www.kinugawa-rubber.co.jp/

■Address

330, Naganuma-cho, Inage-ku, Chiba-shi, Chiba, 263-0005, Japan

Business Overview

-A leading supplier of automotive rubber and synthetic resin products. Its major customer is the Nissan Group, sales to which account for approximately 60% of the Company's overall sales.

Merger with VG Holdings

-On October 26, 2016, the Company announced that it has signed a merger agreement with the VG Holdings No.1, which operates under the Development Bank of Japan Inc., and has submitted a special report about the plan to the Kanto Local Finance Bureau. The merger will be effective December 1, 2016, and VG Holdings will be the surviving company.

Acquisition by VG Holdings

  • March 11, 2016:  VG Holdings announced a tender offer to acquire Kinugawa Rubber shares.
  • July 19, 2016-August 30, 2016: VG Holdings No.1 completed TOB and acquired 92.41% of voting rights in Kinugawa Rubber.
  • October 21, 2016: Kinugawa Rubber was delisted from the first section of the Tokyo Stock Exchange pursuant to criteria for delisting.

Shareholders

-Listed on the first section of the Tokyo Stock Exchange. (As of Mar. 31, 2016)
Name or Company Name Investment Ratio (%)
NISSAN MOTOR CO.,LTD. Retirement Benefit Trust Account 20.25
Toyo Rubber Co., Ltd 11.89
BNY GCM CLIENT ACCOUNT JPRD AC ISG (FE-AC) 4.20
Japan Trustee Services Bank, Ltd. (Trust Account) 4.01
Nippon Life Insurance Co. 2.66
BNP PARIBAS SECURITIES SERVICES LUXEMBOURG/JASDEC/FIM/LUXEMBOURG FUNDS/UCITS ASSETS 2.15
NORTHERN TRUST CO. (AVFC) RE FIDELITY FUNDS 2.04
Mizuho Bank, Ltd. 1.99
CHASE MANHATTAN BANK GTS CLIENTS ACCOUNT ESCROW 1.82
STATE STREET BANK AND TRUST COMPANY 505224 1.73
Total 52.74

Products

Window parts
Glass runs
Window frames/partitions

Hood parts
Hood seals

Interior/Exterior parts
Assist grips

Trunk, Back door parts
Trunk lids / Back door weather strips

Door parts
Door weather strips
Welt body sides
Parting seals

Engine, Drivetrain parts
Engine mounts
Center bearing insulators

Exhaust parts
Exhaust mounts
Dynamic dampers

Water hose parts
Radiator hoses
Heater hoses
Water hoses

Intake hose parts
Blow-by hoses
Inlet hoses

Oil hose parts
Torque converter hoses
Breezer hoses

Cushion parts
Bumper rubbers

Other seal parts
Plug rubbers / Grommet rubbers
Filler neck packings
Steering wheel covers
Control lever boots
Insulator trans holes

Suspension parts
Bushes
Strut mounts (Steel, Aluminum)
Bound bumpers
Spring sheet rubbers
Stabilizer bushes
Axle bumpers

Exhaust hoses
Vacuum hoses
Air hoses

Fuel hose parts
Filler hoses
Vent hoses
Fuel hoses
Evaporator hoses

Brake hose parts
Master back hoses

Pedal parts
Pad pedals

Brake master cylinder parts
Master cylinder cups
Diaphragm gaskets
O rings

Disc brake parts
Piston seals
Piston boots for brake calipers
Pin boots for brake calipers

Drum brake parts
Wheel cylinder cups
Piston boots for wheel cylinders

History

Oct. 1939 Established Kinugawa Protection Film Co. Ltd. in Hirai, Edogawa-ku, Tokyo as a manufacturer of automotive components and other rubber products with a capital investment of 70,000yen.
Jul. 1961 Changed the trade name to Kinugawa Rubber Industrial Co., Ltd.
May, 1962 Established Chiba Plant in Chiba City, Chiba and started operation.
Jul. 1962 Listed on the Second Section of the Tokyo Stock Exchange.
Mar. 1971 Established a joint venture, Chung Kwang Rubber Goods Mfg. Co., Ltd. in Taipei with Chungtai Rubber Industrial Co., Ltd. in Taiwan.
Sep. 1978 Listed on the First Section of the Tokyo Stock Exchange.
Aug. 1985 Established CKR Industries Inc. in Winchester, Tennessee with Sherdon Rubber Company in USA.
Jul. 1991 Established a subsidiary, Kinugawa Rubber (U.S.A.) Inc. in Winchester, Tennessee
Jan. 1994 Chung Kwang Rubber Goods Mfg. Co., Ltd., the company's subsidiary
established Tianjin Star Light Rubber and Plastic Co., Ltd. in Tianjin, China as a joint venture with local investors (currently a consolidated subsidiary).
Dec. 1995 Acquired 70% of the stocks of Toyo Rubber Industrial Co. Ltd.
Aug. 1996 Chung Kwang Rubber Goods Mfg. Co., Ltd., company's subsidiary established as 100% subsidiary "Fuzhou Fukwang Rubber & Plastic Co., Ltd." in Fuzhou City, China (a currently consolidated subsidiary).
Sep. 1997 Closed Chiba Plant and sold the plot.
Sep. 1997 Dissolved Koriyama Kinugawa Co. Ltd. and began operations as Koriyama Plant
Sep. 1998 Closed and sold Fujisawa Logistics Center.
Jan. 1999 Nissan and Toyo Rubber agreed on the transfer of stocks of Kinugawa Rubber.
Apr, 1999 Merged Taiyo Rubber Industry with Narita Gosei Co. Ltd.
Mar. 2000 Established Kinutech, a subsidiary, in Inage-ku, Chiba (currently a consolidated subsidiary)
Jun. 2001 Established Kinugawa (Thailand), a joint subsidiary in Thailand (currently a consolidated subsidiary)
Sep. 2001 Changed three Japanese plants (Koriyama, Kyushu, Moka) into subsidiaries for outsourcing production; Kinugawa Koriyama in Koriyama-shi, Fukushima Prefecture, Kinugawa Ooita in Nakatsu-shi, Ooita Prefecture, and Kinugawa Anti-vibration Components and Kinugawa Brake Components (currently a consolidated subsidiary) in Moka-shi, Tochigi Prefecture.
Apr. 2003 Merged Shimada Channel Seisakusho into Sato Gomu Kagaku Kogyo Co., Ltd.
Jan. 2004 Established a consolidated subsidiary, SEC Kasei, in Shunan-City, Yamaguchi Prefecture, Japan.
May, 2004 Acquired additional shares in Teito Rubber, a consolidated subsidiary.
Jul. 2005 Transferred part of the share capital it held in Tianjin Star Light Rubber and Plastic Co., Ltd. in China. The Chinese company is currently affiliated under the equity method.
Nov. 2006 Established a consolidated subsidiary, Kinugawa Rubber (Guangzhou) Co., Ltd., in Guangzhou, China.
Jun. 2007 Acquired shares in CPR Gomu Ind. P.C.L. of Thailand, which is now a consolidated subsidiary.
May 2010 Established Kinugawa Mexico, S.A. de C.V. in Guanajuato, Mexico.
Dec. 2010 Established a new subsidiary Kinugawa Rubber (Wuhu) Co., Ltd. in Wuhu, China.。
Mar. 2012 Established PT.Kinugawa Indonesia.
Dec. 2012 Established Kinugawa Rubber India Private Limited in Tamil Nadu.
Established a new subsidiary Kinugawa Rubber (Zhengzhou) Co., Ltd. in Zhengzhou, China.
Jun. 2013 Established a new company Limited Liability company Kinugawa RUS in Izhevsk, Udmurt, Russia.
Nov. 2013 Established a new company KINUGAWA BRASIL Ltda. in Resende, Rio de Janeiro, Brazil.
Aug. 2016 VG Holdings No.1, which operates under the Development Bank of Japan Inc., completed TOB and acquired 92.41% of voting rights in Kinugawa Rubber.
Oct. 2016 Kinugawa Rubber was delisted from the first section of the Tokyo Stock Exchange pursuant to criteria for delisting.

Supplemental Information 1