デュエルビッツ入金不要ボーナスancellation of planned share transfer of consolidated subsidiary

December24,2020

デュエルビッツ入金不要ボーナスel, Ltd.

デュエルビッツ入金不要ボーナスel, Ltd. announces today that it has decided to cancel the transfer of a portion of the issued shares it holds in its consolidated subsidiary Kobelco & Materials Copper Tube Co., Ltd. (KMCT) to CTJ Holdings2, Ltd.*1)

デュエルビッツ入金不要ボーナスel strived to implement the share transfer as stated in the Announcement on Change in Consolidated Subsidiary (share transfer) as of September 27, 2019, despite subsequent changes*2) in the execution date due to the impact of the novel coronavirus (COVID-19) outbreak; however, the company has finally decided to cancel the planned share transfer*3) for the following reason.

1. Reason for the cancellation

After considerable discussion with Japan Industrial Partners, Inc., デュエルビッツ入金不要ボーナスel has decided to cancel the planned share transfer because it was deemed difficult to implement the transfer as the outlook for financial, economic, and other business conditions became unclear in the face of changes in the environment due to the COVID-19 outbreak and other factors.

2. Future outlook

Although the share transfer has been canceled, KMCT and Daishin P&T Co., Ltd. (a subsidiary of CTJ Holdings2, Ltd.) will consider collaboration in the copper tube business. Specifically, Daishin P&T plans to transfer part of its copper tube business at its Amagasaki Plant to KMCT’s Hatano Plant. We will also consider and implement other measures to enhance the competitiveness of both companies, including our overseas subsidiaries.

The cancellation of the share transfer is anticipated to have an insignificant impact on デュエルビッツ入金不要ボーナスel’s consolidated business results.

  • *1) CTJ Holdings2, Ltd., which underwent an organizational change from CTJ Holdings2 LLC on March 25, 2020, is a special purpose company in which all equity is indirectly held by Japan Industrial Partners, Inc.

    *2) The following is the list of announcements regarding changes in the scheduled execution date of this share transfer.

    February 21, 2020
    デュエルビッツ入金不要ボーナスhange of share transfer execution date of consolidated subsidiary
    March 31, 2020
    Change in scheduled execution date for share transfer of consolidated subsidiary
    June 17, 2020
    Change in scheduled execution date for share transfer of consolidated subsidiary

    *3) With the cancellation of the share transfer, デュエルビッツ入金不要ボーナスel has agreed to terminate the share transfer agreement with CTJ Holdings2, Ltd and Mitsubishi Materials Corporation.

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