Official Agreement on Management Integration of Consolidated Subsidiaries
Dec. 21, 2018
Aisin Seiki Co., Ltd. and its consolidated subsidiaries Aisin AW Co., Ltd. (AW) (headquarters: Anjo, Aichi, President: Kazuhisa Ozaki) and Aisin AI Co., Ltd. (AI-A) (headquarters: Nishio, Aichi, President: Masayasu Saito) signed a basic agreement on October 31, 2018 and proceeded with discussions on the management integration of AW and AI-A effective April 2019. Today (December 21, 2018), an official agreement was reached on integration of the two companies into AW.
(1) Schedule of management integration
Date of signing of basic agreement (among 3 companies): October 31, 2018
Date of extraordinary shareholders' meeting to approve merger agreement (AW, AI-A): December 21, 2018
Date of concluding official agreement (among 3 companies): December 21, 2018
Agreement effective: April 1, 2019 (scheduled)
(2) Method of management integration
The two companies are scheduled to merge, with AW as the surviving company and AI-A to cease to exist. As a shareholder in AI-A, Aisin Seiki is to be allocated an equivalent value of common stock in AW.
Moving forward, the Aisin Group will continue working together as one to respond flexibly to the changing needs of society and further enhance our competitiveness.