Notice of Sale of the Tadotsu Factory

July 17, 2013


[Corporate trends]

Tsuneishi Shipbuilding Co., Ltd. (hereinafter called Tsuneishi Shipbuilding, Headquarters: 1083, Tsuneishi, Numakuma-cho, Fukuyama city, Hiroshima, President Takao Kawamoto) concluded a contract to sell and transfer all issued stocks of Tadotsu Shipbuilding Co., Ltd. (hereinafter called Tadotsu Shipbuilding) to Imabari Shipbuilding Co., Ltd. (hereinafter called Imabari Shipbuilding) with all business related to the Tadotsu factory succeeded to the 100% subsidiary company, Tadotsu Shipbuilding through an absorption-type corporate split. Following is the detailed announcement.

1. Future plan for selling Tadotsu Shipbuilding Co., Ltd.

Tsuneishi Shipbuilding is planning to allow its subsidiary company, Tadotsu Shipbuilding, to succeed the business related to the Tadotsu Factory through an absorption-type corporate split on September 1st, 2013, and sell and transfer all issued stocks of Tadotsu Shipbuilding, which is owned by Tsuneishi Shipbuilding, to Imabari Shipbuilding at the end of December, 2014.

2. Company outline of Tadotsu Shipbuilding (as date of September 1st, 2013 (planned))
Name of company Tadotsu Shipbuilding Co., Ltd.
Headquarters 1-1 Higashi-Minato-machi, Tadotsu-cho, Naka-Tadotsu-gun, Kagawa Prefecture
Representative Takao Kawamoto
Capital 100,000,000 yen
Business Design, building, and repair of ships
Date of establishment March 27th, 2013
3. Operational plan of Tadotsu Shipbuilding

After September 1st, 2013, Tadotsu Shipbuilding will continue shipbuilding for orders from Tsuneishi Shipbuilding until the end of 2014. At the same time, Tadotsu Shipbuilding will build ships for orders from Imabari Shipbuilding as well.

4. Reason for selling Tadotsu Factory

Tsuneishi Shipbuilding will continue to promote our business, relying on overseas factories as main production sites. However, we’ll continue technology development at our domestic factories and consider these domestic factories as crucial sites for our development. However after examining recent developments in our business, in addition to our business policy, we decided to sell the Tadotsu Factory so that we can improve our business efficiency by consolidating management resources at our two present domestic factories into one headquarters factory.

- Contact for this information -
Company Communication/CSR Room
TEL: 084-987-4915