January 31, 2011
Corporate Name: Nabtesco Corporation
Representative: Kazuyuki Matsumoto
President & CEO
(Code 6268 TSE 1st Section)
Contact: Kenichi Nakamura
General Manager
General Administration Department
(TEL: 03-3578-7070)
Announcement on Acquisition of Automatic Door Business
Today, Nabtesco Corporation resolved to acquire the Automatic Door Business of Kaba
Holding AG (hereafter, Kaba) of Switzerland, in the form of shares purchase of Kaba Gilgen
AG, and concluded the Share Purchase Agreement.
1. Acquisition purpose
The Automatic Door Business of Kaba has a long business history in Europe, under
the esteemed brand of "Gilgen", "Kaba" and/or "Kaba Gilgen", and also is one of the
largest players in the Platform Door Business in Europe, USA, and East Asia including
China.
Nabtesco, primarily under "NABCO" brand, is engaged in the automatic doors
business in Japan, USA, and China, and ranks as one of the top manufacturers in the
world. Nabtesco is also developing Platform Door Business in Japan and Asian
countries. Through the subject acquisition of Kaba''s automatic door business,
Nabtesco will further enhance its world market position by adding European market to
its coverage area.
2. Business Profile of Kaba Gilgen AG
(1) Corporate Name Kaba Gilgen AG
(2) Head Office Freiburgstrasse 34 CH-3150
Schwarzenburg, Switzerland
(3) Representative CEO Jakob Gilgen
(4) Business
Sale and manufacture of automatic door for buildings,
platform screen door, mobile partition, mobile gates and
so on
(5) Share Capital 2 Million CHF
(6) Establishment 1961
(7) Major Shareholders Kaba Holding AG (100%)
(8) Total Equity FY08/09 60 Million CHF, FY09/10 62 Million CHF
(9) Total Assets FY08/09 242 Million CHF, FY09/10 253 Million CHF
(10) Sales * FY08/09 180 Million CHF, FY09/10 182 Million CHF
(11) EBIT * FY08/09 11.0 Million CHF, FY09/10 17.4 Million CHF
(12) Number of Employees * 829
* Figures for Door Automation segment of Kaba Holding AG
3. Business Profile of Kaba Holding AG
(1) Corporate Name Kaba Holding AG
(2) Head Office Hofwisenstrasse 24, 8153 Rümlang, Switzerland
(3) Representative
Ulrich Graf, Chairman of the Board
Rudolf Weber, CEO
(4) Business
Sale and manufacture of Security equipment such as
access control system and security gates, automatic
door for buildings, platform screen door, key cylinders
and locks
(5) Share Capital 0.4 Million CHF
(6) Establishment 1862
(7) Total Equity * 374 Million CHF
(8) Total Assets * 991 Million CHF
(9) Major Shareholders
Karin Forrer 5.2%
Ulrich Bremi 5.1%
Allianz SE 5.0%
4. Number of shares to be acquired, acquisition price and change in share holding
(1) Number of share before acquisition 0 shares (Shareholding ratio: 0%)
(2) Number of share to be acquired 2,001 shares(Acquisition Price: About 20 Billion JPY)
(3) Number of share after acquisition 2,001 shares (Shareholding ratio: 100%)
5. Schedule
Resolution by Board of Directors: January 31, 2001
Expected closing date: April 1, 2011
6. Impacts on financial performance
The consolidation of the acquired business will be from the fiscal year ending March
31, 2012, and no impacts on the financial performance for the fiscal year ending March
31, 2011 are expected.
In the event any significant impacts on the future financial performance will be
expected, such impacts will be disclosed as soon as possible.