Notice of Entering into a Basic Agreement to Acquire Shares in The Japan Times, Ltd.
We hereby announce that News2u Holdings, Inc (CEO & Representative Director: Minako Kambara Suematsu; headquarters: Chiyoda-ku, Tokyo, “News2uHD”) and Nifco, Inc. (CEO, Chairman & Representative Director: Toshiyuki Yamamoto; headquarters: Yokosuka-shi, Kanagawa, “Nifco”) entered into a Basic Agreement under which News2uHD is to acquire 100% of shares in The Japan Times, Ltd. (President & Representative Director: Takeharu Tsutsumi; headquarters: Minato-ku, Tokyo, “The Japan Times”), currently 100% owned by Nifco. The details are described as below:
1. Purpose of the Share Acquisition
The Japan Times is Japan’s oldest English-language newspaper which has just celebrated its 120th anniversary. Since its establishment in 1897, The Japan Times has committed to accurately providing news and analysis of the current state of events in Japan and the world, and plays an increasingly significant role in the era of Internet in which information distribution has been dramatically globalized.
Established in 2001, News2uHD began as a provider of online corporate press releases, focused on “Trustworthiness” and “Fairness”, and has provided an online platform for corporate information distribution supporting its clients in the planning and creation of corporate websites and owned media.
In the midst of change in the media industry, The Japan Times will pursue its role as “Japan’s window to the world” offering a larger online presence and reports from Japan to the world through the know-how and resources of News2uHD, and will aim to enhance its digital services for the News2u Group’s customer base.
2. Expected Synergy Effect
News2u Group’s philosophy, “Now and in the future, we deliver trustworthy information to you”, can be shared with The Japan Times as a news organization beyond differences in platform or audience.
We will develop The Japan Times’ business suited to the digital era for the News2u Group’s customer base.
The Japan Times has applied to digitalization for timely distribution of news; it adopted the policy to post news on the website prior to the paper in July 2014. The Japan Times will accelerate efforts in digitalization through the know-how and resources of News2uHD so that its readers can access up-to-the-minute news at anytime from anywhere. On the other hand, News2u Corporation, an operating company of the group, will develop new services of information distribution to the world for its corporate clients, collaborating with The Japan Times.
News2u Group will continuously pursue distribution of trustworthy information, leveraging the individual strengths of its subsidiaries and fostering mutually beneficial business growth.
3. Outline of the Company to be Acquired
(1)Name The Japan Times, Ltd.
(2)Address 4-5-4 Shibaura, Minato-ku, Tokyo
(3)Representative Mr. Takeharu Tsutsumi, President & Representative Director
(4)Line of Business Publications of English-language newspaper and books
(5)Capital JPY 550 million
4. Outline of the Seller
(1)Name Nifco, Inc.
(2)Address 5-3 Hikarinooka, Yokosuka-shi, Kanagawa
(3)Representative Mr. Toshiyuki Yamamoto, CEO & COO
(4)Line of Business Industrial plastic parts and components
(5)Capital JPY 7,290 million
June 12, 2017 Entered into a basic agreement on share transfer
Late June, 2017 Closing
News2u Holdings, Inc., Administration Department
TEL: 03-3512-0330 E-mail: firstname.lastname@example.org