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We are pleased to inform that ADVICS Co., Ltd. (hereinafter, referred to as ADVICS) has agreed with Sumitomo Electric Industries, Ltd. (hereinafter referred to as SEI) to acquire 80% of the stocks of Sumiden Brake S & E Inc. (hereinafter, referred to as S & E), which is a subsidiary of SEI, on April 1, 2008.
1. Reason for acquisition of the stocks
In recent years, the sophistication of automobile functions has been rapidly progressing and aftermarket parts are required to have high performance and reliability. In addition, it is predicted that cost competition will intensify increasingly.
Under such circumstances, ADVICS has decided to acquire 80% of stocks of S & E, which are now held by SEI Group, by aiming to expand its sales by promoting the efficiency via the consolidation of marketing functions and by expanding various products.
Through the acquisition of the stocks of S & E, ADVICS will further strengthen aftermarket products as well as OE products for vehicle manufacturers, with which ADVICS prides itself on its world-class technical development ability, and continuously develop as a comprehensive brake supplier that provides security and safety to customers all over the world.
2. Overview of the company the stocks of which is to be acquired
| Company Name | : | Sumiden Brake S & E Inc. |
| Established | : | February 3, 1998 |
| Location | : | 1-1-1 Koya-kita, Itami, Hyogo, Japan |
| Representative | : | Masaru Taniguchi, President |
| Capital | : | 90 million yen |
| Sales | : | 4,790 million yen (for the year ending March, 2007) |
| Employees | : | 32 (as of January, 2008) |
| Business activities | : | Sale of aftermarket parts |
For further information, please contact Corporate Administration Dept.
Phone : +81 (0)566 63 8000
Facsimile: +81 (0)566 22 8021
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