OMRON Announces Preliminary Agreement to Form Joint Venture with The Sumitomo Warehouse Co., Ltd.Tokyo, Japan, Nov 16, 2006 - (JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) Newswire) - OMRON Corporation (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : 6645; NYSE NYSE See: New York Stock Exchange : OMRNY) announced that it has reached a preliminary agreement with The Sumitomo Warehouse Co., Ltd. ('Sumitomo Warehouse') to form a joint venture company by transferring 882 shares (49% of the outstanding shares) of its holding in OMRON Logistics Creates Co., Ltd. (OLC OLC - On-Line Computer system ), an OMRON subsidiary, to Sumitomo Warehouse. 1. Object of Joint Venture In order to raise customer satisfaction and maintain its industry lead, the OMRON Group has continuously worked to optimize optimize - optimisation supply chain management in its global distribution system. As a part of these efforts, OLC has been equipped with specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. functions that increase its distribution capabilities for OMRON Group products. In addition to the high-mix, low-volume logistics expertise that OLC has accumulated ac·cu·mu·late v. ac·cu·mu·lat·ed, ac·cu·mu·lat·ing, ac·cu·mu·lates v.tr. To gather or pile up; amass. See Synonyms at gather. v.intr. To mount up; increase. , its merger with Sumitomo Warehouse will strengthen its global operations Global Operations is a first-person shooter computer game developed by Barking Dog Studios and published by both Crave Entertainment and Electronic Arts. It was released in March of 2002, following its public multiplayer beta version which contained only the Quebec map. to further enhance logistical lo·gis·tic also lo·gis·ti·cal adj. 1. Of or relating to symbolic logic. 2. Of or relating to logistics. [Medieval Latin logisticus, of calculation efficiency within the OMRON Group. As a comprehensive, international logistics The negotiating, planning, and implementation of supporting logistic arrangements between nations, their forces, and agencies. It includes furnishing logistic support (major end items, materiel, and/or services) to, or receiving logistic support from, one or more friendly foreign company with a high level of proficiency pro·fi·cien·cy n. pl. pro·fi·cien·cies The state or quality of being proficient; competence. Noun 1. proficiency - the quality of having great facility and competence in supply chain inventory management, Sumitomo Warehouse possesses a powerful logistical infrastructure both domestically and internationally, and particular strengths in building and operating global logistics systems. Sumitomo Warehouse has recently established a local subsidiary and begun constructing a new warehouse to bolster This article is about the pillow called a bolster. For other meanings of the word "bolster", see bolster (disambiguation). A bolster (etymology: Middle English, derived from Old English, and before that the Germanic word bulgstraz its distribution center capabilities in China, where the OMRON Group is also actively strengthening its operations, and continues to expand its logistical capabilities both in China and Southeast Asia Southeast Asia, region of Asia (1990 est. pop. 442,500,000), c.1,740,000 sq mi (4,506,600 sq km), bounded roughly by the Indian subcontinent on the west, China on the north, and the Pacific Ocean on the east. . Through this joint venture, the OMRON Group aims to further improve customer satisfaction by providing even higher-quality global logistics services. Additionally, through this new partnership between the OMRON Group and the Sumitomo Warehouse Group, both companies look forward to mutually enhancing their corporate value. 2. Outline of OLC
(1) Name: OMRON Logistics Creates Co., Ltd.
(following the joint venture, the name will
be changed to OMRON & SUMISO LOGISTIC
CORPORATION (tentative name).
(2) Established: February 21, 1997
(3) Business Lines: Domestic and international distribution
of OMRON products, import/export, operation
and management of logistical bases,
representative inspection of imported products
(4) Location: 1-6-20 Dojima, Kita-ku
Osaka, Japan
(5) Capital: 90 million yen
(6) Representative: Masafumi Kondo
(7) Major shareholders and percentages of shares held:
------------------------------------------------------------------------
OMRON Sumitomo Warehouse
No. of % of No. of % of
shares owned shares owned shares owned shares owned
------------------------------------------------------------------------
Before
transferring
shares 1,800 100.0% -- --
After
transferring
shares 918 51.0% 882 49.0%
------------------------------------------------------------------------
(8) Sales: FY 2006 forecast of approximately 13 billion yen
FY 2007 forecast of approximately 12 billion yen
3. Outline of Sumitomo Warehouse (as of March 31, 2006)
(1) Name: The Sumitomo Warehouse Co., Ltd.
(2) Business Lines: Warehousing; harbor transportation; real estate
trade, leasing, and agent operations
(3) Established: August 1, 1923
(4) Location: 2-1-5 Kawaguchi, Nishi-ku
Osaka, Japan
(5) Representative Shoichi Abe, President
(6) Capital: 20.784 billion yen
(7) No. of employees: 744
(8) Major shareholders and percentages of shares held:
------------------------------------------------------------------------
Shareholders No. of % of
shares owned shares owned
------------------------------------------------------------------------
HSBC Fund Service J2 15,596,000 8.15%
The Master Trust Bank of Japan, Ltd. 12,556,000 6.56%
Daiwa House Industry Co., Ltd. 10,000,000 5.22%
Japan Trustee Service Bank, Ltd. 9,133,000 4.77%
Mitsui Sumitomo Insurance Co., Ltd. 8,292,000 4.33%
------------------------------------------------------------------------
(9) Relationship with OMRON
No capital ties
4. Future Schedule The parties plan to conclude the share transfer contract and final joint venture contract by April 1, 2007. 5. Business Outlook This preliminary agreement is not expected to have a significant material effect on OMRON's consolidated or non-consolidated outlook. About OMRON Corporation Headquartered in Kyoto, Japan, OMRON Corporation (TSE: 6645; NYSE: OMRNY) is a global leader in the field of automation. Established in 1933 and headed by President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Hisao Sakuta, OMRON has more than 28,000 employees in over 35 countries working to provide products and services to customers in a variety of fields including industrial automation, electronic components, social systems (ticket gate machines, ticket vending machines vending machine, coin-operated, automatic device for selling goods. Many vending machines are capable of making change, and some of the more sophisticated ones accept paper money or credit cards. , and traffic control) and healthcare. The company is divided into five regions and head offices are in Japan (Kyoto), Asia Pacific (Singapore), China (Shanghai), Europe (Amsterdam) and US (Chicago). For more information, visit OMRON's website at www.omron.com Source: OMRON Corporation Contact: James Seddon Corporate Brand Communications Department Tel: +81-3-3436-7202 E-mail: james_seddon@omron.co.jp Copyright [c] 2006 JCN Newswire. All rights reserved. A division of Japan Corporate News Network K.K. |
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