TOKYO - Mitsui O.S.K. Lines, Ltd. resolved at its board of directors' meeting held on November 30 to acquire common stock of DAIBIRU CORPORATION (Daibiru; President & CEO: Toshiyuki Sonobe; Headquarters: Kita-ku, Osaka City) and Utoc Corporation (Utoc; President: Masahiro Tanabe; Headquarters: Naka-ku, Yokohama City,) through tender offers for the purpose of making both companies wholly-owned subsidiaries.
By making Daibiru and Utoc wholly-owned subsidiaries, MOL aims to reinforce group management through more solid integration of management resources in the group. MOL will work on sustainable enhancement of its corporate value, concurrently with accelerating revenue growth in the entire group as well as strengthening the business of the subsidiaries.
Aim of the Transactions
Create further corporate value through the global social infrastructure businesses including but not limited to shipping business
Achieve stable business management by diversifying its business portfolio into stable businesses in preparation for fluctuation in profitability due to changes in market conditions of shipping.
Optimize allocation of management resources within the group in terms of the environment strategies and towards a global growth.
Reinforce group management by reforming group governance structure.
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