Regarding the partial transfer of share holdings in Ogihara Corporation
Daiwa Securities SMBC Principal Investments Co. Ltd.
Daiwa Securities SMBC Principal Investments Co. Ltd. (President: Akira Inoue, Address: Chiyoda-ku, Tokyo, hereinafter gDaiwa SMBC PIh) decided to transfer a part of shares holdings in Ogihara Corporation (President: Hiroaki Watanabe, Adress: Ota-shi, Gunma, hereinafter gOgiharah) to Thai Summit Autoparts Industry Co., Ltd (President: Somporn Juangroongruangkit, Adress: Thailand, hereinafter gTSAh), as Ogihara entered into business and capital tie-up agreement with TSA. At the current moment Daiwa SMBC PI holds approximately 46 % of shares in Ogihara, and after this transaction, the amount of shares that Daiwa SMBC PI holds in Ogihara will be 10 %.
Since third party allotment of Ogihara shares to Daiwa SMBC PI in January 2003, Ogihara and Daiwa SMBC PI have been working together on growth strategies and strengthening management system to increase shareholder value, by bringing in new management, promoting sales activity and operation efficiency, reorganizing and integrating subsidiaries, and introducing new human resources system.
As part of Ogiharafs international strategy to expand its automotive press and die business in Asia in association with TSA, TSA has offered Daiwa SMBC PI to acquire its shareholdings in Ogihara. After careful considerations, Daiwa SMBC PI has accepted the offer based on the contribution of this transaction to Ogiharafs overall expansionary business strategy.
Daiwa SMBC PI is planning to transfer its shareholdings in Ogihara to TSA in the middle of March 2009.