News Release (Sumitomo Corp.)
Sep. 24, 2008
Sumitomo Corporation
Sumitomo Corp.'s 3 subsidiaries' strategic unification in
Japanese domestic machinery & electric trades
--improving group management quality by leveraging integrated corporate strength--
Sumitomo Corporation(President and C.E.O., Susumu Kato; hereinafter "SC") announced the unification of 3 subsidiaries, Sumitomo Shoji Machinex Co.,Ltd.(President, Takehiko Arai), Sumitomo Shoji Machinex kansai Co.,Ltd.(President, Shinji Yano) and Sumitomo Shoji Machinex Chubu Co.,Ltd.(President, Shigenobu Yamashita) as of 1 April, 2009.
Sumitomo Shoji Machinex Co.,Ltd. acquires and takes over the other two and the strategic unification ensures the sustainable growth of the company, by introducing commodity-oriented market strategy throughout the Japanese domestic market, in addition to the presently established stable profit basis in various local businesses such as plants, machinery & electric equipment, cyclo-drive, electronic part for steel, chemical, food, medical and construction industries.
Sumitomo Shoji Machinex Co.,Ltd. plays a main role of Industrial Infrastructure Business Line's widely expanded trades, mainly in domestic market which belongs to SC's Infrastructure Business Unit and drives forward SC's group management quality by leveraging integrated corporate strength with SC's domestic affiliate bases including Osaka and Nagoya.
Company Outline
| Before unification | After unification | |||
| Company name | Sumitomo Shoji Machinex Co.,Ltd. | Sumitomo Shoji Machinex Kansai Co.,Ltd. | Sumitomo Shoji Machinex Chubu Co.,Ltd. | Sumitomo Shoji Machinex Co.,Ltd. |
| Main Office | Chuo-ku, Tokyo Pref. | Chuo-ku, Osaka Pref. | Nagoya, Aichi Pref. | Chuo-ku, Tokyo Pref. |
| Capital | Yen 450 million | Yen 365 million | Yen 350 million | Yen 1,165 million(presumed) |
| Share-holder | 100% owned by SC | 100% owned by SC | 100% owned by SC | 100% owned by SC |
| Business field | Machinery & electric products' trades, mainly in Tokyo area | Machinery & electric products' trades, mainly in Osaka area | Machinery & electric products' trades, mainly in Nagoya area | Machinery & electric products' trades in Japanese domestic market |
| Turnover | Yen 38 billion | Yen 45 billion | Yen 8 billion | Yen 91 billion |
| Employee | 168 | 137 | 51 | 356 |
(Remarks)
・Above-mentioned sales turnover and number of employee before/after unification are the figures from those presumed in fiscal year ended March, 2009.
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