News Release(REVISED)Lawson and Three F Announce Simple Absorption-type Company Splits
TOKYO, JAPAN, 9 09, 2016
This revision relates to a portion of the information disclosed by Lawson, Inc. on August 4, 2016 in the news release entitled Lawson and Three F Announce Simple Absorption-type Company Splits. The revised information is underlined for easy identification.
1．Aim of the company splits
[Before]
- Under the terms of the business integration contract signed by Lawson and Three F on April 13, 2016, the two companies are set to establish a joint-venture company (Three F: 70%, Lawson: 30%) in September 2016 with the aim of operating “LAWSON THREE F” doubled-brand convenience stores in Chiba and Saitama prefectures in Eastern Japan. Company split No.1 is a pre-arranged company split designed to transfer a portion of the rights and obligations relating to THREE F’s convenience store operation. 87 stores currently operating under the THREE F brand will be systematically turned into double-brand stores, starting from September 2016.
[After]
- Under the terms of the business integration contract signed by Lawson and Three F on April 13, 2016, the two companies are set to establish a joint-venture company (Three F: 70%, Lawson: 30%) in September 2016 with the aim of operating “LAWSON THREE F” doubled-brand convenience stores in Chiba and Saitama prefectures in Eastern Japan. Company split No.1 is a pre-arranged company split designed to transfer a portion of the rights and obligations relating to THREE F’s convenience store operation. 86 stores currently operating under the THREE F brand will be systematically turned into double-brand stores, starting from September 2016.
2．Overview of company splits
[Before]
(3) Financial payments relating to the company splits
A cash payment of 2,954 million yen is scheduled to be transfered from Lawson to Three F in relation to company split No.1.
[After]
(3) Financial payments relating to the company splits
A cash payment of 2,920 million yen is scheduled to be transfered from Lawson to Three F in relation to company split No.1.
5．Summary of inherited business segments
[Before]
(1) Business operations of inherited segments
Company split No.1
A portion of rights and obligations relating to the convenience store operations of 87 stores
(3) Gross operating profit of approval division (2015.3.1 - 2016.2.29)
| Company split No.1 | 2,224 million of yen |
(4) Book value of share assets and liabilities
Company split No.1
(Millions of yen)
| Current assets | 16 | Current liabilities | - |
| Non-Current assets | 883 | Non-Current liabilities | 16 |
| Total assets | 900 | Total liabilities | 16 |
[After]
(1) Business operations of inherited segments
Company split No.1
A portion of rights and obligations relating to the convenience store operations of 86 stores
(3) Gross operating profit of approval division (2015.3.1 - 2016.2.29)
| Company split No.1 | 2,184 million of yen |
(4) Book value of share assets and liabilities
Company split No.1
(Millions of yen)
| Current assets | 16 | Current liabilities | - |
| Non-Current assets | 874 | Non-Current liabilities | 16 |
| Total assets | 891 | Total liabilities | 16 |
