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FamilyMart’s largest shareholder ITOCHU Corporation purchased additional shares of FamilyMart in order to further strengthen the relationship between the two companies

Tokyo, 2014-7-9 — /EPR Retail News/ — Notice is hereby provided that on July 4, 2014, FamilyMart received notification from its largest shareholder, ITOCHU Corporation, that ITOCHU had decided to purchase additional shares of FamilyMart in order to further strengthen the relationship between the two companies.

1. Overview of additional share purchase

(1) Period of purchase: July 7, 2014 to March 31, 2015

(2) Number of shares to be purchased: 5,070,300 shares

(3) Percentage of total voting rights associated with shares to be purchased: 5.35%

2. FamilyMart’s Opinion of the Additional Purchase of Its Shares

FamilyMart and its largest shareholder, ITOCHU, have established a cooperative relationship through such activities as joint product development, store development, overseas business development, and dispatching of human resources. The two companies have developed a mutual understanding of each other’s business and a strong relationship of trust. As a result of discussions between the two companies, and following consideration and examination of the Basic Policy Regarding the Control of Kabushiki Kaisha(joint stock corporations), at a meeting held today, the Board of Directors approved a resolution to support the further strengthening of the relationship between the two companies through the purchase by ITOCHU of additional FamilyMart shares.

The two companies have agreed on the following specific initiatives to further strengthen their relationship. (1) By the end of March 2015, ITOCHU will increase its share of FamilyMart voting rights from the current level of 31.7% (direct, 31.6%; indirect, 0.1%; as of February 28, 2014) to 37%. (2) In FamilyMart’s domestic convenience store operations, business and logistics transactions with the ITOCHU Group will be fundamentally reevaluated and steps will be taken to expand FamilyMart’s earnings from the viewpoint of overall optimization. (3) In FamilyMart’s overseas convenience store operations, to strengthen competitiveness in existing and new regions, investment in logistics infrastructure operations will be bolstered. (4) In new businesses, steps will be taken to expand Internet and financial services businesses.

In the future, based on its strong relationship of trust with ITOCHU, FamilyMart will work to increase returns for stakeholders, including shareholders, franchisees, and suppliers. FamilyMart would like to ask for the continued understanding and support of its stakeholders.

Reference: Overview of Purchaser of Shares

(1) Name of purchaser: ITOCHU Corporation
(2) Location of purchaser: 5-1, Kita-Aoyama 2-chome, Minato-ku, Tokyo
(3) Name of representative: Masahiro Okafuji, President & Chief Executive Officer
(4) Contact: ITOCHU Corporation, Corporate Communications Division 5-1, Kita-Aoyama 2-chome, Minato-ku, Tokyo TEL 03-3497-7291
(5) Purchase of FamilyMart’s shares will be made on the market until the shareholding ratio, including shares currently held, reaches 37% (after exclusion of treasury stock).
* Current number of shares held (as of February 28, 2014): 29,941,200 shares (shareholding ratio: 30.65%)

EPR Retail News