Notice regarding the establishment of a joint venture company in Italy

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Posted on: June 15, 2017

Filed under: News Press releases

Nagano, Japan (June 13, 2017)

At the Board of Directors meeting held on June 13, 2017, MIMAKI EUROPE BV (Yuji Ikeda, President), a consolidated subsidiary of our company, resolved to establish a joint venture company with Italian BOMPAN S.r.l (hereinafter referred to as “BOMPAN”).The announcement is as follows.

Purpose of the joint venture company
Our group company recognizes that it is essential to encourage the expansion of digital printing in the textile and apparel market (hereinafter referred to as the “TA market”) for sustainable growth in the future. To do so, it is necessary to rebuild the regional sales network and service structure of the TA market. The establishment of this joint venture company is part of this.

The joint venture partner BOMPAN is a leading distributor in Italy, and has established a strong relationship of trust with our group company through a business relationship over many years. At this time, we intend to establish a joint venture company with BOMPAN in order to expand sales of products for the TA market primarily in EU member countries. With this newly established joint venture company, we will offer total solutions, including pre-processing to post-processing, as a specialized group dedicated to the TA market, and will promote digitalization of the TA market.

The majority of the capital structure of the joint venture company (51.0%) and the majority of the directors, including the president, will be maintained by our company. We will lead development of the joint venture business.

Outline of the joint venture company

Legal name Mimaki Bompan Textile S.r.l
Location Tradate (VA), Italy
Representative
Chairman
Director
Hirokazu Hayashi
CEO Massimo Bompan
Sakae Sagane
Business Sales and maintenance services for ink jet printers, cutting plotters, and related consumables (inks, etc.)
Established Last third of June 2017 (tentative)
Capital Capital: 3.612 million Euros (433 million Yen)
Investment ratio MIMAKI EUROPE B.V. 51.0% –  BOMPAN 49.0%

Note: As a reference, figures are given after converting with a rate of 1 Euro = 120 Yen.

Outline of joint venture partner

Legal name BOMPAN S.r.l
Location Tradate (VA), Italy
Representative Massimo Bompan
Business Machinery trading company
Established January 15, 1996
Capital 99,000 Euros (11 million Yen)
Relationship between listed company and the company concerned There are no relevant matters concerning capital, transaction, or personal relationships.

Note: As a reference, figures are given after converting with a rate of 1 Euro = 120 Yen.

Upcoming dates

Date of contract conclusion June 21, 2017 (tentative)
Establishment of joint venture company Last third of June 2017 (tentative)
Business start date July 2017 (tentative)



Future outlook
The impacts of this case on consolidated business results for this fiscal year are minor.