June 25, 2012
Increase of Capital in Kurita Water Industries (Suzhou) Ltd., a Subsidiary in China
Kurita Water Industries Ltd. (Head Office: Shinjuku-ku, Tokyo, President: Toshiyuki Nakai) announces that it has increased its equity stake in Kurita Water Industries (Suzhou) Ltd., a Chinese subsidiary engaged in the manufacture, sales, operation, and maintenance of water treatment facilities.
Through the capital increase, Kurita will bolster its ability to respond to local needs related to design, manufacture, and installation in projects for water treatment facilities intended for corporate customers in China. It will also establish a system for the operating maintenance business that is expected to grow in the future.
In China, along with the above subsidiary, the Kurita Group has also established Kurita Water Industries (Dalian) Co., Ltd., which manufactures and sells water treatment chemicals, and Kuritec (Shanghai) Co., Ltd., a maintenance and related parts sales company for water treatment facilities. The Group has consequently established a system of operating comprehensive water treatment business in the country. In addition, under the "Take Action 2014," the Medium-Term Management Plan that started in April this year, Kurita positions China as a priority market and has started to take steps to strengthen the link between its subsidiaries and affiliates in the country by assigning an Executive Officer overseeing China (Executive Officer Toshitaka Kodama of Kurita Water Industries, Ltd.).
With the above capital increase, Kurita will enhance its system of operating its water treatment facility business in China and will accelerate operation of the business by integrating it with the water treatment chemical business in that country. In doing so, Kurita will create new business opportunities and expand its solution business in China by taking advantage of its comprehensive strength in water treatment.
- Reason for the capital increase
Strengthening businesses of design, manufacture, installation, and maintenance of water treatment facilities in China
- Content of the capital increase
Amount of increase: 430 million yen
- Profile of the subsidiary subject to the capital increase
- Name of company
- : Kurita Water Industries (Suzhou) Ltd.
- : National Environmental New & Hi-tech Industrial Park No.31 & No.32, 369 Lushan Road, Suzhou New District, Jiangsu, PRC
- : Shinichi Takaso, President
- : May 2004
- Capital before the increase
- : 100 million yen
- Capital after the increase
- : 530 million yen
- : Kurita Water Industries, Ltd. (100%)
- No impact from this capital increase is anticipated on Kurita's consolidated financial forecasts for the fiscal year ending March 31, 2013.