2011/4/28 Regarding acquisition of shares of HCM K.K.
This is to announce that, through our wholly managed and operated J-STAR Number One Investment Limited Partnership, we have established HCM Holding K.K. ("HCMHD"). We also announce that on April 26, 2011, HCMHD acquired the majority shares of HCM K.K. (Headquarters: Tokyo, CEO: Akitoshi Yamazaki, http://www.hc-m.jp/eng/, "HCM").
HCM was founded in 2002 as a provider of in-home nursing care. Today, its business is comprised of three pillars: "Amica" providing in-home care, "Amica Villa" providing nursery home services and "Aiuto" providing housekeeping services. These cater to seniors under the motto of, "Delivering a lifestyle of freedom, abundance, and fun." HCM employs 1,245 people (including temporary staff) across 62 in-home locations and 1 nursing care facility and has served over 100,000 people.
HCMHD has acquired shares in HCM previously owned by financial institutions as well as non-employee shareholders. As a result of this recent investment, existing management and employee shareholders will see their share of the business increase. Our investment stems from the belief that reorganizing the shareholder composition will make a strong contribution to further business development at HCM.
In addition to expanding its existing in-home and facility-based care services, HCM plans to develop strategies for new businesses aimed at seniors. They are also seriously considering expansion through M&A with other nursing care operators and business development overseas as well. Accompanying this share acquisition, we will provide strong support for business expansion at HCM.
In approaching this investment, we have enlisted Due Diligence Corporaton for financial and tax-related due diligence, Liaison Partners, Inc. for business due diligence and, as a legal advisor, Baker & McKenzie GJBJ Tokyo Aoyama Aoki Koma Law Office (Gaikokuho Joint Enterprise) for legal due diligence. Their office has also provided advice regarding the contract terms and structure of this investment. In addition, financing for this share acquisition is being arranged by Aozora Bank.
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