Nagano, Japan (June 10, 2016)
Mimaki Engineering Co., Ltd. (President: Kazuaki Ikeda, Headquarters: Nagano, Japan, hereinafter called “MIMAKI”) announces that its consolidated subsidiary, Mimaki Europe B.V. (President: Koji Shimizu), has concluded the final agreement on purchasing all stocks of an Italian company La Meccanica Costruzione Tessili-S.P.A. (hereinafter called “La Meccanica”) as we have already announced the basic agreement on December 16, 2015.
1. Objectives of Stock Acquisition
La Meccanica, a well-recognized manufacturer of the textile inkjet printer, is located in Italy, and it develops, manufactures and sells mainly high-end models.
Since Mimaki group has been mainly developing entry/mid-level models, we believe that this stock acquisition will broaden a range of textile inkjet printer models from entry to high-end models by leverage from La Meccanica’s inkjet technologies. An expanded product range will allow us to provide small and large lot production models that satisfy production demands in a textile and apparel (TA) industry and market.
We aim to increase the sales of TA product to 20 billion Japanese yen in the medium- and long-term and accordingly this stock purchase is an important factor.
In order to become a true global company, we are planning to establish a developing/manufacturing base in Europe which is the fashion capital of the world and has a large textile market, and expand digital on-demand textile printing to the industry while digging deeply into the market demand.
2. Outline of Transferor (La Meccanica)
| （1） | Company name | La Meccanica Costruzione Tessili-S.P.A. |
| （2） | Main business | 1) Manufacturing, marketing, and servicing devices for digital printing 2) Inspecting textiles, and manufacturing, marketing, and servicing packing machines. |
| （3） | Year of foundation | 1977 |
| （4） | Location | Via Delle Industrie174CAP24059 Urgnano(Bergamo) Italia |
| （5） | Representative | Paolino Gastoldi, President |
| （6） | Capital | 517,000 Euro |
| （7） | Number of employees | 32 |
| （8） | Major shareholder and ratio | Representative's family 100% |
| （9） | Relation to MIMAKI Group | No financial, business, and personal relations |
3. Number of shares to be transferred, acquisition cost and share ownership prior to and after transfer
| （1） | Number of shares owned prior to transfer | 0 (Ratio of ownership voting rights: 0 %) |
| （2） | Number of shares to be transferred | 517,000 |
| （3） | Acquisition cost | Under the agreement with a transferor, the cost is undisclosed. |
| （4） | Number of shares owned after transfer | 517,000 (Ratio of ownership voting rights: 100 %) |
4. Schedule
- Execution of the stock purchase agreement
- June 7, 2016
- Date of Stock transfer (Schedule)
- October 31, 2016 (plan)
5. Outlook
The impact caused by this purchase on the consolidated business results is negligible and there is no change in the projected performance of MIMAKI Group for the time being.
About MIMAKI
MIMAKI is a leading manufacturer of wide-format inkjet printers and cutting machines for the Sign Graphics, Industrial Product and Textile & Apparel markets. MIMAKI develops the complete product range for each group; hardware, software and the associated consumable items, such as inks and cutting blades. MIMAKI excels in offering innovative, high quality and high reliability products, based upon its aqueous, solvent, UV-curable and textile inkjet technology. In order to meet a wide range of applications in the market, MIMAKI pursues the development of advanced on-demand digital printing solutions. Mimaki Engineering Co. Ltd., (President: Kazuaki Ikeda) Nagano (Japan), is publicly listed on Tokyo Stock Exchange First Section.