Dec. 21, 2018
Merger Agreement Concluded with Aisin AI Co., Ltd.
We hereby announce that Aisin AW has today concluded a merger agreement for the management integration with Aisin AI Co., Ltd. (Headquarters: Nishio City, Aichi, President: Masayasu Saito, hereinafter “AI-A”) scheduled for April 2019.
On October 31, 2018, Aisin AW, Aisin Seiki Co., Ltd. (Headquarters: Kariya City, Aichi, President: Kiyotaka Ise, hereinafter “Aisin Seiki”) and AI-A signed a basic agreement on this merger, which formed the basis of the official agreement.
Consequently, the official agreement was approved at the extraordinary shareholders’ meeting held at both companies of Aisin AW and AI-A, and thus the merger agreement was officially concluded.
(1) Schedule of management integration
Date of extraordinary shareholders' meeting to approve merger agreement: December 21, 2018
Date of concluding official agreement: December 21, 2018
Agreement effective: April 1, 2019 (scheduled)
(2) Method of management integration
The two companies are scheduled to merge, with AW as the surviving company and AI-A to cease to exist. As a shareholder in AI-A, Aisin Seiki is to be allocated an equivalent value of common stock in AW.
Moving forward, the Aisin Group will continue working together as one to respond flexibly to the changing needs of society and further enhance our competitiveness.