Nov. 14, 2019
Management Integration Determined and Business Merger Agreement Concluded for AW Suzhou Technical Center and AW Hangzhou Software Development
Aisin AW Co., Ltd. (hereinafter, “AW”) and its consolidated subsidiaries, AW Suzhou Technical Center Co., Ltd. (Head Office: Suzhou, Jiangsu, China; President: Muneo Kusafuka; hereinafter, "AWTC-C") and AW Hangzhou Software Development Co., Ltd. (Head Office: Hangzhou, Zhejiang, China; President: Hideki Aruga; hereinafter, "AWH"), has reached an agreement to carry out management integration of AWTC-C and AWH, and the business merger agreement between the two companies has been concluded.
The management integration of AWTC-C and AWH is intended to accelerate development and improve customer satisfaction by unifying powertrain engineering development and onboard software design activities.
The AW Group will make a united effort to flexibly respond to changing social needs, thereby further strengthening competitiveness.
(1) Schedule of management integration
|Conclusion date of business merger agreement (AWTC-C and AWH)||November 8, 2019|
|Effective date||October 2020 (scheduled)|
* AWH's business is planned to be transferred to the AWTC-C Hangzhou Office, which will start operation in April 2020.
(2) Method of management integration
A merger is planned with AWH being dissolved and AWTC-C becoming the surviving company. It is also planned that AWTC-C's shares will be allotted as a consideration to Aisin AW, a shareholder of AWH.
(3) Overview of AWTC-C after integration
|Company name||AW Suzhou Technical Center Co., Ltd.|
|Location of Head Office||No. 492 Middle Suhong Road, Suzhou Industrial Park, Suzhou, Jiangsu, China|
|Established||October 31, 2012|
|Capital||USD 13.93 million|
|Shareholders||Aisin AW Co., Ltd.: 72%
AW China Co., Ltd.: 28%
|Representative||President: Muneo Kusafuka|
|Number of employees||Approx. 150 (as of October 2020, scheduled)|
|Business description||Contract design, evaluation and development of powertrains and onboard software; and technical support related to the above, and the investigation & collection of technical information|
(Reference) Profiles of the two companies being integrated
|Company name||AW Suzhou Technical Center Co., Ltd. (AWTC-C)||AW Hangzhou Software Development Co., Ltd. (AWH)|
|Location of Head Office||No. 492 Middle Suhong Road, Suzhou Industrial Park, Suzhou, Jiangsu, China||No. 590 Changhe Road, BinJiang area, Hangzhou, Zhejiang, China|
|Established||October 2012||December 2008|
|Capital||USD 13 million||JPY 100 million (USD 0.93 million)|
|Representative||President: Muneo Kusafuka||President: Hideki Aruga|
|Number of employees||Approx. 100 (as of March 31, 2019)||Approx. 50 (as of March 31, 2019)|
|Business description||Contract design, evaluation and development of powertrains; and technical support related to the above, and the investigation & collection of technical information||Contract design, evaluation, and development of onboard software|