Minebea will provide, for the time being, continuous support with Actus for further business development. The transfer of Actus shares will be in line of Minebea's business strategy to return to its core manufacturing business and will contribute to the intension of management resources and financial improvement of the Minebea Group.Ī Purchase Agreement is scheduled to be signed in the middle of February, and in the meantime due diligence will be conducted and conditions such as share transfer price will be decided.Īdvantage will aim at establishing a superior furniture business while considering the continuation of previous Actus management policy. Taking into consideration that the Actus trademark being further recognized in the market, and expecting business expansion, improvement in business results, and favourable results for the employees of Actus, it was decided at the Minebea Board of Directors Meeting held today to transfer all the Minebea owned shares in Actus to Advantage and entered into an Interim Agreement, allowing Advantage, which has the firm future vision and rich financial resources, to take over Actus. Minebea has strongly supported Actus in finance and in management, which has brought favorable business results for the past few years. Advantage, based on their unique investment plan, will be pursuing the strategy to enhance the scope and size of Actus business. Registered head office in Shimo-Meguro, Meguro-ku, Tokyo, Japan, President : Masahito Saigusa) to the Investment Fund run jointly by Advantage and Marubeni Corp.Īctus, established in 1981 as Minebea's furniture business division, currently engages in the sales and contract business of furniture and interior at six stores domestically and enjoys steady business as Minebea's subsidiary.Īdvantage has two private equity investment funds, MBI Fund I and MBI Fund II under management, making various types of investments, such as taking over large corporations' divisions or subsidiaries, and has already made investments in various businesses.
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Folsom), have basically agreed that Minebea will transfer all the shares in its 100% owned furniture business subsidiary Actus Corporation (hereinafter called "Actus". Registered head office in Uchisaiwai-cho, Chiyoda-ku, Tokyo, Japan, Representative Partner : Taisuke Sasanuma, Richard L.
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Registered head office in Miyota-machi, Kitasaku-gun, Nagano, Japan, President : Tsugio Yamamoto), and Advantage Partners, Inc. Minebea transfers shares in their furniture business to the investment fund, run jointly by Advantage Partners, Inc.