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Corporation
nito.co.jp

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Investments

1

About NITTO KOGYO

NITTO KOGYO (日東工業) (TYO: 6651) focuses on the manufacture and sales of electric and mechanical equipments such as high-voltage power receiving equipment, panel boards, home panel boards, charging stations, optical boxes, metal enclosures, plastic enclosures, system racks, breakers, switches, thermal management products, and more.

NITTO KOGYO Headquarter Location

2201 Kanihara

Nagakute, 480-1189,

Japan

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Latest NITTO KOGYO News

Singapore: Natural Cool to sell Gathergates to Japan’s Nitto Kogyo for $24m

Sep 17, 2015

Google Singapore-based  Natural Cool Holdings Limited has divested its stake in wholly-owned switchgear making subsidiary Gathergates Group to Japan’s Nitto Kogyo Corporation for a cash consideration of S$33.88 million (US$24.1 million). The deal will allow Natural Cool to consolidate its core businesses and use the capital to pursue other opportunistic investments. Nitto Kogyo will be purchasing 3,780,001 ordinary share in the investment holding firm, which represents 100 per cent of the issued share capital of Gathergates Group, whose products are sold under the brand “Gathergates”. Nitto Kogyo– which deals with design, manufacturing and distribution of switchboard and controlling boards–is a public company listed on the Tokyo Stock Exchange and Nagoya Stock Exchange. The proposed asset disposal, according to a filing is “…at a premium of approximately S$15.1 million (US$10.7 million) over the unaudited net asset value of the Target Group as at 30 June 2015, represents a good opportunity for the Company to unlock the value of the assets in the Target Group in cash and strengthen its financial and capital resources.” Also Read:  Core of strategy is clarity of purpose: Jamie Camidge, muru-D With an issued share capital of S$3,780,001, the investment holding company has stakes in various firms operating in Singapore, Malaysia and India. Gateway Capital Group  introduced the two firms for this deal and will be receiving an introducer’s fee of S$788,000. Following the deal, Natural Cool is expecting a net gain of approximately S$14.9 million ($10.65 million) after deducting the net asset value, professional fees, introducer Fee and disposal fees. This deal will allow Natural Cool to consolidate its units, with its remaining businesses including its air-conditioning business division and paint manufacturing unit. The estimated net proceeds are estimated at S$32.9 million ($23.5 million), accounting for the introducer’s fee and professional fees. This capital will be deployed for general working capital purposes as well as other opportunistic investments. The consideration was arrived at on a willing buyer willing seller basis after arm’s length negotiations, accounting for the unaudited net asset value and profit post-tax of Gathergates of approximately S$18.8 million ($13.4 million) and S$0.6 million ($428,000) respectively for the six month financial period ended 30 June 2015.

NITTO KOGYO Investments

1 Investments

NITTO KOGYO has made 1 investments. Their latest investment was in Digital Grid as part of their Corporate Minority - IV on December 12, 2018.

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NITTO KOGYO Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

12/25/2018

Corporate Minority - IV

Digital Grid

Yes

3

Date

12/25/2018

Round

Corporate Minority - IV

Company

Digital Grid

Amount

New?

Yes

Co-Investors

Sources

3

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