Japan Airport Terminal, Sojitz, and JALUX Form Alliance
OREANDA-NEWS. August 18, 2011. Japan Airport Terminal Co. Ltd.(JATCO), Sojitz Corporation(Sojitz), and JALUX Inc.(JALUX) reached agreement on the formation of a business alliance in the airport retail business. Details of the alliance are set forth below.
1. Background to the
The Japan Airport Terminal Group (JATCO and its affiliates) constructed and currently manages and operates the domestic passenger terminal at Tokyo International Airport at Haneda and as the leading shareholder of Tokyo International Air Terminal Corporation, the company that manages the international passenger terminal that opened in October 2010, provides key operational services in the international passenger terminal building. The Group also conducts merchandise sales at
Sojitz is a general trading company with more than 50 years of experience in the aviation industry and possesses diverse networks and expertise in areas such as machinery, energy resources, chemicals, and consumer lifestyle products in
JALUX was established in March 1962 as a trading and logistics subsidiary of Japan Airlines and since then has conducted business in a wide range of fields from the retail business including airport shop operation and mail-order sales to the food and beverage business with a focus on aviation services. In the airport shop business, JALUX operates through a subsidiary a network of 85 Blue Sky shops and duty free shops in 24 airports in
JATCO and JALUX operate similar range of businesses, such as merchandise sales and food and beverage businesses in the Haneda Airport Domestic Terminal 1. The two companies concluded the business partnership agreement with the objective of cooperating to supply services and products that provide more satisfaction to customers who use
2. Details of the
1. |
Details of the Business | ||||||||||
a. |
JATCO and JALUX plan to conduct detailed discussions concerning business alliances and implement cooperative operations in the following domains. | ||||||||||
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1) |
Enhancement of product lineups and services to evoke customer satisfaction in the airport shop operation business and strengthening of terminal building security measures. | |||||||||
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2) |
Joint procurement of products. | |||||||||
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3) |
Joint production of prepared packaged foods such as Sora-ben.* | |||||||||
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4) |
Mail-order and online sales of products. | |||||||||
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5) |
Cooperation in the real estate business in the vicinity of | |||||||||
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6) |
Sharing management resources and information relating to overseas business development. | |||||||||
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7) |
Other items that JATCO and JALUX agree on separately. | |||||||||
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* |
With respect to item 3, refer to the announcement concerning agreement on the establishment of a joint venture released today by JATCO and JALUX. | ||||||||||
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b. |
JATCO and Sojitz plan to conduct detailed discussions concerning business alliances and to implement cooperative operations in the following domains. | ||||||||||
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1. |
Promotion of the airport retail business to make commercial facilities at | |||||||||
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2. |
Promotion of the overseas airport retail business. | |||||||||
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2. |
Details of the Capital | ||||||||||
a. |
Acquisition of JALUX shares by JATCO | ||||||||||
b. |
Acquisition of JATCO shares by Sojitz | ||||||||||
3. Overview of the Parties to the Business |
As of March 31, 2011 | ||||||||||
1 |
Name |
Japan Airport Terminal Co., Ltd. |
Sojitz Corporation |
JALUX Inc. | |||||||
2 |
Head Office |
Terminal 1 Building |
1-20, Akasaka 6-chome, Minato-ku, |
32-42, Higashi-shinagawa 3-chome, Shinagawa-ku, | |||||||
3 |
Representative |
Isao Takashiro, President & CEO |
Yutaka Kase, President & CEO |
Akinobu Yokoo, President & CEO | |||||||
4 |
Business Activities |
Construction, management, and operation of the Merchandise sales Other service businesses |
- Business activities in the following fields as a general trading company: |
- Wholesale distribution (trading and logistics) | |||||||
5 |
Capitalization |
17,489million yen |
160,339 million yen |
2,558 million yen | |||||||
6 |
Established |
July 20, 1953 |
April 1, 2003 |
March 28, 1962 | |||||||
7 |
Main shareholders and holdings |
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Japan Trustee Services Bank: 11.33% |
Sojitz: 30.12% | |||||||
* Japan Airlines International Co., Ltd. changed its name to Japan Airlines Co., Ltd. on April 1, 2011
* The shareholdings indicated in item 7 exclude treasury shares from the total number of shares outstanding.
4. Overview of the Parties to the Business
August 3, 2011 |
Conclusion of business alliance agreement by JATCO and JALUX |
August 22, 2011 |
Acquisition of JALUX common stock byJATCO(planned) |
5. Future Outlook
If any impact on financial performance as a result of the business alliance is expected, the companies involved will make timely announcements.
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