Nichirei announced on November 18 that its group company, Nichirei Logi Group, has resolved to increase the capital of its subsidiary, NL COLD CHAIN NETWORK (M) SDN. BHD. (including an in-kind contribution of shares of NL Litt Tatt Group Sdn. Bhd. held by Nichirei Logi Group), and to increase the capital of its grandchild company, NL Litt Tatt Group Sdn. Bhd.
Nichirei Logistics Group has traditionally operated a cold chain logistics business in ASEAN, and in order to further expand its market share and provide high value-added services, it will raise capital to secure the necessary funds to build a cross-border transportation network within the region and strengthen its delivery network.
As a result, the capital of the subsidiary and sub-subsidiary in question will be equivalent to 10% or more of the company's capital, and therefore these two companies will be classified as specified subsidiaries of the company.
■ Subsidiary to be transferred
Name: NL COLD CHAIN NETWORK (M) SDN. BHD.
Address: No. 3, Jalan Perindustrian Puchong Bandar Metro
Puchong, 47160 Puchong Selangor, MALAYSIA
Business activities: Refrigerated and frozen warehousing business, transportation and delivery business
Capital: (Before capital increase) 6238 million Malaysian Ringgit (2.291 billion Japanese Yen)
(After capital increase) 307.47 million Malaysian Ringgit (11.293 billion Yen) (planned)
Date of establishment: August 2002
Ownership ratio: Nichirei Logistics Group Headquarters 100%
Sales revenue for the fiscal year ending December 2024: 41,028,000 Malaysian Ringgit; operating profit: 4,657,000 Malaysian Ringgit; net profit: 4,483,000 Malaysian Ringgit.
Name: NL Litt Tatt Group Sdn. Bhd.
Address: No. 9, Jalan Laksamana 1A/KS7, Taman Sentosa, 41200,
Klang, Selangor
Business activities: Holding company for refrigerated and frozen warehousing and transportation businesses.
Capital: (Before capital increase) 84,552,000 Malaysian Ringgit (3.106 billion yen)
(After capital increase) 239,739,000 Malaysian Ringgit (8.806 billion yen) (planned)
Date of establishment: August 2022
Investment ratio: NL COLD CHAIN NETWORK (M) SDN. BHD. 49%
Sales for the fiscal year ending December 2024: -, operating loss of 37,000 ringgit, net profit of 463,000 ringgit.
