Notice Concerning Postponement of Scheduled Merger of Toyo Aluminium K.K. and UACJ Foil Corporation

2023.02.27Press Release

Toyo Aluminium K.K. ("Toyo Aluminium"), UACJ Foil Corporation ("UACJ Foil") and JIC Capital, Ltd. ("JICC") have agreed to a business merger of Toyo Aluminium and UACJ Foil (collectively "Operating Companies") on an equal footing, as announced in "Notice concerning the conclusion of the Basic Integration Agreement for the merger of Toyo Aluminium K.K. and UACJ Foil Corporation" on August 31, 2022, in which JICC will acquire 80% of the voting stock of the new integrated company and the remaining 20% of the voting stock to be acquired by UACJ ("Management Integration"). Concerned parties, including the Operating Companies and JICC, and the parent companies of each of the Operating Companies, Nippon Light Metal Holdings Co., Ltd. ("NLM") and UACJ Corporation ("UACJ"), have been proceeding with preparations to execute Management Integration.

However, preparations for Management Integration is requiring more time due in part to procedures pursuant to the Antimonopoly Act; therefore, we hereby announce that we have decided to postpone the dates for the scheduled Management Integration. The new dates will be announced as soon as they are decided.

With no change to the original policy of the Management Integration, the Operating Companies will continue with preparations to accomplish Management Integration in a bid to establish a globally competitive aluminium foil manufacturer to further enhance the presence and corporate value of Japan's aluminium foil industry.

Current schedule
After change

Date of execution of share transfer
(NLM and JICC)

March 31, 2023 (planned)
To be decided

Date of execution of share buyback
(Toyo Aluminium and NLM; UACJ Foil and UACJ)

March 31, 2023 (planned)
To be decided

Effective date of merger
(Toyo Aluminium and UACJ Foil)

April 1, 2023 (planned)
To be decided