This is to announce the merger of Nissho Iwai Corporation and Nichimen Corporation,
effective as of 1st April,2004.
The new organization will be called “Sojitz Corporation(日株式社)”.
Through the merger, the new Sojitz Corporation will work to improve profitability by
enhancing collective strengths and pursuing business synergies. At the same time, we
Will reinforce operating and financial strength by securing flexibility through increased
business reorganization rationalization and by promoting management efficiency to become an innovative and functional trading company.
The company of Nissho Iwai Korea Corporation (NIKC), its affiliate of Nissho Iwai Corporation will also change the name to Sojitz Korea Corporation on the date of 1st April,2004.
Sojitz Korea Corporation
MASAHIRO NAKAHIRA
Nissho iwai corp and nichimen corp, management consolidation.
TO. WHOM IT MAY CONCERN
This is to announce the Agreement on Basic Conditions for Management
Consolidation of Nichimen Corporation and Nissho Iwai.
And, the attached letter herein was prepared as a notice on this regard by
our President & CEO,Mr.Hidetoshi Nishimura.
I take this opportunity to solicit the continued supports and cooperations
of the Clients for NIKC accordingly.
Yours faithfully,
Nissho Iwai Korea Corporation
MASAHIRO NAKAHIRA
President & CEO
To our valued shareholders, customers & suppliers
This is to inform you that Nissho Iwai Corporation and Nichimen Corporation
(Nichimen) have reached a basic agreement to establish a joint holding company to consolidate their operations and management, subject to shareholders' and regulatory approval.
As trading companies, our mission in the business world is to promote industrial
growth on a global scale through the development of new business areas, supporting our customers' overseas activities, provision of finance functions, and incubating and promoting new enterprise which have growth potential, ultimately contributing to the growth of the global community.
To fulfil such our pledge, we have been continuously endeavoring to reform and
innovate our functions. However, in my view, the rapidly changing economic and
business environment requires more effort than can be handled by us on our own, in order to cope with and satisfy our customers' and business partners' needs.
Consequently, it would be much more appropriate to make the required efforts with a strong partner, in order to strengthen our functions and operations. This had led us to our decision to consolidate our operation with Nichimen, whose president's view are very similar to this issue.
In view of our already implemented alliances in IT, Plastic, Chemicals and Real
Estate sectors with Nichimen, we are confident of the smooth consolidation of the operation both companies without any hindrance to your business with us even during the consolidation process.
I assure you that new company armed with the existing strength in both companies' respective business areas, along with the new synergy arising out of the consolidation, will prove to be a much more valuable business partners than ever before.
You can expect;
¡¤ A highly versatile trading company, which can rapidly respond to your needs
and to economic and environmental changes.
¡¤ Evolution from "business guide" to "business partner" with excellent business
foresight and highly focused strategy.
¡¤ A trading company which will face the challenges of the global
market(including emerging markets) with you, and contribute to your growth
as a committed business partner.
I solicit continued support for us from each and every one of you.
日株式
社)”.