{"id":469355,"date":"2021-04-01T03:17:10","date_gmt":"2021-04-01T07:17:10","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=469355"},"modified":"2021-04-01T03:17:10","modified_gmt":"2021-04-01T07:17:10","slug":"notice-regarding-acquisition-of-shares-in-ptc-system-s-pte-ltd-as-a-new-subsidiary","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/notice-regarding-acquisition-of-shares-in-ptc-system-s-pte-ltd-as-a-new-subsidiary\/","title":{"rendered":"Notice Regarding Acquisition of Shares in PTC SYSTEM (S) PTE LTD (as a New Subsidiary)"},"content":{"rendered":"<div class=\"mw_release\">\n<p>TOKYO, April  01, 2021  (GLOBE NEWSWIRE) &#8212; Internet Initiative Japan Inc. (\u201cIIJ\u201d, TSE1: 3774) announced that IIJ acquired all the shares of PTC SYSTEM (S) PTE LTD (\u201cPTC\u201d), which mainly operates systems integration business in Singapore, on April 1, 2021. Although this case does not fall under the criteria for timely disclosure, it is judged as useful information and is disclosed voluntarily.<\/p>\n<p align=\"left\">1. Reasons for acquisition of shares<br \/>IIJ Group has been exploring its global business with various IT services and systems integration in 11 major cities in 8 countries around the world to meet IT systems demands of Japanese companies heading overseas to seek business opportunities as well as local companies. As Singapore is considered as a leader in the ASEAN region in the IT field, IIJ Group has been planning to strengthen its Singapore business as the core of ASEAN business.<\/p>\n<p>PTC has strong relationships with blue-chip customers and leading IT partners and provides high quality solutions such as storage and server-related systems integration in Singapore, under strong leadership of PTC\u2019s management.<\/p>\n<p>By acquiring all the shares of PTC to be a wholly owned subsidiary, IIJ Group expects to significantly expand its business and strengthen its capabilities in providing services and solutions in the ASEAN region. In addition, PTC\u2019s management has agreed to continue to serve as they have before. Under their strong leadership, PTC shall continue to grow its business and contribute to increase the corporate value of IIJ Group.<\/p>\n<table style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:40%;width:40%;min-width:40%;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;vertical-align: bottom\">2. Profile of the subsidiary subject to the change<\/td>\n<td style=\"max-width:60%;width:60%;min-width:60%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">(As of March 31, 2021)\u00a0\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: bottom\">(1) Name<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">PTC SYSTEM (S) PTE LTD<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: bottom\">(2) Address<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">Jackson Design Hub 29 Tai Seng Street #04-01, Singapore<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: bottom\">(3) Name of representative and title<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">Lim See Seng, Managing Director<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: bottom\">(4) Main Business<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">Systems integration<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: bottom\">(5) Capital stock<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">SGD2 million (Singapore dollar: \u201cSGD\u201d)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: bottom\">(6) Date of establishment<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">June 18, 1991<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: bottom\">(7) Relationship of the relevant companies<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">Capital, Personnel and Business relationship: Not applicable<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: bottom\">(8) Business performance in the most recent preceding fiscal year<\/p>\n<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">Sales: SGD100.4 million, Profit before tax: SGD5.1 million<br \/>(For the fiscal year ended December 31, 2020, preliminary and unaudited)<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">\n        <br \/>3. Outline of the transferors<br \/>The description about the transferors of the shares in this acquisition is omitted because they are individuals. IIJ has not had any major capital, personnel or business relationship with these individual shareholders before this transaction. In addition, these individual shareholders are not the related parties of IIJ.<\/p>\n<p align=\"justify\">4. Number of shares to be acquired, status of shares held before and after the acquisition and acquisition price<\/p>\n<table style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:40%;width:40%;min-width:40%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: top\">(1) Number of shares held before the change<\/td>\n<td style=\"max-width:60%;width:60%;min-width:60%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">0 shares (Number of voting rights: 0, Shareholding ratio: 0%)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: top\">(2) Number of shares to be acquired<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">2,000,000 shares (Number of voting rights: 2,000,000)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: top\">(3) Number of shares held after the change<\/td>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: middle\">2,000,000 shares (Number of voting rights: 2,000,000, Shareholding ratio: 100%)<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">(Note) The acquisition price is SGD44 million, which is calculated and decided based on due diligence conducted and third-party valuation report, etc.<\/p>\n<p align=\"justify\">5. Schedule<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:40%;width:40%;min-width:40%;text-align: left;vertical-align: middle;vertical-align: top\">(1) Date of board of directors meeting resolution<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: center;vertical-align: middle;vertical-align: top\">\uff1a<\/td>\n<td style=\"max-width:59%;width:59%;min-width:59%;text-align: left;vertical-align: middle;vertical-align: top\">March 23, 2021<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: top\">(2) Date of concluding the contract<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">\uff1a<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: top\">March 23, 2021<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">(3) Date of share acquisition<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">\uff1a<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: top\">April 1, 2021<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">6. Business forecasts<br \/>PTC became a consolidated subsidiary of IIJ on April 1, 2021, therefore, it will be included in IIJ\u2019s consolidated financial statements from the first quarter of the fiscal year ending March 31, 2022.<\/p>\n<p align=\"justify\">\n        <strong>About Internet Initiative Japan Inc.<br \/><\/strong>Founded in 1992, IIJ is one of Japan&#8217;s leading Internet-access and comprehensive network solutions providers. IIJ and its group companies provide total network solutions that mainly cater to high-end corporate customers. IIJ&#8217;s services include high-quality Internet connectivity services, mobile services, security services, cloud computing services, and systems integration. Moreover, IIJ operates one of the largest Internet backbone networks in Japan that is connected to the United States, the United Kingdom and Asia. IIJ listed on the First Section of the Tokyo Stock Exchange in 2006.<\/p>\n<p align=\"justify\">\n        <strong>For inquiries, contact:<\/strong><br \/>\n        <br \/>IIJ Investor Relations\u3000Tel: +81-3-5205-6500 E-mail: ir@iij.ad.jp URL: https:\/\/www.iij.ad.jp\/en\/ir\u00a0<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMDA1OSM0MDk5NDYzIzIwMjcwMjI=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/eab5d449-2209-4635-8bf9-bcc24ad61971\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>TOKYO, April 01, 2021 (GLOBE NEWSWIRE) &#8212; Internet Initiative Japan Inc. (\u201cIIJ\u201d, TSE1: 3774) announced that IIJ acquired all the shares of PTC SYSTEM (S) PTE LTD (\u201cPTC\u201d), which mainly operates systems integration business in Singapore, on April 1, 2021. Although this case does not fall under the criteria for timely disclosure, it is judged as useful information and is disclosed voluntarily. 1. Reasons for acquisition of sharesIIJ Group has been exploring its global business with various IT services and systems integration in 11 major cities in 8 countries around the world to meet IT systems demands of Japanese companies heading overseas to seek business opportunities as well as local companies. As Singapore is considered as a leader in the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/notice-regarding-acquisition-of-shares-in-ptc-system-s-pte-ltd-as-a-new-subsidiary\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Notice Regarding Acquisition of Shares in PTC SYSTEM (S) PTE LTD (as a New Subsidiary)&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-469355","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Notice Regarding Acquisition of Shares in PTC SYSTEM (S) PTE LTD (as a New Subsidiary) - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/notice-regarding-acquisition-of-shares-in-ptc-system-s-pte-ltd-as-a-new-subsidiary\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Notice Regarding Acquisition of Shares in PTC SYSTEM (S) PTE LTD (as a New Subsidiary) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"TOKYO, April 01, 2021 (GLOBE NEWSWIRE) &#8212; Internet Initiative Japan Inc. (\u201cIIJ\u201d, TSE1: 3774) announced that IIJ acquired all the shares of PTC SYSTEM (S) PTE LTD (\u201cPTC\u201d), which mainly operates systems integration business in Singapore, on April 1, 2021. Although this case does not fall under the criteria for timely disclosure, it is judged as useful information and is disclosed voluntarily. 1. Reasons for acquisition of sharesIIJ Group has been exploring its global business with various IT services and systems integration in 11 major cities in 8 countries around the world to meet IT systems demands of Japanese companies heading overseas to seek business opportunities as well as local companies. 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(\u201cIIJ\u201d, TSE1: 3774) announced that IIJ acquired all the shares of PTC SYSTEM (S) PTE LTD (\u201cPTC\u201d), which mainly operates systems integration business in Singapore, on April 1, 2021. Although this case does not fall under the criteria for timely disclosure, it is judged as useful information and is disclosed voluntarily. 1. Reasons for acquisition of sharesIIJ Group has been exploring its global business with various IT services and systems integration in 11 major cities in 8 countries around the world to meet IT systems demands of Japanese companies heading overseas to seek business opportunities as well as local companies. 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