Tokyo Stock Exchange News

SBM Offshore has nominated D.H.M. Wood as a member of the management board and chief financial officer (CFO) to replace current CFO, P.M. van Rossum, who is set to retire. The company will hold an Extraordinary General Meeting (EGM) on November 30, 2016 where it will be proposed that Wood be appointed as a member of the management board for a period of four years until the 2021 AGM. Van Rossum will then step down as management board member and CFO. Wood has worked at Royal Dutch Shell plc since 1993 in various financial and management positions, including as Vice President Finance & Planning Exploration (at Shell Upstream International) and most recently as CFO of Showa Shell Sekiyu K.K. in Japan, a company listed on the Tokyo Stock Exchange.

The NYK Group has been selected by Japan's Ministry of Economy, Trade and Industry (METI) and the Tokyo Stock Exchange (TSE) as a “Competitive IT Strategy Company” for 2016. NYK is the first company in the maritime industry to receive this award. This award recognizes NYK's appropriate internal governance of the planning, execution, and utilization of IT, in addition to the company’s active IT efforts. Since 2015, METI and TSE have assessed companies listed on the TSE for proactive IT implementation that creates management innovation, enhances profitability and productivity, and leads to increases in mid-to-long term corporate value and competitiveness.

Japan Radio Company (JRC) has announced the reaching of its 100-year anniversary in 2015. With the passing of the private radio law in Japan in June 1915, the company was founded in December of the same year as the Japan Radiotelegraph Manufacturing Company. Within year one the first product was developed, a radiotelegraph unit which was installed on a rescue vessel. It was not until the 1940s that the company changed its name to JRC, and today’s known logo came into effect, which is this year exactly 70 years old. In 1953 JRC was listed on the Tokyo Stock Exchange and the company continued to be heavily involved in unique and challenging projects.

NYK was named “Nadeshiko Brand,” for the second consecutive year, following fiscal 2013, selected jointly by the Tokyo Stock Exchange (TSE) and the Ministry of Economy, Trade and Industry of Japan (METI). Nadeshiko Brand is composed of companies that encourage women’s success in the workplace, including the development of environments in which women are able to further their careers, as well as the promotion of utilizing women resources, and that are superior in their financial index. Nadeshiko Brand companies are selected from those listed on the first section of the TSE on an industry basis, and are introduced as attractive brands for investors who attach high value to mid- to long-term improvement in corporate value.

Kito Americas, Inc. announced today that the company has entered into a stock purchase agreement to acquire Peerless Industrial Group from Westview Capital Partners II, L. P. by purchasing all the shares of Peerless Industrial Group, Inc. The share transfer of Peerless shall be executed subject to the terms and conditions in the Stock Purchase Agreement. Kito Americas, Inc. currently operates Harrington Hoists, Inc. and Kito Canada (KCI) businesses in North America and is the largest subsidiary of the Kito Corporation of Japan. Kito is listed on the Tokyo Stock exchange (TSE1) under the stock ticker 6409. Kito Americas will, by combining with Peerless, expand its product to better serve its customer segments around the world and strengthen its North American business.