Suning 800 million yen purchase LAOX 27.36% stake as the largest shareholder.

Suning Appliance <p> PM on June 24 announced private placement of shares subscribed LAOX, holding 27.36% stake in the company LAOX, becoming its largest shareholder, has officially entered the history of eighty years old electronics chain in Japan .business, this is the first acquisition of Chinese companies listed in Japan. .</ P> <p> learned that Suning will take this opportunity to establish a collaborative Japanese home appliance chain enterprises development platform, help domestic chain business model innovation, development, and promote the improvement of the company's operating LAOX. .</ P> <P> <P> <p> LAOX Suning Appliance Company became the largest shareholder </ p> <p> LAOX (stock code 8202.T) is a Japanese home appliance chain, founded in 1930, .In the Tokyo Stock Exchange. .LAOX brand has a long history in Japan enjoy a high popularity and reputation. .However, due to changes in market competition in recent years, increasingly severe operating conditions of the company. .LAOX has 10 stores currently, the main business 3C appliances, animation games, toys, models, musical instruments and other product sales, in fiscal year 2008 sales revenue of 40.648 billion yen. .</ P> <p> LAOX companies this year seek to re-operate, an invitation to the Suning Appliance. .After the initial contact, the depth of communication and third-party due diligence, investment process and a series of consultations after the program officially concluded the acquisition of this investment program. .</ P> <p> in accordance with the acquisition program, Suning will be 12 yen per share subscription price of LAOX million private placement shares of the company 6667, a total investment of 800 million yen (about 57.3 million yuan), funding will have to complete Hou Suning .LAOX 27.36% stake in the company, becoming its largest shareholder, injection of funds will be used to LAOX company's business development and repurchase some of the original preferred stock held by preferred shareholders equity, Suning will appoint two directors to the Board of Directors LAOX .. .</ P> <p> This is the Chinese companies listed on Japan's first acquisition is the first time the Chinese home appliance chain enterprises involved in foreign markets. .</ P> <p> LAOX three-year strategy to enhance profitability </ p> <p> LAOX Yamashita strict company president, said Su Ning, a Chinese home appliance retail market leader in business philosophy, internal management, information systems, logistics .platform has a strong advantage, able to cooperate and Suning Appliance will help LAOX business development in Japan, and comprehensively promote business development, a radical improvement in the current operating conditions. .</ P> <p> involved in the development of LAOX in Suning regeneration program, established to enhance the profitability of the core of the three Raiders. .</ P> <p> mountain strict that since LAOX duty-free goods in Japan have an advantage on the sales, according to Tuo Suning Appliance in China-owned stores and improve after-sales service network for home appliances in LAOX goods purchased duty-free 3C .China's long-term customer service, will greatly enhance the opening of "Japan's free exercise" after the surge of Chinese tourists to buy in LAOX will and trust. .</ P> <p> same time, because China is the world's household electrical appliance manufacturing center, in terms of the Japanese customers, LAOX Suning Appliance Company through a joint procurement with the introduction of more affordable high-quality home appliances, and fully enjoy the Chinese household electrical appliance .manufacturing cost advantage. .</ P> <p> Suning leveraging innovation and boost local business </ p> <p> LAOX for this capital injection of reasons, Sun Weimin said the development of the Chinese home appliance chain reference object is Europe and Japan, while the Japanese market .consumer characteristics, consumption habits closer to China, through this cooperation a wide range of benefits available. .</ P> <p> said Sun Weimin, Suning Appliance has consistently adhered to prudent management style, from the current program point of view, LAOX is a very transparent information disclosure of listed companies, while operating an appropriate scale, strong risk control, and has a certain .investment value. .</ P>.