PS2 PAL[v9], PS3Slim PAL
I'm bit shocked oONamco and Bandai to Merge
Two Japanese giants plan to get even bigger.
by Jeremy Dunham
May 2, 2005 - Following the conclusion of simultaneous board meetings held earlier this morning, it was revealed that Bandai Corporation and Namco Limited would amalgamate their companies into a single entity this fall. The proposed merger will create the second-largest toy and videogame business group in Japan, and boast a combined annual sales total of 458 billion yen ($4.4 billion US).
To be made official on September 29, 2005, the brand new company will be known as Kabushiki Kaisha Bandai Namco Holdings (or just Namco Bandai Holdings in English) and will be a joint-holding company created through a share for share exchange. The only formality left is the most important one -- approval by the shareholders. The total number of shares expected to be issues by the new holding company is 258,296,882 at 12 yen per Namco share and 18 yen per Bandai share.
For the unfamiliar (all two of you), Bandai is Japan's largest manufacturer of toys with alternate focuses on games, apparel, candy, models, vending machines, and household goods. Namco is a similarly-built company with a focus of videogame software and amusement equipment.
The expected series of events to make this merger possible has already been outlined by Namco in its official press release:
* (May 2, 2005) Meeting of the Boards of Directors to approve the share-for-share exchange for a shareholder vote [Namco and Bandai]
* (June 23, 2005) General meeting of shareholders to approve of the share-for-share exchange [Bandai]
* (June 25, 2005) General meeting of shareholders to approve of the share-for-share exchange [Namco]
* (September 22, 2005) Tokyo Stock Exchange delisting date [Namco and Bandai]
* (September 29, 2005) Date of execution of the share-for-share exchange
In terms of the corporate restructuring and how the new executive team will operate, Namco Vice-Chairman Kyushiro Takagi will become the new Chairman and Director of Namco Bandai Holdings, while Bandai President Takeo Takasu will become the president of Namco Bandai as well.
Expect more on this huge merger (and what kind of games it will create) in the coming months.