Conversion of Kyowa Hakko Kirin Korea Co., Ltd. into wholly owned subsidiary
September 26, 2012
Tokyo, Japan, September 26, 2012 --- Effective from September 21, 2012, Kyowa Hakko Kirin Co., Ltd. ("Kyowa Hakko Kirin") acquired a 10% stake in its subsidiary, Kyowa Hakko Kirin Korea Co., Ltd. ("Kyowa Hakko Kirin Korea"), having its business of development and sales of ethical drugs in Korea, from Jeil Pharmaceutical Co., Ltd. ("Jeil Pharmaceutical"), converting Kyowa Hakko Kirin Korea to a wholly owned subsidiary of Kyowa Hakko Kirin.
Kyowa Hakko Kirin aspires to become a global specialty pharmaceutical company, as group in one united body.
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| Date executed | September 21, 2012 |
|---|---|
| Contract parties | (Seller) Jeil Pharmaceutical, (Buyer) Kyowa Hakko Kirin |
| Shares to be purchased | 22,000 shares |
| Objective | For efficient management in Korean pharmaceutical market |
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| Established date | May 24, 1991 |
|---|---|
| Location | 5F, Poonglim Bldg., 124, Teheran-ro, Gangnam-gu, Seoul 135-784, Korea |
| President & CEO | Tae Se Kwon |
| Paid up capital | 2.2 billion KRW |
| Shareholders | Kyowa Hakko Kirin Co., Ltd. (100%) |
| Sales | 43.4 billion KRW (2011) |
| Line of business | Development and sale of ethical drugs in Korea |
| Main offices | Head office: Seoul
Office: Busan, Daegu, Gwangiu, Daejeon, Gangwon |