April 19, 2018 Acquisition of Shares of PT. OLYMPINDO MULTI FINANCE (Indonesia)

April 19, 2018

Company Name: JTRUST ASIA PTE.LTD.
Representative: Nobuyoshi Fujisawa, Managing Director, CEO
Contact: Shigeyoshi Asano, Director
Telephone: +65-6535-5152

Acquisition of Shares of PT. OLYMPINDO MULTI FINANCE (Indonesia)
by a consolidated subsidiary of J Trust Co., Ltd.

J Trust Co., Ltd., the parent of JTRUST ASIA PTE. LTD., published a press release “Acquisition of Shares of PT. OLYMPINDO MULTI FINANCE (Indonesia) by a consolidated subsidiary of J Trust Co., Ltd.”. Please refer to the attachment.

April 19, 2018

Company Name: J Trust Co., Ltd.
(Listed on Second Section of the Tokyo Stock Exchange, code 8508)
Representative: Nobuyoshi Fujisawa, President & CEO
Contact: Taiji Hitachi, Director and Executive Officer
Telephone: +81(3) 4330-9100

Acquisition of Shares of PT. OLYMPINDO MULTI FINANCE (Indonesia)
by a consolidated subsidiary of J Trust Co., Ltd.

J Trust Co., Ltd. (hereinafter “the Company”) hereby announces that its Board of Directors has resolved J TRUST ASIA PTE. LTD. (hereinafter “JTA”), one of the Company’s consolidated subsidiary, will acquire shares from the owner, Mr. Ang Andi Bintoro, and his families of PT. OLYMPINDO MULTI FINANCE (hereinafter “OMF” headquarter: Jakarta, Indonesia). JTA also undertakes private placements of their new shares.
JTA will acquire 60.0% of OMF issued shares and OMF will be a sub-subsidiary of the Company. (Consolidated base)

1. Purpose of Share Acquisition

The Company expands its financial business in Southeast Asia as part of the growth strategy and has been growing the business at PT Bank JTrust Indonesia Tbk. (hereinafter “BJI”) and PT JTRUST INVESTMENTS INDONESIA (hereinafter “JTII”).
OMF was established in 1993 (founded in 1974) as a multi finance company. It has a strong distribution network of over 40 branches throughout Indonesia with close relationship with numerous used car dealers and financial institutions such as major banks. OMF has gained recognition from the auto loans industry for decades. The Company expects that there are synergistic effects with OMF.
To be specific, OMF will open new POSs (Point of Sales) which will lead to expand the sales area of BJI and be able to attract more customers. Also by using OMF’s network of financial institutions, JTII will be able to secure funding and expect an increase in purchasing and collecting receivables. In addition, OMF is planning to engage in handling new products such as finance in agricultural equipment and microfinance, while improving the productivity of its business by using the power of branding and know-how of finance/IT from the Company.
The Company believes that the size and area of the financial business will expand in the future.

By having OMF as a subsidiary, following by South Korea, three business segments are also built in Indonesia which consist of Bank (BJI), Purchasing and Collecting Receivables (JTII), and Financing Company (OMF). Establishing the structure that can respond to the needs of diverse in wide range of areas, the Company believes that it will contribute to the foundation of Financial Business in Indonesia and this is why the Company acquires the shares.

2. An Overview of OMF (as of December 31, 2017)

(1) Company Name PT. OLYMPINDO MULTI FINANCE
(2) Location Special Capital Region of Jakarta, Indonesia
(3) Representative President Director Yudi Gustiawan
(4) Business Operation Multi Finance Company focusing on used car financing
(5) Capital 50,363 million IDR (around 394 million yen)※1
(6) Establishment Date November 1993 (Founded in 1974)
(7) Principal Shareholder and Ownership Ratio
  • ANG ANDI BINTORO and his relatives
  • 100.0%
(8) The Relationship between J Trust Co., Ltd. and PT. OLYMPINDO MULTI FINANCE
  • Relationship Capital
  • There is no capital relationship to be stated.
  • Interpersonal Relationships
  • There are no interpersonal relationships to be stated.
  • Business Relations
  • BJI, consolidated subsidiary of J Trust, is providing loans.
  • Related Party Relationships
  • There are no relationships to be stated.
(9)
  • Operating results and financial position of OMF※1
  • (unit: in million yen)
Fiscal Year
  • FY12/2015
  • FY12/2016
  • FY12/2017※2
Net Assets
  • 1,798
  • 2,067
  • 2,242
Total Assets
  • 9,753
  • 13,493
  • 14,460
Operating Revenue
  • 1,968
  • 2,567
  • 3,396
Pretax Profit Margin
  • 121
  • 184
  • 186
Net Income
  • 91
  • 131
  • 140
  • 11IDR=0.007815 yen
  • 2Preliminary figures are stated above because Ernst & Young, who is in charge of auditing OMF, is currently under auditing.

3. An Overview of Acquisition Shares

(1) Name ANG ANDI BINTORO and his relatives
(2) Address Special Capital Region of Jakarta, Indonesia
(3) The Relationship with J Trust Co., Ltd. and ANG ANDI BINTORO There is no relationship to be stated.

4. Number of Acquisition Shares, Purchase Price and Number of Owned Shares before and after Transferring※3

(1) Number of Owned Shares before Transferring 0 shares(Ownership ratio: 0%)
(2) Acquisition Shares 124,403 shares (Ownership ratio: 60.0%)
(3) Purchased Price The purchase price is not disclosed by request
(4) Number of owned shares after transferring 124,403 shares (Ownership ratio: 60.0%)
  • 3Newly issued shares are included in the number of the acquisition shares, the purchase price, and the number of owned shares before and after transferring.

5. Date

(1) Resolution date of the Board of Directors on the Conclusion of the Share Transfer Agreement and the Third-Party Allocation of New Shares April 20, 2018
(2) Date of Share Transfer and Third-Party Allocation of New Shares July 31, 2018 or the day which the two parties agreed on (TBC)

6. Future Prospects

When information arises related to the financial performance that may have a significant impact on the consolidated financial results, we will promptly disclose information.

-End-

(Reference) An Overview of JTA

(1) Company Name JTRUST ASIA PTE.LTD.
(2) Location Singapore
(3) Representative Managing Director & CEO, Nobuyoshi Fujisawa
(4) Business Operation Investment Business, Management support for investees
(5) Capital 375 million SGD (around 29.8 billion yen)
(as of December 31, 2017)
(6) Establishment Date October 7, 2013
(7) Principal Shareholder and Ownership Ratio
  • J Trust Co., Ltd.
  • 100.0%

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