October 4, Acquisition of Shares of PT. OLYMPINDO MULTI FINANCE by a Consolidated Subsidiary of J Trust Co., Ltd. (Continuous Disclosure)

October 04, 2018

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

Acquisition of Shares of PT. OLYMPINDO MULTI FINANCE by a Consolidated Subsidiary of J Trust Co., Ltd.
(Continuous Disclosure)

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

October 04, 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 by a Consolidated Subsidiary of J Trust Co., Ltd.
(Continuous Disclosure)

J Trust Co., Ltd. (hereinafter, the “Company”) announced “Acquisition of Shares of PT. OLYMPINDO MULTI FINANCE (Indonesia) by a Consolidated Subsidiary of J Trust Co., Ltd.” on April 19th, 2018. In the release, the Company announced that JTRUST ASIA PTE. LTD. (hereinafter, “JTA”), one of the Company’s consolidated subsidiaries, would acquire shares in PT. OLYMPINDO MULTI FINANCE (hereinafter, “OMF”, headquartered in Jakarta, Indonesia) from its owner, Mr. Ang Andi Bintoro and his family. Today, the Company hereby announces that all conditions have been fulfilled, that the closing procedures have been completed and that it has completed the acquisition of shares as follows. JTA will acquire 60.0% of outstanding common shares of OMF, with which it will be our second-tier subsidiary. (Consolidated base)

1. Purpose of Share Acquisition
OMF was established as a multi-finance company in 1993. As an established well-known automobile loan company, particularly in the automobile dealer industry, OMF has 40 branches across Indonesia and an extensive network of corresponding financial institutions, including major banks.
With plans to proactively carry new products including financing for agricultural equipment and microfinance, OMF, which will change its name afterwards to PT JTRUST OLYMPINDO MULTI FINANCE, will work to expand the size and scope of the Group`s financial business while leveraging the Group’s brand strength and expertise in finance and information technology to remarkably raise productivity.
The Group has positioned the expansion of financial business in southeast Asia as one part of its growth strategy, and up until now, PT Bank JTrust Indonesia Tbk. and PT JTRUST INVESTMENTS INDONESIA have served as the pillars of the Group`s business development particularly in Indonesia. But with the addition of OMF, the Group is able to establish a structure to meet the diverse needs in Indonesia, which will serve to lay the foundation of our financial business for further growth in the Indonesian financial business.

2. An Overview of OMF

(1) Company Name PT. OLYMPINDO MULTI FINANCE※1
(2) Location Special Capital Region of Jakarta, Indonesia
(3) Representative President Director Yudi Gustiawan※2
(4) Business Operation Multi Finance Company focusing on used car financing
(5) Capital 207,338 million IDR (around 1,575 million yen)※3
(6) Establishment Date November 1993
(7) Principal Shareholder and Ownership Ratio
  • J TRUST ASIA PTE. LTD.
60.0%
  • 1The name of OMF is to be changed afterwards to “PT JTRUST OLYMPINDO MULTIFINANCE”.
  • 2Representative is to be changed afterwards.
  • 21IDR=0.0076yen

3. Future Prospects
An impact on the consolidated financial results due to the acquisition of shares has been under close examination. We will promptly disclose information as needed.

-End-

 PDF(318KB)

TOP MESSAGE

We have been going...

ABOUT J TRUST ASIA

J TRUST ASIA's info..