Tokyo January 30, 2007: Japan Airlines has reached an agreement to sell Sojitz Corporation 3,832,500 of its 6,560,000 shares in trading subsidiary JALUX. Sojitz is a Japanese company with interests in machinery and aerospace, energy, chemicals and plastics, real estate and consumer lifestyle businesses.
JAL currently owns 51.4% of JALUX’s shares. The 3,832,500 shares represent 30% of the total of JALUX shares issued. JAL will retain 21.35% of the total JALUX shares .
The details of price and conditions will be concluded by the end of the current financial year.
The deal will not only help JAL’s financial position but will also provide a boost for further development of JALUX into a stronger company.
JALUX was founded as Nikko Shoji (JAL Trading) in March 28, 1962.
JALUX business includes procurement of goods for JAL such as in-flight cabin service items, aircraft parts procurement, airline fuel supply, export and import of machinery, operation of airport retail outlets, lifestyle business including import and distribution of alcoholic drinks, import of foods and customer services business including insurance, real estate, printing and life design service.
In April 2001 JAL trading changed its name to JALUX.
On February 28, 2002 JALUX raised new capital through the sale of 750,000 shares on the second section of the TSE. Current capital is 2,558,000,000 yen. Total shares issued: 12,775,000.
JALUX is based in Tokyo at the JAL Building, Higashi-Shinagawa. Other major shareholders include Tokyo Marine and Nichido Fire Insurance (3.6%) and Nissay Dowa General Insurance (3.1%).
JALUX has 1,082 employees.
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