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​Nippon Columbia Completes New Stock Issue: ¥ 7 Billion Expansion Capital Raised

07.23.02

Nippon Columbia Co., Ltd. announced today that its new stock issue has been successfully completed. The issue raised a total of ¥7,000,086,000 for use in expanding the Company’s growing business operations.

The number of shares of ordinary stock newly issued by the Company totaled 49,646,000, at an issue price per share of ¥141.

Nippon Columbia plans to utilize this new capital to continue revitalizing and expanding its recorded music operations. The Company embarked upon an aggressive restructuring plan earlier this year (The Nippon Columbia Revitalization Plan). New capital will provide Nippon Columbia with the financial resources to continue to strengthen and expand all divisions of its music business.

Ripplewood Holdings, already a major Nippon Columbia shareholder, increased its commitment to the Company by purchasing additional shares in the new offering. Ripplewood was joined by a number of leading institutional investors. The offering was underwritten by Lehman Brothers.

The Company’s Representative Director and President/CEO Katsumi Matsumura made the following statement. “We are very happy that the Nippon Columbia Revitalization Plan has been so highly evaluated by major institutional investors in the Japanese market, and we are pleased that they have participated in the current new stock issue. We are delighted that a number of important new institutions have joined Ripplewood and Hitachi as Nippon Columbia shareholders. Nippon Columbia has now expanded both its capital base and its base of major shareholders.”

“We are very pleased by the positive market response to Nippon Columbia’s new stock offering,” said Jeffrey Hendren, Managing Director of Ripplewood Holdings, Nippon Columbia’s largest stockholder. "Ripplewood will continue to strongly support Nippon Columbia together with our partners at Hitachi.”