Taiyo Nippon Sanso will transfer to have a holding company system from October 1, 2020. TNSC at present controls three regions (USA, Europe and Asia/Oceania) from its headquarters at home, but will adopt and go to a system of holding company under which the industrial gas and Thermos businesses will be positioned for control by each of the four regional business units at home and abroad, so that responsibility of each regional business can be made clear and decision may be made more quickly.

The company will be renamed as NIPPON SANSO HOLDINGS CORPORATION. Both names in Japanese and English are headed by “Nippon.”

In preparation for the transfer to the holdings system, a split promoting company fully affiliated by TNSC is first established (represented by president Ichihara of TNSC) and then the assets and liabilities of the domestic gas business (excluding Thermos business) now owned by TNSC are split into the split promoting company. It will make TNSC a pure holding company to change its name to Nippon Sanso Holdings. The preparatory split promoting company changes the name to Taiyo Nippon Sanso which will be engaged in the domestic gas business.

Under the holding company there also will be the following groups: Matheson Tri-Gas Group engaged in the US gas business, Nippon Gases Group engaged in the European Gas business, Asia/Oceania Regional Group engaged in the Asian /Oceanian gas business and Thermos Business Group consisting of five companies.

In the three regional units of the domestic, USA and European business, each of them manages by itself and as for the Asia/Oceania unit each of the group companies is integrated by the headquarters in Japan.

According to TNSC’s plan, the split promoting company would be founded on February 4 of this year, the board of director meeting will resolve the proposal in May and the shareholders meeting will approve it officially in June. The transfer to a holding company is scheduled to complete on October 1. With regard to the listing on the Tokyo Stock Exchange, the holding company will succeed and maintain it.