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Health Business news
2017-09-22
Ping An Strategically Invests in Tsumura and Becomes Its Largest Shareholder

Ping An Strategically Invests in Tsumura and Becomes Its Largest Shareholder



HONG KONG and SHANGHAI, Sept. 22, 2017 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. (hereinafter "Ping An" or the "Group", HKEx: 2318; SSE: 601318) has announced that it has entered into a strategic cooperation agreement with TSUMURA & CO. (hereinafter "Tsumura", stock code: TYO:4540). Tsumura will sell treasury stock and issue additional shares in a private placement with China Ping An Life Insurance Co., Ltd. (hereinafter "Ping An Life"), a subsidiary of Ping An. The deal, involving a total of 7,675,900 shares, is worth JPY 27,322,366,050 (approximately CNY 1,600million). Upon completion of the deal, Ping An Life will hold a 10% stake in Tsumura, becoming Tsumura's largest shareholder. The investment is conducted by Ping An Overseas Holdings.

Both parties also announced the establishment of a joint venture in China to jointly enhance traditional Chinese medicine research, development and production technology and to build and perfect the whole industry chain quality management standard system of traditional Chinese medicine from herbs cultivation to the final product.

Ping An's investment is the single largest investment made by a Chinese company in the field of the Japanese Kampo medicine industry. It also combines the world's most advanced Kampo medicine technology with the world's largest healthcare market. The strategic investment will bring to China the world's leading Kampo medicine technology and innovative products, thereby providing general public in China with a more comprehensive range of medicinal products. This will be highly significant for advancing the healthy development of the traditional Chinese medicine industry in China and for raising the health levels of the overall population.

Tsumura was established in 1893 and has a tradition of excellence stretching back 124 years. It is currently the world's largest manufacturer of Kampo medicine. It produces more than 120 kinds of Kampo medicine and has a share of 84% of the market (until March 2017) for prescription Kampo products in Japan.

About TSUMURA & CO.

Headquartered in Tokyo, Japan, TSUMURA & CO. is a company mainly engaged in the manufacture and sale of ethical and general pharmaceuticals. It manufactures and sells Kampo medicine, Japanese herbal medicine. Through its subsidiaries, the Company is also engaged in the manufacture and sale of Kampo extract powders and the provision of logistics services.

About Ping An

As China's first joint stock insurance company, Ping An Insurance (Group) Company of China, Ltd. ("Ping An") is dedicated to becoming a world-leading personal financial services provider. Today, it is an integrated, compact, multi-functional financial services group with services that include insurance, banking, and investment. As at 30 June 2017, the Group had over 143 million individual customers. As at the end of June 2017, the Group's consolidated total assets reached RMB5.99 trillion while equity attributable to shareholders of the parent company stood at RMB425,780 million. Ping An Life and Ping An Property & Casualty are both ranked the second largest in China, Ping An Annuity ranked top in China in their respective areas by premium income. Its subsidiary Ping An Bank is China's first joint stock bank. The Company's key areas of business include investment, with subsidiaries such as Ping An Trust, Ping An Securities and Ping An Asset Management. Further, Ping An strives to develop internet finance, including Lufax, Ping An Good Doctor, Ping An Haofang, E-Wallet, Financial OneConnect. It has achieved significant growth in both the scale and user base of internet finance. As at 30 June 2017, the number of internet users of the Company reached 403 million.

Ping An ranked 16th in Forbes' 2017 Global 2000, it ranked 39th in Fortune Magazine's 2017 Global 500 Leading Companies. Apart from these accolades, Ping An ranked 61st in WPP Millward Brown's BrandZTM Top 100 Most Valuable Global Brands ranking.

For more information, please visit http://t.sina.com.cn/pingan, http://t.qq.com/pingan or www.pingan.com.cn.

For enquiries, please contact:

Hill+ Knowlton Strategies Asia:

Daphne Chan                                    Bowen Chui
Tel: (852) 2894 6217 / (852) 6096 8656   Tel: (852) 2894 6233 / (852) 9783 0643
Email: pingan@hkstrategies.com   

View original content:http://www.prnewswire.com/news-releases/ping-an-strategically-invests-in-tsumura-and-becomes-its-largest-shareholder-300524275.html
SOURCE Ping An Insurance (Group) Company of China, Ltd.




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Source : PR Newswire

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