What's New

Sanden Holdings Co., Ltd. (Head office: Isesaki city, Gunma, Representative Director & President: Katsuya Nishi, hereinafter referred to as the “Company”) as of today, according to “Issuance of new shares through third-party allotment and registration for issuance of new shares, notice regarding partial amendment of articles of incorporation and change of parent company and largest shareholder”, signed a share underwriting agreement with Hisense Home Appliances Group Co., Ltd. at the board of directors meeting held today. The company has resolved to issue new shares through a third-party allotment to a special purpose company to be established (hereinafter referred to as the "third-party allotment"). The total amount of new shares issued to the special purpose company to be allotted is approximately 21.4 billion yen.

The Hisense Group, headquartered in Qingdao, China, was established in 1969 and is a global electronics manufacturer group that develops, manufactures, and sells mainly electronic information equipment and home appliances. In fiscal 2020, the Hisense Group's sales were approximately 2,288.1 billion yen.

We have promoted the transformation of our business portfolio and concentrated all our management resources on the automobile equipment business. This has evolved into a company that provides solutions for "integrated thermal management," which is our strength for new energy vehicles (NEV), which are expected to grow rapidly, and this is to achieve a growth strategy for the realization of a carbon-free society.　
On the other hand, the Hisense Group positions its entry into the in-vehicle electronics-related business as one of its important strategies, based on the core technologies it has cultivated so far, such as air conditioning control, AI, IoT, and the Internet.
Since our strategy and the Hisense Group's strategies match, we have decided to issue new shares to the Hisense Group as an optimal business alliance partner that can create a wide range of synergies. As a result, we will achieve faster growth than independent business development, further accelerate the strategic development of both companies, and strongly promote the improvement of corporate value.
We provide an integrated thermal management system with more advanced air conditioning control by using the Hisense Group's Internet connection of vehicles and control technology utilizing AI, furthermore, in the short term, we will create synergistic effects through joint procurement of raw materials / electronic components and utilization of human resources.
As a result, we will strengthen our system to meet the high QCD requirements of automobile manufacturers and further enhance our presence as a Tier 1 supplier.
In the medium to long term, in addition to air conditioning products for electric vehicles such as our heat pump system and electric compressor, incorporating advanced technologies for future vehicles such as smart transportation, smart cockpit and connected cars that Hisense Group is working on, it will be a major first step in leading NEV's "transformation of thermal management technology" and creating a "world-leading" company in the field of in-vehicle electronics.

By executing this third-party allotment, we will break away from the severe　business conditions in which we have been placed. In order to revitalize our business, we will obtain necessary funds for structural reforms and future growth investment funds as well as by having the creditors subject to the business revitalization ADR procedure agree to the business revitalization plan formulated by the Company, we will strive to establish a strong revenue base and drastically improve our financial position at an early stage.

By combining Sanden's competitiveness with the Hisense Group's superior cutting-edge technology, in the CASE era, we are confident that we can create greater value for our customers by "creating new changes by ourselves," which is the fusion of the automobile industry and the electrical industry. As a new Sanden, we will contribute to the realization of a carbon-free society toward our future vision of "To create the affluent society in which the environment and comfort are in harmony.”