Nippon Indosari Acquires 51% Shares of Prima Boga


JAKARTA, – PT Nippon Indosari Corpindo Tbk (ROTI) is set to acquire 51% shares of PT Prima Top Boga (PTB), a company engaged in frozen dough of bread and pastry products in Indonesia.

“PT Nippon and PTB have signed a cooperation agreement, stating that PT Nippon will buy 51% shares of PTB,” said Nippon Indosari management in a written statement to the Indonesia Stock Exchange in Jakarta on Monday (11/27).

PT Nippon Indosari, producer of Sari Roti breads, will make additional investments either directly or indirectly within the next three years.

“The investment will be done in stages in accordance with the performance of PTB during the cooperation,” it said.

Bonlight Investment, one of major shareholders of Nippon Indosari, partially discounted its shares on November 6, 2017. Bonlight released its 159,711,531 ROTI shares at Rp1,275 per share or Rp203,632,202,025.

With the sale, the ownership of Bonlight Investment in PT Nippon Indosari decreased from 1,445,696,431 shares or representing 23.4% to 1,285,984,900 shares or 20.79%. As of the third quarter of 2017, Nippon Indosari Corpindo recorded a slight decline in sales compared to the same period last year. This decline surely lowered the company’s earnings.

As of September 2017, the company recorded sales at Rp1.83 trillion, while in the same period last year the sales reached Rp1.84 trillion.

The gross profit and operating income per September 2017 decreased to Rp943.97 billion and Rp178.59 billion respectively, from Rp950.33 billion and Rp323.85 billion YOY.

The profit before tax and current earnings attributable to the owners of parent company decreased to Rp124.54 billion and Rp97.35 billion from Rp268.80 billion and Rp203.69 billion respectively in the same period last year.

Despite the decline in sales and profit, the company’s total asset and equity per September 2017 increased compared to the period until December 2016. (BRT1/TPP)