CELEX: 32021M10275
Language: en
Date: 2021-06-11 00:00:00
Title: Commission Decision of 11/06/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10275 - SMFL / YANMAR / YANMAR CREDIT) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 11.6.2021
                                                                C(2021) 4315 final
                                                                                 PUBLIC VERSION
                                                                Sumitomo Mitsui Finance and Leasing
                                                                Co., Ltd
                                                                1-3-2, Marunouchi, Chiyoda-ku
                                                                100-8287 Tokyo
                                                                Japan
                                                                Yanmar Holdings Co., Ltd.
                                                                1-32, Chayamachi, Kita-ku,
                                                                530-8311 Osaka
                                                                Japan
Subject:        Case M.10275 - SMFL / YANMAR / YANMAR CREDIT
                Commission decision pursuant to Article 6(1)(b) of Council Regulation
                                        1
                (EC) No 139/2004 and Article 57 of the Agreement on the European
                                     2
                Economic Area
Dear Sir or Madam,
1.      On 19 May 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Sumitomo
        Mitsui Finance and Leasing Co., Ltd. (“SMFL”, Japan) and Yanmar Holdings Co.,
        Ltd. (“Yanmar”, Japan) acquire within the meaning of Article 3(1)(b) and Article 3(4)
        of the Merger Regulation joint control of Yanmar Credit Service Co., Ltd. (“Yanmar
        Credit”, Japan) by way of purchase of shares. 3
2.      The business activities of the undertakings concerned are:
        −     SMFL offers a variety of financing services to its customers. Its core business is
              the provision of leasing services (financial leasing and operational leasing), rental
              services and installment sales services,
1       OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’). With effect from 1 December 2009, the Treaty on
        the Functioning of the European Union (‘TFEU’) has introduced certain changes, such as the
        replacement of ‘Community’ by ‘Union’ and ‘common market’ by ‘internal market’. The terminology
        of the TFEU will be used throughout this decision.
2       OJ L 1, 3.1.1994, p. 3 (the ‘EEA Agreement’).
3       Publication in the Official Journal of the European Union No C 205, 31.5.2021, p. 5.
Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË
Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.
 ---pagebreak---    −    Yanmar is active in the sale of engines used in a wide range of applications,
        energy systems and generators, as well as agricultural machinery, compact
        construction equipment, components and boats,
   −    Yanmar Credit offers financing services in Japan.
3. After examination of the notification, the European Commission has concluded that
   the notified operation falls within the scope of the Merger Regulation and of
   paragraph 5(a) of the Commission Notice on a simplified procedure for treatment of
   certain concentrations under Council Regulation (EC) No 139/2004. 4
4. For the reasons set out in the Notice on a simplified procedure, the European
   Commission has decided not to oppose the notified operation and to declare it
   compatible with the internal market and with the EEA Agreement. This decision is
   adopted in application of Article 6(1)(b) of the Merger Regulation and Article 57 of
   the EEA Agreement.
                                                  For the Commission
                                                  (Signed)
                                                  Olivier GUERSENT
                                                  Director-General
4  OJ C 366, 14.12.2013, p. 5.
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