NEW YORK, August 25, 2014 — BNY Mellon, a global leader in investment management and investment services, has been appointed by Akebono Brake Industry Co., Ltd. as the depositary bank for its American depositary receipt (ADR) program. Each ADR represents one ordinary share and trades on the over-the-counter market under the symbol ‘AKBIY.’ Akebono Brake’s ordinary shares trade on the Tokyo Stock Exchange under the code ‘7238.’
Founded in 1929, Akebono Brake is a world leader in advanced brake and friction material development and production. The company operates R&D centers in Japan, the U.S., France and the U.K, and has wholly-owned or affiliated manufacturing facilities worldwide. Akebono Brake employs more than 9,000 people worldwide on a consolidated basis. As a technology partner to the McLaren Mercedes Formula 1 team, Akebono Brake has been supplying and jointly developing brake systems since 2007.
“Akebono Brake’s international business started with the United States, so we are delighted to establish our new sponsored ADR program with BNY Mellon to expand the opportunity for U.S. investors to invest in our company,” said Chairman, President and CEO Hisataka Nobumoto. “Using the new ADR program effectively, we would like to make further efforts to increase our visibility for U.S. investors with investor relations activities.”
“We look forward to partnering with Akebono Brake, a major force in the auto industry, as they unveil their new ADR program to the U.S. marketplace,” said Neil Atkinson, head of the Asia-Pacific Region for BNY Mellon’s Depositary Receipts business. “Our teams will work together diligently to ensure that their ADR program succeeds in attracting global investors and expanding visibility.”
BNY Mellon acts as depositary for more than 2,800 American and global depositary receipt programs, acting in partnership with leading companies from over 65 countries. BNY Mellon is committed to helping securities issuers access the world's rapidly evolving financial markets and delivers a comprehensive suite of depositary receipt services. Learn more at www.bnymellon.com/dr
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of March 31, 2014, BNY Mellon had $27.9 trillion in assets under custody and/or administration, and $1.6 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Learn more at www.bnymellon.com, or follow us on Twitter @BNYMellon.
This release is for informational purposes only. BNY Mellon provides no advice nor recommendation or endorsement with respect to any company or securities. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities. Depositary Receipts: Not FDIC, State or Federal Agency Insured; May Lose Value; No Bank, State or Federal Agency Guarantee. BNY Mellon provides no advice nor recommendations or endorsement with respect to any company, security or products based on any index licensed by BNY Mellon, and we make no representation regarding the advisability of investing in the same.
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