UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 5)*
AVIATION SALES COMPANY
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.001 par value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
053672 10 1
- --------------------------------------------------------------------------------
(CUSIP Number)
John A. Maraia
Corporate Counsel
Legal Department
Tomen America Inc.
1285 Avenue of The Americas
New York, New York 10019
(212) 397-5734
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
March 5, 1999
--------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box |_|.
Note: Six copies of this statement, including all exhibits,
should be filed with the Commission. See Rule 13d-1(a) for other
parties to whom copies are to be sent.
(Continued on following pages)
- ---------------------------
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect for the subject class of securities and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the act (however, see the
Notes).
<PAGE>
CUSIP NO. SCHEDULE
053672 10 1 13D
- ------------------------ -----------------------
- -------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON Tomen America Inc.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
- -------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) |_|
(B) |_|
- -------------------------------------------------------------------------------
3. SEC USE ONLY
- -------------------------------------------------------------------------------
4. SOURCE OF FUNDS WC
- -------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS |_|
REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
- -------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
- -------------------------------------------------------------------------------
| |
NUMBER OF SHARES | 7. | SOLE VOTING POWER 0
| |
OWNED | |
| |
BY EACH REPORTING | |
| |
PERSON WITH | |
- -------------------------------------------------------------------------------
| |
| 8. | SHARED VOTING POWER 630,500
| | See Item 5.
- -------------------------------------------------------------------------------
| |
| 9. | SOLE DISPOSITIVE POWER 0
- -------------------------------------------------------------------------------
| |
| 10.| SHARED DISPOSITIVE POWER 630,500
| | See Item 5.
- -------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 630,500
- -------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
- -------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 5.0%
- -------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
- -------------------------------------------------------------------------------
<PAGE>
CUSIP NO. SCHEDULE
053672 10 1 13D
- ------------------------ -----------------------
- -------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON Tomen Corporation
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
- -------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) |_|
(B) |_|
- -------------------------------------------------------------------------------
3. SEC USE ONLY
- -------------------------------------------------------------------------------
4. SOURCE OF FUNDS WC
- -------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS |_|
REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
- -------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Japan
- -------------------------------------------------------------------------------
| |
NUMBER OF SHARES | 7. | SOLE VOTING POWER 0
| |
OWNED | |
| |
BY EACH REPORTING | |
| |
PERSON WITH | |
- -------------------------------------------------------------------------------
| |
| 8. | SHARED VOTING POWER 640,500
| | See Item 5.
- -------------------------------------------------------------------------------
| |
| 9. | SOLE DISPOSITIVE POWER 0
- -------------------------------------------------------------------------------
| |
| 10.| SHARED DISPOSITIVE POWER 640,500
| | See Item 5.
- -------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 640,500
- -------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
- -------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 5.1%
- -------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
- -------------------------------------------------------------------------------
<PAGE>
Tomen Corporation hereby amends the single joint statement on Schedule 13D
filed with the Securities and Exchange Commission (the "SEC") on July 3, 1996,
amended and restated in Amendment No. 1 filed with the SEC on August 7, 1996,
amended and restated in Amendment No. 2 filed with the SEC on July 31, 1997,
amended and restated in Amendment No. 3 filed with the SEC on March 13, 1998 and
amended and restated in Amendment No. 4 with respect to Japan Fleet Service
(Delaware) Inc., Japan Fleet Service (Europe) B.V. and Japan Fleet Service
(Singapore) Ptd. Ltd. on February 26, 1999, with respect to the shares of Common
Stock of Aviation Sales Company as follows:
Item 2. Identity and Background
(a, b, c and f) This Statement is being filed by (i) Tomen America Inc., a
Delaware corporation ("Tomen America"), the principal business of which is a
general trading company (sogo shosha) involved in domestic and foreign trading
of a wide range of products, including foodstuffs, apparel, housing, industrial
plant, tankers, aircraft and minerals and (ii) Tomen Corporation, a corporation
organized under the laws of Japan ("Tomen"), the principal business of which is
a general trading company (sogo shosha) involved in domestic and foreign trading
of a wide range of products, including foodstuffs, apparel, housing, industrial
plant, tankers, aircraft and minerals. The principal office of Tomen America is
1285 Avenue of the Americas, New York, New York 10019. The principal office of
Tomen is 14-27, Akasaka 2-Chome, Minato-Ku, Tokyo, Japan. Tomen America is a
wholly-owned subsidiary of Tomen. Exhibit 1 hereto sets forth the name,
principal business, address and citizenship of each of the executive officers
and directors of Tomen America and Tomen, and is incorporated herein by
reference. Tomen America and Tomen are referred to herein individually as a
"Reporting Person" and collectively as the "Reporting Persons."
(d and e) During the last five years, none of Tomen America or Tomen, or
any of the persons listed on Exhibit 1 has been (i) convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors); or (ii) was a
party to a civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding was or is subject to a judgment,
decree or final order enjoining future violations of, or prohibiting or
mandating activities subject to, federal or state securities law or finding any
violation with respect to such laws.
Item 5. Interest in Securities of Issuer
(a) Tomen America may be deemed to be the beneficial owner of 630,500
Shares or 5.0% of the outstanding Shares (based on the Company's Form 10-K for
the year ended December 31, 1998). Tomen Corporation through its wholly-owned
subsidiary, Tomen America, and through its employment of Kazutami Okui, a former
director of the Company, who owns 10,000 stock options of the Company which are
immediately exercisable at an exercise price of $19.00 per share (the "Okui
Options"), may be deemed to be the beneficial owner of 640,500 shares or 5.1% of
the outstanding Shares.
To the knowledge of Tomen America and Tomen, none of the persons described
on Exhibit 1 owns any of the Company's Shares except Kazutami Okui, a former
director of the Company, who owns the Okui Options.
(b) Tomen, by virtue of its direct ownership of all of the stock of Tomen
America may be deemed to share with Tomen America the power to vote or direct
the vote and the power to dispose or direct the disposition of the Shares owned
by Tomen America. Tomen, through its employment of Kazutami Okui, a former
director of the Company and the owner of the Okui Opions, may be deemed to share
the power to vote or direct the vote and the power to dispose or direct the
disposition of the Okui Options with Mr. Okui.
(c) Prior to January 1999, TM Aviation (Japan) Inc. ("TM Japan") and TM
Aviation (USA) Inc. ("TM USA") owned 405,350 and 225,150 Shares, respectively.
Each of TM Japan and TM USA were wholly-owned subsidiaries of Tomen. On January
4 1999, Tomen contributed all of the Common Stock of TM Japan and TM USA to
Tomen America. On February 22, 1999, the Board of Directors of each of TM Japan
and TM USA and the sole stockholder of each of TM Japan and TM USA, Tomen
America, approved the liquidation of each of TM Japan and TM USA, respectively.
The 405,350 and 225,150 Shares were distributed to Tomen America. On March 5,
1999, Tomen America sold 580,500 Shares at $40.9375 per share and 50,000 Shares
at $42.50 per share.
(d) Not applicable.
(e) On March 5, 1999, each of Tomen America and Tomen ceased to be the
beneficial owner of more than five percent of the outstanding Shares.
Item 7. Material to be Filed as Exhibits
The following exhibits are incorporated herein by reference:
1. Executive Officers and Directors of Tomen America Inc. and Tomen
Corporation who are not Reporting Persons.
8. Joint Filing Agreement between Tomen America and Tomen Corporation.
<PAGE>
After reasonable inquiry and to the best of the undersigned's
knowledge and belief, the undersigned hereby certify that the information set
forth in this statement is true, complete and correct.
Dated: April 1, 1999
TOMEN AMERICA INC.
By: /s/ Hideki Mushika
---------------------------------------
Name: Hideki Mushika
Title: Senior Vice President
TOMEN CORPORATION
By: /s/ Kazutami Okui
---------------------------------------
Name: Kazutami Okui
Title:
<PAGE>
EXHIBIT INDEX
Exhibit
Sequentially
Numbered Page
1. Executive Officers and Directors of Tomen
America Inc. and Tomen Corporation, who are
not Reporting Persons.
8. Joint Filing Agreement between Tomen America
Inc. and Tomen Corporation.
<PAGE>
EXHIBIT 1
Executive Officers and Directors of
Tomen America Inc. and
Tomen Corporation Who Are Not Reporting Persons
The following sets forth certain information about executive officers and
directors of Tomen America Inc. and Tomen Corporation who are not Reporting
Persons. Except for Robert B. Cohen, each of such persons is a citizen of Japan.
Present Principal Occupation or Employment;
Name, Principal Business, and Address in
Name and Residence or Which Such Employment is Conducted (if
Business Address Different from Business Address of Employer)
- --------------------------------- --------------------------------------------
Akihiro Tsuji President
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Takeshi Emi Executive Vice President
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Yoshiaki Ueki Executive Vice President
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Satoshi Miwa Senior Managing Director
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Noriyuki Matsunobu Senior Managing Director
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Susumu Matsui Senior Managing Director
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Yuzo Takeshige Senior Managing Director
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Kichibe Ozaki Senior Managing Director
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Morihiko Tashiro Senior Managing Director
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Hajime Kawamura Managing Director
1285 Avenue of the Americas Tomen Corporation
New York, New York 10019
(business)
Hiroshi Uemura Managing Director
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Kazuhiko Otsuka Managing Director
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Kouji Taira Director
14-27, Akasaka 2-chome Tomen Corporation
Minato-ku
Tokyo, Japan (business)
Michio Ishidate President and Chief Executive
1285 Avenue of the Americas Officer
New York, New York 10019 Tomen America Inc.
Robert B. Cohen Executive Vice President and
1285 Avenue of the Americas Director
New York, New York 10019 Tomen America Inc.
Kimikazu Ushizaki Executive Vice President
100 First Street Tomen America Inc.
San Francisco, CA
Shuzo Oshima Senior Vice President
1285 Avenue of the Americas Tomen America Inc.
New York, New York 10019
Hideki Mushika Senior Vice President
1285 Avenue of the Americas Tomen America Inc.
New York, New York 10019
<PAGE>
Exhibit 8
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f) under the Securities Exchange Act of
1934, as amended, the persons named below agree to the joint filing on behalf of
each of them of the Schedule 13D to which this Agreement is an exhibit (and any
further amendment filed by them) with respect to the shares of Common Stock,
$.001 par value, of Aviation Sales Company.
This agreement may be executed simultaneously in any number of
counterparts, all of which together shall constitute one and the same
instrument.
Dated: April 1, 1999
TOMEN AMERICA INC.
By: /s/ Hideki Mushika
----------------------------------------
Name: Hideki Mushika
Title: Senior Vice President
TOMEN CORPORATION
By: /s/ Kazutami Okui
---------------------------------------
Name: Kazutami Okui
Title:
