dissolution of a subsidiary
09 Mai 2008 - 10:09AM
UK Regulatory
RNS Number:0599U
Maruwa Co Ld
09 May 2008
9 May 2008
MARUWA CO., LTD.
3-83 Minamihonjigahara-cho, Owariasahi-city, Aichi-pref. 488-0044 JAPAN
(Translation)
Notice regarding dissolution of a subsidiary
MARUWA CO., LTD. ("MARUWA") determined to dissolve a subsidiary, Maruwa Electronics (Philippines),
Inc. (hereinafter "Maruwa Philippines"). Details are as follows;
1. Reason of dissolution
Maruwa Philippines, one of our subsidiaries to produce electronic components and to sell them to
us, will be dissolved as products manufactured at Maruwa Philippines are transferred to our
manufacturing subsidiaries in Malaysia and India.
2. Details of Maruwa Philippines
Address Main Avenue Corner 3rd St., Cavite Economic Zone, Rosario, Cavite 4106
Philippines
Representative Sei Kanbe, Representative director
Business Manufacturing of electronic components
Foundation 1 July 2006
Paid-in capital 5 million peso
Total net assets -166 million yen
Total assets 44 million yen
End of fiscal year 31 March
Shareholders MARUWA CO., LTD. (100%)
3. Operating results
Millions of yen
Fiscal 2007 Fiscal 2008
ended 31 March ended 31 March
2007 2008
Net sales 297 413
Operating loss (14) (51)
Net loss (19) (159)
4. Amount of loss due to dissolution
98 million yen
5. Schedule of dissolution
7 January 2008 Resolution by the board of directors at MARUWA and Maruwa Philippines
15 May 2008 Dissolution
March 2009 Completion of liquidation
6. Effects on operating results of MARUWA
A loss on dissolution was posted in the final results for full fiscal year 2008 ended in 31 March
2008; consolidated: 96 million yen, non-consolidated: 195 million yen.
As for fiscal year 2009 ending 31 March 2009, impact on operating results is expected to be
insignificant.
* The forecasts stated above are based on currently available information as of the date of
announcement.
Actual results may differ from these forecasts due to various factors.
END
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END
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