|
June 23, 2003
Plaza Create Co., Ltd
|
|
Notification Concerning Important Resolution on Subsidiary
Company
At its Board of Directors meeting on June 23, 2003, the Board
of Directors of Plaza Create Co., Ltd. approved a resolution
to convert the status of Cyber Graphics Corporation from a
consolidated subsidiary to an unconsolidated subsidiary by
the interim accounting period of the current fiscal year.
The details of the conversion are described below.
|
1. Summary of subsidiary company
(1) Company name Cyber Graphics Corporation
(2) Representative Makoto Aoki,
President
(3) Head office 3-4,
Kanda-nishikicho, Chiyoda-ku, Tokyo
(4) Date established November 20, 1997
(5) Business Manufacture
and sale of photographic materials
(6) Fiscal year-end March 31
(7) Employees 29
(8) Capital  225
million
(9) Sales 1,849
million (fiscal year ended March 31, 2003)
2. Method
The details of the conversion method have not been finalized yet.
They will be properly disclosed when the details of the conversion
method become certain.
3. Schedule
It will be implemented by September 30, 2003.
4. Reason
Plaza Create is currently reorganizing its group businesses, to
enhance consolidated management. The Company strives to concentrate
its management resources by promoting group business strategies
aimed at further growth and development in the digital photograph
era.
5. Effect on operating results
At present, it is expected that an extraordinary loss of approximately
200
million will be incurred both on a consolidated and non-consolidated
basis, as a result of the planned conversion. The details of the
conversion have not been finalized yet. They will be properly disclosed
when the details of the conversion become certain. The effect of
the conversion on Plaza Create's sales and ordinary income on a
consolidated basis will be immaterial. There will be no effect of
the conversion on Plaza Create's sales and ordinary income on a
non-consolidated basis.
|
