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August 1, 2003
Plaza Create Co., Ltd
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|
Notification Concerning
Transfer of Subsidiary Company
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With regard to the conversion of the status of CyberGraphics Corporation from a consolidated subsidiary to an unconsolidated subsidiary as announced in the disclosure document dated June 23, 2003, the following change (transfer of stock) has been made.
1. Summary of subsidiary compan
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(1)
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Company name
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CyberGraphics Corporation
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(2)
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Representative
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Makoto Aoki, President
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(3)
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Head office
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3-4, Kanda-nishiki-cho, Chiyoda-ku, Tokyo
|
|
(4)
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Date established
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November 20, 1997
|
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(5)
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Business
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Manufacture and sale of photographic materials
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(6)
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Fiscal year-end
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March 31
|
|
(7)
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Employees
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29
|
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(8)
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Capital
|
 225
million
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|
(9)
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Sales
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1,849
million (fiscal year ended March 31, 2003)
|
2. Method of transfer
Transfer of all stocks owned by Plaza Create to Makoto Aoki, the current president of the said subsidiary company.
3. Number of subsidiary voting rights held by Plaza Create before and after the transfer, and the percentage of total voting rights
|
|
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(Before transfer)
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(After transfer) |
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(1)
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Number of voting rights held
by Plaza Create
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13,500 rights
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0 |
|
|
(Number of shares owned by
Plaza Create
|
13,500
shares
|
0) |
|
(2)
|
Total number of voting rights
|
13,500 rights
|
13,500 rights |
|
|
(Total number of shares outstanding
|
13,500 shares
|
13,500 shares) |
|
(3)
|
Percentage of total voting
rights
|
100.0%
|
0.0% |
|
|
(Percentage of total shares
outstanding
|
100.0%
|
0.0% |
4. Reason for the transfer
Plaza Create is currently reorganizing its group businesses, in order to enhance consolidated management. The Company strives to concentrate its management resources in an effort to promote its digital photograph strategies.
5. Schedule
Stock transfer date: August 1,
2003
Date of change: August 1, 2003
6. Transfer amount
1,350,000
(write-down of securities during the previous fiscal period)
7. Effect on operating results
There will be no effect of the
transfer on Plaza Create's sales and ordinary income on a non-consolidated
basis. With regard to the net income/loss for the fiscal year,
it is expected that a small amount of extraordinary loss will
be incurred both on a consolidated and non-consolidated basis,
as a result of the planned transfer. However, this has already
been incorporated in the projection of results of operations as
announced earlier, and there has been no further change. |
