Asahi Glass Co., Ltd. (the “Company”) has decided to liquidate its subsidiary, as described below.
1. Reason of Liquidation
The Company has stopped sale of CRT glass in Singapore in December, 2007 as a part of restructuring plan in light of the decline in demand for CRT glass, and decided to liquidate Asahi TV Glass Pte., Ltd.
2. Profile of Asahi TV Glass Pte., Ltd
(1) Location: Jurong, Singapore
(2) Representative: Takeo Morinaga
(3) Business description: sale of CRT glass
(4) Foundation Date: January 1979.
(5) Capital: 6,192,000 Singapore dollars
(6) Shareholders (with %): Asahi Techno Vision Pte,. Ltd.: 100%
(7) Number of employees: 0 (as of March 31, 2008)
3. Schedule
(1) Date of liquidation resolution by shareholders: April 30, 2008 (plan)
(2) Date of liquidation: Second half of 2009(plan)
4. Impact on the operational results
The liquidation of the aforementioned subsidiary will have only a negligible effect on the Company’s non consolidated and consolidated operating results.
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