Reason of Liquidation
The Company has reorganized its production system for CRT glass following the decrease in demand for CRT glass, and at the same time the demand for molds used for production of CRT glass has sharply decreased as well. In response to this situation, the Company has decided at this time to dissolve Asahi Glass Mold Techno Co., Ltd., as it had already stopped the production there of molds for CRT glass in July 2007.
2. Profile of Asahi Glass Mold Techno
(1) Location: 38 Yawata kaigan-dori, Ichihara City, Chiba, Japan
(2) Representative: Masajiro Tani
(3) Business description: manufacture of molds for CRT glass
(4) Foundation Date: January 2003.
(5) Capital: 220 million yen
(6) Shareholders (with %): - Asahi Glass Co., Ltd.: 100%
(7) Number of employees: 2 (as of September 30, 2007)
(1) Date of liquidation resolution by shareholders: October 30, 2007
(2) Date of liquidation: First half of 2008 (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.