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At a meeting of its Board of Directors held on March 22, 2006, Kuraray's wholly owned subsidiary Kuraray Trading Co., Ltd. decided to dissolve Kuraray Planning System Co., Ltd., a company in which it holds 100% equity.
1. The subsidiary Company
| Name | Kuraray Planning System Co., Ltd. |
|---|---|
| Address | 1-12-39, Umeda , Kita-ku, Osaka |
| President | Kenzo Murai |
| Established | June 11, 1997 |
| Capitalization | ¥10 million |
| End of fiscal year | March |
| Principal shareholder | Kuraray Trading Co., Ltd. 100% |
| Business activities | Planning, design and information provision for clothing, accessories and textiles |
2. Reason for dissolution
Kuraray Trading has decided to outsource the subsidiary's business to improve the Group's operating efficacy.
3. Schedule
| March 2006 | Resolution for dissolution |
|---|---|
| August 2006 | Liquidation complete |
4. Effect on performance
While Kuraray Planning System is a Kuraray non-consolidated subsidiary accounted for by the equity method, its dissolution will have little effect on the consolidated performance of Kuraray Co., Ltd.
