Kuraray Co., Ltd. resolved at its Board of Directors' meeting on July 19, 2007, to carry out a merger by absorption of its wholly owned consolidated subsidiary Kuraray Niigata Kasei Co., Ltd., a manufacturer of methacrylic resin cast sheets (casting sheets) and synthetic marble.
Kuraray Niigata Kasei ceased the manufacture of methacrylic resin cast sheets in March 2007 due to the transfer of its production base to a Kuraray subsidiary in China. Also, for the purpose of enhancing competitiveness, Kuraray Niigata Kasei's synthetic marble business was integrated into Kuraray's development divisions in April 2007. Reflecting these developments, it was decided that Kuraray Niigata Kasei would be absorbed by and merged into Kuraray.
|Board of Directors approved merger||July 19, 2007|
|Merger contract to be inked||August 1, 2007|
|Merger settlement||October 1, 2007|
|Merger registration||October 1, 2007|
Kuraray will be the surviving firm; Kuraray Niigata Kasei will be dissolved.
|Kuraray Co., Ltd. |
|Kuraray Niigata Kasei Co., Ltd. |
|1. Company name||Kuraray Co., Ltd.||Kuraray Niigata Kasei Co., Ltd.|
|2. Principal businesses||Manufacturing and sale of chemicals and resins, synthetic fibers and textiles, and other products||Manufacturing and processing of methacrylic resin|
|3. Established||June 1926||April 1968|
|4. Headquarters||1621, Sakazu, Kurashiki City, Okayama Prefecture||3696, Akagawa, Tainai City, Niigata Prefecture|
|5. President and representative director||Yasuaki Wakui||Susumu Gotanda|
|6. Capital||¥88,955 million||¥50 million|
|7. Shares issued and outstanding||382,863,000 shares||100,000 shares|
|8. Net assets||¥304,646 million||¥(279) million|
|9. Total assets||¥398,346 million||¥381 million|
|10. End of fiscal year||March 31||March 31|
|11. Major shareholders and their holdings|| |
Note: The surviving company is applied to regulations regarding consolidated dividend payment.