Notice of Dissolution of Subsidiary
FOR IMMEDIATE RELEASEDecember 6, 2007
Company name: | OMRON Corporation |
---|---|
President and CEO: | Hisao Sakuta |
Stock ticker number: | 6645 |
Stock exchanges: | Tokyo, Osaka, Nagoya (First Sections) |
Contact: | Taeko Ogose, General Manager Corporate Communications Department |
Phone: | +81-75-344-7175 |
OMRON Corporation (TOKYO: 6645, ADR: OMRNY; 'OMRON'), a global leader in automation, sensing and control technology, has resolved at a Board of Directors meeting held on December 6 to dissolve its wholly-owned subsidiary, OMRON Entertainment Co., Ltd. ('OJE') as of December 10, 2007.
- Reason for Dissolution
OJE was originally established in July 2003 when OMRON spun off its entertainment business to form a wholly-owned subsidiary. OJE has been engaged in the development, manufacture and sales of commercial game machines such as photo sticker vending machines. However, since OJE's business was transferred to a third party in April 2007 and there are no new plans for business activities at OJE, OMRON has decided to dissolve the company.
- Company Profile
- (1) Trading Name
- OMRON Entertainment Co., Ltd.
- (2) Location
- 2-3 Uguisudani-cho, Shibuya-ku, Tokyo
- (3) Representative
- Kazunobu Amemiya
- (4) Business Line
- Development, manufacture and sales of commercial game machines
- (5) Date of Establishment
- July 1, 2003
- (6) Capital
- JPY 400,000,000
- (7) Shareholders
- Wholly-owned by OMRON Corporation
- Schedule (subject to change)
- December 10, 2007
- Resolution to dissolve at extraordinary meeting of OJE shareholders
- February 2008
- Completion of liquidation
- Forecast
The effect to OMRON's consolidated and non-consolidated financial results for the fiscal year ending March 2008 will be minimal.