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OMRON Announces Dissolution of Subsidiary

FOR IMMEDIATE RELEASE June 18, 2008

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

Kyoto, Japan – OMRON Corporation (TOKYO: 6645)(ADR: OMRNY), a global leader in automation, sensing and control technology, decided today to dissolve its subsidiary PiTaPa-Goopas Co., Ltd. ("PTGP"). The details of the dissolution are as follows.

  1. Reason for Dissolution
    To date, PTGP has provided services related to automatic ticket gate-based information delivery for users of the "PiTaPa" IC card, which is issued mainly by railway companies in Japan's Kansai region. However, because PTGP could not ensure the profitability of its initial business plan and there is no prospect for improvement, OMRON has decided to dissolve the company.
  2. Company Profile
    (1)Trading name PiTaPa-Goopas Co., Ltd.
    (2)Headquarters 3-11-18 Minamisenba, Chuo-ku, Osaka 542-0081 Japan
    (3)Representative Hiroshi Kawakita, President
    (4) Description of business Provision of services related to automatic ticket gate-based information delivery
    (5)Date of establishment March 12, 2004
    (6)Capital JPY 100 million
    (7) Major shareholders and their equity participation OMRON Corporation: 65%, Surutto-Kansai Co., Ltd.: 35%
  3. Date of Dissolution
    July 31, 2008 (scheduled) Resolution to dissolve at extraordinary meeting of PTGP shareholders
     
    October 31, 2008 (scheduled) Completion of liquidation
  4. Forecast
    The effect on OMRON's consolidated and non-consolidated financial results for the fiscal year ending March 2009 will be minimal.
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