| 1. |
Summary of affiliated company to be transferred (as of March 31, 2005) |
| |
| (1)
Company name |
IT Agent Co., Ltd. |
| (2)
Representative |
Akio Eshi
President and chief executive officer |
| (3)
Location of head office |
4-4-6, Ebisu, Shibuya ward, Tokyo |
| (4)
Date of establishment |
April 7, 2000 |
| (5)
Main business |
Consulting services for IT-related services |
| (6)
Settlement period |
March 31 |
| (7)
Number of employees |
9 (as of August 31, 2005) |
| (8)
Location of main office |
Ebisu, Shibuya ward, Tokyo |
| (9)
Capital |
¥225 million |
| (10)
Outstanding shares |
4,500
shares |
| (11)
Percentages of major shareholders |
Daiwabo Information System Co., Ltd.
Future System Consulting Corp.
ITOCHU Corporation |
39%
34%
15% |
|
| (12)
Sales for the most recent accounting period |
¥15,77 million (Fisical year ending March, 2005) |
|
| 2. |
Number of voting rights held by Daiwabo Information System Co., Ltd. (hereinafter called DIS Co., Ltd.) and its ratio to the total number of voting rights before and after the transfer of affiliated company |
| |
| |
Before transfer |
After transfer |
| (1)
Number of voting rights held by
DIS Co., Ltd. |
1,755 |
0 |
| (Number of shares held by DIS Co., Ltd) |
(1,755) |
(0) |
| (2)
Total number of voting rights |
4,500 |
4,500 |
| (Number of outstanding shares) |
(4,500) |
(4,500) |
| (3)
Ratio of voting
rights held byDIS Co., Ltd to total
voting rights |
39.0% |
(39.0%) |
| (Ratio of shares held
by DIS Co., Ltd to total
outstanding shares) |
(39.0%) |
(0%) |
|
| 3. |
Reason for transfer |
| |
| We endeavored to develop business focusing on the provision of solutions for application service providers (ASP), website construction for electronic commerce (EC) and support for their operation. Although we worked hard to put these business lines on the track, it didn't work well. We therefore began our restructuring efforts aiming for success in our online sales (title of the website is "PASO Q") since the beginning of this fiscal year. The prospects of securing stable profits, however, was nowhere in sight. At that point, we were given the offer of acquisition of IT Agent Co., Ltd from Plaza Create Co., Ltd., and as a result of diligent consultation at the board of directors meeting, we decided to transfer IT Agent Corp. to Plaza Create Co., Ltd.. |
|
| 4. |
Transferee |
| |
|
| 5. |
Date for the delivery of share certificates |
| |
| September 12, 2005(scheduled date) |
|
| 6. |
Prospective influence on our business results |
| |
| This transfer is estimated to have a minor influence on our consolidated and non-consolidated business results for the current fiscal year. |
|
