Changes in Subsidiaries
1. Content of implementation
Merge three of 100 per cent subsidiaries of the Company, NSG Kanto Co., Ltd., NSG Tokai Co., Ltd. and NSG Kansai Co., Ltd. into a single company. As a consequence of this transaction, the sales of the surviving company ( NSG Kanto Co., Ltd. ) after merger will be more than 10 % of the purchase of the Company and the surviving company will be classified as a designated subsidiary per Article 19. of Cabinet Order for corporate information disclosure.
2. Date of implementation
1st April 2008.
3. Purpose of merger
To centralize the management of manufacturing and order entry, as well as to reduce overhead costs, to meet increasing requirements to enhance the competitiveness in the quality, price and timely delivery of insulated, laminated and tempered value-added building glass products.
4. Outline of the new company
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(1) Name
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To be decided
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(2) Share capital
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50 mil JPY
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(3) Name of representative
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To be decided.
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(4) Shareholder
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NSG (100 per cent)
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(5) Number of employees
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Around 720
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(6) Headquarters
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Ichihara city, Chiba Prefecture
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(7) Surviving company
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NSG Kanto Co., Ltd.
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(8) Business description
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Fabrication of insulated, laminated and tempered value-added building glass products.
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5. Outline of the subsidiaries involved
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NSG Kanto Co., Ltd.
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Share capital
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50 mil JPY
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Name of representative
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Shigeki Mori
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Number of employees
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Around 430
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Headquarters
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Ichihara city, Chiba Prefecture
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Business description
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Fabrication of insulated, laminated and tempered value-added building glass products.
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NSG Tokai Co., Ltd.
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Share capital
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50 mil JPY
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Name of representative
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Satoshi Honda
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Number of employees
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Around 90
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Headquarters
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Nagoya city, Aichi Prefecture
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Business description
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Fabrication of insulated, laminated and tempered value-added building glass products.
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6. The impact on the operating result
The impact of this merger on the Company's consolidated and non-consolidated results is not material