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Press Release
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March. 15, 2004
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To Whom It May Concern:
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Funai Electric Co., Ltd.
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Representative: Tetsuro Funai, President and CEO
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(Code No. : 6839 1st section of TSE/OSE)
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Inquires: Toshihiko Morita, General Manager
General Administration Department
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(Tel: 81-72-870-4304)
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Notice of Dissolution of Subsidiary
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A decision to dissolve one of our consolidated subsidiaries, Daisho Electronics Co., Ltd. on February 27, 2004 was arrived at its special shareholder’s meeting on the same date.
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1. Reason of Dissolution
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Daisho Electronics Co., Ltd. has been broadening the development, manufacture and sale of small electric motors. However, the business environment around the company was increasingly getting tougher.
After having serious considerations on the future directions of the business in a variety of angles, we made the decision of the dissolution based on our judgement that the continuing business is difficult.
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2. Outline of Daisho Electronics Co., Ltd.
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(1) Address: 4-11-5 Sotokanda Chiyoda-ku Tokyo Japan
(2) President: Yukimi Hirose
(3) Established: June 7, 2001
(4) Business Line: Development, Manufacture and Sale of Small Motor
(5) Number of Employees: 29
(6) Paid in Capital: JPY 490 million
(7) The Main Shareholder: 93.3 % held by Funai
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3. Perspective for the future
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Whenever Funai’s business performance results in being revised due to the dissolution of the subsidiary, we shall announce it immediately.
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