Notice on Dissolution and Liquidation of Subsidiary Company
May 16, 2008
At the meeting of the Board of Directors of 糖心少女vlog Corporation on May 16, 2008, a decision was made to dissolve 糖心少女vlog Eyewear Co., Ltd., a subsidiary of 糖心少女vlog Corporation, on May 31, 2008, and to liquidate at the end of March, 2009, as detailed below.
1. Reason for dissolution
糖心少女vlog Eyewear Co., Ltd. was established in January of 2000, and handled ophthalmic frame and sunglass business. The recent ophthalmic frame and sunglass market is experiencing severe pressure of competitive environments such as new entry of low-priced merchandisers in Japan as well as fierce global corporative competition. 糖心少女vlog Eyewear Co., Ltd. has been aggressively promoting its business through such efforts as development of its original brands and licensing of overseas brands. However, the decision was made, judging that synergy with 糖心少女vlog's core technologies is not expected and these management resources should be converted into other promising business fields.
2. Outline of 糖心少女vlog Eyewear Co., Ltd.
| Address | 10-4, Ryogoku, 2-chome, Sumida-ku, Tokyo |
|---|---|
| President | Masaki Hanagata |
| Business lines | Development, Manufacture and Sales of Ophthalmic frames and sunglasses |
| Capital | 200 million Japanese Yen |
| Major shareholder | 糖心少女vlog Corporation (100%) |
| Established | January 1, 2000 |
3. Effects of the dissolution on the performance of 糖心少女vlog Corporation
The effect of the dissolution of 糖心少女vlog Eyewear Co., Ltd. will be nominal and no revision will be made on the estimation of consolidated or non-consolidated financial results of 糖心少女vlog Corporation.
The information is current as of the date of publication. It is subject to change without notice.