News Room 2006 (The former Furukawa-Sky)
Regarding the Selling of Stock in Yamada Light Metal Manufacturing Co., Ltd.
July 25, 2006
Furukawa-Sky hereby announces that as of July 25, 2006, it has sold 65,000 of the 88,000 shares (shareholding ratio: 55%) it held in its affiliate company, Yamada Light Metal Manufacturing Co., Ltd. (President: Mr. Takashi Yamada, Capital: 80 million yen, Head Office: Aisai City, Aichi Prefecture; Business Outline: production and sales of processed metal (mainly aluminum) products; Relationship with Furukawa-Sky Corporation: Yamada Light Metal Manufacturing Co., Ltd. uses our products as raw material and also processes and manufactures a portion of our products under consignment), to Yamada Light Metal Manufacturing Co., Ltd., its founder Mr. Takashi Yamada, and other current shareholders. As a result of this transaction, Yamada Light Metal Manufacturing Co., Ltd. is no longer a consolidated subsidiary of Furukawa-Sky Corporation. We will, however, maintain a cooperative relationship in the same manner as before and continue to make use of its location and facilities as one of our bases for the production of processed products.
Net Sales | : | 1,161 million yen (Year ended March 2006) |
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Operating Income | : | 18 million yen (Year ended March 2006) |
Net Income | : | 4 million yen (Year ended March 2006) |
Capital | : | 80 million yen |
Issued and Outstanding Shares | : | 160,000 shares |
Number of Shares Owned Prior to Sell-out | : | 88,000 shares |
Investment Ratio Prior to Sell-out | : | 55.00% |
Number of Shares Owned after Sell-out | : | 23,000 shares |
Investment Ratio after Sell-out | : | 19.66% |