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) |
|---|---|---|
| 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% |