For Reference Only:
Information regarding the Liquidation of a Subsidiary in Korea
Tokyo, September 30, 2008 - Following today's meeting of the Board of Directors, SANYO Electric Co., Ltd. (SANYO) made the decision to liquidate Korea Tokyo Silicon Co., Ltd., a SANYO consolidated subsidiary.
Outline of Korea Tokyo Silicon Co., Ltd.
Company Name: |
Korea Tokyo Silicon Co., Ltd. |
|---|---|
Place of Business: |
973-4, Yangduk-Dong, Masan, Kyungsangnam-Do, Korea |
Name of Representative: |
Masaharu Wataguchi |
Date of Establishment: |
December 1972 |
Capital: |
21.5 billion Korean won |
Acounting Term: |
March |
Main Shareholder(s): |
SANYO Semiconductor Co., Ltd.-99.36% |
Description of Business |
Hybrid IC, LSI manufacturing and sales |
Background and Reason for Dissolution
Korea Tokyo Silicon Co., Ltd. was established in 1972 as an overseas manufacturing assembly base for the semiconductor business, manufacturing Hybrid IC and LSI. However, the decision to dissolve the business is based on the realignment of the manufacturing assembly bases in the semiconductor business.
Schedule
- October 2008
- Resolution of Dissolution (tentative)
- February 2009
- Completion of Liquidation (tentative)
Regarding the forecast
The effects of the aforementioned dissolution on both the consolidated and non-consolidated results are expected to be insignificant.
