Itoki Corporation (president: Kiyotaka Kaneko) has announced that Itoki would change the corporate name of ISA (Suzhou) Store Fixture Co., Ltd., a consolidated subsidiary in China, and make it a fully owned one through the purchase of equity interest.
1. Reasons
(1) Corporate name change
Itoki is aiming to have it reflected on the change of items through the business expansion of such a company and raise its awareness as one of Itoki group companies.
(2) Purchase of equity interest (fully owned by Itoki Corp.)
Itoki is aiming to speed up a decision-making in Itoki group management on the ground that such a company starts to expand the business by the production and sales of office furniture, in addition to store fixtures, a main business.
2. Overview of relevant company
| (1) Name: |
ISA (Suzhou) Store Fixture Co., Ltd. |
| (2) Representative: |
Kazuhiko Nishitani |
| (3) Location: |
No. 222 Hufuhuang Road, Suzhang Village Liuhe Town
Taicang City, Jiangsu Province China |
| (4) Establishment: |
November 21, 2001 |
| (5) Main business: |
Produce, sell and install store fixtures, backroom fixtures and bundling materials and research and develop new products |
| (6) Capital: |
1 billion yen |
3. Summary of corporate name change
| (1) New Corporate Name: |
Itoki (Suzhou) Furniture Co., Ltd. |
| (2) Effective date: |
January 1, 2009 |
4. Summary of purchase of equity interest
| (1) Condition of Itokifs ownership |
| |
1. Ownership before equity transfer |
: 87.5% |
| |
2. Purchase of equity interest |
: 12.5% |
| |
3. Ownership after equity transfer |
: 100.0% |
| (2) Dates |
| |
1. December 12, 2008 |
Sign of Equity transfer agreement |
| |
2. Beginning January, 2009 |
Apply for company registration with local authority |
|
