At the meeting of the CCS Inc. Board of Directors
held September 8, 2004, the Board decided to purchase the issued
and outstanding shares of CCS Inc.fs distributor, RDV(S) Pte Ltd.,
making the latter a wholly owned subsidiary. Details are summarized
below.
1. Overview of the company to be made a subsidiary:
(1) Company name:
RDV(S) Pte Ltd.
(2) Date established: December 12, 1995
(3) Location of headquarters: 63 Hillview Avenue #02-06a, Lam Soon
Industrial Bldg., Singapore
(4) Representatives: Chen Seok Keong, Ong Ai Hoon
(5) Capital: S$50,000
(6) Shareholders: Chen Seok Keong (50%), Ong Ai Hoon (50%)
(7) Lines of business: Manufacture and sale of machine-vision-related
products
(8) Fiscal year ends: July
(9) Number of employees: Seven
(10)Total number of shares issued and outstanding: 50,000
(11)Trends in business performance over the most recent fiscal years:
(Units: thousands yen)
|
FY 2002 ending in December |
FY 2003 ending in December |
| Sales |
175,192 |
200,777 |
| Gross profit on sales |
62,349 |
66,215 |
| Operating income |
1,159 |
9,730 |
| Ordinary income |
6,884 |
9,341 |
| Total assets |
66,176 |
77,685 |
| Shareholders' equity |
19,470 |
27,508 |
Note: The above figures were calculated using the exchange rate
S$1 = 65 yen.
2. Reasons for this acquisition of shares:
CCS Inc. has entrusted its distributor RDV(S) Pte Ltd. with sale
of its products in the Southeast Asia region. However, in addition
to the intensification of competition in Southeast Asia as plants
of firms from developed nations advance into the region, major expansion
in the regionfs market is anticipated. For this reason, RDV(S) Pte
Ltd. will be made a subsidiary for the purposes of realizing unified
global marketing for the CCS Inc. group and of expanding business
lines, through enhancing the business services provided to counterparties
and shortening delivery times by implementing local production of
special-order products.
3. Number of shares acquired, acquisition price, and share ownership
before and after this acquisition:
(1) Shares owned before this acquisition: 0 (ownership ratio: 0.0%)
(2) Number of shares acquired: 50,000
(3) Shares owned after this acquisition: 50,000 (ownership ratio:
100.0%)
(4) Acquisition price: 78 million yen
4. Method of acquiring shares:
Transfer from current shareholders
Date of transfer of shares: September 30, 2004
5. Future projections:
Although as a result of this acquisition RDV(S) Pte Ltd. will become
a subsidiary subject to consolidation beginning this fiscal year,
it will have only insignificant effects on consolidated business
performance figures for this fiscal year.
