Citizen to Adopt Pure Holding Company System.Tokyo, Japan, Aug 3, 2006 - (JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) ) - Citizen Watch Co., Ltd. has resolved to begin preparations for a shift to a pure holding company system with a target date of April 1, 2007 at the meeting of the Board of Directors held on July 26. The shift is part of the group structural reform including the following: Stronger R&D, Growth strategy in Devices Business, strengthening of business structure, Industrial Machinery and Electronic Products, and overall expansion in size of the businesses, and stronger Head Office. Citizen plans to adopt divestiture provisions which will make Citizen Watch a holding company and other businesses as its subsidiaries. The new holding company will have functions necessary for group management and a public company such as Corporate Planning, Human Resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. , Accounting, Corporate Communications Corporate communications is the process of facilitating information and knowledge exchanges with internal and key external groups and individuals that have a direct relationship with an enterprise. and Investor Relations Investor relations The process by which the corporation communicates with its investors. to perform total optimization of the Group. The introduction of a pure holding company system will be implemented subject to the approval at the shareholders' meeting shareholders' meeting n. a meeting, usually annual, of all shareholders of a corporation (although in large corporations only a small percentage attend) to elect the Board of Directors and hear reports on the company's business situation. in December. Copyright [c] 2006 Japan Corporate News Network. All rights reserved. |
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