OMRON Announces Transfer of Consolidated Subsidiary.Tokyo, Japan, Feb 23, 2007 - (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) Newswire) - OMRON Corporation (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : 6645; ADR ADR - Astra Digital Radio : OMRNY; hereafter In the future. The term hereafter is always used to indicate a future time—to the exclusion of both the past and present—in legal documents, statutes, and other similar papers. , 'OMRON'), a global leader in automation, sensing and control technology, has announced that it has reached an agreement to transfer its wholly-owned subsidiary, Omron Entertainment Co., Ltd. ('OJE'), to Furyu Holdings Corporation. 1. Background & Purpose OJE OJE Organización Juvenil Española (Spain) OJE Operation Joint Endeavor OJE On the Job Experience OJE Own Jamming Excision was established in July 2003 when OMRON spun off its entertainment business to form a separate, wholly-owned subsidiary. OJE's business comprises three main segments: (1) the development, manufacture and marketing of photo sticker vending machines vending machine, coin-operated, automatic device for selling goods. Many vending machines are capable of making change, and some of the more sophisticated ones accept paper money or credit cards. and other commercial games; (2) the provision of content, such as 'decoration mail', for mobile applications; (3) the provision of prizes for crane redemption games. Based on its policy of concentrating management resources in its core business domains, OMRON has decided that there is no longer significant synergy between its main businesses and OJE. As a result, OMRON has resolved to transfer OJE in an arrangement whereby OJE's current management will hold a majority share of the transferred company's stock. 2. Details of the Transfer All assets and liabilities associated with the business are to be transferred. Assets (all assets excluding cash and cash equivalents and loans within the Group) - Current Assets Current Assets Appearing on a company's balance sheet, it represents cash, accounts receivable, inventory, marketable securities, prepaid expenses, and other assets that can be converted to cash within one year. Accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying , inventory assets, other - Tangible Fixed Assets fixed assets npl → activo sg fijo fixed assets npl → immobilisations fpl fixed assets fix npl → Buildings, machinery & equipment, other - Intangible Fixed Assets Patents, software, other - Investments Investment securities, long-term prepaid expenses Prepaid Expense An asset that arises on a balance sheet because of the payment of something in advance (prepayment). Services for the payment will be received in the near future. , other Liabilities (all liabilities excluding corporate, enterprise, and consumption taxes payable, and reserve for retirement allowance) - Trade payables, accrued liability, accrued expenses Accrued Expense An accounting expense recognized in the books before it is paid for. It is a liability, usually current. These expenses are typically periodic and documented upon a company's balance sheet due to the high probability of collection. , other 3. Overview of OJE
1. Trading Name Omron Entertainment Co., Ltd.
2. Major Business Lines Development, manufacture and sales of
commercial game machines
Development, manufacture and sales of
prizes for commercial game machines
Mobile content provision (photograph storage,
decoration mail, etc.)
3. Representative Yoshiro Tasaka
4. Date of Establishment July 1, 2003
5. Location 2-3 Uguisudani-cho, Shibuya-ku, Tokyo
6. Number of Employees 84 (as of September 30, 2006)
7. Capital 400 million JPY
8. Annual Sales 10.8 billion JPY
9. Major shareholders OMRON Corporation (100%)
and holdings
4. Overview of Furyu Holdings Corporation
1. Trading Name FURYU HOLDINGS CORPORATION
2. Major Business Lines Development, manufacture and sales of
commercial game machines
Development, manufacture and sales of
prizes for commercial game machines
Mobile content provision (photograph storage,
decoration mail, etc.)
3. Representative Yoshiro Tasaka
4. Location 2-3 Uguisudani-cho, Shibuya-ku, Tokyo
5. Schedule February 23, 2007 Preliminary agreement on transfer of business March 9, 2007 (planned) Conclusion of business transfer contract April 1, 2007 (planned) Transfer of business 6. Forecast There will be negligible effect to OMRON's consolidated and non-consolidated financial results for the fiscal year ending March 2007. About OMRON Corporation Headquartered in Kyoto, Japan, OMRON Corporation is a global leader in the field of automation. Established in 1933 and headed by President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Hisao Sakuta, OMRON has more than 30,000 employees in over 35 countries working to provide products and services to customers in a variety of fields including industrial automation, electronic components, social systems (ticket gate machines, ticket vending machines, and traffic control), and healthcare. The company is divided into five regions and head offices are in Japan (Kyoto), Asia Pacific (Singapore), China (Shanghai), Europe (Amsterdam) and US (Chicago). For more information, visit OMRON's website at www.omron.com Source: OMRON Corporation Contact: James Seddon (james_seddon@omron.co.jp) Sarah Hall (sarah_hall@omron.co.jp) OMRON Corporate Brand Communications Department Tel: +81-3-3436-7202 Copyright [c] 2007 JCN Newswire. All rights reserved. A division of Japan Corporate News Network K.K. |
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