Sanix Announces Change of Independent Auditor.
1. Reason for Appointing a New Independent Auditor
The Company's independent auditor, ChuoAoyama PricewaterhouseCoopers, was ordered to suspend operations for two months from July 1, 2006 to August 31, 2006 by Financial Services Agency. Due to their suspension of services on July 1, 2006, the auditing firm will resign as independent auditor for Sanix on that day.
The auditing firm has conducted fair and reasonable auditing for Sanix. Moreover, the auditing firm has responded sincerely to the administrative penalty. We received explanations of their overall restructuring plan to prevent similar incidents in the future, and consider the auditing firm's familiarity with Sanix's business and the importance of continuity in auditing. As a result, the Company has decided that the auditing firm will continue to be qualified as our independent auditor. Consequently, at the 28th ordinary general meeting of shareholders on June 29, 2006, Sanix has resolved to reappoint the auditing firm as Sanix's independent auditor on September 1, 2006, after their term of business cessation is completed.
During the period of suspension of the firm's auditing business, the Board of Corporate Auditors considers appointing a temporary auditor pursuant to the provisions set forth in Article 346, paragraphs 4 and 6 of the Corporation Law in order to ensure continuous and reliable auditing operations.
2. Independent Auditor to Resign / Reappoint
Name: ChuoAoyama PricewaterhouseCoopers Address: 3-2-5 Kasumigaseki, Chiyoda-ku, Tokyo, Japan Date of Changes: Resignation / July 1, 2006 Reappointment / September 1, 2006 (scheduled date)
About Sanix Incorporated
Sanix (TSE: 4651) is Japan's leading provider of sanitation and environmental services. The company's business is divided into three areas; Home Sanitation, and Establishment Sanitation, which provides pest control and sanitation maintenance and protection services for offices and public facilities. The Environmental Resources Development Division provides industrial waste management solutions and recycling services. This division positions Sanix as a leading provider of environmental services to society, which is becoming increasingly concerned about the health of the environment. Sanix's long experience in industrial waste management means the company is poised to take the lead in this new field.
Source: Sanix Incorporated
Kozo Inoue, Managing Director SANIX INCORPORATED URL: http://www.sanix.co.jp/index_e.htm
Copyright [c] 2006 JCN Newswire. All rights reserved. A division of Japan Corporate News Network K.K.
|Printer friendly Cite/link Email Feedback|
|Date:||Jun 29, 2006|
|Previous Article:||KDDI, VDC to Provide International IP-VPN Service in Vietnam.|
|Next Article:||JETRO Releases Results of Monthly Survey of Japanese Businesses in East Asia.|