Business Services Industry

OMRON Announces Dissolution of Affiliated Company

Business Wire, May 8, 2008

KYOTO, Japan -- OMRON Corporation (TOKYO:6645)(ADR:OMRNY), a global leader in automation, sensing and control technology, and Omron Precision Technology Co., Ltd. ("OPT"), a wholly owned subsidiary of OMRON Corporation, decided today to dissolve Omron Precision Technology Hokuriku Co., Ltd. ("OPT Hokuriku"), a wholly owned subsidiary of OPT. The details of the dissolution are as follows.

1. Reason for Dissolution

As a wholly owned subsidiary of OPT, OPT Hokuriku has been engaged mainly in the mass-production prototyping and mass production of light guides and molded frames for backlights to be marketed in Japan. However, in response to changes in the business environment, such as the overseas relocation of OPT Hokuriku's customers, the decision was made to dissolve OPT Hokuriku.

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3. Date of Dissolution

September 30, 2008 (scheduled): Resolution to dissolve at OPT Hokuriku Board of Directors Meeting

December 22, 2008 (scheduled): Completion of liquidation

4. Forecast

The effect on OMRON's consolidated and non-consolidated financial results for the fiscal year ending March 2009 will be minimal.

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COPYRIGHT 2008 Gale, Cengage Learning
 

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