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| Information regarding the Liquidation of a Subsidiary |
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TOKYO, Japan---December 26, 2006--- Following today’s meeting
of the Board of Directors, SANYO Electric Co., Ltd. (SANYO) came to
the decision to liquidate Qingdao SANYO Electric Co., Ltd., a wholly-owned
consolidated subsidiary of SANYO.
1. Summary of aforementioned consolidated subsidiary
| Name of Company: |
Qingdao SANYO Electric Co., Ltd. |
| Location: |
Qingdao Economic Technology Development Zone
Shandong, People’s Republic of China |
| Name of Representative: |
Yoshitaka Muraoka |
| Date of Establishment: |
May 2002 |
| Capital: |
2.65 billion yen |
| Settlement Term: |
December |
| Principle Shareholder: |
100% owned by SANYO Electric Co., Ltd. |
| Description of Business: |
Production and sales of reciprocating compressors for refrigerators |
2. Background leading to the liquidation
As part of the structural transformation of SANYO’s compressor
business and the strategy to concentrate resources on rotary- and
scroll-type compressors, which both have growth potential and competitive
strength, it was decided that at this time Qingdao SANYO Electric
should be liquidated.
3. Schedule
| December 2006 |
Liquidation Decision (planned) |
| October 2007 |
Complete Liquidation (planned) |
4. Regarding the forecast
The forecast for performance will not be affected by the liquidation
of the aforementioned subsidiary. |
| For Press Contact: (English Only): |
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SANYO Electric Co., Ltd.
Corporate Communications Headquarters
Tel: +81-3-6414-8615
Fax: +81-3-6414-8720
E-mail: r.sedgwick@sanyo.co.jp |
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