OMRON Announces Dissolution of Affiliated Company

Wed May 7, 2008 10:00pm EDT
 
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KYOTO, Japan--(Business Wire)--
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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*T
2. Company Profile

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(1) Trading name            Omron Precision Technology Hokuriku Co.,
                             Ltd.
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(2) Headquarters            108 Kamiumezawa, Namerikawa-shi, Toyama
                             936-0853 Japan
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(3) Representative          Isamu Horimoto, President
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                            Mass-production prototyping and mass
(4) Description of business  production of light guides, molded
                             frames, etc.
----------------------------------------------------------------------
(5) Date of incorporation   July 8, 1999
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(6) Capital                 JPY 30 million
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(7) Major shareholders and  100% owned by OPT
 their equity participation
----------------------------------------------------------------------

*T

   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.

OMRON Corporation
Taeko Ogose, +81-75-344-7175
General Manager
Corporate Communications Department

Copyright Business Wire 2008

 

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