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Itochu Corp to delist from Nagoya Stock Exchange,Fukuoka Stock Exchange and Sapporo Stock Exchange and announces change of subsidiary


Wednesday, 6 Aug 2014 03:00am EDT 

Itochu Corp:To be delisted from Nagoya Stock Exchange,Fukuoka Stock Exchange and Sapporo Stock Exchange to reduce cost.Company's stock remains trading on Tokyo Stock Exchange.Expects delisting in one month after moving to liquidation post.Says decided to increase the capital of an existing subsidiary for the purpose of acquiring shares of SKY Perfect JSAT Holdings Inc. and Fuji Media Holdings Inc to make investment in kind of shares of SKY Perfect JSAT Holdings Inc. to this subsidiary of Itochu Corp.Fuji Media Holdings to hold 37 pct stake in the target company after completion of capital increase and investment in kind, which is under tentative name of ITOCHU Fuji Partners, Inc.Itochu Corp to decrease ownship to 63 pct from 100 pct after completion of capital increase and investment in kind.