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| PENTAX Corporation announces that its board of directors decided today to liquidate PENTAX Technology Taiwan Co., Ltd., its wholly owned consolidated subsidiary based in Taipei, Taiwan. |
- Reason for liquidation :
PENTAX has concluded that the subsidiary has completed its mission within the PENTAX group and should be liquidated. PENTAX, however, continues organic EL (electroluminescence) displays′ research and development activities at application phase in Japan.
- Overview of the company to be liquidated :
- Company name : PENTAX Technology Taiwan Co., Ltd
- Address : 13FL, No.159, Keelung Rd., Sec.1, Taipei, Taiwan R.O.C
- Foundation : January 2004
- Representative : Takanobu Shiokawa
- Main Business : Research and development of organic EL displays
- Capital : Six million Taiwanese dollars
- Shareholders : 100% owned by PENTAX Corporation
- Loss resulting from liquidation :
Since this subsidiary was quite small in size, minimal loss is anticipated.
- Timeframe of liquidation :
The liquidation process will be completed by the end of September 2007.
- Effects on PENTAX business performance :
There are no anticipated effects on PENTAX′s consolidated financial results after the current fiscal year (ending March 2008).
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