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March25, 2004
Torii Pharmaceutical Co., Ltd. |
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| Notice for Dissolution of a Subsidiary |
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| Torii Pharmaceutical Co., Ltd. announced that it passed a resolution
to dissolve its subsidiary Torii Business Service Co., Ltd. at the Board of Directors
Meeting on March 25, 2004. |
| 1. |
Overview of the Subsidiary |
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Trade name:
Location:
President:
Capital:
Fiscal term:
Shareholder structure:
Business: |
Torii Business Service Co., Ltd.
2183-1 Teranosaku, Oota, Sakura, Chiba
Shuichi Ishida
¥10 million
March
100% owned by Torii Pharmaceutical Co., Ltd.
Warehouse management including entering, dispatching, and packaging |
| 2. |
Reasons for Dissolution |
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This subsidiary was established to be engaged in
logistics operations, including the packaging of Torii's products, and has
been operating accordingly. Torii has recently changed its management policy for
logistics operations and has decided to outsource operations to a third party
starting May 2004 and to dissolve this subsidiary. |
| 3. |
Schedule for Dissolution |
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A resolution for dissolution is expected at the
Ordinary General Meeting of Shareholders in June 2004.
The liquidation is expected to be completed by September 2004. |
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The dissolution of the said subsidiary should little
affect our productivity. |
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