Notification of Synthetic Resin Business Integration
Dec. 16, 2001
TOKYO(Dec.6, 2001)--We herein announce that, as of today, Nissho Iwai Corporation, Nichimen Corporation and CHORI CO., LTD. concluded a basic agreement concerning the following points:
|1.||CHORI CO., LTD. will invest capital in Pla-Net Holding, Inc., a joint holding company in the synthetic resin business, which was established in March 2001 by Nissho Iwai Corporation and Nichimen Corporation.|
|2.||Pla-Net Holding, Inc. will take over CHORI's synthetic resin business.|
December 6, 2001
Nissho Iwai, Nichimen and CHORI concluded a basic agreement.
February 28, 2002
Operations pertaining to CHORI's synthetic resin business will be transferred to CHORI PLA-TECHNO CO., LTD. (a wholly-owned subsidiary of CHORI)
Pla-Net Holding, Inc. will transfer its stock to CHORI CO., LTD. (capital increase undertaking), and will obtain the entire stock of CHORI PLA-TECHNO CO., LTD. at the same time.