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04/07/2006

Setting Up of a Chinese Subsidiary In Accordance With New Regulation

Hakuto Enterprises Ltd.(Hong Kong), an affiliate of Hakuto Co., Ltd., established Hakuto Trading (Shenzhen) Ltd. in Shenzhen, China for improved efficiency in existing business and sales expansion to Chinese customers, and held its opening ceremony on March 28th, 2006 to bring the company into a full-fledged business operation.

Context of the setup
Hakuto’s business hub in China has been granted approval to sell only in foreign currency in the bonded zone, and as such sales and service activities as well as business transactions in the local market have been banned in principle, making it difficult to reach and expand sales to Chinese customers, which is crucial for further developing business in Asia.

Background/purpose of the setup
Since China issued the Administration of Foreign Investment in Commercial Sectors Procedures in 2004 right after its accession to the World Trade Organization, Hakuto Enterprises Ltd, a subsidiary of Hakuto, got quick off the mark to apply for the incorporation of Hakuto Trading (Shenzhen) Ltd. as a logistics and technical services hub pursuant to the new law, and was granted approval by the Ministry of Commerce, PRC in October 2005.

With business transactions in RMB now made possible, acceleration in new customer acquisition and new market exploration holds promise. The establishment of the after-the-sale service house and warehouse house has made it possible to offer agile and highly precise customer services.

Outline
1. Company Name: Hakuto Trading (Shenzhen) Limited
2. Established: November 2005
3. Registered Capital: RMB5,000,000
4. Board of Director: Noriaki Tomioka
5. No. of Employee: 42

Scope of Business:
-Wholesale of Electronic Devices, Electronic Components and Optoelectronic Devices
-Wholesale of Environmental Friendly Refrigerant
-Provision of Commission Agency (excluding auction)
-Import & Export and other related service
-Provision of after-sales service and related technical advice service

Products:
Electronic Components & Material
-Semiconductor Devices & Optoelectronic Devices
-Integrated Circuit
-Terminal, Connectors & I/O Interface
-Switch & Power Supply
-Industrial Adhesive

Electronic and Electric Equipment
-Semiconductor Manufacturing Equipment
-Vacuum Pumps and Vacuum Equipment
-Equipment for Printed Circuit Board Assembly
-Scientific Instrument
-Testing Instrument

For more details, please contact:
Overseas Subsidiaries Management Div.
contact person: Shimizu
phone: +81-3-3225-8055/FAX: +81-3-3355-7682
e-mail Hakuto