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07/30/2008

Notification of Opening Hakuto Hong Kong Chengtu Office

We are pleased to inform you that effective July 1, 2008, a new office, Hakuto Chengtu Representative Office, was established in Chengtu, Sichuan, China by Hakuto Enterprises Ltd.,(Main Office; Hong Kong. Established in November 1973. President; Norimichi Hada Capital; HK$22,025,000) which is a subsidiary company of Hakuto Co. Ltd.(Main Office; 1-1-1, Shinjuku, Shinjuku-ku, Tokyo, Japan. President; Ryuzaburo Sugimoto. Capital; \8,100 Million. TEL; 03-3225-8910. The company is listed on the Tokyo Stock Exchange’s First Section). The object of this new office is to fully commit ourselves to our business in the Sichuan region, more effectively meet the needs of our present customers, increase the number of new customers-both regional customers and foreign companies operating in China-and expand our business in the market area concerned.

Circumstances and object of opening new office

The Chinese economy has been rapidly expanding at an annual growth rate of more than 10%, but in the western region of this country where Chengtu is located, the economic development has been much slower than the coastal areas of China, and to eliminate such economic differentials between the developed areas and the slow developing areas, the Chinese Government started full scale development of the western region. And, after the Chinese Government revised the business tax law and the labor contract law, the labor cost of people in the developed coastal areas has been increasing extensively and as a result, many Japanese companies and foreign companies are now moving their business from the high labor cost coastal region to the western region where a more potential and promising market is expected in the near future.

We opened the Hakuto Chengtu Representative Office to expand our business in the Sichuan region, support our existing customers more effectively and increase new customers-both regional customers and potential foreign customers-in the market.


Location of Hakuto Hong Kong Chengdu Representative Office.

Address; Hakuto Enterprises Ld. -Chengdu Representative Office.
Room 2311 Huamin Empire Plaza Fuxing Road Chengdu 610016, China

Major line of business

*Market research for electronic/electric equipment and electronic parts.
*Liaison and communication with the other offices concerned.