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Asahi Kasei Corporation
Fibers & Textiles Company
2-6, Dojimahama, 1-chome, Kita-ku
Osaka 530-8205
Japan
Phone +81-(0)6-6347-3600
Fax +81-(0)6-6347-3635
fibtex-inquiry@om.asahi-kasei.co.jp
To Asahi Kasei Fibers & Textiles Customers:
August 2003
Re: Transformation to Holding Company Configuration
As decided and approved at its annual shareholders meeting on June 27, 2003, Asahi Kasei Corporation
("Asahi") will transform its existing division-based corporate and
group configuration to that of a holding company and seven constituent
corporations together with related subsidiaries and affiliates as of
October 1, 2003. In respect to our mutual agreements and transactions, the procedural adjustments
outlined in Sections 2 to 4 below will concurrently be necessary, in
conformity with the new configuration. It is our hope to better serve all of our customers, partners, and
associates under the new configuration. We regret any inconvenience related to these adjustments, and trust
in your understanding and consideration.
1.Essentials of transformation
(1)As of October 1, 2003, Asahi will become the holding company and sole
shareholder of the seven constituent corporations, to which all of
Asahi's core businesses will succeed as shown in this table.
| On and before Sept. 30 |
On and after Oct. 1 |
| Fibers & Textiles Company* |
Asahi Kasei Corporation |
| Chemicals & Plastics Company |
Asahi Kasei Chemicals Corporation |
| Performance Plastics & Compounds Company |
| Performance Chemicals Company |
| Specialty Products & Systems Company |
| Fabricated Home Products Company |
Asahi Kasei Life & Living Corporation |
| Construction Materials Company |
Asahi Kasei Construction Materials Corporation |
| Housing Company |
Asahi Kasei Homes Corporation |
| Electronics Company |
Asahi Kasei Electronics Materials & Devices Corporation |
| Health Care Company |
Asahi Kasei Pharma Corporation |
*The term "Company", as used in the names shown in this column, denotes the strategic business
units, or "internal companies", of Asahi Kasei Corporation in its
present configuration.
(2)As part of this transformation, all business and transactions
currently performed by Fibers & Textiles Company (the "Business")
of Asahi, including those with your company, will succeed to the new Asahi
Kasei Fibers Corporation ("AKFC").The transformation will generally not involve any change in our
contact personnel.
(3) Corporate profile of AKFC
| Name |
ASAHI KASEI CORPORATION |
| Main Businesses |
Production and sale of chemical fibers etc. |
| Home Office |
2-6, Dojimahama, 1-chome, Kita-ku, Osaka, Japan |
| President |
Masaki Sakamoto |
| Paid-in Capital |
3,000 million yen |
| Total Assets |
Approx. 89,400 million yen |
| Employees |
Approx. 1,500 |
| Shareholder |
Asahi Kasei Corporation(100%) |
2.Contracts and agreements between your company and Asahi
On October 1, AKFC will succeed
the Business as party to any and all contracts and agreements made
theretofore between your company and the Business, and thus relating to
their mutual business and transactions, including without limitation sales
agreements, distributorship agreements, license agreements, leasing
agreements, and so on, together with all rights and obligations relating
thereto or arising therefrom.
Should you have any question
concerning these matters, please do not hesitate to contact us at the
e-mail address shown in the letterhead.
Truly Yours
M.Sakamoto
President
Fibers & Textiles Company
Asahi Kasei Corporation
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