Square Enix 2007 Annual Report Download - page 51

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49
[Related Party Transactions]
• FY2005 (April 1, 2005 to March 31, 2006)
None
• FY2006 (April 1, 2006 to March 31, 2007)
(1) Major Director and Individual Shareholders
Concurrent Transaction Balance at
Capital or investment Details of business Voting rights (%) Director Business Transaction amount the end of year
Attribute Name Location (Millions of yen) or occupation (Millions of yen) positions relationship details (Millions of yen) Category (Millions of yen)
Director of the
Company, President Consulting fees
Director Makoto Naruke ——
and Representative
———
to ASPIRE 4
——
Director of ASPIRE CORPORATION
CORPORATION
Note:1. The terms of the transaction and method of determining the terms and prices of the transaction were determined after
receiving individual estimates used to determine market rates.
Relationships
Business separations
FY2005 (April 1, 2005 to March 31, 2006)
Not applicable
• FY2006 (April 1, 2006 to March 31, 2007)
During the year, the Company transferred the commercial
karaoke-on-demand business of TAITO CORPORATION, a con-
solidated subsidiary.
1. Name of the recipient company
XING INC.
2. Details of the business separation
The commercial karaoke-on-demand business of TAITO
CORPORATION, a consolidated subsidiary.
3. Reasons for the business separation
Since TAITO CORPORATION was included in consolidation
in September 2005, the Company has considered medium- to
long-term growth strategies for the entire Group. One of the
conclusions reached through this process was that the sale of
TAITO CORPORATION’s commercial karaoke-on-demand busi-
ness to XING INC. would contribute to raising the corporate
value of the Group.
4. Date of business separation
July 3, 2006
5. Overview of business separation
At a meeting of its Board of Directors held on April 27,
2006, TAITO CORPORATION approved a resolution to transfer
its commercial karaoke-on-demand business to XING INC. This
business was spun off as a new company, and all shares of the
new company were sold to XING INC.
6. Change in equity of affiliated companies and method of
accounting
Not applicable
7. Name of separated business
AM (Amusement) and Others
8. Overview of losses recorded in the consolidated financial
statements for the year ended March 31, 2007 as a result of
the business separation:
Net sales ¥1,248 million
Operating loss ¥97 million
Ordinary loss ¥217 million
15-52_07ｽｸｴﾆ欧文 07.8.31 14:29 ページ49