Casio 2011 Annual Report Download - page 47

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45
Annual Report 2011
Schedule of absorption-type company split between Casio Micronics and Teramikros
Board of Directors meeting to approve share transfer agreement
June 17, 2011 (Fri)
Date of signing of share transfer agreement
June 17, 2011 (Fri)
Establishment of Teramikros
July 20, 2011 (Wed) (scheduled)
Board of Directors meeting to approve absorption-type company split agreement
July 29, 2011 (Fri) (scheduled)
Date of signing of absorption-type company split agreement
July 29, 2011 (Fri) (scheduled)
Extraordinary General Meeting of Shareholders to approve absorption-type company split
July 29, 2011 (Fri) (scheduled)
Date of absorption-type company split (effective date)
October 1, 2011 (Sat) (scheduled)
Company split registration date
October 1, 2011 (Sat) (scheduled)
( ii) Method of the company split
The Company
A spin-off-type absorption company split (physical company split) is planned in which the WLP-related business of the
Company and Casio Micronics are the split company and Teramikros, which the Company will establish, is the succeeding
company.
Casio Micronics
A split-off-type absorption company split (personnel separation) is planned in which Casio Micronics is the split company
and Teramikros, which the Company will establish, is the succeeding company.
(iii ) Change in funds, etc. following the company split
There will be no change in the capital of the Company and Casio Micronics following the company split.
(iv ) Rights and obligations inherited by the succeeding company
As of the effective date of the company split, Teramikros will inherit the assets, liabilities and incidental rights and obligations of
the WLP-related business of the Company and Casio Micronics, as specified in the absorption-type company split agreement.
b. Overview of the parties to the company split
Name: Teramikros, Inc. (provisional name)
Capital: Undecided
Number of employees: Approx. 305 (including temporary employees)
c. Overview of the business division being split off
( i ) The Company
Business activities of the division being split off
WLP-related business (research/development)
Business results of the division being split off (year to March 2011)
As the division is an R&D division, no sales are recorded.
Monetary amounts of assets and liabilities being split off (as at March 31, 2011)
Millions of Yen
Thousands of
U.S. Dollars
Current assets ............................................................................................................................. ¥— $ —
Noncurrent assets ....................................................................................................................... 47 566
Total assets ................................................................................................................................. ¥47 $566
Current liabilities ......................................................................................................................... ¥76 $916
Noncurrent liabilities ................................................................................................................... — —
Total liabilities ............................................................................................................................. ¥76 $916
Note: The monetary amounts of the assets and liabilities being split off are estimates based on the balance sheet at March 31, 2011. The monetary
amounts of the assets and liabilities actually split off will differ due to fluctuations arising until the effective date. The above figures are rounded
off to the nearest million.