Sharp 2009 Annual Report Download - page 64

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12. Significant Subsequent Events
(a) Outline of the Absorption-Type Corporate Split
(1) Method of the Absorption-Type Corporate Split
The Absorption-Type Corporate Split is a simplified absorption-type corporate split (“kani-kyushu-bunkatsu”), in which the Company
shall be the split company and Sharp Display Products Corporation shall be successor company.
(2) Substance of the Split-Related Allotment of Shares
Sharp Display Products Corporation shall issue common stock of 2,638,000 shares and allocate and deliver all of the shares to the Com-
pany at the time of the Absorption-Type Corporate Split.
(b) Outline of Parties Involved in the Absorption-Type Corporate Split
Corporate Name Sharp Corporation
(Split Company)
Sharp Display Products Corporation
(Successor Company)
Head Office 22-22, Nagaike-cho, Abeno-ku, Osaka
City, Japan
1, Takumi-cho, Sakai-ku, Sakai City,
Osaka Prefecture, Japan
Name and Title of Representative Mikio Katayama, President & COO Hiroshi Saji, President
Capital ¥204,675 million ¥100 million
($2,110,052 thousand) ($1,031 thousand)
Net Assets ¥985,550 million ¥100 million
($10,160,309 thousand) ($1,031 thousand)
Total Assets ¥2,381,729 million ¥100 million
($24,553,907 thousand) ($1,031 thousand)
Principal Business Production and sales of electric
communication equipment, electric
equipment, electronic application
equipment in general and
electronic components
Production and sales of LCD
(Note) The outline of Sharp Corporation (split company) is as of March 31, 2009, and the outline of Sharp Display Products Corporation (successor company) is as
of April 1, 2009 (date of incorporation).
(c) Outline of Business Division to be Split
(1) Operating Results of Business Division to be Split as of Fiscal Year ended March 2009
There is no record of operating results because this shall start in fiscal year 2009.
(2) Items and Amounts of Assets and Liabilities to be Split
Item Book Value Item Book Value
Assets ¥182.3 billion Liabilities ¥50.4 billion
($1,879 million) ($520 million)
(Note) The book value of assets and liabilities mentioned above are calculations based on balance sheets and other factors as of March 31, 2009. The amounts
of assets and liabilities to be actually split may be different from the figures mentioned above due to increases or decreases occurring prior to the effective
date of the Absorption-Type Corporate Split.
(d) Schedule Date of the Absorption-Type Corporate Split
July 1, 2009 (Planned)
The Company decided, at the Board of Directors Meeting held
on May 15, 2009, to have Sharp Display Products Corporation,
a wholly owned subsidiary of the Company, succeed to the
production and sales business of large-sized LCD panels and
LCD modules at the new LCD plant now under construction by
the Company in Sakai City, Osaka Prefecture, Japan by way of
an absorption-type corporate split (“Absorption-Type Corporate
Split”) effective July 1, 2009, and entered into the Absorption-
Type Corporate Split Agreement with Sharp Display Products
Corporation as explained below.
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