HOME > News Release > 2006 > Conversion to Exclusive Ownership, Capital Increase and Change of Name for ADK Subsidiary in Shanghai, China.
Asatsu-DK Inc.
Koichiro Naganuma, President
Securities Code: 9747 (First Section, TSE)
December 26, 2006
Koichiro Naganuma, President
Securities Code: 9747 (First Section, TSE)
December 26, 2006
Conversion to Exclusive Ownership, Capital Increase and Change of Name for ADK Subsidiary in Shanghai, China
On December 6, 2006, Asatsu-DK Inc.
(ADK) acquired a 30.6% stake in Shanghai Dai-Ichi Kikaku Fortune
Advertising Co., Ltd., from ADK's Chinese partner, Shanghai Fortune
Advertising Co., LTD., converting Shanghai Dai-Ichi Kikaku Fortune
Advertising to a wholly owned subsidiary of ADK.
In addition, on January 1, 2007, ADK will add US$2.9 million in capital, raising the subsidiary's capitalization to US$3.4 million. At that time, company's name will change to ASATSU Century (Shanghai) Advertising Co., Ltd.
The conversion to exclusive ownership is designed to enhance the managerial freedom of the company. This move, coupled with a capital increase, will position the company to respond more swiftly and flexibly in response to the needs of client corporations developing in Chinese advertising market.
Outline of ASATSU Century (Shanghai) Advertising Co., Ltd.
Contact:
Yajima, Todoroki
Corporate Communications Group
Phone: +81-3-3547-2003
In addition, on January 1, 2007, ADK will add US$2.9 million in capital, raising the subsidiary's capitalization to US$3.4 million. At that time, company's name will change to ASATSU Century (Shanghai) Advertising Co., Ltd.
The conversion to exclusive ownership is designed to enhance the managerial freedom of the company. This move, coupled with a capital increase, will position the company to respond more swiftly and flexibly in response to the needs of client corporations developing in Chinese advertising market.
Outline of ASATSU Century (Shanghai) Advertising Co., Ltd.
| Location: | 9F Yongxin Mansion, No.887, Huaihai Zhong Lu, Shanghai, 200020, China |
| Establishment: | December 6, 2006 (Shanghai Dai-Ichi Kikaku Fortune Advertising Co., Ltd. established April 8, 1996) |
| Capital: | US$3,400,000 |
| Ownership: | 100% owned by ASATSU-DK INC. |
| Chairman: | Masao Inagaki |
| Employees: | 90 |
| Operations: | Advertising, sales promotion and various other communications services |
Contact:
Yajima, Todoroki
Corporate Communications Group
Phone: +81-3-3547-2003
