March 22, 2007
Kuraray Co., Ltd.
T. Chatani & Co., Ltd.
In October 2005, Kuraray Co., Ltd. (headquarters: Chiyoda-ku, Tokyo; President: Yasuaki Wakui; hereafter "Kuraray") and T. CHATANI & CO., LTD. (headquarters: Chuo-ku, Osaka City; President: Yasuhiro Chatani; hereafter "CHATANI & CO.") entered into the collaborative development of ultra-bright, inorganic EL (electroluminescence) light-emitting materials, a world-first technology pioneered by CHATANI & CO. In April 2006, these companies together established the joint-venture company K•C Luminas Co., Ltd. (hereafter "K•C Luminas") with the aim of advancing the development of display light sources.
K•C Luminas, however, fell short of its expected development phase scheduling, failing to meet its target for the commencement of sample shipments in the fall of 2006. In light of this, Kuraray announces it will position K•C Luminas under its umbrella based on the following measures and with the aim of bolstering the company's development prowess.
On February 23, 2007, Kuraray and CHATANI & CO. executed a change in the ratio of capital investment in the joint-venture company K•C Luminas from 50:50 to 90:10. In line with these changes, K•C Luminas will also undergo a company name change on April 1, 2007, to KURARAY LUMINAS CO., LTD. At the same time, Kuraray will take steps to strengthen the company's product development structure.
|Company name||K•C Luminas Co., Ltd.|
|Representative||Noriaki Yoshimura, President (Kuraray Director)|
|Location||Ote Center Bldg., 1-1-3 Otemachi, Chiyoda-ku, Tokyo (Within Kuraray's Tokyo headquarters)|
|Capital||¥400 million (Kuraray 50%, CHATANI & CO. 50%)|
|Company name||KURARAY LUMINAS CO., LTD.|
|Representative||Koichi Kushida, President (Former Kuraray Senior Managing Director)|
Ote Center Bldg., 1-1-3 Otemachi, Chiyoda-ku, Tokyo (Within Kuraray's Tokyo headquarters)
|Capital||¥400 million (Kuraray 90%, CHATANI & CO. 10%)|
Based on the new company framework detailed above, Kuraray and CHATANI & CO. will work toward accelerating product development, establishing new technologies and gaining a keener awareness of business prospects for the future.
|Headquarters||1-1-3 Otemachi, Chiyoda-ku, Tokyo|
|Capital||¥89.0 billion (as of September 30, 2006)|
|Principal businesses||Manufacture and sale of synthetic resins, chemicals, fibers and textiles|
|Headquarters||1-8-15 Azuchimachi, Chuo-ku, Osaka City|
|Capital||¥310 million (as of September 30, 2006)|
|Principal businesses||Import, export and domestic trading of cars, tires, industrial equipment and machinery, distribution and cargo machinery, electric and electronic devices, tools and ironware, lumber, building materials, lifestyle-related products, and food products|