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TOKYO, December 8, 2003 - At a meeting on December 8, 2003, the board of directors of CSK CORPORATION ("CSK") agreed to transfer 39,148,600 shares held in SEGA CORPORATION to Sammy Corporation. This agreement follows ongoing consideration by CSK with regard to management of its holding of SEGA CORPORATION shares.
1. Outline of SEGA CORPORATION
| (1) |
Company name |
SEGA CORPORATION |
| (2) |
Representative |
Mr. Hisao Oguchi, President and Representative Director |
| (3) |
Headquarters |
1-2-12 Haneda, Ohta-ku, Tokyo |
| (4) |
Established |
June 3, 1960 |
| (5) |
Main business |
Comprehensive consumer product, amusement machine sales, and amusement center operations |
| (6) |
Number of employees |
851 (as of March 31, 2003) |
| (7) |
Capital |
¥127,582 million (as of March 31, 2003) |
| (8) |
Number of shares outstanding |
174,945,690 (as of March 31, 2003) |
| (9) |
Principal shareholders and percentage held (as of March 31, 2003) |
Shareholder
CSK
SEGA CORPORATION
Bank of New York for Goldman
Sachs International (Equity)
Japan Securities Finance Co., Ltd.
O.S. Capital |
Shares (1,000 shares)
39,148
19,904
6,289
4,751
3,384
|
Percentage
22.4%
11.4%
3.6%
2.7%
1.9%
|
| (10) |
Recent performance
Net sales
Operating income
Net income (loss)
|
Year ended March 31, 2002
¥206,334 million
¥12,471 million
(¥17,829 million)
|
Year ended March 31, 2003
¥197,223 million
¥7,783 million
¥3,054 million
|
| (11) |
Relationship with CSK
Capital relationship
Management personnel
Transactions
|
CSK holds 22.4% of shares outstanding
One representative director is also a representative director of CSK; one representative director is also an employee of CSK; one auditor is also a consultant to CSK
Provision of IT services operations, other. |
2. Outline of Sammy Corporation
| (1) |
Company name |
Sammy Corporation |
| (2) |
Representative |
Mr. Hajime Satomi, President and Chief Executive Officer |
| (3) |
Headquarters |
2-23-2 Higashi Ikebukuro, Toshima-ku, Tokyo |
| (4) |
Established |
November 1, 1975 |
| (5) |
Main business |
| º |
Development, manufacture, and marketing of pachinko, pachislot, arranged-ball, and jankyu machines, and related equipment |
| º |
Manufacture and marketing of electronic game machines; development and marketing of home video game software |
| º |
Marketing, leasing, and importing and exporting of game equipment |
|
| (6) |
Number of employees |
884 (as of March 31, 2003) |
| (7) |
Capital |
¥8,017 million (as of March 31, 2003) |
| (8) |
Number of shares outstanding |
53,521,400 (as of March 31, 2003) |
3. Outline of transaction
| (1) |
Number of shares held prior to transaction |
39,148,688 (22.4%) |
| (2) |
Number of shares to be transferred (Transaction sum) |
39,148,600(¥45,334 million) |
| (3) |
Number of shares held post transaction* |
88 (0.0%) |
* The remaining 88 shares will be sold soon after the main transaction, after which, the number of shares held will be zero.
4. Schedule
December 8, 2003: Signing of share transfer agreement with Sammy Corporation
5. Effect on business results for year ending March 31, 2004
Completion of this transaction will result in SEGA CORPORATION being removed from the section of CSK's consolidated accounts for affiliated companies accounted for by the equity method. Extraordinary income of ¥19.1 billion will be recorded at the parent level and ¥17.0 billion at the consolidated level, both excluding transaction costs.
Any impact on full year forecasts will be announced as soon as practicable after confirmation of the figures and consideration of other relevant factors.
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