At the meeting of the Board of Directors of Nikon Corporation on May 16, 2008, a decision was made to dissolve Nikon Eyewear Co., Ltd., a subsidiary of Nikon Corporation, on May 31, 2008, and to liquidate at the end of March, 2009, as detailed below.
1. Reason for dissolution
Nikon Eyewear Co., Ltd. was established in January of 2000, and handled ophthalmic frame and sunglass business. The recent ophthalmic frame and sunglass market is experiencing severe pressure of competitive environments such as new entry of low-priced merchandisers in Japan as well as fierce global corporative competition. Nikon Eyewear Co., Ltd. has been aggressively promoting its business through such efforts as development of its original brands and licensing of overseas brands. However, the decision was made, judging that synergy with Nikon's core technologies is not expected and these management resources should be converted into other promising business fields.
2. Outline of Nikon Eyewear Co., Ltd.
|10-4, Ryogoku, 2-chome, Sumida-ku, Tokyo
|Development, Manufacture and Sales of Ophthalmic frames and sunglasses
|200 million Japanese Yen
|Nikon Corporation (100%)
|January 1, 2000
3. Effects of the dissolution on the performance of Nikon Corporation
The effect of the dissolution of Nikon Eyewear Co., Ltd. will be nominal and no revision will be made on the estimation of consolidated or non-consolidated financial results of Nikon Corporation.
The information is current as of the date of publication. It is subject to change without notice.