| PRESS RELEASES > January 25, 2005 |
 |
|
|
| January 25, 2005 |
 |
|
| TAIHEIYO CEMENT CORPORATION (TAIHEIYO) announced selling of its fixed assets. And the details are as follows;
|
1. Reasons for selling
TAIHEIYO has established the "04 Mid-Term Management Plan" in order to strengthen its financial structure and business prospects. In view of restructuring its total investments and business activities, TAIHEIYO has taken decision to sell this real estate. |
|
2. Details of Transaction
| Property & Location |
Book Value |
Sales Price |
Land and Building
(Higashi-Ikebukuro Toshima-ku, Tokyo) |
2,800 million yen |
100 million yen |
|
|
|
3. Purchaser
YER Limited Company
(There is no capital relationship between TAIHEIYO and this company.) |
|
4. Schedule for Selling
Contract date: January 21, 2005
Proposed transaction date: March 25, 2005
|
|
| 5. Proposed Prospect
By selling of above-mentioned real estate, selling loss of about 2,700 million yen will be generated as extraordinary loss. This is already considered in TAHIEIYO's projected performance for fiscal year 2005, which was disclosed on November 16, 2004 in the expected consolidated and non-consolidated mid-term financial statement of fiscal year 2005. |
|
 |
