||Daito Trust & Building Co., Ltd. discontinues a part of their business.
|Daito Trust Construction Co., Ltd. announces Daito Trust & Building
Co., Ltd., the wholly owned subsidiary, discontinues a part of business
based on a resolution of a board of directors held on March 1, 2006.
|1. Outline of the company
1) Trade Name: Daito Trust & Building Co., Ltd.
2) Address: 16-1 Konan 2-chome Minato-Ku Tokyo Japan
3) President: Isao Shiozawa
4) Capital: 400 million yen (100％ owned by Daito)
5) Business: design and construction of rental buildings
2. Reason of this discontinuation
Shin-Nihon Denken Co., Ltd carried over design and construction business
of rental buildings from Nihon Denken on August 2002. It renamed Daito
Trust & Building Co., Ltd. on July 2003 and expanded business mainly
to a metropolitan area. However, because of the slow down of orders, it
is decided to discontinue a part of business and concentrate on design
3. Discontinuing business
(1) Discontinuing business
Sales activities for construction
of rental buildings and single-family housing
(2) Financial Summary (April 1, 2004 - May 31, 2005)
(3) Employees of the relevant division
Relevant division employees are going
to be transferred to
Daito Trust Construction Co., Ltd.
The date of discontinuation: March 31, 2006
5. Effect to Daito's financial result
Daito Trust has already included its loss into a consolidated financial
forecast of fiscal year ending March 2006. It has no effect to Daito's
consolidated and non-consolidated financial plan for FY2006 announced on
October 11, 2005.