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April 12, 2005 |
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Cosmo Oil Co., Ltd. |
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Public Relations Office |
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Dissolution of Subsidiary
Cosmo Oil Co., Ltd. (Head Office: Minato-ku, Tokyo; Capital: 51.9 billion yen; President: Yaichi Kimura) hereby announces that, it has been resolved to dissolve the subsidiary company, Cosmo Tanker Co., Ltd. The details are as follows.
1. Overview of Cosmo Tanker Co., Ltd.
| Head Office |
1-1-1 Shibaura, Minato-ku, Tokyo |
| Representative |
Kenji Hosaka, President |
| Capital |
30 million yen |
| Shareholdings |
Cosmo Oil Co., Ltd., 100% |
2. Developments Leading up to Dissolution
Cosmo Tanker Co., Ltd. had been entrusted with several business operations including the management of dispatch and operations and accounting for Cosmo Oil's oceangoing tankers. However, it was decided to dissolve the company after reviewing the business operations of the Group.
3. Schedule
Dissolution and liquidation are planned before the end of fiscal 2005.
4. Outlook for the Future
The impact associated with the dissolution of the company on consolidated and individual business operations will be minor.
