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Regarding the Capital Transfer of CVTEC Co., Ltd.
(Dec. 26, 2006) |
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Aisin AW Co., Ltd.
Toyota Motor Corporation
Bosch Corporation
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| A capital transfer was performed on December 27, 2006 involving CVTEC Co., Ltd., which is a joint venture between Aisin AW Co., Ltd. (AW) and Bosch Corporation. The details of the transfer can be found below. |
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| (1) Purpose: |
A capital transfer targeting the belt producer CVTEC will be performed so that AW and Bosch can specialize in Continuously Variable Transmission (CVT) belt development and supply, respectively, to address rising demand for CVT among numerous automobile manufacturers. |
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| (2) Content: |
Shares will be transferred from the Bosch Corporation to AW and Toyota Motor Corporation, with a shareholder composition outlined below. Consequently, CVTEC will become an AW subsidiary. |
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*Shares issues: 60,000
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AW
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Bosch
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Toyota
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Before
Change
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30,000 shares
(50%)
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30,000 shares
(50%)
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-
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After
Change
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39,960 shares
(66.6%)
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-
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20,040 shares
(33.4%)
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| (Reference) |
| Outline of CVTEC Co., Ltd. |
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| 1.Company Name: |
CVTEC Co., Ltd. |
| 2.Location: |
2-2-65, Midorigahama, Tahara, Aichi 444-3401, Japan |
| 3.Capital: |
1.5 billion yen |
| 4.Establishment: |
July 2002 |
| 5.Representative: |
Kenji Ito, President |
| 6.Business: |
CVT belt production |
| 7.Production Scale: |
430,000 units (2005 results) |
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