Announcement Regarding Decision to Acquire Fixed Asset
At the meeting of the Board of Directors of DISCO Corporation held on May 20, 2003, the Board resolved to acquire the fixed asset described below.
| 1. |
Reasons for acquisition: |
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To enable the Company to repurchase Company shares and thereby swifltly pursue flexible capital policies, should the need arise. |
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To attract and retain excellent employees by enhancing transportation convenience, etc. |
| 2. |
Details of asset to be acquired: |
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Land for R&D center |
Area: 11,507.54 square meters
Cost: 8.3 billion yen |
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To be improved with |
Building (10 stories above ground)
Floor area: 23,839 square meters
Estimated cost: 5.5 billion yen |
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Location: |
2-chome Omori-kita, Ota-ku, Tokyo |
| 3. |
Seller of land: Third party external to DISCO Group. |
| 4. |
Acquisition/improvement schedule: |
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July 2001 |
Singing of advanced contract to purchase land |
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July 2003 |
Signing of contract for construction work |
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May 2004 |
Acquisition of land |
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Dec 2004 |
Completion of improvements |
| 5. |
Effect on company performance: |
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This acquisition is expected to have no effect on the performance of DISCO Corporation for the fiscal year ending March 31, 2004. |
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Contact: Tsutomu Nakayama
Phone: 81-3-4590-1099 |
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