Press Releases

Godo Shusei Co., Ltd. and Asahi Kasei Corporation have today reached accord on the basic provisions of an agreement for the transfer of ownership of all shares of Fukumusume Sake Brewery Co., Ltd. from Asahi Kasei to Godo Shusei.

Godo Shusei is scheduled to adopt a holding company configuration on July 1 of this year, and is implementing a wide range of measures to strengthen operations. The acquisition of Fukumusume Sake Brewery, integrated with marketing operations and rights to all refined sake and artificial refined sake products held by Asahi Kasei, will bring extensive synergies. The augmented product lineup will result in economies of scale, and complementing marketing channels and distribution networks will yield enhanced operational efficiency.

 

Following the September 2002 transfer of shochu and low-alcohol beverage operations to Asahi Breweries, the liquors operations of Asahi Kasei have been centered on refined sake and artificial refined sake, including Fukumusume and Kikugenji products. The transfer of sake products to Godo Shusei, where they will be positioned as core products, clearly holds the best prospects for their development and growth. The liquors operations of Asahi Kasei date from 1992, with the acquisition of Toyo Jozo Co., Ltd.; upon execution of the transfer agreed today, Asahi Kasei will have completely withdrawn from liquors operations.

Corporate profiles

	Fukumusume Sake Brewery Co., Ltd.
	President:
		Yasuaki Nakaoka
	Head office:
		Kobe City, Hyogo Prefecture, Japan
	Establishment:
		August 1, 1963
	Operations:
		Production and sale of alcoholic beverages
	Fiscal year-end:
		March 31
	Employees:
		32 (as of April 1, 2003)
	Principal offices:
		Kobe City
	Paid-in capital:
		¥97.28 million
	Issued shares:
		194,560
	Share ownership:
		100% held by Asahi Kasei Corporation
	Overview of results (million ¥):
		Fiscal 2000 Fiscal 2001 Sales 5,055 4,626 Gross margin 203 241 Operating profit 29 73 Ordinary profit (loss) (2) 49 Net income (loss) (33) 12 Total assets 3,693 3,559 Shareholders’ equity 626 638 Dividends per share — —

Schedule

	Signing of Basic Agreement:
		April 25, 2003
	Date of transfer:
		July 2003, subject to change due to contingent procedures for acquisition of necessary licenses and approvals.