(TRANSLATION FOR REFERENCE ONLY) April 14, 2021
To Our Shareholders:
Corporate Name: PROTO CORPORATION
Representative: Kenji Kamiya, President
Securities Code: 4298 (TSE and NSE 1st Section)
Contact: Takehito Suzuki, Executive Officer
Tel: +81-52-934-2000
Notice Regarding Changes in Specific Subsidiaries
PROTO CORPORATION ("the Company") hereby announces that it has resolved to establish PROTO Ventures 2 Investment Limited Partnership in April 2021.Once capital is invested into the fund, the fund will become a
specified subsidiary of the Company.
1. Reason for change
At its Board of Directors' meeting held today, the Company resolved to make investments its capital in PROTO Ventures 2 Investment Limited Partnership by 1.99 billion yen for the purpose of investment in startup companies within Japan and overseas. As a result, the fund will become a specified subsidiary of the Company, as the Company's capital investment in the fund is equivalent to more than 10% of the Company's capital.
2. Overview of the specified subsidiary to be transferred
(1) | Name | PROTO Ventures 2 Investment Limited Partnership | ||
(2) | Address | 18-1,Nishi-Shinjuku6-chome,Shinjuku-ku, Tokyo 160-0023, Japan | ||
(3) | Basis for Establishment, | Establishment of Investment Business Limited Liability Partnership under | ||
etc. | the Act on Investment Business Limited Liability Partnership Agreement | |||
(4) | Purpose of composition | Investment in startup companies within Japan and overseas | ||
(5) | Composition date | April 2021 (Tentative) | ||
(6) | Total amount of investment | 2 billion yen | ||
(7) | Investors・Investment ratio・ | PROTO Ventures 0.5% | ||
Overview of investors | PROTO CORPORATION 99.5% | |||
Name | PROTO Ventures | |||
Address | 18-1,Nishi-Shinjuku6-chome,Shinjuku-ku, Tokyo | |||
160-0023, Japan | ||||
Outline of managing | ||||
(8) | Representative | Toru Shiraki, Representative Director | ||
partner | Title and Name | |||
Business | Investment | |||
description | ||||
Capital | 430,000,000 yen | |||
Capital | We have a 99.5% stake. | |||
relationship | ||||
Relationship between the | Personnel | Our wholly owned subsidiary, PROTO Ventures has | ||
relationship | become a managing partner of the fund. | |||
(9) | listed company and the | |||
There is no business relationship between us and the | ||||
fund | Business | |||
fund concerned. Our wholly owned subsidiary, | ||||
relationship | ||||
PROTO Ventures has become a managing partner of | ||||
the fund. | ||||
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3. Schedule | |
Institutional decision date | April 14, 2021 |
Contract date | April 2021(Tentative) |
4. Future Outlook
The impact of this matter on the Company's financial results for the current consolidated financial year is expected to be negligible, however, if any matter arises that should be announced in the future, it will be disclosed as soon as possible.
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Disclaimer
Proto Corporation published this content on 14 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 April 2021 06:02:08 UTC.