News Release

Tateho Chemical to become wholly-owned Air Water subsidiary through stock swap

Oct 20, 2005

At the meeting of the board of directors held on July 7, 2005, a resolution was passed to commence bidding to take over the shares of Kawasaki Safety Service Industries, Ltd. with proceedings to start on July 8, 2005. The takeover bid was concluded on August 3.
As a result, Kawasaki Safety Service Industries is to become an Air Water subsidiary as of August 11, 2005.

I. Overview (announced on July 7, 2005)

  • The bidder : Air Water Inc.
  • Target company : Kawasaki Safety Service Industries, Ltd.
  • Type of shares purchased : common share
  • Time framework : from July 8, 2005 to August 3, 2005
  • Purchase price : ¥405 per share

II. Results

  • Total number of shares purchased : 2,227,800 shares
  • Number of shares owned and the ratio of ownership after purchase

    Before bidding : 3,577,000 shares (34.23%)
    After bidding : 5,804,800 shares (55.55%)

  • Funds required for purchase : ¥903 million

CONTACT: S. Kishi and J. Ishino
Public Relations, Air Water Inc.
20-16, Higashi Shinsaibashi 1-chome,
Chuo-ku, Osaka 542-0083

TEL: 06-6252-5411 / FAX: 06-6252-3965

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