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March12,2013FANCLCorporationTSE1stSection:4921NoticeregardingconsiderationofshifttoholdingcompanystructureYokohama,March12,2013—Ataboardmeetingheldtoday,thedirectorsofFANCLCorporationdecidedtobeginconsiderationofashifttoaholdingcompanystructure,provisionallyasofApril1,2014.
Theshifttoaholdingcompanystructurewillbeginfollowingshareholderapprovalatthegeneralmeetingofshareholdersscheduledformid-Juneandthereceiptofrequiredregulatoryapprovals.
1.
PurposeoftheholdingcompanyThedecisiontoconsidertheshifttoaholdingcompanystructurewasbasedonthefollowing:(1)TostrengthenoperationsandbusinessimplementationstructuresAsofMarch1,2013,FANCLCORPORATIONswitchedtoacompanysysteminordertopromoterapiddecisionmakingandbusinessexecution.
Toendorsethischange,FANCLhasclarifiedresponsibilitiesforeachbusinessandsoughttobetterunderstandthecustomers'perspectiveandoperateunderourownfoundingprinciples.
However,wealsobelievethatitisnecessarytostrengthencorporategovernancebyenhancingexpertiseandautonomyofeachofthebusinesses.
(2)TostrengthentheglobalnatureoftheGroupWearecurrentlyrebrandingtheCosmeticsbusinessandendeavoringtoraiseourcorporatebrandvalue.
Lookingahead,however,weareawarethattheseinitiativesmustaddresstheglobalmarketplace,andbelievethatinimplementingtheseinitiatives,itisnecessarytohaveastructurethatallowstheholdingcompanytoimplementrapiddecisionmakingandpresentpoliciesthatareoptimalfortheentiregroup.
2.
MethodtoshifttowardsholdingcompanystructureDetailsofthescheduletoshifttowardsaholdingcompanystructure,andinformationonthepost-holdingcompanystructuremanagementandoperationstructurewillmadeavailableinatimelymannerfollowingdecisionsmadebytheBoardofDirectors.
3.
ScheduleforshifttowardsholdingcompanystructureMid-May,2013:BoardofDirectorsdecisiontobecomeaholdingcompanyMid-June,2013:ApprovalfromgeneralmeetingofshareholderstobecomeaholdingcompanyApril1,2014:Changetoaholdingcompanystructure***ENDS***