Mitsui & Co., Ltd. ("Mitsui") announced today that TELEPARK Corporation ("Telepark") has merged with MS Communications Co., Ltd., and has renamed the T-Gaia Corporation ("T-Gaia").
Through this merger, the ratio of Mitsui's voting shares of T-Gaia decreases from 41.9% to 22.8%, and Mitsui became one of the three largest shareholders of T-Gaia, as well as Sumitomo Corporation and Mitsubishi Corporation. And the status of T-Gaia has changed from Mitsui's subsidiary to associated company.
The financial impact related to this merger on Mitsui's consolidated net income will be reflected in the result of the third quarter.
Outline of T-Gaia Corporation (As of October 1, 2008)
|(1) Corporate name
|(2) Address of head office
||1-4-27, Koraku, Bunkyo-ku, Tokyo
|(4) Principal shareholders
||Mitsui & Co., Ltd. / Sumitomo Corporation / Mitsubishi Corporation
||Shigenori Miyazaki, President & CEO
||· Sales of mobile phones and the related business
· Brokering of telecommunication services including "Myline" and broadband access
· Distribution of content over mobile phone networks, Account settlement business, other new businesses
|(7) Number of employees
||3,130 (As of August 31, 2008)
|(8) Major Banks
||Sumitomo Mitsui Banking Corporation / The Chuo Mitsui Trust and Banking Company, Limited / Mizuho Corporate Bank, Ltd. / The Bank of Tokyo-Mitsubishi UFJ, Ltd.
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