2010/01/12
TAIYO(SHANGHAI)TRADING CO.,LTD. Capital increase
This is to inform you that TAIYO WIRE CLOTH CO., LTD. injected additional capital into its local Chinese subsidiary TAIYO (SHANGHAI) TRADING CO., LTD. (TST) on December 22nd, 2009.
Due to this capital increase, TST’s capital has increased from USD 40 million to USD 80 million. There is no change in the ratio of capital contribution by this capital increase. (TST is a 100% subsidiary company of TWC.)
The purposes of this capital injection are to establish new logistics center at Shanghai and to expand our business in Chinese market.
