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March 23, 2007 |
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To: Parties concerned |
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Corporate Name: I-Net Corp.
Representative:President Shigeru Hirabayashi
(Code No. 9600 Tokyo Stock Exchange 1st Section)
Contact:Director Manager, Administration Department Fumiaki Igarashi
Phone #:+81-(0)45-682-0805
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Notification of acquisition of fixed assets
(acquisition of land for Center No.2 (tentative name))
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I-Net Corp. hereby announces the company’s decision to acquire land for the Center No. 2 (tentative name) for an expansion of its outsourcing business. |
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| 1. |
Reason for the acquisition
There have been mounting outsourcing needs in recent years for measures in compliance with the Law for the Protection of Personal Information and to deal with disasters and other business contingency plans (BCP) as well as security. It is furthermore thought that there will be a steady increase in corporate outsourcing needs along with the enactment of the J-SOX Law in April 2008.
The company has consistently promoted expansions in stock business and has provided various outsourcing services centered in data center facilities.These outsourcing services have been proceeding smoothly and the remaining space available for sale in both the first (activated in October 1998) and second (activated in May 2002) wings of the Yokohama Information Center is gradually declining.
Given the circumstances, the company will be acquiring land for Center No.2 (tentative name) with the aim of expediting selection and concentration and realizing a further expansion in outsourcing services.
Funds will be allocated for the purchase procured through the transfer of shares as indicated in the “Notification of the transfer of shares of Proton Co., Ltd. (subsidiary transfer)” dated today. |
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2.
Description of the property to be acquired |
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| Name |
Land for Center No.2 (tentative name) |
| Location |
Yokohama, Kanagawa Prefecture |
| Asset overview |
Land: 6,491.18m2 (1,963.58 tsubo)
(Building-to-land ratio: 60%, floor-area ratio: 200%) |
| Acquisition price |
￥980 million |
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| 3. |
Acquisition schedule
February 23, 2007: the Resolution of the Meeting of the Board of Directors
March 30, 2007: Signing of the purchase agreement (anticipated)
September 30, 2007: Delivery of the property (anticipated) |
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| 4. |
Outlook for the future
This transaction will have no effect on performance in the term ending March 2007.Effects on performance in the term ending March 2008 will be announced in succession upon the clarification of the construction plan. |
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