ProtoPROTO CORPORATION


News ReleaseNews Release

April 23, 2013
(Revision) Notice Regarding Acquisition of Shares of CARS@SVTA PTE. LTD.
(Make It a Subsidiary)

A date announced in “Notice Regarding Acquisition of Shares of CARS@SVTA PTE. LTD. (Make It a Subsidiary)” on March 14, 2013 has been revised as described below:

1. Contents of the Revision
 *The revised part is underlined.
6. Time Schedule
(Before revision)
Corporate Resolution: March 14, 2013
Due Date of Payment: April 1, 2013
(After revision)
Corporate Resolution: March 14, 2013
Due Date of Payment: Notified as soon as it is determined
2. Background for the Revision
 At the meeting of the board of directors of our company on March 14, 2013, we decided to reorganize CARS@SVTA PTE. LTD. (referred to as CARS@SVTA below) into a consolidated subsidiary with PROTO SINGAPORE Pte. Ltd. (PROTO SINGAPORE), which is a consolidated subsidiary, receiving the new shares allocated to a third party from CARS@SVTA. PROTO SINGAPORE and CARS@SVTA have made final negotiations regarding the acquisition of the shares. However, CARS@SVTA suggested that the ratio of owned voting rights should be changed from 80.0%, as specified in the original contract, to 100.0% in the end, and so we are making discussions about this scheme.
3. Financial Outlook 
The influence this will have on the consolidated business performance is expected to be minor.


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