ProtoPROTO CORPORATION


News ReleaseNews Release

May 12, 2014
Notice Regarding Dissolution of the Subsidiary in the Republic of Indonesia

At the Board of Directors Meeting held on May 12, 2014, it was decided that PROTO CORPORATION (the Company) will dissolve and liquidate our subsidiary, PT. PROTO INDONESIA (referred to as “PROTO INDONESIA”).


1. Background for Dissolution and Liquidation

In December 2012, the Company established PROTO INDONESIA in the Republic of Indonesia, where the sales volume of automobiles is expected to grow, and has made efforts to expand our automobile-related information business in that country. However, the Company decided to dissolve PROTO INDONESIA, considering the fact that a firm business base has not been developed while over one year has elapsed since the establishment of the company.

2.Overview of the Subsidiary to be Dissolved
(1)   Business Name PT. PROTO INDONESIA
(2)   Head Office Location KEM Tower, 2nd Floor, Landas Pacu Barat Blok B10/No.2, Kemayoran,Jakarta 10610, Indonesia
(3)   Name and Title of
       Representative
President Director: Atsuya Okimura (Managing director of the Company)
(4)   Business Areas Automobile-related information business and Internet-related information business
(5)   Amount of Capital 18 billion IDR
(6)   Date of Establishment December 28, 2012
(7)   Major Shareholders and
      Shareholding Ratio
PROTO CORPORATION: 75%
PROTO MALAYSIA Sdn. Bhd.: 25%
(Indirect investment ratio of PROTO CORPORATION: 100%)
 Note: 100 IDR = About 0.9 yen
3. Schedule
Resolution at the Company’s Board of Directors Meeting: May 12, 2014
As for the date of liquidation, the liquidation process will be completed when the legal procedures required by the local government complete.
4.Future Forecast
It is expected that the impact of this action on the consolidated performance will be minor.


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