PROTO CORPORATION (“the Company”), at the meeting of its Board of Directors held on October 15, 2012, agreed to increase the capital, to change the ending day of its fiscal year, and to change the location of its headquarters of PROTO (TAIWAN) CO., LTD. (hereinafter referred to as “PROTO (TAIWAN)”), our consolidated subsidiary. Details are specified as follows.
1. Overview of the Subsidiary
(1)Business Name：PROTO (TAIWAN) CO., LTD.
(2)New Head Office Location：6F., No.18, Ln. 76, Ruiguang Rd., Neihu Dist., Taipei City 114, Taiwan
(3)Name and Title of Representative：Chairman: Hiroichi Yokoyama
(4)Date of Establishment：December 5, 2011
(5)Date of Capital Increase：November 15, 2012
(6)Business Areas：Information service for the Taiwan's market
(7)Amount of Capital：Before increase in capital: NT$ 40 million After increase in capital: NT$ 233 million
(8)Fiscal Ending Day：Present: March 31 of every year After change: December 31 of every year
(9)Major Shareholders andShareholding Ratio：PROTO CORPORATION 100%
Note: As for this fiscal year (the second fiscal year), the transition period upon change to the ending day of a fiscal year (accounting period), it is scheduled that account will be settled for nine months from April 1, 2012 to December 31, 2012.
2. Reasons for Capital Increase and Change to Fiscal Ending Day
With the goal of agile management of the automobile-related information service business in the Taiwan's market, the Company Group decided to increase the capital of PROTO (TAIWAN) and to take over, as of January 1, 2013, the automobile information media business of CARNEWS. COM LTD. including “car news,” a new car magazine, “car buys,” a used car magazine, and “carnews.com,” a portal of comprehensive car information.
Also, it is decided that the fiscal ending day of PROTO (TAIWAN), which was previously March 31, is changed to December 31 to coordinate with other overseas subsidiaries, whose fiscal ending day is December 31.
The influence on the consolidated business results for the fiscal year ending March 2013 is expected to be insignificant.