News Release LAWSON Announces Completed Acquisition of Shares (100% Ownership) of HMV Japan K.K.

NEWS RELEASE

TOKYO, JAPAN, 12 01, 2010

1. Profile of HMV Japan K.K.

(1) Name HMV Japan K.K.
(2) Address Roppongi Yamada Building, 5-27, Roppongi 3-chome, Minato-ku, Tokyo
(3) Date established February 28, 1990
(4) Business
Import and sale of CDs, DVDs, records, and other music/video products and accessories/related products as well as books and magazines
Sale of the above-listed products on the HMV ONLINE website (URL: http://www.hmv.co.jp/)
Sale of above-listed products on the HMV MOBILE shopping website (URL: http://m.hmv.co.jp/)
Sale of goods, accessories, etc.
(5) Capital 2,953 million yen *1
(6) Total shares outstanding 5,001 shares

*1 HMV Japan Holdings Co., Ltd. made a capital increase of 5,407 million yen in HMV on December 1, 2010 prior to LAWSON’s acquisition of the shares of HMV.

 

2. Method of share acquisition, number of shares acquired, and acquisition cost

LAWSON acquired all of the outstanding common shares of HMV held by HMV Japan Holdings Co., Ltd., (5,001 shares) through a transfer of shares at a share purchase price of 1,800 million yen.

 

3. Date of share acquisition

December 1, 2010

 

4. Appointment of New Executives

The following members of the board, president and corporate auditor were appointed at the HMV extraordinary general shareholders’ meeting and Board of Directors meeting held on December 1, 2010 and assumed their respective positions as of that date.

 

Title Name
President Masaharu Kamo
Executive Vice President, Division Director,
Entertainment & Service Development Division,
LAWSON, Inc.
Member of the board Yoshiyuki Yahagi
Senior Executive Vice President, CFO, LAWSON, Inc.
Member of the board Ken Sakamoto
Chairman, LAWSON ENTERMEDIA, INC.
Member of the board Noriyuki Nobayashi
President, LAWSON ENTERMEDIA, INC.
Member of the board Yuichi Amemiya
Former President of HMV Japan K.K.
Corporate auditor Shigeo Suzuki
Deputy Division Director, Corporate Planning Office,
LAWSON, Inc.

 

5. Outlook

This purchase of shares makes HMV a consolidated subsidiary of LAWSON, but its impact of on LAWSON’s consolidated operating results is expected to be minimal.

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