Notice of Change of Business Name of U.S. Consolidated Subsidiary
MegaChips Corporation announces that it has decided to change the business name of Kawasaki Microelectronics America, Inc., the U.S. base of Kawasaki Microelectronics, Inc. (hereinafter “Kawasaki Micro”), the Company’s consolidated subsidiary. Details are as follows.
1. Profile of the U.S. Subsidiary
|(1) Name||Kawasaki Microelectronics America, Inc.|
|(2) Location||2033 Gateway Place , Suite 400, San Jose, CA95110 U.S.A|
|(3) Representative||Koichi Akeyama (concurrently General Manager of Business Unit 3 of Kawasaki Micro)|
|(4) Business||The subsidiary has the research and development function of the MegaChips Group, engages in the sales and customer support of ASIC products in North America, and services markets in Europe and the Middle East.|
|(5) Capital||4,570,000 U.S. dollars|
2. New Business Name MegaChips Technology America Corporation
3. Reason of the Change of Business Name The business name will be changed in association with the merger between the Company and Kawasaki Micro (on April 1, 2013).
4. Management (due to take office on March 31, 2013) Directors：Koichi Akeyama Shigeki Matsuoka (Executive Vice President of MegaChips Corporation) Gen Sasaki (Director and Executive Officer of MegaChips Corporation, General Manager of Second Operation Division) Officers ：Koichi Akeyama, Chief Executive Officer Vijay PATHAK, Chief Technology Officer Shujiro Matsuzaka, Chief Financial Officer
5. Integration of subsidiary with holding company in the United States (dated March 31, 2013) To streamline the management system of the MegaChips Group in the United States, it has been decided to proceed with an absorption-type merger between the U.S. operating company, Kawasaki Microelectronics America, Inc., as surviving company and the U.S. holding company, Kawasaki Microelectronics Holdings (USA), Inc. as the company being absorbed. Because this is a merger between the Company’s wholly owned subsidiaries, it will have a negligible impact on the consolidated business performance of the Company.
6. Scheduled Day of Change March 31, 2013