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Shinohara: Announcement of Civil Rehabilitation Act

Friday 14. January 2011 - The following is a statement issued by Shinohara Cp., Ltd.

We would like to express our thanks for your loyal cooperation.
We would like to announce that we have filed for Civil Rehabilitation Act to restructure our company condition to continue the business.
We deeply apologize for the inconvenience an anxiety we have caused you.
Civil Rehabilitation Act is a legal process to reconstruct an organization internally. This law is legislated under the influence of Chapter 11 bankruptcy protection in the United States.
The purpose of this Act is rehabilitation for debtors in financial difficulties by formulating plans as consented to by a number of their creditors and confirmed by the court, to appropriately coordinate the relationship of rights under civil law between such debtors and creditors, with the aim of ensuring the rehabilitation of the debtors’s business or economic life.
One of the points of this law is “Debtor in Prossession”. It does not have to appoint a reorganization trustee but the debtor can operate the rehabilitation plans. The original managers can share their years of experience in the rehabilitation acts.
Civil Rehabilitation Act is a law of which purpose is corporate revival.
Shinohara swears to do our utmost to achieve a corporate revival.
We manufacture and sell our products as normally today.
We still continuously pursue better technology and better service for our products.
We guarantee for supplying the spare parts and providing the service activities to all the Shinohara users as before
We thank you very much for your understanding and continuous cooperation.